Verition Fund Management LLC Buys 138,187 Shares of Rexford Industrial Realty, Inc. (NYSE:REXR)

Verition Fund Management LLC grew its stake in shares of Rexford Industrial Realty, Inc. (NYSE:REXRFree Report) by 319.7% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 181,407 shares of the real estate investment trust’s stock after purchasing an additional 138,187 shares during the period. Verition Fund Management LLC owned about 0.09% of Rexford Industrial Realty worth $10,177,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in REXR. GAMMA Investing LLC purchased a new position in shares of Rexford Industrial Realty in the 4th quarter worth approximately $41,000. Principal Securities Inc. purchased a new position in shares of Rexford Industrial Realty in the 4th quarter worth approximately $96,000. International Assets Investment Management LLC boosted its stake in shares of Rexford Industrial Realty by 5,510.9% in the 4th quarter. International Assets Investment Management LLC now owns 3,086 shares of the real estate investment trust’s stock worth $173,000 after buying an additional 3,031 shares during the last quarter. Cetera Trust Company N.A purchased a new position in shares of Rexford Industrial Realty in the 4th quarter worth approximately $189,000. Finally, Shell Asset Management Co. boosted its stake in shares of Rexford Industrial Realty by 20.0% in the 3rd quarter. Shell Asset Management Co. now owns 4,540 shares of the real estate investment trust’s stock worth $224,000 after buying an additional 758 shares during the last quarter. 99.52% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on REXR shares. Wedbush started coverage on Rexford Industrial Realty in a research note on Monday, April 22nd. They issued a “neutral” rating and a $45.00 price objective on the stock. Mizuho dropped their price objective on Rexford Industrial Realty from $52.00 to $50.00 and set a “neutral” rating on the stock in a research note on Friday, May 31st. Barclays upped their price objective on Rexford Industrial Realty from $45.00 to $46.00 and gave the company an “underweight” rating in a research note on Tuesday, April 23rd. Scotiabank dropped their price objective on Rexford Industrial Realty from $55.00 to $51.00 and set a “sector outperform” rating on the stock in a research note on Thursday, May 16th. Finally, Truist Financial lowered their target price on shares of Rexford Industrial Realty from $53.00 to $50.00 and set a “buy” rating on the stock in a report on Thursday, May 2nd. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, Rexford Industrial Realty has an average rating of “Hold” and a consensus price target of $52.82.

Get Our Latest Stock Report on REXR

Rexford Industrial Realty Trading Down 0.1 %

Rexford Industrial Realty stock opened at $44.08 on Tuesday. The stock has a market cap of $9.60 billion, a P/E ratio of 40.44, a PEG ratio of 1.78 and a beta of 0.93. Rexford Industrial Realty, Inc. has a fifty-two week low of $41.56 and a fifty-two week high of $58.02. The firm’s fifty day moving average price is $45.03 and its 200-day moving average price is $50.24. The company has a debt-to-equity ratio of 0.41, a quick ratio of 3.21 and a current ratio of 3.21.

Rexford Industrial Realty (NYSE:REXRGet Free Report) last released its quarterly earnings results on Thursday, April 18th. The real estate investment trust reported $0.27 earnings per share for the quarter, missing the consensus estimate of $0.57 by ($0.30). The firm had revenue of $214.10 million during the quarter, compared to the consensus estimate of $207.39 million. Rexford Industrial Realty had a return on equity of 3.04% and a net margin of 28.84%. The company’s revenue for the quarter was up 15.0% compared to the same quarter last year. During the same period in the previous year, the company posted $0.52 EPS. Equities research analysts forecast that Rexford Industrial Realty, Inc. will post 2.34 earnings per share for the current fiscal year.

Rexford Industrial Realty Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Friday, June 28th will be issued a $0.417 dividend. The ex-dividend date is Friday, June 28th. This represents a $1.67 annualized dividend and a dividend yield of 3.78%. Rexford Industrial Realty’s payout ratio is currently 153.21%.

Rexford Industrial Realty Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Rexford Industrial Realty (NYSE:REXR)

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