Rexford Industrial Realty, Inc. (NYSE:REXR) Shares Purchased by Sumitomo Mitsui DS Asset Management Company Ltd

Sumitomo Mitsui DS Asset Management Company Ltd boosted its holdings in Rexford Industrial Realty, Inc. (NYSE:REXR) by 7.9% in the 4th quarter, HoldingsChannel reports. The fund owned 42,845 shares of the real estate investment trust’s stock after acquiring an additional 3,146 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Rexford Industrial Realty were worth $1,656,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently bought and sold shares of REXR. Sumitomo Mitsui Trust Group Inc. increased its holdings in shares of Rexford Industrial Realty by 0.9% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 240,682 shares of the real estate investment trust’s stock valued at $9,305,000 after purchasing an additional 2,129 shares in the last quarter. State of Alaska Department of Revenue grew its position in Rexford Industrial Realty by 0.9% during the fourth quarter. State of Alaska Department of Revenue now owns 131,519 shares of the real estate investment trust’s stock worth $5,083,000 after buying an additional 1,210 shares during the period. Retirement Systems of Alabama increased its holdings in Rexford Industrial Realty by 0.7% in the fourth quarter. Retirement Systems of Alabama now owns 588,518 shares of the real estate investment trust’s stock valued at $22,752,000 after buying an additional 3,817 shares in the last quarter. abrdn plc increased its holdings in Rexford Industrial Realty by 32.3% in the fourth quarter. abrdn plc now owns 56,650 shares of the real estate investment trust’s stock valued at $2,193,000 after buying an additional 13,816 shares in the last quarter. Finally, Graham Capital Wealth Management LLC lifted its position in shares of Rexford Industrial Realty by 83.9% during the 4th quarter. Graham Capital Wealth Management LLC now owns 80,948 shares of the real estate investment trust’s stock valued at $3,129,000 after acquiring an additional 36,919 shares during the period. Institutional investors and hedge funds own 99.52% of the company’s stock.

Rexford Industrial Realty Stock Performance

Shares of REXR opened at $40.34 on Tuesday. Rexford Industrial Realty, Inc. has a 1 year low of $36.92 and a 1 year high of $53.88. The company’s 50 day simple moving average is $39.68 and its 200 day simple moving average is $44.78. The company has a market capitalization of $8.97 billion, a price-to-earnings ratio of 33.34, a PEG ratio of 2.28 and a beta of 0.95. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.20 and a current ratio of 1.30.

Rexford Industrial Realty (NYSE:REXR) last issued its quarterly earnings results on Wednesday, February 5th. The real estate investment trust reported $0.58 earnings per share for the quarter, topping analysts’ consensus estimates of $0.27 by $0.31. Rexford Industrial Realty had a return on equity of 3.26% and a net margin of 29.10%. On average, sell-side analysts predict that Rexford Industrial Realty, Inc. will post 2.39 EPS for the current year.

Rexford Industrial Realty Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be paid a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a yield of 4.26%. This is a positive change from Rexford Industrial Realty’s previous quarterly dividend of $0.42. The ex-dividend date is Monday, March 31st. Rexford Industrial Realty’s dividend payout ratio (DPR) is presently 142.15%.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on REXR shares. Scotiabank cut Rexford Industrial Realty from a “sector outperform” rating to a “sector perform” rating and lowered their price target for the stock from $55.00 to $48.00 in a report on Friday, October 25th. Bank of America cut Rexford Industrial Realty from a “buy” rating to a “neutral” rating and dropped their price target for the company from $66.00 to $49.00 in a research report on Monday, October 21st. Barclays decreased their price objective on shares of Rexford Industrial Realty from $44.00 to $41.00 and set an “underweight” rating on the stock in a research report on Monday, January 13th. Industrial Alliance Securities set a $55.00 target price on shares of Rexford Industrial Realty in a report on Friday, October 18th. Finally, Truist Financial reduced their price target on shares of Rexford Industrial Realty from $54.00 to $50.00 and set a “buy” rating on the stock in a report on Tuesday, November 12th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $49.42.

Rexford Industrial Realty Profile

Rexford Industrial Realty, Inc is a self-administered and self-managed real estate investment trust, which engages in owning and operating industrial properties in infill markets. The company was founded by Richard S. Ziman on January 18, 2013 and is headquartered in Los Angeles, CA.