Corebridge Financial Inc. Reduces Holdings in Rexford Industrial Realty, Inc. (NYSE:REXR)

Corebridge Financial Inc. decreased its holdings in Rexford Industrial Realty, Inc. (NYSE:REXR - Free Report) by 3.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 251,172 shares of the real estate investment trust's stock after selling 7,847 shares during the quarter. Corebridge Financial Inc. owned 0.11% of Rexford Industrial Realty worth $9,710,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Quantbot Technologies LP purchased a new stake in Rexford Industrial Realty during the 4th quarter worth about $33,000. UMB Bank n.a. increased its stake in shares of Rexford Industrial Realty by 38.9% during the fourth quarter. UMB Bank n.a. now owns 999 shares of the real estate investment trust's stock worth $39,000 after buying an additional 280 shares during the period. Whittier Trust Co. of Nevada Inc. raised its holdings in Rexford Industrial Realty by 515.7% in the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 1,490 shares of the real estate investment trust's stock valued at $58,000 after acquiring an additional 1,248 shares in the last quarter. Quarry LP lifted its stake in Rexford Industrial Realty by 239.6% in the third quarter. Quarry LP now owns 2,649 shares of the real estate investment trust's stock worth $133,000 after acquiring an additional 1,869 shares during the last quarter. Finally, SRS Capital Advisors Inc. grew its holdings in Rexford Industrial Realty by 4,104.5% during the 4th quarter. SRS Capital Advisors Inc. now owns 2,775 shares of the real estate investment trust's stock worth $107,000 after acquiring an additional 2,709 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 Stock Performance

Shares of NYSE REXR traded down $0.56 during mid-day trading on Friday, hitting $39.37. 2,039,946 shares of the company were exchanged, compared to its average volume of 1,872,770. 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 cap of $8.97 billion, a price-to-earnings ratio of 32.53, a price-to-earnings-growth ratio of 2.62 and a beta of 0.98. The stock has a 50 day simple moving average of $40.35 and a 200-day simple moving average of $42.42. Rexford Industrial Realty, Inc. has a 1-year low of $36.92 and a 1-year high of $52.61.

Rexford Industrial Realty (NYSE:REXR - Get Free Report) last issued its earnings results on Wednesday, February 5th. The real estate investment trust reported $0.58 earnings per share (EPS) 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 forecast that Rexford Industrial Realty, Inc. will post 2.38 EPS for the current fiscal year.

Rexford Industrial Realty Increases Dividend

The company also recently disclosed 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. 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 4.37%. The ex-dividend date of this dividend is Monday, March 31st. Rexford Industrial Realty's dividend payout ratio (DPR) is presently 142.15%.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on REXR shares. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Rexford Industrial Realty in a research report on Tuesday, January 14th. They set a "hold" rating and a $40.00 price objective for the company. Industrial Alliance Securities set a $38.00 price objective on Rexford Industrial Realty in a research report on Tuesday, March 25th. Mizuho dropped their price objective on Rexford Industrial Realty from $46.00 to $45.00 and set a "neutral" rating on the stock in a report on Wednesday, January 8th. JPMorgan Chase & Co. decreased their target price on Rexford Industrial Realty from $45.00 to $44.00 and set a "neutral" rating for the company in a research note on Thursday, February 13th. Finally, Scotiabank dropped their price target on shares of 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. Two investment 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 data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $46.83.

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.