abrdn plc raised its position in shares of Rexford Industrial Realty, Inc. (NYSE:REXR - Free Report) by 32.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 56,650 shares of the real estate investment trust's stock after acquiring an additional 13,816 shares during the period. abrdn plc's holdings in Rexford Industrial Realty were worth $2,193,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds have also bought and sold shares of REXR. UMB Bank n.a. grew its holdings in shares of Rexford Industrial Realty by 38.9% in the fourth quarter. UMB Bank n.a. now owns 999 shares of the real estate investment trust's stock worth $39,000 after purchasing an additional 280 shares during the last quarter. IHT Wealth Management LLC grew its holdings in shares of Rexford Industrial Realty by 4.8% in the third quarter. IHT Wealth Management LLC now owns 6,451 shares of the real estate investment trust's stock worth $325,000 after purchasing an additional 296 shares during the last quarter. Exchange Traded Concepts LLC grew its holdings in shares of Rexford Industrial Realty by 13.2% in the fourth quarter. Exchange Traded Concepts LLC now owns 3,172 shares of the real estate investment trust's stock worth $123,000 after purchasing an additional 371 shares during the last quarter. Naviter Wealth LLC grew its holdings in Rexford Industrial Realty by 2.6% during the 3rd quarter. Naviter Wealth LLC now owns 14,907 shares of the real estate investment trust's stock worth $756,000 after acquiring an additional 382 shares in the last quarter. Finally, M&T Bank Corp grew its holdings in Rexford Industrial Realty by 1.5% during the 3rd quarter. M&T Bank Corp now owns 29,225 shares of the real estate investment trust's stock worth $1,470,000 after acquiring an additional 442 shares in the last quarter. Institutional investors own 99.52% of the company's stock.
Wall Street Analyst Weigh In
Several research analysts have issued reports on REXR shares. Mizuho dropped their target price on shares of Rexford Industrial Realty from $46.00 to $45.00 and set a "neutral" rating on the stock in a report on Wednesday, January 8th. Industrial Alliance Securities set a $55.00 target price on shares of Rexford Industrial Realty in a report on Friday, October 18th. Scotiabank cut shares of Rexford Industrial Realty from a "sector outperform" rating to a "sector perform" rating and dropped their target price for the stock from $55.00 to $48.00 in a report on Friday, October 25th. Evercore ISI reiterated an "outperform" rating on shares of Rexford Industrial Realty in a report on Friday, October 18th. Finally, JPMorgan Chase & Co. dropped their target price on shares of Rexford Industrial Realty from $45.00 to $44.00 and set a "neutral" rating on the stock in a report on Thursday. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $48.75.
Read Our Latest Stock Analysis on REXR
Rexford Industrial Realty Stock Down 0.5 %
Shares of REXR stock traded down $0.19 during mid-day trading on Friday, hitting $40.39. 1,570,382 shares of the stock traded hands, compared to its average volume of 2,153,446. The stock has a market cap of $8.98 billion, a P/E ratio of 33.38, a P/E/G ratio of 2.28 and a beta of 0.95. The stock's fifty day moving average is $39.61 and its two-hundred day moving average is $44.55. Rexford Industrial Realty, Inc. has a 52-week low of $36.92 and a 52-week high of $53.88. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.30 and a quick ratio of 1.20.
Rexford Industrial Realty (NYSE:REXR - Get Free Report) last announced its quarterly earnings data on Wednesday, February 5th. The real estate investment trust reported $0.58 EPS for the quarter, beating the consensus estimate 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 analysts predict that Rexford Industrial Realty, Inc. will post 2.39 EPS for the current year.
Rexford Industrial Realty Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be given a $0.43 dividend. This is a positive change from Rexford Industrial Realty's previous quarterly dividend of $0.42. This represents a $1.72 annualized dividend and a dividend yield of 4.26%. The ex-dividend date is Monday, March 31st. Rexford Industrial Realty's dividend payout ratio (DPR) is presently 138.02%.
Rexford Industrial Realty Company Profile
(
Free Report)
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.
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