Amalgamated Bank Has $4.06 Million Position in Rexford Industrial Realty, Inc. (NYSE:REXR)

Amalgamated Bank lowered its position in shares of Rexford Industrial Realty, Inc. (NYSE:REXR) by 1.4% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 103,785 shares of the real estate investment trust’s stock after selling 1,458 shares during the quarter. Amalgamated Bank’s holdings in Rexford Industrial Realty were worth $4,063,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Rush Island Management LP acquired a new position in shares of Rexford Industrial Realty in the fourth quarter valued at approximately $132,701,000. Norges Bank acquired a new position in shares of Rexford Industrial Realty in the fourth quarter valued at approximately $104,685,000. Long Pond Capital LP acquired a new position in shares of Rexford Industrial Realty in the fourth quarter valued at approximately $58,595,000. Northern Trust Corp boosted its holdings in shares of Rexford Industrial Realty by 94.3% in the fourth quarter. Northern Trust Corp now owns 3,104,624 shares of the real estate investment trust’s stock valued at $120,025,000 after buying an additional 1,506,779 shares during the period. Finally, Resolution Capital Ltd acquired a new position in shares of Rexford Industrial Realty in the fourth quarter valued at approximately $52,025,000. Institutional investors and hedge funds own 99.52% of the company’s stock.

Analyst Upgrades and Downgrades

REXR has been the subject of several research analyst reports. Robert W. Baird set a $43.00 price target on shares of Rexford Industrial Realty in a report on Tuesday, May 6th. Wells Fargo & Company reduced their price target on shares of Rexford Industrial Realty from $45.00 to $39.00 and set an “overweight” rating for the company in a report on Monday, May 19th. Scotiabank reduced their price target on shares of Rexford Industrial Realty from $39.00 to $37.00 and set a “sector perform” rating for the company in a report on Monday, May 12th. Industrial Alliance Securities set a $38.00 price objective on shares of Rexford Industrial Realty in a research report on Tuesday, March 25th. Finally, Truist Financial cut their price objective on shares of Rexford Industrial Realty from $44.00 to $37.00 and set a “buy” rating on the stock in a research report on Thursday, May 1st. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $40.00.

Rexford Industrial Realty Stock Performance

Shares of REXR stock opened at $37.13 on Friday. The company’s fifty day simple moving average is $35.43 and its 200-day simple moving average is $37.43. The company has a quick ratio of 4.90, a current ratio of 4.90 and a debt-to-equity ratio of 0.37. The firm has a market cap of $8.79 billion, a PE ratio of 29.94, a P/E/G ratio of 3.39 and a beta of 1.13. Rexford Industrial Realty, Inc. has a 12 month low of $29.68 and a 12 month high of $52.61.

Rexford Industrial Realty (NYSE:REXR) last announced its quarterly earnings results on Wednesday, April 16th. The real estate investment trust reported $0.62 EPS for the quarter, beating analysts’ consensus estimates of $0.57 by $0.05. The firm had revenue of $248.82 million during the quarter, compared to analysts’ expectations of $246.74 million. Rexford Industrial Realty had a net margin of 28.96% and a return on equity of 3.31%. Equities research analysts expect that Rexford Industrial Realty, Inc. will post 2.38 EPS for the current fiscal year.

Rexford Industrial Realty Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th will be paid a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a yield of 4.63%. The ex-dividend date is Monday, June 30th. Rexford Industrial Realty’s dividend payout ratio is currently 138.71%.

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.