Mutual of America Capital Management LLC Lowers Stake in Rexford Industrial Realty, Inc. (NYSE:REXR)

Mutual of America Capital Management LLC decreased its position in shares of Rexford Industrial Realty, Inc. (NYSE:REXR) by 1.0% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 117,263 shares of the real estate investment trust’s stock after selling 1,128 shares during the period. Mutual of America Capital Management LLC owned 0.05% of Rexford Industrial Realty worth $4,533,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. JPMorgan Chase & Co. raised its holdings in Rexford Industrial Realty by 26.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 4,503,571 shares of the real estate investment trust’s stock valued at $226,575,000 after acquiring an additional 954,202 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Rexford Industrial Realty by 1.9% in the third quarter. Geode Capital Management LLC now owns 4,074,044 shares of the real estate investment trust’s stock valued at $205,014,000 after purchasing an additional 74,865 shares during the period. Massachusetts Financial Services Co. MA increased its stake in Rexford Industrial Realty by 14.8% in the third quarter. Massachusetts Financial Services Co. MA now owns 3,339,219 shares of the real estate investment trust’s stock valued at $167,996,000 after purchasing an additional 431,659 shares during the last quarter. Wellington Management Group LLP lifted its position in Rexford Industrial Realty by 1.9% during the third quarter. Wellington Management Group LLP now owns 2,265,637 shares of the real estate investment trust’s stock worth $113,984,000 after buying an additional 42,450 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Rexford Industrial Realty by 338.0% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,930,706 shares of the real estate investment trust’s stock worth $97,134,000 after buying an additional 1,489,876 shares during the last quarter. Institutional investors and hedge funds own 99.52% of the company’s stock.

Rexford Industrial Realty Price Performance

Shares of NYSE REXR opened at $40.41 on Wednesday. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.30 and a quick ratio of 1.30. Rexford Industrial Realty, Inc. has a 1-year low of $36.92 and a 1-year high of $53.88. The company has a market capitalization of $9.21 billion, a price-to-earnings ratio of 33.39, a PEG ratio of 2.62 and a beta of 0.98. The business has a 50-day moving average of $39.86 and a 200-day moving average of $43.74.

Rexford Industrial Realty (NYSE:REXR) last issued its quarterly earnings data on Wednesday, February 5th. The real estate investment trust reported $0.58 earnings per share (EPS) for the quarter, beating 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%. On average, equities analysts anticipate 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. Shareholders of record on Monday, March 31st will be issued a $0.43 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $1.72 dividend on an annualized basis and a yield of 4.26%. This is a positive change from Rexford Industrial Realty’s previous quarterly dividend of $0.42. Rexford Industrial Realty’s payout ratio is currently 142.15%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. Robert W. Baird dropped 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. Deutsche Bank Aktiengesellschaft began 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 target for the company. Truist Financial decreased their price target on shares of Rexford Industrial Realty from $54.00 to $50.00 and set a “buy” rating on the stock in a report on Tuesday, November 12th. Mizuho dropped their price objective on Rexford Industrial Realty from $46.00 to $45.00 and set a “neutral” rating for the company in a report on Wednesday, January 8th. Finally, Barclays cut their target price on 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. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $48.50.

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.