Aigen Investment Management LP Invests $719,000 in Rexford Industrial Realty, Inc. (NYSE:REXR)

Aigen Investment Management LP purchased a new position in shares of Rexford Industrial Realty, Inc. (NYSE:REXR - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 18,607 shares of the real estate investment trust's stock, valued at approximately $719,000.

Several other hedge funds have also recently added to or reduced their stakes in REXR. UMB Bank n.a. grew its holdings in Rexford Industrial Realty by 38.9% during the 4th quarter. UMB Bank n.a. now owns 999 shares of the real estate investment trust's stock worth $39,000 after acquiring an additional 280 shares during the last quarter. IHT Wealth Management LLC grew its holdings in Rexford Industrial Realty by 4.8% during the third quarter. IHT Wealth Management LLC now owns 6,451 shares of the real estate investment trust's stock valued at $325,000 after purchasing an additional 296 shares during the period. CIBC Asset Management Inc increased its position in shares of Rexford Industrial Realty by 5.7% in the 4th quarter. CIBC Asset Management Inc now owns 6,572 shares of the real estate investment trust's stock valued at $254,000 after buying an additional 355 shares in the last quarter. Exchange Traded Concepts LLC grew its position in shares of Rexford Industrial Realty by 13.2% in the 4th quarter. Exchange Traded Concepts LLC now owns 3,172 shares of the real estate investment trust's stock valued at $123,000 after purchasing an additional 371 shares during the period. Finally, M&T Bank Corp increased its position in shares of Rexford Industrial Realty by 1.5% during the third 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 and hedge funds own 99.52% of the company's stock.

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Rexford Industrial Realty Trading Down 1.8 %

REXR traded down $0.75 during midday trading on Monday, hitting $39.71. 3,072,240 shares of the company were exchanged, compared to its average volume of 1,816,246. Rexford Industrial Realty, Inc. has a 1-year low of $36.92 and a 1-year high of $53.88. The company has a quick ratio of 1.30, a current ratio of 1.30 and a debt-to-equity ratio of 0.39. The firm has a market capitalization of $9.05 billion, a P/E ratio of 32.81, a P/E/G ratio of 2.62 and a beta of 0.98. The firm's 50 day moving average price is $39.98 and its 200-day moving average price is $43.52.

Rexford Industrial Realty (NYSE:REXR - Get Free Report) last announced its 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 net margin of 29.10% and a return on equity of 3.26%. As a group, equities analysts forecast that Rexford Industrial Realty, Inc. will post 2.38 EPS for the current fiscal year.

Rexford Industrial Realty Increases Dividend

The business 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 is an increase from Rexford Industrial Realty's previous quarterly dividend of $0.42. This represents a $1.72 annualized dividend and a yield of 4.33%. The ex-dividend date is Monday, March 31st. Rexford Industrial Realty's payout ratio is 142.15%.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on REXR. Barclays decreased their price objective on Rexford Industrial Realty from $44.00 to $41.00 and set an "underweight" rating for the company in a report on Monday, January 13th. Scotiabank dropped their price objective on Rexford Industrial Realty from $48.00 to $47.00 and set a "sector perform" rating on the stock in a research note on Friday, February 28th. JPMorgan Chase & Co. reduced their price target on Rexford Industrial Realty from $45.00 to $44.00 and set a "neutral" rating for the company in a report on Thursday, February 13th. Deutsche Bank Aktiengesellschaft started coverage on shares of Rexford Industrial Realty in a research report on Tuesday, January 14th. They issued a "hold" rating and a $40.00 price objective on the stock. Finally, Truist Financial reduced their price target on Rexford Industrial Realty from $54.00 to $50.00 and set a "buy" rating for the company in a research note on Tuesday, November 12th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $48.50.

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.