Mirae Asset Global Investments Co. Ltd. Has $237,000 Holdings in Rexford Industrial Realty, Inc. (NYSE:REXR)

Mirae Asset Global Investments Co. Ltd. decreased its holdings in Rexford Industrial Realty, Inc. (NYSE:REXR) by 27.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,126 shares of the real estate investment trust’s stock after selling 2,329 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Rexford Industrial Realty were worth $237,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the stock. JPMorgan Chase & Co. grew its position in Rexford Industrial Realty by 26.9% during the third quarter. JPMorgan Chase & Co. now owns 4,503,571 shares of the real estate investment trust’s stock valued at $226,575,000 after purchasing an additional 954,202 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Rexford Industrial Realty by 1.9% during the 3rd quarter. Geode Capital Management LLC now owns 4,074,044 shares of the real estate investment trust’s stock valued at $205,014,000 after acquiring an additional 74,865 shares in the last quarter. Massachusetts Financial Services Co. MA grew its holdings in shares of Rexford Industrial Realty by 14.8% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 3,339,219 shares of the real estate investment trust’s stock valued at $167,996,000 after acquiring an additional 431,659 shares in the last quarter. Wellington Management Group LLP increased its stake in shares of Rexford Industrial Realty by 1.9% in the third quarter. Wellington Management Group LLP now owns 2,265,637 shares of the real estate investment trust’s stock worth $113,984,000 after acquiring an additional 42,450 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Rexford Industrial Realty by 338.0% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,930,706 shares of the real estate investment trust’s stock worth $97,134,000 after acquiring an additional 1,489,876 shares in the last quarter. 99.52% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

REXR has been the topic of a number of recent research reports. Truist Financial lowered their target price on Rexford Industrial Realty from $54.00 to $50.00 and set a “buy” rating on the stock in a research note on Tuesday, November 12th. Evercore ISI reiterated an “outperform” rating on shares of Rexford Industrial Realty in a report on Friday, October 18th. JPMorgan Chase & Co. dropped their price objective on Rexford Industrial Realty from $45.00 to $44.00 and set a “neutral” rating on the stock in a report on Thursday. Mizuho cut their price objective on shares of Rexford Industrial Realty from $46.00 to $45.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 8th. Finally, Bank of America downgraded shares of Rexford Industrial Realty from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $66.00 to $49.00 in a research report on Monday, October 21st. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $48.75.

Rexford Industrial Realty Price Performance

NYSE REXR opened at $40.58 on Friday. The company has a current ratio of 1.30, a quick ratio of 1.20 and a debt-to-equity ratio of 0.39. The company has a fifty day simple moving average of $39.60 and a 200 day simple moving average of $44.64. The company has a market cap of $9.02 billion, a P/E ratio of 33.54, a P/E/G ratio of 2.28 and a beta of 0.95. Rexford Industrial Realty, Inc. has a 1 year low of $36.92 and a 1 year high of $53.88.

Rexford Industrial Realty (NYSE:REXR) last released its quarterly earnings results on Wednesday, February 5th. The real estate investment trust reported $0.58 earnings per share (EPS) for the quarter, beating 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%. On average, sell-side analysts predict that Rexford Industrial Realty, Inc. will post 2.39 EPS for the current year.

Rexford Industrial Realty Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be issued a $0.43 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $1.72 dividend on an annualized basis and a yield of 4.24%. This is a positive change from Rexford Industrial Realty’s previous quarterly dividend of $0.42. Rexford Industrial Realty’s dividend payout ratio (DPR) is 138.02%.

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.