New York Life Investment Management LLC Lowers Holdings in Rexford Industrial Realty, Inc. (NYSE:REXR)

New York Life Investment Management LLC trimmed its stake in shares of Rexford Industrial Realty, Inc. (NYSE:REXR - Free Report) by 71.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 23,303 shares of the real estate investment trust's stock after selling 56,945 shares during the quarter. New York Life Investment Management LLC's holdings in Rexford Industrial Realty were worth $901,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. UMB Bank n.a. boosted its stake in 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 valued at $39,000 after buying an additional 280 shares in the last quarter. Archer Investment Corp grew its stake in Rexford Industrial Realty by 61.5% during the 3rd quarter. Archer Investment Corp now owns 2,100 shares of the real estate investment trust's stock valued at $106,000 after acquiring an additional 800 shares in the last quarter. Exchange Traded Concepts LLC lifted its position in 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 worth $123,000 after buying an additional 371 shares in the last quarter. Catalyst Capital Advisors LLC purchased a new position in Rexford Industrial Realty in the third quarter valued at about $129,000. Finally, International Assets Investment Management LLC increased its holdings in Rexford Industrial Realty by 4,835.8% in the third quarter. International Assets Investment Management LLC now owns 2,616 shares of the real estate investment trust's stock worth $132,000 after buying an additional 2,563 shares during the last quarter. 99.52% of the stock is currently owned by institutional investors and hedge funds.

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Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on REXR shares. Truist Financial reduced their target price on Rexford Industrial Realty from $54.00 to $50.00 and set a "buy" rating for the company in a report on Tuesday, November 12th. Robert W. Baird lowered their target price on shares of Rexford Industrial Realty from $48.00 to $47.00 and set a "neutral" rating on the stock in a research note on Tuesday. JPMorgan Chase & Co. lowered 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, February 13th. Scotiabank cut their price objective on 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. Finally, Deutsche Bank Aktiengesellschaft started coverage on shares of Rexford Industrial Realty in a research note on Tuesday, January 14th. They set a "hold" rating and a $40.00 price target on the stock. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Hold" and an average price target of $48.50.

Rexford Industrial Realty Stock Performance

REXR traded down $0.27 during midday trading on Friday, reaching $40.47. The company had a trading volume of 2,328,737 shares, compared to its average volume of 2,007,491. Rexford Industrial Realty, Inc. has a 12-month low of $36.92 and a 12-month high of $53.88. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.30 and a current ratio of 1.30. The business has a 50-day moving average price of $39.95 and a two-hundred day moving average price of $43.70. The stock has a market cap of $9.23 billion, a PE ratio of 33.45, a P/E/G ratio of 2.62 and a beta of 0.98.

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 the consensus estimate 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 expect 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. Stockholders of record on Monday, March 31st will be paid a dividend of $0.43 per share. The ex-dividend date is Monday, March 31st. This is a boost from Rexford Industrial Realty's previous quarterly dividend of $0.42. This represents a $1.72 annualized dividend and a dividend yield of 4.25%. Rexford Industrial Realty's payout ratio is 142.15%.

Rexford Industrial Realty 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.