Daiwa Securities Group Inc. Has $4.48 Million Holdings in Rexford Industrial Realty, Inc. (NYSE:REXR)

Daiwa Securities Group Inc. grew its holdings in Rexford Industrial Realty, Inc. (NYSE:REXR) by 1.5% during the fourth quarter, Holdings Channel.com reports. The firm owned 79,851 shares of the real estate investment trust’s stock after acquiring an additional 1,171 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Rexford Industrial Realty were worth $4,480,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Envestnet Asset Management Inc. increased its holdings in Rexford Industrial Realty by 139.5% during the third quarter. Envestnet Asset Management Inc. now owns 232,848 shares of the real estate investment trust’s stock worth $11,491,000 after buying an additional 135,627 shares during the last quarter. Pacer Advisors Inc. increased its holdings in Rexford Industrial Realty by 12.8% during the fourth quarter. Pacer Advisors Inc. now owns 207,609 shares of the real estate investment trust’s stock worth $11,647,000 after buying an additional 23,510 shares during the last quarter. Louisiana State Employees Retirement System acquired a new position in Rexford Industrial Realty during the fourth quarter worth $3,327,000. The Manufacturers Life Insurance Company increased its holdings in Rexford Industrial Realty by 6.8% during the third quarter. The Manufacturers Life Insurance Company now owns 314,170 shares of the real estate investment trust’s stock worth $15,506,000 after buying an additional 19,981 shares during the last quarter. Finally, Citigroup Inc. increased its holdings in Rexford Industrial Realty by 63.9% during the third quarter. Citigroup Inc. now owns 104,103 shares of the real estate investment trust’s stock worth $5,137,000 after buying an additional 40,587 shares during the last quarter. 99.52% of the stock is currently owned by institutional investors and hedge funds.

Rexford Industrial Realty Trading Down 1.0 %

Shares of Rexford Industrial Realty stock opened at $42.74 on Friday. Rexford Industrial Realty, Inc. has a 52-week low of $41.56 and a 52-week high of $58.02. The firm has a 50-day moving average of $50.42 and a 200-day moving average of $50.63. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.35 and a current ratio of 3.21. The stock has a market cap of $9.31 billion, a PE ratio of 39.21, a PEG ratio of 1.91 and a beta of 0.86.

Rexford Industrial Realty (NYSE:REXR) last posted its quarterly earnings data 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). Rexford Industrial Realty had a return on equity of 3.04% and a net margin of 28.84%. The firm had revenue of $214.10 million for the quarter, compared to the consensus estimate of $207.39 million. During the same period in the prior year, the company earned $0.52 EPS. The company’s revenue for the quarter was up 15.0% compared to the same quarter last year. As a group, sell-side analysts forecast that Rexford Industrial Realty, Inc. will post 2.33 EPS for the current year.

Rexford Industrial Realty Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Friday, June 28th will be given a dividend of $0.417 per share. The ex-dividend date is Friday, June 28th. This represents a $1.67 annualized dividend and a yield of 3.90%. Rexford Industrial Realty’s dividend payout ratio is 153.21%.

Analysts Set New Price Targets

A number of brokerages recently weighed in on REXR. JPMorgan Chase & Co. downgraded shares of Rexford Industrial Realty from an “overweight” rating to a “neutral” rating and set a $55.00 target price on the stock. in a report on Wednesday, February 7th. Mizuho reaffirmed a “neutral” rating and set a $52.00 price objective on shares of Rexford Industrial Realty in a research report on Tuesday, April 2nd. TheStreet raised shares of Rexford Industrial Realty from a “c+” rating to a “b-” rating in a research report on Thursday, February 1st. Barclays assumed coverage on shares of Rexford Industrial Realty in a research report on Wednesday, March 27th. They set an “underweight” rating and a $45.00 price objective for the company. Finally, Truist Financial reduced their price objective on shares of Rexford Industrial Realty from $57.00 to $53.00 and set a “buy” rating for the company in a research report on Tuesday. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $55.60.

Insider Buying and Selling

In related news, General Counsel David E. Lanzer sold 18,113 shares of the company’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $52.69, for a total transaction of $954,373.97. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 1.10% of the stock is currently owned by company insiders.

Rexford Industrial Realty 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.