Handelsbanken Fonder AB Has $2.46 Million Position in Rexford Industrial Realty, Inc. (NYSE:REXR)

Handelsbanken Fonder AB cut its stake in Rexford Industrial Realty, Inc. (NYSE:REXR) by 4.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 63,502 shares of the real estate investment trust’s stock after selling 2,700 shares during the quarter. Handelsbanken Fonder AB’s holdings in Rexford Industrial Realty were worth $2,455,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of REXR. CIBC Asset Management Inc increased its position in Rexford Industrial Realty by 5.7% in the 4th quarter. CIBC Asset Management Inc now owns 6,572 shares of the real estate investment trust’s stock worth $254,000 after purchasing an additional 355 shares during the last quarter. Sanctuary Advisors LLC grew its stake in shares of Rexford Industrial Realty by 18.8% in the 4th quarter. Sanctuary Advisors LLC now owns 23,782 shares of the real estate investment trust’s stock valued at $969,000 after buying an additional 3,760 shares in the last quarter. Meixler Investment Management Ltd. acquired a new position in Rexford Industrial Realty in the fourth quarter worth approximately $437,000. Rhumbline Advisers raised its position in Rexford Industrial Realty by 3.2% during the fourth quarter. Rhumbline Advisers now owns 679,817 shares of the real estate investment trust’s stock valued at $26,282,000 after acquiring an additional 21,093 shares in the last quarter. Finally, New York State Teachers Retirement System raised its position in Rexford Industrial Realty by 1.7% during the fourth quarter. New York State Teachers Retirement System now owns 213,493 shares of the real estate investment trust’s stock valued at $8,254,000 after acquiring an additional 3,559 shares in the last quarter. 99.52% of the stock is currently owned by hedge funds and other institutional investors.

Rexford Industrial Realty Price Performance

Shares of NYSE:REXR opened at $40.23 on Tuesday. The company has a market cap of $9.17 billion, a price-to-earnings ratio of 33.24, a PEG ratio of 2.62 and a beta of 0.95. The business has a 50 day moving average price of $39.59 and a 200 day moving average price of $44.12. The company has a quick ratio of 1.30, a current ratio of 1.30 and a debt-to-equity ratio of 0.39. Rexford Industrial Realty, Inc. has a twelve month low of $36.92 and a twelve month 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 the consensus estimate of $0.27 by $0.31. Rexford Industrial Realty had a return on equity of 3.26% and a net margin of 29.10%. Research analysts predict that Rexford Industrial Realty, Inc. will post 2.38 earnings per share for the current year.

Rexford Industrial Realty Increases Dividend

The business also recently declared 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 annualized dividend and a yield of 4.28%. This is a positive change from Rexford Industrial Realty’s previous quarterly dividend of $0.42. The ex-dividend date is Monday, March 31st. Rexford Industrial Realty’s dividend payout ratio (DPR) is currently 142.15%.

Analyst Upgrades and Downgrades

REXR has been the subject of several recent research reports. Truist Financial decreased their target price on shares of Rexford Industrial Realty from $54.00 to $50.00 and set a “buy” rating for the company in a research report on Tuesday, November 12th. Barclays decreased their price objective on shares of Rexford Industrial Realty from $44.00 to $41.00 and set an “underweight” rating for the company in a report on Monday, January 13th. Deutsche Bank Aktiengesellschaft began coverage on Rexford Industrial Realty in a report on Tuesday, January 14th. They set a “hold” rating and a $40.00 target price on the stock. Mizuho decreased their price target on Rexford Industrial Realty from $46.00 to $45.00 and set a “neutral” rating for the company in a research note on Wednesday, January 8th. Finally, JPMorgan Chase & Co. lowered their price objective 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. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average 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.