AR Asset Management Inc. Lowers Stock Position in Rexford Industrial Realty, Inc. (NYSE:REXR)

AR Asset Management Inc. cut its stake in shares of Rexford Industrial Realty, Inc. (NYSE:REXR) by 41.2% in the fourth quarter, Holdings Channel.com reports. The fund owned 28,600 shares of the real estate investment trust’s stock after selling 20,000 shares during the period. AR Asset Management Inc.’s holdings in Rexford Industrial Realty were worth $1,106,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. UMB Bank n.a. increased its holdings in Rexford Industrial Realty by 38.9% in the 4th quarter. UMB Bank n.a. now owns 999 shares of the real estate investment trust’s stock valued at $39,000 after purchasing an additional 280 shares during the last quarter. Archer Investment Corp boosted its position in shares of Rexford Industrial Realty by 61.5% during the third quarter. Archer Investment Corp now owns 2,100 shares of the real estate investment trust’s stock worth $106,000 after buying an additional 800 shares during the period. Catalyst Capital Advisors LLC acquired a new stake in shares of Rexford Industrial Realty in the third quarter valued at $129,000. International Assets Investment Management LLC raised its holdings in shares of Rexford Industrial Realty by 4,835.8% in the 3rd quarter. International Assets Investment Management LLC now owns 2,616 shares of the real estate investment trust’s stock valued at $132,000 after buying an additional 2,563 shares during the period. Finally, Signaturefd LLC lifted its stake in Rexford Industrial Realty by 22.2% during the 3rd quarter. Signaturefd LLC now owns 2,637 shares of the real estate investment trust’s stock worth $133,000 after acquiring an additional 479 shares in the last quarter. 99.52% of the stock is owned by hedge funds and other institutional investors.

Rexford Industrial Realty Stock Down 0.7 %

Rexford Industrial Realty stock opened at $40.48 on Friday. The stock has a market cap of $9.23 billion, a PE ratio of 33.45, a P/E/G ratio of 2.62 and a beta of 0.95. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.30 and a quick ratio of 1.30. The stock’s fifty day moving average is $39.58 and its two-hundred day moving average is $44.25. Rexford Industrial Realty, Inc. has a 1-year low of $36.92 and a 1-year high of $53.88.

Rexford Industrial Realty (NYSE:REXR) 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 return on equity of 3.26% and a net margin of 29.10%. On average, sell-side analysts expect that Rexford Industrial Realty, Inc. will post 2.38 EPS for the current fiscal year.

Rexford Industrial Realty Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be given a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a dividend yield of 4.25%. The ex-dividend date is Monday, March 31st. This is an increase from Rexford Industrial Realty’s previous quarterly dividend of $0.42. Rexford Industrial Realty’s payout ratio is currently 138.02%.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on REXR shares. Barclays dropped their target price on Rexford Industrial Realty from $44.00 to $41.00 and set an “underweight” rating for the company in a research report on Monday, January 13th. JPMorgan Chase & Co. cut their target price 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. Deutsche Bank Aktiengesellschaft began coverage on shares of Rexford Industrial Realty in a report on Tuesday, January 14th. They set a “hold” rating and a $40.00 target price on the stock. Scotiabank downgraded shares of Rexford Industrial Realty from a “sector outperform” rating to a “sector perform” rating and dropped their price target for the stock from $55.00 to $48.00 in a research note on Friday, October 25th. Finally, Truist Financial reduced their price objective on 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. 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’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $48.75.

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.