Rexford Industrial Realty, Inc. (NYSE:REXR) Shares Acquired by Goldman Sachs Group Inc.

Goldman Sachs Group Inc. grew its stake in Rexford Industrial Realty, Inc. (NYSE:REXR) by 20.2% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 943,539 shares of the real estate investment trust’s stock after purchasing an additional 158,431 shares during the period. Goldman Sachs Group Inc. owned approximately 0.44% of Rexford Industrial Realty worth $52,933,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also made changes to their positions in the company. Norges Bank purchased a new position in Rexford Industrial Realty in the fourth quarter worth approximately $157,685,000. Capital International Investors acquired a new stake in shares of Rexford Industrial Realty in the fourth quarter valued at $139,522,000. Boston Partners raised its stake 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. Schonfeld Strategic Advisors LLC raised its stake in shares of Rexford Industrial Realty by 267.6% in the third quarter. Schonfeld Strategic Advisors LLC now owns 1,003,426 shares of the real estate investment trust’s stock valued at $49,519,000 after acquiring an additional 730,424 shares in the last quarter. Finally, Westfield Capital Management Co. LP acquired a new stake in shares of Rexford Industrial Realty in the fourth quarter valued at $35,903,000. 99.52% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

REXR has been the topic of several analyst reports. Robert W. Baird reduced their price objective on Rexford Industrial Realty from $57.00 to $49.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 1st. Wedbush began coverage on Rexford Industrial Realty in a research note on Monday, April 22nd. They issued a “neutral” rating and a $45.00 price target on the stock. Scotiabank cut their price target 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. Mizuho cut their price target 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. Finally, Truist Financial cut their price target on Rexford Industrial Realty from $53.00 to $50.00 and set a “buy” rating on the stock in a research note on Thursday, May 2nd. Two analysts have rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, Rexford Industrial Realty currently has a consensus rating of “Hold” and a consensus target price of $52.44.

Rexford Industrial Realty Stock Performance

Shares of REXR stock opened at $44.02 on Thursday. The stock’s 50-day moving average is $44.48 and its two-hundred day moving average is $50.03. The firm has a market cap of $9.59 billion, a price-to-earnings ratio of 40.39, a PEG ratio of 1.82 and a beta of 0.93. Rexford Industrial Realty, Inc. has a 1 year low of $41.56 and a 1 year high of $58.02. 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:REXR) last released its quarterly earnings results on Thursday, April 18th. The real estate investment trust reported $0.27 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.30). Rexford Industrial Realty had a return on equity of 3.04% and a net margin of 28.84%. The company had revenue of $214.10 million for the quarter, compared to analysts’ expectations of $207.39 million. During the same period in the prior year, the business earned $0.52 EPS. The business’s quarterly revenue was up 15.0% compared to the same quarter last year. Analysts predict that Rexford Industrial Realty, Inc. will post 2.34 earnings per share for the current year.

Rexford Industrial Realty Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Friday, June 28th will be issued a $0.417 dividend. This represents a $1.67 dividend on an annualized basis and a yield of 3.79%. The ex-dividend date is Friday, June 28th. Rexford Industrial Realty’s dividend payout ratio is presently 153.21%.

Rexford Industrial Realty Company Profile

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.