Dai ichi Life Insurance Company Ltd Makes New Investment in Rexford Industrial Realty, Inc. (NYSE:REXR)

Dai ichi Life Insurance Company Ltd acquired a new position in shares of Rexford Industrial Realty, Inc. (NYSE:REXR) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 60,541 shares of the real estate investment trust’s stock, valued at approximately $3,396,000.

Other large investors also recently bought and sold shares of the company. Lindbrook Capital LLC increased its holdings in shares of Rexford Industrial Realty by 4.9% in the 4th quarter. Lindbrook Capital LLC now owns 5,554 shares of the real estate investment trust’s stock valued at $312,000 after purchasing an additional 259 shares in the last quarter. Securian Asset Management Inc. increased its holdings in shares of Rexford Industrial Realty by 1.9% in the 4th quarter. Securian Asset Management Inc. now owns 17,815 shares of the real estate investment trust’s stock valued at $999,000 after purchasing an additional 330 shares in the last quarter. Arizona State Retirement System increased its holdings in shares of Rexford Industrial Realty by 0.7% in the 4th quarter. Arizona State Retirement System now owns 57,624 shares of the real estate investment trust’s stock valued at $3,233,000 after purchasing an additional 407 shares in the last quarter. Fifth Third Bancorp increased its holdings in shares of Rexford Industrial Realty by 58.2% in the 3rd quarter. Fifth Third Bancorp now owns 1,117 shares of the real estate investment trust’s stock valued at $55,000 after purchasing an additional 411 shares in the last quarter. Finally, Toronto Dominion Bank increased its holdings in shares of Rexford Industrial Realty by 2.0% in the 3rd quarter. Toronto Dominion Bank now owns 23,203 shares of the real estate investment trust’s stock valued at $1,145,000 after purchasing an additional 465 shares in the last quarter. Hedge funds and other institutional investors own 99.52% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on REXR shares. Truist Financial lowered their price objective on shares of Rexford Industrial Realty from $53.00 to $50.00 and set a “buy” rating on the stock in a research note on Thursday, May 2nd. Robert W. Baird lowered their price objective on shares of Rexford Industrial Realty from $57.00 to $49.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 1st. JPMorgan Chase & Co. cut shares of Rexford Industrial Realty from an “overweight” rating to a “neutral” rating and set a $55.00 price target on the stock. in a research note on Wednesday, February 7th. TheStreet raised shares of Rexford Industrial Realty from a “c+” rating to a “b-” rating in a research note on Thursday, February 1st. Finally, Wedbush began coverage on shares of Rexford Industrial Realty in a research note on Monday, April 22nd. They set a “neutral” rating and a $45.00 price target on the stock. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, Rexford Industrial Realty has an average rating of “Hold” and an average price target of $53.00.

Rexford Industrial Realty Trading Down 1.0 %

REXR stock traded down $0.46 during midday trading on Thursday, reaching $45.00. 86,488 shares of the company’s stock traded hands, compared to its average volume of 1,846,620. The company has a market capitalization of $9.80 billion, a P/E ratio of 41.71, a PEG ratio of 1.85 and a beta of 0.89. The company has a debt-to-equity ratio of 0.41, a current ratio of 3.21 and a quick ratio of 3.21. Rexford Industrial Realty, Inc. has a fifty-two week low of $41.56 and a fifty-two week high of $58.02. The business has a 50-day moving average price of $46.65 and a two-hundred day moving average price of $50.39.

Rexford Industrial Realty (NYSE:REXR) last posted its earnings results on Thursday, April 18th. The real estate investment trust reported $0.27 EPS for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.30). Rexford Industrial Realty had a return on equity of 3.04% and a net margin of 28.84%. The firm had revenue of $214.10 million for the quarter, compared to analyst estimates of $207.39 million. During the same period in the previous year, the firm posted $0.52 earnings per share. The company’s revenue for the quarter was up 15.0% on a year-over-year basis. Equities research analysts forecast that Rexford Industrial Realty, Inc. will post 2.34 EPS for the current fiscal year.

Rexford Industrial Realty Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Friday, June 28th will be given a dividend of $0.417 per share. The ex-dividend date is Friday, June 28th. This represents a $1.67 dividend on an annualized basis and a dividend yield of 3.71%. Rexford Industrial Realty’s payout ratio is currently 153.21%.

Rexford Industrial Realty Profile

Rexford Industrial creates value by investing in, operating and redeveloping industrial properties throughout infill Southern California, the world's fourth largest industrial market and consistently the highest-demand with lowest-supply major market in the nation. The Company's highly differentiated strategy enables internal and external growth opportunities through its proprietary value creation and asset management capabilities.