Everence Capital Management Inc. Makes New $291,000 Investment in Rexford Industrial Realty, Inc. (NYSE:REXR)

Everence Capital Management Inc. acquired a new stake in Rexford Industrial Realty, Inc. (NYSE:REXR) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 7,530 shares of the real estate investment trust’s stock, valued at approximately $291,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in Rexford Industrial Realty in the 3rd quarter valued at $3,376,000. Asset Management One Co. Ltd. grew its position in shares of Rexford Industrial Realty by 15.8% in the third quarter. Asset Management One Co. Ltd. now owns 471,682 shares of the real estate investment trust’s stock valued at $23,730,000 after purchasing an additional 64,264 shares during the period. Oppenheimer Asset Management Inc. increased its stake in shares of Rexford Industrial Realty by 62.2% during the second quarter. Oppenheimer Asset Management Inc. now owns 26,234 shares of the real estate investment trust’s stock worth $1,170,000 after purchasing an additional 10,064 shares in the last quarter. JPMorgan Chase & Co. raised its position in shares of Rexford Industrial Realty by 26.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 4,503,571 shares of the real estate investment trust’s stock worth $226,575,000 after purchasing an additional 954,202 shares during the last quarter. Finally, M&G PLC lifted its stake in Rexford Industrial Realty by 24.0% in the 3rd quarter. M&G PLC now owns 935,892 shares of the real estate investment trust’s stock valued at $46,795,000 after buying an additional 180,940 shares in the last quarter. 99.52% of the stock is currently owned by hedge funds and other institutional investors.

Rexford Industrial Realty Stock Down 0.8 %

NYSE:REXR opened at $38.45 on Wednesday. Rexford Industrial Realty, Inc. has a 52 week low of $37.67 and a 52 week high of $56.87. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 0.40. The stock’s fifty day moving average is $41.08 and its two-hundred day moving average is $45.98. The stock has a market capitalization of $8.55 billion, a price-to-earnings ratio of 31.26, a price-to-earnings-growth ratio of 1.94 and a beta of 0.95.

Rexford Industrial Realty (NYSE:REXR) last announced its earnings results on Wednesday, October 16th. The real estate investment trust reported $0.30 EPS for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.28). The firm had revenue of $241.84 million for the quarter, compared to analysts’ expectations of $235.81 million. Rexford Industrial Realty had a net margin of 30.40% and a return on equity of 3.35%. The business’s revenue was up 17.7% compared to the same quarter last year. During the same quarter last year, the business earned $0.56 earnings per share. Research analysts anticipate that Rexford Industrial Realty, Inc. will post 2.34 EPS for the current year.

Rexford Industrial Realty Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be issued a $0.4175 dividend. This represents a $1.67 dividend on an annualized basis and a dividend yield of 4.34%. The ex-dividend date of this dividend is Tuesday, December 31st. Rexford Industrial Realty’s dividend payout ratio (DPR) is currently 135.77%.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the company. Evercore ISI reissued an “outperform” rating on shares of Rexford Industrial Realty in a research note on Friday, October 18th. Industrial Alliance Securities set a $55.00 price target on shares of Rexford Industrial Realty in a research note on Friday, October 18th. Bank of America cut shares of Rexford Industrial Realty from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $66.00 to $49.00 in a research note on Monday, October 21st. Scotiabank lowered shares of Rexford Industrial Realty from a “sector outperform” rating to a “sector perform” rating and decreased their target price for the stock from $55.00 to $48.00 in a research note on Friday, October 25th. Finally, Truist Financial dropped their price target on 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. Two analysts have rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, Rexford Industrial Realty has an average rating of “Hold” and a consensus price target of $51.09.

Rexford Industrial Realty Company 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.