AR Asset Management Inc. Cuts Holdings in Rexford Industrial Realty, Inc. (NYSE:REXR)

AR Asset Management Inc. lowered its position in Rexford Industrial Realty, Inc. (NYSE:REXR) by 41.2% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 28,600 shares of the real estate investment trust’s stock after selling 20,000 shares during the period. AR Asset Management Inc.’s holdings in Rexford Industrial Realty were worth $1,106,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Paradigm Asset Management Co. LLC purchased a new position in shares of Rexford Industrial Realty during the 4th quarter valued at approximately $1,082,000. CIBC Asset Management Inc lifted its holdings in Rexford Industrial Realty by 5.7% during the fourth quarter. CIBC Asset Management Inc now owns 6,572 shares of the real estate investment trust’s stock valued at $254,000 after purchasing an additional 355 shares in the last quarter. Sanctuary Advisors LLC grew its position in shares of Rexford Industrial Realty by 18.8% in the fourth quarter. Sanctuary Advisors LLC now owns 23,782 shares of the real estate investment trust’s stock valued at $969,000 after purchasing an additional 3,760 shares during the period. Meixler Investment Management Ltd. acquired a new stake in shares of Rexford Industrial Realty in the fourth quarter valued at about $437,000. Finally, Rhumbline Advisers increased its stake in shares of 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 worth $26,282,000 after purchasing an additional 21,093 shares in the last quarter. 99.52% of the stock is owned by hedge funds and other institutional investors.

Rexford Industrial Realty Stock Down 0.7 %

NYSE REXR opened at $40.48 on Friday. The business’s fifty day simple moving average is $39.58 and its 200-day simple moving average is $44.25. 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 firm has a market cap of $9.23 billion, a PE ratio of 33.45, a P/E/G ratio of 2.62 and a beta of 0.95. Rexford Industrial Realty, Inc. has a 52 week low of $36.92 and a 52 week high of $53.88.

Rexford Industrial Realty (NYSE:REXR) last issued its earnings results on Wednesday, February 5th. The real estate investment trust reported $0.58 EPS for the quarter, topping analysts’ consensus estimates of $0.27 by $0.31. Rexford Industrial Realty had a net margin of 29.10% and a return on equity of 3.26%. As a group, equities 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 disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be issued a $0.43 dividend. The ex-dividend date is Monday, March 31st. This is a boost from Rexford Industrial Realty’s previous quarterly dividend of $0.42. This represents a $1.72 dividend on an annualized basis and a yield of 4.25%. Rexford Industrial Realty’s dividend payout ratio is currently 138.02%.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on REXR. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Rexford Industrial Realty in a research note on Tuesday, January 14th. They issued a “hold” rating and a $40.00 price target on the stock. Barclays decreased their target price on Rexford Industrial Realty from $44.00 to $41.00 and set an “underweight” rating on the stock in a research report on Monday, January 13th. 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. Mizuho reduced their price objective 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, Scotiabank cut 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 research note on Friday, October 25th. Two investment 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 data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $48.75.

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.