M&G Plc acquired a new position in shares of Rexford Industrial Realty, Inc. (NYSE:REXR – Free Report) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 672,874 shares of the real estate investment trust’s stock, valued at approximately $33,644,000. M&G Plc owned 0.31% of Rexford Industrial Realty as of its most recent filing with the Securities & Exchange Commission.
A number of other large investors also recently added to or reduced their stakes in the stock. Norges Bank purchased a new stake in shares of Rexford Industrial Realty during the fourth quarter worth about $157,685,000. Capital International Investors purchased a new stake in Rexford Industrial Realty during the 4th quarter worth approximately $139,522,000. Vanguard Group Inc. raised its holdings in shares of Rexford Industrial Realty by 4.5% during the fourth quarter. Vanguard Group Inc. now owns 28,981,854 shares of the real estate investment trust’s stock valued at $1,625,882,000 after acquiring an additional 1,235,894 shares during the last quarter. Boston Partners lifted its position in shares of Rexford Industrial Realty by 63.3% in the fourth quarter. Boston Partners now owns 2,772,565 shares of the real estate investment trust’s stock valued at $155,536,000 after acquiring an additional 1,075,005 shares in the last quarter. Finally, Daiwa Securities Group Inc. lifted its position in shares of Rexford Industrial Realty by 894.0% in the first quarter. Daiwa Securities Group Inc. now owns 793,758 shares of the real estate investment trust’s stock valued at $39,926,000 after acquiring an additional 713,907 shares in the last quarter. 99.52% of the stock is currently owned by institutional investors and hedge funds.
Rexford Industrial Realty Trading Up 0.6 %
REXR traded up $0.27 during trading hours on Friday, reaching $49.11. The company’s stock had a trading volume of 1,434,429 shares, compared to its average volume of 1,866,996. The business’s 50-day moving average is $45.50 and its 200-day moving average is $48.74. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.73 and a quick ratio of 3.21. The stock has a market cap of $10.70 billion, a PE ratio of 45.06, a P/E/G ratio of 1.99 and a beta of 0.92. Rexford Industrial Realty, Inc. has a fifty-two week low of $41.56 and a fifty-two week high of $58.02.
Rexford Industrial Realty Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 30th will be issued a $0.4175 dividend. This represents a $1.67 annualized dividend and a yield of 3.40%. The ex-dividend date of this dividend is Monday, September 30th. This is an increase from Rexford Industrial Realty’s previous quarterly dividend of $0.42. Rexford Industrial Realty’s dividend payout ratio (DPR) is 153.21%.
Wall Street Analysts Forecast Growth
Several research analysts recently commented on the company. Evercore ISI began coverage on Rexford Industrial Realty in a research note on Wednesday, July 10th. They issued an “outperform” rating and a $54.00 price objective for the company. Scotiabank reduced their target price on shares of Rexford Industrial Realty from $55.00 to $51.00 and set a “sector outperform” rating for the company in a research report on Thursday, May 16th. Mizuho lowered their price target on shares of Rexford Industrial Realty from $52.00 to $50.00 and set a “neutral” rating on the stock in a research report on Friday, May 31st. Robert W. Baird cut their price objective on shares of Rexford Industrial Realty from $57.00 to $49.00 and set a “neutral” rating for the company in a report on Wednesday, May 1st. Finally, Wedbush started coverage on Rexford Industrial Realty in a report on Monday, April 22nd. They set a “neutral” rating and a $45.00 target price on the stock. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $52.60.
Get Our Latest Analysis on Rexford Industrial Realty
About Rexford Industrial Realty
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.
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