Mutual of America Capital Management LLC Reduces Stock Position in Rexford Industrial Realty, Inc. (NYSE:REXR)

Mutual of America Capital Management LLC reduced its holdings in shares of Rexford Industrial Realty, Inc. (NYSE:REXR) by 1.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 117,263 shares of the real estate investment trust’s stock after selling 1,128 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Rexford Industrial Realty were worth $4,533,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in REXR. International Assets Investment Management LLC boosted its stake in Rexford Industrial Realty by 4,835.8% during the 3rd quarter. International Assets Investment Management LLC now owns 2,616 shares of the real estate investment trust’s stock valued at $132,000 after acquiring an additional 2,563 shares during the last quarter. abrdn plc raised its stake in shares of Rexford Industrial Realty by 9.2% in the 3rd quarter. abrdn plc now owns 42,834 shares of the real estate investment trust’s stock valued at $2,155,000 after purchasing an additional 3,602 shares in the last quarter. First Trust Direct Indexing L.P. bought a new position in shares of Rexford Industrial Realty during the third quarter worth about $228,000. US Bancorp DE grew its stake in Rexford Industrial Realty by 13.8% in the third quarter. US Bancorp DE now owns 5,402 shares of the real estate investment trust’s stock worth $272,000 after purchasing an additional 653 shares in the last quarter. Finally, Van ECK Associates Corp increased its holdings in Rexford Industrial Realty by 15.8% in the third quarter. Van ECK Associates Corp now owns 100,722 shares of the real estate investment trust’s stock valued at $5,067,000 after buying an additional 13,709 shares during the last quarter. Institutional investors and hedge funds own 99.52% of the company’s stock.

Rexford Industrial Realty Trading Down 1.7 %

Shares of NYSE:REXR opened at $40.41 on Wednesday. The company has a quick ratio of 1.30, a current ratio of 1.30 and a debt-to-equity ratio of 0.39. The company’s 50-day moving average price is $39.86 and its 200 day moving average price is $43.74. The company has a market cap of $9.21 billion, a PE ratio of 33.39, a P/E/G ratio of 2.62 and a beta of 0.98. Rexford Industrial Realty, Inc. has a fifty-two week low of $36.92 and a fifty-two week high of $53.88.

Rexford Industrial Realty (NYSE:REXR) last released its quarterly earnings results on Wednesday, February 5th. The real estate investment trust reported $0.58 earnings per share for the quarter, beating 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%. Sell-side analysts anticipate that Rexford Industrial Realty, Inc. will post 2.38 earnings per share for the current year.

Rexford Industrial Realty Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be paid a $0.43 dividend. This is a boost from Rexford Industrial Realty’s previous quarterly dividend of $0.42. The ex-dividend date is Monday, March 31st. This represents a $1.72 annualized dividend and a dividend yield of 4.26%. Rexford Industrial Realty’s dividend payout ratio is presently 142.15%.

Analyst Ratings Changes

A number of research firms have commented on REXR. Scotiabank reduced their target price on Rexford Industrial Realty from $48.00 to $47.00 and set a “sector perform” rating on the stock in a report on Friday, February 28th. Mizuho reduced their price objective on Rexford Industrial Realty from $46.00 to $45.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 8th. Robert W. Baird lowered their target price on shares of Rexford Industrial Realty from $48.00 to $47.00 and set a “neutral” rating for the company in a research note on Tuesday. JPMorgan Chase & Co. reduced 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 research report on Thursday, February 13th. Finally, Truist Financial decreased their price target on shares of Rexford Industrial Realty from $54.00 to $50.00 and set a “buy” rating for the company in a report on Tuesday, November 12th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Rexford Industrial Realty has a consensus rating of “Hold” and a consensus target price of $48.50.

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.