Long Pond Capital LP Buys New Position in Rexford Industrial Realty, Inc. (NYSE:REXR)

Long Pond Capital LP acquired a new position in Rexford Industrial Realty, Inc. (NYSE:REXR - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 1,515,651 shares of the real estate investment trust's stock, valued at approximately $58,595,000. Rexford Industrial Realty accounts for about 3.0% of Long Pond Capital LP's portfolio, making the stock its 16th biggest holding. Long Pond Capital LP owned approximately 0.68% of Rexford Industrial Realty as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Stifel Financial Corp lifted its holdings in shares of Rexford Industrial Realty by 2.7% during the third quarter. Stifel Financial Corp now owns 53,402 shares of the real estate investment trust's stock worth $2,687,000 after purchasing an additional 1,380 shares during the period. Orion Portfolio Solutions LLC acquired a new position in Rexford Industrial Realty during the third quarter worth about $229,000. Tidal Investments LLC grew its stake in Rexford Industrial Realty by 22.5% during the 3rd quarter. Tidal Investments LLC now owns 171,433 shares of the real estate investment trust's stock valued at $8,625,000 after acquiring an additional 31,528 shares in the last quarter. Franklin Resources Inc. lifted its stake in Rexford Industrial Realty by 1.1% in the 3rd quarter. Franklin Resources Inc. now owns 822,740 shares of the real estate investment trust's stock worth $38,924,000 after purchasing an additional 9,200 shares in the last quarter. Finally, Oddo BHF Asset Management Sas acquired a new stake in shares of Rexford Industrial Realty in the third quarter valued at approximately $10,925,000. Hedge funds and other institutional investors own 99.52% of the company's stock.

Rexford Industrial Realty Price Performance

Rexford Industrial Realty stock traded up $0.53 during mid-day trading on Tuesday, reaching $32.23. The company had a trading volume of 684,323 shares, compared to its average volume of 2,403,385. The company has a market capitalization of $7.61 billion, a P/E ratio of 26.64, a P/E/G ratio of 2.62 and a beta of 0.99. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.30 and a quick ratio of 1.30. The stock's 50-day simple moving average is $38.03 and its 200-day simple moving average is $40.34. Rexford Industrial Realty, Inc. has a 1 year low of $29.68 and a 1 year high of $52.61.

Rexford Industrial Realty (NYSE:REXR - Get Free Report) last released its quarterly earnings results on Wednesday, April 16th. The real estate investment trust reported $0.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.05. Rexford Industrial Realty had a return on equity of 3.26% and a net margin of 29.10%. The business had revenue of $248.82 million during the quarter, compared to the consensus estimate of $246.74 million. On average, equities analysts predict that Rexford Industrial Realty, Inc. will post 2.38 EPS for the current year.

Rexford Industrial Realty Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th will be issued a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a dividend yield of 5.34%. The ex-dividend date is Monday, June 30th. Rexford Industrial Realty's payout ratio is currently 138.71%.

Analyst Upgrades and Downgrades

Several research firms have recently commented on REXR. Evercore ISI reduced their price target on Rexford Industrial Realty from $43.00 to $40.00 and set an "outperform" rating on the stock in a report on Monday. Scotiabank cut their price target on shares of Rexford Industrial Realty from $47.00 to $39.00 and set a "sector perform" rating on the stock in a research note on Monday, April 7th. Barclays decreased their price target on shares of Rexford Industrial Realty from $41.00 to $38.00 and set an "underweight" rating for the company in a research report on Tuesday, March 25th. Robert W. Baird reduced their price target on Rexford Industrial Realty from $48.00 to $47.00 and set a "neutral" rating on the stock in a research report on Tuesday, March 4th. Finally, Industrial Alliance Securities set a $38.00 price target on shares of Rexford Industrial Realty in a report on Tuesday, March 25th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of "Hold" and an average price target of $44.67.

Rexford Industrial Realty Company 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.