Van ECK Associates Corp Has $3.92 Million Stock Position in Rexford Industrial Realty, Inc. (NYSE:REXR)

Van ECK Associates Corp boosted its stake in shares of Rexford Industrial Realty, Inc. (NYSE:REXR) by 0.7% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 101,386 shares of the real estate investment trust’s stock after purchasing an additional 664 shares during the period. Van ECK Associates Corp’s holdings in Rexford Industrial Realty were worth $3,919,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in REXR. Louisiana State Employees Retirement System lifted its position in Rexford Industrial Realty by 1.5% during the fourth quarter. Louisiana State Employees Retirement System now owns 61,600 shares of the real estate investment trust’s stock worth $2,381,000 after acquiring an additional 900 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd lifted its stake in Rexford Industrial Realty by 7.9% during the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 42,845 shares of the real estate investment trust’s stock worth $1,656,000 after purchasing an additional 3,146 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. grew its position in Rexford Industrial Realty by 0.9% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 240,682 shares of the real estate investment trust’s stock valued at $9,305,000 after acquiring an additional 2,129 shares during the last quarter. State of Alaska Department of Revenue boosted its position in Rexford Industrial Realty by 0.9% in the fourth quarter. State of Alaska Department of Revenue now owns 131,519 shares of the real estate investment trust’s stock valued at $5,083,000 after buying an additional 1,210 shares in the last quarter. Finally, Retirement Systems of Alabama raised its position in Rexford Industrial Realty by 0.7% in the fourth quarter. Retirement Systems of Alabama now owns 588,518 shares of the real estate investment trust’s stock valued at $22,752,000 after purchasing an additional 3,817 shares during the last quarter. 99.52% of the stock is owned by institutional investors.

Rexford Industrial Realty Stock Down 0.1 %

REXR stock opened at $40.95 on Thursday. The company has a market cap of $9.34 billion, a price-to-earnings ratio of 33.84, a P/E/G ratio of 2.60 and a beta of 0.95. 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 business’s 50-day moving average is $39.58 and its two-hundred day moving average is $44.32. Rexford Industrial Realty, Inc. has a fifty-two week low of $36.92 and a fifty-two week high of $53.88.

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

Rexford Industrial Realty Increases Dividend

The company 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. This is an increase from Rexford Industrial Realty’s previous quarterly dividend of $0.42. The ex-dividend date of this dividend is Monday, March 31st. This represents a $1.72 dividend on an annualized basis and a yield of 4.20%. Rexford Industrial Realty’s payout ratio is presently 138.02%.

Analyst Ratings Changes

Several research analysts have issued reports on the stock. Truist Financial lowered their price target on shares of Rexford Industrial Realty from $54.00 to $50.00 and set a “buy” rating for the company in a report on Tuesday, November 12th. Mizuho lowered their price objective on shares of Rexford Industrial Realty from $46.00 to $45.00 and set a “neutral” rating on the stock in a report on Wednesday, January 8th. Scotiabank downgraded shares of Rexford Industrial Realty from a “sector outperform” rating to a “sector perform” rating and cut their price objective for the stock from $55.00 to $48.00 in a report on Friday, October 25th. JPMorgan Chase & Co. dropped their price target on Rexford Industrial Realty from $45.00 to $44.00 and set a “neutral” rating on the stock in a report on Thursday, February 13th. Finally, Barclays dropped their price objective on 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. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, Rexford Industrial Realty currently has a consensus rating of “Hold” and a consensus price target 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.