Lindbrook Capital LLC Raises Holdings in Rexford Industrial Realty, Inc. (NYSE:REXR)

Lindbrook Capital LLC lifted its holdings in shares of Rexford Industrial Realty, Inc. (NYSE:REXR) by 4.9% during the fourth quarter, Holdings Channel.com reports. The fund owned 5,554 shares of the real estate investment trust’s stock after acquiring an additional 259 shares during the period. Lindbrook Capital LLC’s holdings in Rexford Industrial Realty were worth $312,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Envestnet Asset Management Inc. boosted its position in Rexford Industrial Realty by 139.5% in the third quarter. Envestnet Asset Management Inc. now owns 232,848 shares of the real estate investment trust’s stock valued at $11,491,000 after buying an additional 135,627 shares during the last quarter. Pacer Advisors Inc. boosted its position in Rexford Industrial Realty by 12.8% in the fourth quarter. Pacer Advisors Inc. now owns 207,609 shares of the real estate investment trust’s stock valued at $11,647,000 after buying an additional 23,510 shares during the last quarter. Louisiana State Employees Retirement System purchased a new stake in Rexford Industrial Realty in the fourth quarter valued at approximately $3,327,000. Daiwa Securities Group Inc. boosted its position in Rexford Industrial Realty by 1.5% in the fourth quarter. Daiwa Securities Group Inc. now owns 79,851 shares of the real estate investment trust’s stock valued at $4,480,000 after buying an additional 1,171 shares during the last quarter. Finally, The Manufacturers Life Insurance Company boosted its position in Rexford Industrial Realty by 6.8% in the third quarter. The Manufacturers Life Insurance Company now owns 314,170 shares of the real estate investment trust’s stock valued at $15,506,000 after buying an additional 19,981 shares during the last quarter. Hedge funds and other institutional investors own 99.52% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently commented on REXR shares. TheStreet upgraded Rexford Industrial Realty from a “c+” rating to a “b-” rating in a research report on Thursday, February 1st. Mizuho restated a “neutral” rating and issued a $52.00 price objective on shares of Rexford Industrial Realty in a research report on Tuesday, April 2nd. JPMorgan Chase & Co. lowered Rexford Industrial Realty from an “overweight” rating to a “neutral” rating and set a $55.00 price objective on the stock. in a research report on Wednesday, February 7th. Robert W. Baird restated a “neutral” rating and issued a $61.00 price objective (up previously from $53.00) on shares of Rexford Industrial Realty in a research report on Friday, January 5th. Finally, Truist Financial lowered their price objective on Rexford Industrial Realty from $57.00 to $53.00 and set a “buy” rating on the stock in a research report on Tuesday, April 16th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $55.60.

Insider Transactions at Rexford Industrial Realty

In other Rexford Industrial Realty news, General Counsel David E. Lanzer sold 18,113 shares of Rexford Industrial Realty stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $52.69, for a total transaction of $954,373.97. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 1.10% of the company’s stock.

Rexford Industrial Realty Price Performance

Shares of NYSE REXR opened at $42.74 on Monday. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.35 and a current ratio of 3.21. Rexford Industrial Realty, Inc. has a fifty-two week low of $41.56 and a fifty-two week high of $58.02. The firm has a market capitalization of $9.31 billion, a PE ratio of 39.21, a price-to-earnings-growth ratio of 1.89 and a beta of 0.86. The stock’s 50-day simple moving average is $50.22 and its 200-day simple moving average is $50.63.

Rexford Industrial Realty (NYSE:REXR) last issued its 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). Rexford Industrial Realty had a return on equity of 3.04% and a net margin of 28.84%. The business had revenue of $214.10 million for the quarter, compared to analyst estimates of $207.39 million. During the same period last year, the business posted $0.52 EPS. Rexford Industrial Realty’s revenue was up 15.0% on a year-over-year basis. As a group, equities research analysts forecast that Rexford Industrial Realty, Inc. will post 2.33 EPS for the current fiscal year.

Rexford Industrial Realty Cuts Dividend

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

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.