UniSuper Management Pty Ltd Boosts Stake in Rexford Industrial Realty, Inc. (NYSE:REXR)

UniSuper Management Pty Ltd grew its stake in Rexford Industrial Realty, Inc. (NYSE:REXR) by 2.7% in the first quarter, HoldingsChannel reports. The institutional investor owned 60,600 shares of the real estate investment trust’s stock after buying an additional 1,600 shares during the period. UniSuper Management Pty Ltd’s holdings in Rexford Industrial Realty were worth $3,048,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Tower Research Capital LLC TRC raised its holdings in shares of Rexford Industrial Realty by 116.1% in the fourth quarter. Tower Research Capital LLC TRC now owns 46,150 shares of the real estate investment trust’s stock worth $2,589,000 after buying an additional 24,793 shares during the last quarter. M&G Plc acquired a new stake in shares of Rexford Industrial Realty in the first quarter worth $33,644,000. First Financial Bank Trust Division acquired a new stake in shares of Rexford Industrial Realty in the first quarter worth $2,551,000. Pacer Advisors Inc. increased its stake in shares of Rexford Industrial Realty by 12.8% in the fourth quarter. Pacer Advisors Inc. now owns 207,609 shares of the real estate investment trust’s stock worth $11,647,000 after acquiring an additional 23,510 shares during the period. Finally, GSI Capital Advisors LLC increased its stake in shares of Rexford Industrial Realty by 45.0% in the fourth quarter. GSI Capital Advisors LLC now owns 191,054 shares of the real estate investment trust’s stock worth $10,718,000 after acquiring an additional 59,320 shares during the period. Hedge funds and other institutional investors own 99.52% of the company’s stock.

Analyst Ratings Changes

REXR has been the topic of a number of research reports. Evercore ISI initiated 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 on the stock. Mizuho cut their price objective on shares of Rexford Industrial Realty from $52.00 to $50.00 and set a “neutral” rating on the stock in a research note on Friday, May 31st. Truist Financial cut their price objective on shares of Rexford Industrial Realty from $53.00 to $50.00 and set a “buy” rating on the stock in a research note on Thursday, May 2nd. Scotiabank cut their price objective on shares of Rexford Industrial Realty from $55.00 to $51.00 and set a “sector outperform” rating on the stock in a research note on Thursday, May 16th. Finally, Barclays raised their price target on shares of Rexford Industrial Realty from $45.00 to $46.00 and gave the company an “underweight” rating in a research report on Tuesday, April 23rd. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $52.60.

Rexford Industrial Realty Stock Performance

REXR stock traded down $0.26 during midday trading on Tuesday, hitting $49.42. 1,648,786 shares of the stock traded hands, compared to its average volume of 1,780,639. The firm has a market cap of $10.76 billion, a P/E ratio of 45.41, a PEG ratio of 2.00 and a beta of 0.92. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.73 and a quick ratio of 3.21. The stock’s fifty day simple moving average is $45.60 and its 200-day simple moving average is $48.61. Rexford Industrial Realty, Inc. has a 1-year low of $41.56 and a 1-year high of $58.02.

Rexford Industrial Realty (NYSE:REXR) last announced its earnings results on Wednesday, July 17th. The real estate investment trust reported $0.37 earnings per share (EPS) for the quarter, missing the consensus estimate 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 company had revenue of $237.60 million during the quarter, compared to analyst estimates of $227.70 million. During the same quarter last year, the business earned $0.54 EPS. The firm’s revenue for the quarter was up 21.3% compared to the same quarter last year. On average, analysts expect that Rexford Industrial Realty, Inc. will post 2.32 earnings per share for the current year.

Rexford Industrial Realty Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th will be given a $0.4175 dividend. This is a positive change from Rexford Industrial Realty’s previous quarterly dividend of $0.42. The ex-dividend date is Monday, September 30th. This represents a $1.67 annualized dividend and a dividend yield of 3.38%. Rexford Industrial Realty’s dividend payout ratio (DPR) is 153.21%.

About Rexford Industrial Realty

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.