OFI Invest Asset Management Makes New $13.96 Million Investment in Rexford Industrial Realty, Inc. (NYSE:REXR)

OFI Invest Asset Management acquired a new stake in Rexford Industrial Realty, Inc. (NYSE:REXR - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 373,883 shares of the real estate investment trust's stock, valued at approximately $13,959,000. OFI Invest Asset Management owned about 0.17% of Rexford Industrial Realty at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the business. JPMorgan Chase & Co. lifted its stake in shares of Rexford Industrial Realty by 26.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 4,503,571 shares of the real estate investment trust's stock valued at $226,575,000 after purchasing an additional 954,202 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Rexford Industrial Realty by 1.9% in the 3rd quarter. Geode Capital Management LLC now owns 4,074,044 shares of the real estate investment trust's stock valued at $205,014,000 after purchasing an additional 74,865 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its stake in shares of Rexford Industrial Realty by 14.8% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 3,339,219 shares of the real estate investment trust's stock valued at $167,996,000 after purchasing an additional 431,659 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Rexford Industrial Realty by 3.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,782,904 shares of the real estate investment trust's stock valued at $107,587,000 after purchasing an additional 93,360 shares during the last quarter. Finally, Wellington Management Group LLP lifted its stake in shares of Rexford Industrial Realty by 1.9% in the 3rd quarter. Wellington Management Group LLP now owns 2,265,637 shares of the real estate investment trust's stock valued at $113,984,000 after purchasing an additional 42,450 shares during the last quarter. Institutional investors and hedge funds own 99.52% of the company's stock.

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Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on REXR shares. Deutsche Bank Aktiengesellschaft started coverage on shares of Rexford Industrial Realty in a research note on Tuesday, January 14th. They issued a "hold" rating and a $40.00 price objective for the company. Scotiabank cut their target price on shares of Rexford Industrial Realty from $48.00 to $47.00 and set a "sector perform" rating for the company in a research report on Friday, February 28th. Barclays cut their target price on shares of Rexford Industrial Realty from $44.00 to $41.00 and set an "underweight" rating for the company in a research report on Monday, January 13th. Truist Financial cut their target price on shares of Rexford Industrial Realty from $54.00 to $50.00 and set a "buy" rating for the company in a research report on Tuesday, November 12th. Finally, Mizuho cut their target price on shares of Rexford Industrial Realty from $46.00 to $45.00 and set a "neutral" rating for the company in a research report on Wednesday, January 8th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $48.50.

Rexford Industrial Realty Stock Performance

Shares of REXR traded down $0.50 during trading hours on Wednesday, reaching $39.07. 2,646,809 shares of the company traded hands, compared to its average volume of 1,823,982. The stock's fifty day moving average is $40.03 and its 200 day moving average is $43.32. The stock has a market cap of $8.91 billion, a P/E ratio of 32.29, a price-to-earnings-growth ratio of 2.62 and a beta of 0.98. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.30 and a current ratio of 1.30. Rexford Industrial Realty, Inc. has a 1-year low of $36.92 and a 1-year high of $53.45.

Rexford Industrial Realty (NYSE:REXR - Get Free Report) last posted its earnings results on Wednesday, February 5th. The real estate investment trust reported $0.58 earnings per share for the quarter, beating analysts' consensus estimates of $0.27 by $0.31. Rexford Industrial Realty had a net margin of 29.10% and a return on equity of 3.26%. Equities research analysts anticipate that Rexford Industrial Realty, Inc. will post 2.38 earnings per share for the current fiscal year.

Rexford Industrial Realty Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be paid a $0.43 dividend. The ex-dividend date is Monday, March 31st. This represents a $1.72 dividend on an annualized basis and a yield of 4.40%. This is a boost from Rexford Industrial Realty's previous quarterly dividend of $0.42. Rexford Industrial Realty's payout ratio is presently 142.15%.

About Rexford Industrial Realty

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.