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

New York Life Investment Management LLC reduced its position in shares of Rexford Industrial Realty, Inc. (NYSE:REXR) by 71.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 23,303 shares of the real estate investment trust’s stock after selling 56,945 shares during the period. New York Life Investment Management LLC’s holdings in Rexford Industrial Realty were worth $901,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Oregon Public Employees Retirement Fund lifted its position in shares of Rexford Industrial Realty by 2.0% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 45,144 shares of the real estate investment trust’s stock worth $1,745,000 after purchasing an additional 872 shares during the last quarter. Amalgamated Bank lifted its position in shares of Rexford Industrial Realty by 0.9% during the 4th quarter. Amalgamated Bank now owns 105,243 shares of the real estate investment trust’s stock worth $4,069,000 after purchasing an additional 962 shares during the last quarter. Bank of New York Mellon Corp lifted its position in shares of Rexford Industrial Realty by 1.4% during the 4th quarter. Bank of New York Mellon Corp now owns 1,777,062 shares of the real estate investment trust’s stock worth $68,701,000 after purchasing an additional 23,736 shares during the last quarter. Impax Asset Management Group plc lifted its position in shares of Rexford Industrial Realty by 63.6% during the 4th quarter. Impax Asset Management Group plc now owns 21,691 shares of the real estate investment trust’s stock worth $839,000 after purchasing an additional 8,431 shares during the last quarter. Finally, Rothschild Investment LLC lifted its position in shares of Rexford Industrial Realty by 760,280.0% during the 4th quarter. Rothschild Investment LLC now owns 38,019 shares of the real estate investment trust’s stock worth $1,470,000 after purchasing an additional 38,014 shares during the last quarter. 99.52% of the stock is owned by hedge funds and other institutional investors.

Rexford Industrial Realty Trading Down 0.6 %

NYSE REXR opened at $41.07 on Tuesday. 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 firm has a market cap of $9.36 billion, a PE ratio of 33.94, a P/E/G ratio of 2.62 and a beta of 0.95. Rexford Industrial Realty, Inc. has a one year low of $36.92 and a one year high of $53.88. The firm’s fifty day moving average is $39.82 and its two-hundred day moving average is $43.81.

Rexford Industrial Realty (NYSE:REXR) last posted its quarterly earnings data on Wednesday, February 5th. The real estate investment trust reported $0.58 EPS for the quarter, beating analysts’ consensus estimates of $0.27 by $0.31. Rexford Industrial Realty had a net margin of 29.10% and a return on equity of 3.26%. Analysts expect that Rexford Industrial Realty, Inc. will post 2.38 earnings per share for the current year.

Rexford Industrial Realty Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be paid a $0.43 dividend. The ex-dividend date of this dividend is Monday, March 31st. This is a positive change from Rexford Industrial Realty’s previous quarterly dividend of $0.42. This represents a $1.72 dividend on an annualized basis and a yield of 4.19%. Rexford Industrial Realty’s payout ratio is currently 142.15%.

Analyst Ratings Changes

REXR has been the subject of several recent analyst reports. Deutsche Bank Aktiengesellschaft initiated 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 objective for the company. JPMorgan Chase & Co. cut their price target on shares of Rexford Industrial Realty from $45.00 to $44.00 and set a “neutral” rating on the stock in a research note on Thursday, February 13th. Truist Financial cut 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 research note on Tuesday, November 12th. Barclays cut their price target on shares of Rexford Industrial Realty from $44.00 to $41.00 and set an “underweight” rating on the stock in a research note on Monday, January 13th. Finally, Scotiabank cut their price target on shares of Rexford Industrial Realty from $48.00 to $47.00 and set a “sector perform” rating on the stock in a research note on Friday. Two equities 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 company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $48.67.

Rexford Industrial Realty Company 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.