Rexford Industrial Realty, Inc. (NYSE:REXR) Shares Purchased by Balyasny Asset Management L.P.

Balyasny Asset Management L.P. lifted its holdings in shares of Rexford Industrial Realty, Inc. (NYSE:REXRFree Report) by 63.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,351,538 shares of the real estate investment trust’s stock after purchasing an additional 523,040 shares during the period. Balyasny Asset Management L.P. owned about 0.64% of Rexford Industrial Realty worth $75,821,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Lighthouse Investment Partners LLC purchased a new position in Rexford Industrial Realty during the fourth quarter worth $14,586,000. HGI Capital Management LLC lifted its holdings in Rexford Industrial Realty by 63.9% in the 4th quarter. HGI Capital Management LLC now owns 65,831 shares of the real estate investment trust’s stock valued at $3,693,000 after purchasing an additional 25,662 shares in the last quarter. State of Tennessee Treasury Department boosted its stake in shares of Rexford Industrial Realty by 1,552.7% during the 4th quarter. State of Tennessee Treasury Department now owns 330,539 shares of the real estate investment trust’s stock worth $18,543,000 after purchasing an additional 310,539 shares during the last quarter. Verition Fund Management LLC grew its holdings in shares of Rexford Industrial Realty by 319.7% during the fourth quarter. Verition Fund Management LLC now owns 181,407 shares of the real estate investment trust’s stock worth $10,177,000 after buying an additional 138,187 shares in the last quarter. Finally, Waterfront Capital Partners LLC raised its position in shares of Rexford Industrial Realty by 24.8% in the fourth quarter. Waterfront Capital Partners LLC now owns 1,021,626 shares of the real estate investment trust’s stock valued at $57,313,000 after buying an additional 203,330 shares during the last quarter. 99.52% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the company. Truist Financial decreased their price objective on Rexford Industrial Realty from $53.00 to $50.00 and set a “buy” rating on the stock in a report on Thursday, May 2nd. Robert W. Baird decreased their price target 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. Barclays upped their price objective on shares of 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 decreased their target price on shares of Rexford Industrial Realty from $55.00 to $51.00 and set a “sector outperform” rating on the stock in a research report on Thursday, May 16th. Finally, Wedbush initiated coverage on shares of Rexford Industrial Realty in a research report on Monday, April 22nd. They set a “neutral” rating and a $45.00 price target for the company. Two analysts have rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, Rexford Industrial Realty currently has an average rating of “Hold” and a consensus target price of $52.82.

Check Out Our Latest Stock Analysis on REXR

Rexford Industrial Realty Stock Performance

Shares of REXR stock opened at $44.08 on Tuesday. The company’s fifty day simple moving average is $45.03 and its 200-day simple moving average is $50.24. The company has a current ratio of 3.21, a quick ratio of 3.21 and a debt-to-equity ratio of 0.41. Rexford Industrial Realty, Inc. has a 52 week low of $41.56 and a 52 week high of $58.02. The company has a market cap of $9.60 billion, a PE ratio of 40.44, a P/E/G ratio of 1.78 and a beta of 0.93.

Rexford Industrial Realty (NYSE:REXRGet Free Report) last issued its quarterly earnings data on Thursday, April 18th. The real estate investment trust reported $0.27 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 analyst estimates of $207.39 million. During the same quarter in the prior year, the firm 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, equities research analysts anticipate that Rexford Industrial Realty, Inc. will post 2.34 EPS for the current year.

Rexford Industrial Realty Cuts Dividend

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

Rexford Industrial Realty Company 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.

See Also

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

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