Van ECK Associates Corp Buys 664 Shares of Rexford Industrial Realty, Inc. (NYSE:REXR)

Van ECK Associates Corp grew its position in Rexford Industrial Realty, Inc. (NYSE:REXR) by 0.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 101,386 shares of the real estate investment trust’s stock after buying an additional 664 shares during the quarter. Van ECK Associates Corp’s holdings in Rexford Industrial Realty were worth $3,919,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the business. UMB Bank n.a. grew its holdings in Rexford Industrial Realty by 38.9% in the fourth quarter. UMB Bank n.a. now owns 999 shares of the real estate investment trust’s stock worth $39,000 after purchasing an additional 280 shares during the last quarter. Archer Investment Corp lifted its stake in Rexford Industrial Realty by 61.5% during the 3rd quarter. Archer Investment Corp now owns 2,100 shares of the real estate investment trust’s stock valued at $106,000 after acquiring an additional 800 shares during the period. Catalyst Capital Advisors LLC purchased a new stake in Rexford Industrial Realty in the third quarter valued at $129,000. International Assets Investment Management LLC boosted its stake in shares of Rexford Industrial Realty by 4,835.8% in the third quarter. International Assets Investment Management LLC now owns 2,616 shares of the real estate investment trust’s stock worth $132,000 after buying an additional 2,563 shares during the last quarter. Finally, Signaturefd LLC boosted its position in Rexford Industrial Realty by 22.2% in the 3rd quarter. Signaturefd LLC now owns 2,637 shares of the real estate investment trust’s stock worth $133,000 after purchasing an additional 479 shares in the last quarter. 99.52% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

REXR has been the topic of several recent analyst reports. Truist Financial lowered their target price on shares of 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. Barclays lowered their price target on shares of 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. JPMorgan Chase & Co. reduced their price target on shares of Rexford Industrial Realty from $45.00 to $44.00 and set a “neutral” rating on the stock in a research note on Thursday, February 13th. Deutsche Bank Aktiengesellschaft started coverage on Rexford Industrial Realty in a research note on Tuesday, January 14th. They issued a “hold” rating and a $40.00 price objective on the stock. Finally, Scotiabank downgraded Rexford Industrial Realty from a “sector outperform” rating to a “sector perform” rating and lowered their price target for the company from $55.00 to $48.00 in a report on Friday, October 25th. Two research 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 MarketBeat.com, Rexford Industrial Realty has a consensus rating of “Hold” and an average price target of $48.75.

Rexford Industrial Realty Price Performance

NYSE REXR opened at $40.95 on Thursday. The stock has a market cap of $9.34 billion, a price-to-earnings ratio of 33.84, a price-to-earnings-growth ratio of 2.60 and a beta of 0.95. The company has a 50-day moving average price of $39.58 and a two-hundred day moving average price of $44.32. Rexford Industrial Realty, Inc. has a 52 week low of $36.92 and a 52 week high of $53.88. The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 0.39.

Rexford Industrial Realty (NYSE:REXR) last announced its earnings results on Wednesday, February 5th. The real estate investment trust reported $0.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.27 by $0.31. Rexford Industrial Realty had a return on equity of 3.26% and a net margin of 29.10%. Analysts forecast that Rexford Industrial Realty, Inc. will post 2.38 EPS for the current year.

Rexford Industrial Realty Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be paid a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a dividend yield of 4.20%. This is a boost from Rexford Industrial Realty’s previous quarterly dividend of $0.42. The ex-dividend date is Monday, March 31st. Rexford Industrial Realty’s payout ratio is presently 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.