Rexford Industrial Realty, Inc. (NYSE:REXR) Position Trimmed by American International Group Inc.

American International Group Inc. trimmed its holdings in shares of Rexford Industrial Realty, Inc. (NYSE:REXR) by 2.2% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 278,967 shares of the real estate investment trust’s stock after selling 6,172 shares during the period. American International Group Inc. owned about 0.13% of Rexford Industrial Realty worth $14,032,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. GAMMA Investing LLC bought a new stake in Rexford Industrial Realty during the fourth quarter worth approximately $41,000. Quarry LP boosted its holdings in Rexford Industrial Realty by 195.8% during the fourth quarter. Quarry LP now owns 1,118 shares of the real estate investment trust’s stock worth $63,000 after buying an additional 740 shares in the last quarter. Principal Securities Inc. purchased a new stake in shares of Rexford Industrial Realty in the 4th quarter valued at approximately $96,000. International Assets Investment Management LLC lifted its position in shares of Rexford Industrial Realty by 5,510.9% in the 4th quarter. International Assets Investment Management LLC now owns 3,086 shares of the real estate investment trust’s stock valued at $173,000 after acquiring an additional 3,031 shares in the last quarter. Finally, Cetera Trust Company N.A purchased a new stake in shares of Rexford Industrial Realty in the 4th quarter valued at approximately $189,000. 99.52% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently commented on REXR shares. StockNews.com upgraded shares of Rexford Industrial Realty from a “sell” rating to a “hold” rating in a research report on Monday. Robert W. Baird reduced their price target on shares of Rexford Industrial Realty from $57.00 to $49.00 and set a “neutral” rating for the company in a research report on Wednesday, May 1st. Barclays upped 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. Truist Financial reduced their price target on shares of Rexford Industrial Realty from $53.00 to $50.00 and set a “buy” rating for the company in a research report on Thursday, May 2nd. Finally, Scotiabank reduced 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 report on Thursday, May 16th. One analyst has rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $52.30.

Rexford Industrial Realty Stock Up 1.5 %

Shares of Rexford Industrial Realty stock traded up $0.73 during midday trading on Thursday, reaching $49.27. 686,517 shares of the company’s stock traded hands, compared to its average volume of 1,770,402. The company has a market cap of $10.81 billion, a price-to-earnings ratio of 45.12, a price-to-earnings-growth ratio of 2.00 and a beta of 0.92. The company’s 50 day simple moving average is $45.73 and its 200 day simple moving average is $48.56. The company has a debt-to-equity ratio of 0.41, a quick ratio of 3.21 and a current ratio of 1.73. Rexford Industrial Realty, Inc. has a 52 week low of $41.56 and a 52 week high of $58.02.

Rexford Industrial Realty (NYSE:REXR) last released its quarterly earnings results on Wednesday, July 17th. The real estate investment trust reported $0.37 earnings per share for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.21). The business had revenue of $237.60 million for the quarter, compared to the consensus estimate of $227.70 million. Rexford Industrial Realty had a net margin of 30.71% and a return on equity of 3.31%. The firm’s revenue for the quarter was up 21.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.54 EPS. Equities analysts expect that Rexford Industrial Realty, Inc. will post 2.34 earnings per share for the current fiscal year.

Rexford Industrial Realty Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th will be issued a dividend of $0.4175 per share. The ex-dividend date is Monday, September 30th. This represents a $1.67 dividend on an annualized basis and a dividend yield of 3.39%. This is an increase from Rexford Industrial Realty’s previous quarterly dividend of $0.42. Rexford Industrial Realty’s dividend payout ratio (DPR) is currently 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.