Sumitomo Mitsui Trust Group Inc. Raises Position in Rexford Industrial Realty, Inc. (NYSE:REXR)

Sumitomo Mitsui Trust Group Inc. grew its holdings in shares of Rexford Industrial Realty, Inc. (NYSE:REXR) by 3.6% in the 1st quarter, HoldingsChannel.com reports. The firm owned 249,372 shares of the real estate investment trust’s stock after purchasing an additional 8,690 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Rexford Industrial Realty were worth $9,763,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in REXR. Rush Island Management LP purchased a new position in Rexford Industrial Realty in the 4th quarter worth $132,701,000. Norges Bank purchased a new position in Rexford Industrial Realty in the 4th quarter worth $104,685,000. Long Pond Capital LP purchased a new position in Rexford Industrial Realty in the 4th quarter worth $58,595,000. Northern Trust Corp raised its stake in Rexford Industrial Realty by 94.3% in the 4th quarter. Northern Trust Corp now owns 3,104,624 shares of the real estate investment trust’s stock worth $120,025,000 after acquiring an additional 1,506,779 shares during the last quarter. Finally, Resolution Capital Ltd purchased a new position in Rexford Industrial Realty in the 4th quarter worth $52,025,000. Hedge funds and other institutional investors own 99.52% of the company’s stock.

Rexford Industrial Realty Price Performance

NYSE:REXR opened at $37.13 on Friday. Rexford Industrial Realty, Inc. has a 52 week low of $29.68 and a 52 week high of $52.61. 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 stock has a market capitalization of $8.79 billion, a PE ratio of 29.94, a price-to-earnings-growth ratio of 3.39 and a beta of 1.13. The stock’s 50-day moving average price is $35.43 and its 200-day moving average price is $37.43.

Rexford Industrial Realty (NYSE:REXR) last posted its quarterly earnings data on Wednesday, April 16th. The real estate investment trust reported $0.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.05. Rexford Industrial Realty had a return on equity of 3.31% and a net margin of 28.96%. The company had revenue of $248.82 million for the quarter, compared to analysts’ expectations of $246.74 million. As a group, equities 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 disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Monday, June 30th will be issued a $0.43 dividend. This represents a $1.72 annualized dividend and a yield of 4.63%. The ex-dividend date is Monday, June 30th. Rexford Industrial Realty’s payout ratio is 138.71%.

Analyst Ratings Changes

A number of equities analysts recently issued reports on REXR shares. Scotiabank reduced their target price on Rexford Industrial Realty from $39.00 to $37.00 and set a “sector perform” rating for the company in a research note on Monday, May 12th. Barclays cut their price target on Rexford Industrial Realty from $38.00 to $35.00 and set an “underweight” rating on the stock in a research report on Wednesday, April 30th. Robert W. Baird set a $43.00 price target on Rexford Industrial Realty in a research report on Tuesday, May 6th. Truist Financial cut their price target on 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. Finally, Industrial Alliance Securities set a $38.00 price target on Rexford Industrial Realty in a research report on Tuesday, March 25th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $40.00.

Rexford Industrial Realty Company Profile

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.