Mitsubishi UFJ Trust & Banking Corp Trims Stock Position in Rexford Industrial Realty, Inc. (NYSE:REXR)

Mitsubishi UFJ Trust & Banking Corp lowered its position in shares of Rexford Industrial Realty, Inc. (NYSE:REXR) by 7.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 443,948 shares of the real estate investment trust’s stock after selling 36,698 shares during the period. Mitsubishi UFJ Trust & Banking Corp’s holdings in Rexford Industrial Realty were worth $21,682,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Norges Bank purchased a new position in Rexford Industrial Realty in the 4th quarter worth approximately $157,685,000. Capital International Investors purchased a new position in Rexford Industrial Realty in the 4th quarter worth approximately $139,522,000. Vanguard Group Inc. grew its stake in Rexford Industrial Realty by 4.5% in the 4th quarter. Vanguard Group Inc. now owns 28,981,854 shares of the real estate investment trust’s stock worth $1,625,882,000 after buying an additional 1,235,894 shares in the last quarter. Boston Partners grew its stake in Rexford Industrial Realty by 63.3% in the 4th quarter. Boston Partners now owns 2,772,565 shares of the real estate investment trust’s stock worth $155,536,000 after buying an additional 1,075,005 shares in the last quarter. Finally, Daiwa Securities Group Inc. grew its stake in Rexford Industrial Realty by 894.0% in the 1st quarter. Daiwa Securities Group Inc. now owns 793,758 shares of the real estate investment trust’s stock worth $39,926,000 after buying an additional 713,907 shares in the last quarter. Hedge funds and other institutional investors own 99.52% of the company’s stock.

Rexford Industrial Realty Trading Up 0.6 %

NYSE:REXR traded up $0.27 during midday trading on Friday, reaching $49.11. 1,434,429 shares of the stock traded hands, compared to its average volume of 1,866,996. The company has a fifty day moving average of $45.50 and a 200 day moving average of $48.74. Rexford Industrial Realty, Inc. has a 12 month low of $41.56 and a 12 month high of $58.02. The company has a debt-to-equity ratio of 0.41, a quick ratio of 3.21 and a current ratio of 1.73. The stock has a market capitalization of $10.70 billion, a P/E ratio of 45.06, a PEG ratio of 2.00 and a beta of 0.92.

Rexford Industrial Realty (NYSE:REXR) last posted its quarterly earnings results on Wednesday, July 17th. The real estate investment trust reported $0.37 EPS for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.21). Rexford Industrial Realty had a net margin of 30.71% and a return on equity of 3.31%. The firm had revenue of $237.60 million for the quarter, compared to the consensus estimate of $227.70 million. During the same quarter in the prior year, the company earned $0.54 earnings per share. The company’s quarterly revenue was up 21.3% compared to the same quarter last year. On average, research analysts predict that Rexford Industrial Realty, Inc. will post 2.32 EPS for the current year.

Rexford Industrial Realty Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th will be issued a $0.4175 dividend. The ex-dividend date of this dividend is Monday, September 30th. This is a positive change from Rexford Industrial Realty’s previous quarterly dividend of $0.42. This represents a $1.67 annualized dividend and a yield of 3.40%. Rexford Industrial Realty’s dividend payout ratio is 153.21%.

Wall Street Analyst Weigh In

A number of equities analysts have commented on REXR shares. Scotiabank cut their price target on shares of Rexford Industrial Realty from $55.00 to $51.00 and set a “sector outperform” rating for the company in a research note on Thursday, May 16th. Barclays upped their price objective on shares of Rexford Industrial Realty from $45.00 to $46.00 and gave the company an “underweight” rating in a research note on Tuesday, April 23rd. Wedbush assumed coverage on shares of Rexford Industrial Realty in a research note on Monday, April 22nd. They issued a “neutral” rating and a $45.00 price objective for the company. Evercore ISI assumed coverage on shares of Rexford Industrial Realty in a research note on Wednesday, July 10th. They issued an “outperform” rating and a $54.00 price objective for the company. Finally, Truist Financial cut their price objective on shares of Rexford Industrial Realty from $53.00 to $50.00 and set a “buy” rating for the company in a research note on Thursday, May 2nd. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, Rexford Industrial Realty currently has an average rating of “Hold” and an average price target of $52.60.

Rexford Industrial Realty 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.