Van ECK Associates Corp Has $5.07 Million Stock Position in Rexford Industrial Realty, Inc. (NYSE:REXR)

Van ECK Associates Corp lifted its stake in Rexford Industrial Realty, Inc. (NYSE:REXR - Free Report) by 15.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 100,722 shares of the real estate investment trust's stock after acquiring an additional 13,709 shares during the quarter. Van ECK Associates Corp's holdings in Rexford Industrial Realty were worth $5,067,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Vanguard Group Inc. lifted its stake in Rexford Industrial Realty by 2.6% in the first quarter. Vanguard Group Inc. now owns 29,734,952 shares of the real estate investment trust's stock valued at $1,495,668,000 after acquiring an additional 753,098 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its stake in shares of Rexford Industrial Realty by 26.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 19,933,431 shares of the real estate investment trust's stock valued at $1,002,654,000 after purchasing an additional 4,197,907 shares during the last quarter. Capital International Investors boosted its holdings in Rexford Industrial Realty by 687.7% in the first quarter. Capital International Investors now owns 19,590,676 shares of the real estate investment trust's stock worth $985,411,000 after purchasing an additional 17,103,653 shares in the last quarter. Centersquare Investment Management LLC boosted its holdings in Rexford Industrial Realty by 1.1% in the first quarter. Centersquare Investment Management LLC now owns 3,938,026 shares of the real estate investment trust's stock worth $198,083,000 after purchasing an additional 42,632 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its position in Rexford Industrial Realty by 6.4% during the second quarter. Dimensional Fund Advisors LP now owns 3,326,694 shares of the real estate investment trust's stock worth $148,337,000 after buying an additional 200,027 shares during the last quarter. 99.52% of the stock is currently owned by hedge funds and other institutional investors.

Rexford Industrial Realty Stock Performance

Shares of REXR traded up $0.52 during trading hours on Friday, reaching $43.11. 1,223,768 shares of the company traded hands, compared to its average volume of 1,723,509. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.20 and a current ratio of 1.20. The stock's fifty day moving average is $47.76 and its 200 day moving average is $47.08. Rexford Industrial Realty, Inc. has a 1-year low of $41.89 and a 1-year high of $58.02. The stock has a market cap of $9.59 billion, a P/E ratio of 35.05, a price-to-earnings-growth ratio of 2.04 and a beta of 0.94.

Rexford Industrial Realty (NYSE:REXR - Get Free Report) last posted its quarterly earnings results on Wednesday, October 16th. The real estate investment trust reported $0.30 EPS for the quarter, missing the consensus estimate of $0.58 by ($0.28). Rexford Industrial Realty had a net margin of 30.40% and a return on equity of 3.35%. The firm had revenue of $241.84 million during the quarter, compared to analyst estimates of $235.81 million. During the same period last year, the company earned $0.56 EPS. The company's revenue was up 17.7% on a year-over-year basis. Equities research analysts anticipate that Rexford Industrial Realty, Inc. will post 2.34 earnings per share for the current fiscal year.

Rexford Industrial Realty Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be paid a dividend of $0.4175 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $1.67 dividend on an annualized basis and a yield of 3.87%. Rexford Industrial Realty's dividend payout ratio is currently 135.77%.

Wall Street Analysts Forecast Growth

REXR has been the subject of several recent analyst reports. JPMorgan Chase & Co. upped their price target on Rexford Industrial Realty from $47.00 to $52.00 and gave the stock a "neutral" rating in a research note on Thursday, July 25th. Scotiabank downgraded Rexford Industrial Realty from a "sector outperform" rating to a "sector perform" rating and lowered their price target for the company from $55.00 to $48.00 in a report on Friday, October 25th. Truist Financial boosted their price objective on shares of Rexford Industrial Realty from $50.00 to $54.00 and gave the stock a "buy" rating in a research note on Tuesday, July 30th. Industrial Alliance Securities set a $55.00 target price on shares of Rexford Industrial Realty in a research note on Friday, October 18th. Finally, Evercore ISI reissued an "outperform" rating on shares of Rexford Industrial Realty in a research report on Friday, October 18th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $51.45.

Insider Buying and Selling at Rexford Industrial Realty

In other news, CFO Laura E. Clark sold 14,185 shares of the firm's stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $50.15, for a total transaction of $711,377.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 1.20% of the company's stock.

Rexford Industrial Realty Company Profile

Rexford Industrial creates value by investing in, operating and redeveloping industrial properties throughout infill Southern California, the world's fourth largest industrial market and consistently the highest-demand with lowest-supply major market in the nation. The Company's highly differentiated strategy enables internal and external growth opportunities through its proprietary value creation and asset management capabilities.