Paradigm Asset Management Co. LLC Buys New Shares in Rexford Industrial Realty, Inc. (NYSE:REXR)

Paradigm Asset Management Co. LLC bought a new stake in shares of Rexford Industrial Realty, Inc. (NYSE:REXR) in the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 28,000 shares of the real estate investment trust’s stock, valued at approximately $1,082,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. JPMorgan Chase & Co. increased its holdings in Rexford Industrial Realty by 26.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 4,503,571 shares of the real estate investment trust’s stock valued at $226,575,000 after buying an additional 954,202 shares during the period. Geode Capital Management LLC increased its holdings in Rexford Industrial Realty by 1.9% in the 3rd quarter. Geode Capital Management LLC now owns 4,074,044 shares of the real estate investment trust’s stock valued at $205,014,000 after buying an additional 74,865 shares during the period. Massachusetts Financial Services Co. MA increased its holdings in Rexford Industrial Realty by 14.8% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 3,339,219 shares of the real estate investment trust’s stock valued at $167,996,000 after buying an additional 431,659 shares during the period. Wellington Management Group LLP increased its holdings in Rexford Industrial Realty by 1.9% in the 3rd quarter. Wellington Management Group LLP now owns 2,265,637 shares of the real estate investment trust’s stock valued at $113,984,000 after buying an additional 42,450 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Rexford Industrial Realty by 338.0% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,930,706 shares of the real estate investment trust’s stock valued at $97,134,000 after buying an additional 1,489,876 shares during the period. Institutional investors own 99.52% of the company’s stock.

Wall Street Analysts Forecast Growth

REXR has been the topic of several analyst reports. JPMorgan Chase & Co. lowered their price target on shares of Rexford Industrial Realty from $45.00 to $44.00 and set a “neutral” rating on the stock in a report on Thursday, February 13th. Truist Financial lowered their target price on shares of Rexford Industrial Realty from $54.00 to $50.00 and set a “buy” rating on the stock in a report on Tuesday, November 12th. Scotiabank lowered shares of Rexford Industrial Realty from a “sector outperform” rating to a “sector perform” rating and lowered their target price for the stock from $55.00 to $48.00 in a report on Friday, October 25th. Mizuho lowered their target price 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. Finally, Barclays lowered their target price on shares of Rexford Industrial Realty from $44.00 to $41.00 and set an “underweight” rating on the stock in a report on Monday, January 13th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, Rexford Industrial Realty has an average rating of “Hold” and a consensus price target of $48.75.

Rexford Industrial Realty Price Performance

NYSE:REXR opened at $40.83 on Friday. Rexford Industrial Realty, Inc. has a 1-year low of $36.92 and a 1-year high of $53.88. The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 0.39. The firm has a fifty day simple moving average of $39.59 and a 200 day simple moving average of $44.30. The stock has a market capitalization of $9.31 billion, a PE ratio of 33.74, a P/E/G ratio of 2.63 and a beta of 0.95.

Rexford Industrial Realty (NYSE:REXR) last posted its earnings results on Wednesday, February 5th. The real estate investment trust reported $0.58 earnings per share for the quarter, topping 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%. On average, research analysts expect that Rexford Industrial Realty, Inc. will post 2.38 EPS for the current fiscal year.

Rexford Industrial Realty Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be given a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a yield of 4.21%. The ex-dividend date is Monday, March 31st. This is a boost from Rexford Industrial Realty’s previous quarterly dividend of $0.42. Rexford Industrial Realty’s payout ratio is currently 138.02%.

About Rexford Industrial Realty

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.