Davis Selected Advisers Grows Stock Position in Rexford Industrial Realty, Inc. (NYSE:REXR)

Davis Selected Advisers lifted its position in Rexford Industrial Realty, Inc. (NYSE:REXR - Free Report) by 62.3% in the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 339,590 shares of the real estate investment trust's stock after acquiring an additional 130,340 shares during the period. Davis Selected Advisers owned 0.15% of Rexford Industrial Realty worth $13,129,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. International Assets Investment Management LLC boosted its stake in Rexford Industrial Realty by 4,835.8% during 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 acquiring an additional 2,563 shares in the last quarter. US Bancorp DE lifted its holdings in shares of Rexford Industrial Realty by 13.8% during the third quarter. US Bancorp DE now owns 5,402 shares of the real estate investment trust's stock valued at $272,000 after purchasing an additional 653 shares during the last quarter. Van ECK Associates Corp lifted its holdings in shares of Rexford Industrial Realty by 15.8% during the third quarter. Van ECK Associates Corp now owns 100,722 shares of the real estate investment trust's stock valued at $5,067,000 after purchasing an additional 13,709 shares during the last quarter. AEGON ASSET MANAGEMENT UK Plc boosted its position in shares of Rexford Industrial Realty by 34.7% in the 3rd quarter. AEGON ASSET MANAGEMENT UK Plc now owns 32,596 shares of the real estate investment trust's stock worth $1,640,000 after purchasing an additional 8,398 shares in the last quarter. Finally, Assetmark Inc. grew its stake in shares of Rexford Industrial Realty by 19.8% in the 3rd quarter. Assetmark Inc. now owns 5,669 shares of the real estate investment trust's stock worth $285,000 after buying an additional 938 shares during the last quarter. Hedge funds and other institutional investors own 99.52% of the company's stock.

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Rexford Industrial Realty Price Performance

NYSE:REXR traded down $0.50 during trading hours on Wednesday, hitting $39.07. 2,646,808 shares of the stock traded hands, compared to its average volume of 1,823,483. The company has a market cap of $8.91 billion, a price-to-earnings ratio of 32.29, a price-to-earnings-growth ratio of 2.62 and a beta of 0.98. Rexford Industrial Realty, Inc. has a 1 year low of $36.92 and a 1 year high of $53.45. The stock has a 50 day moving average price of $40.02 and a 200 day moving average price of $43.35. The company has a quick ratio of 1.30, a current ratio of 1.30 and a debt-to-equity ratio of 0.39.

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 for the quarter, topping 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%. 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 declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be issued a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a yield of 4.40%. The ex-dividend date of this dividend is Monday, March 31st. This is a boost from Rexford Industrial Realty's previous quarterly dividend of $0.42. Rexford Industrial Realty's dividend payout ratio (DPR) is currently 142.15%.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on REXR shares. JPMorgan Chase & Co. lowered their price objective 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. Truist Financial lowered their price target on 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. Barclays cut their price objective on shares of Rexford Industrial Realty from $44.00 to $41.00 and set an "underweight" rating on the stock in a research report on Monday, January 13th. Robert W. Baird reduced their price objective on shares of Rexford Industrial Realty from $48.00 to $47.00 and set a "neutral" rating for the company in a research note on Tuesday, March 4th. Finally, Deutsche Bank Aktiengesellschaft began coverage on shares of Rexford Industrial Realty in a research note on Tuesday, January 14th. They issued a "hold" rating and a $40.00 target price on the stock. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus 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.