Rexford Industrial Realty, Inc. (NYSE:REXR) Shares Purchased by CIBC Asset Management Inc

CIBC Asset Management Inc raised its position in shares of Rexford Industrial Realty, Inc. (NYSE:REXR) by 5.7% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 6,572 shares of the real estate investment trust’s stock after purchasing an additional 355 shares during the quarter. CIBC Asset Management Inc’s holdings in Rexford Industrial Realty were worth $254,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. UMB Bank n.a. boosted its position 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 valued at $39,000 after buying an additional 280 shares during the last quarter. Archer Investment Corp boosted its holdings in shares of Rexford Industrial Realty by 61.5% in 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 last quarter. Catalyst Capital Advisors LLC acquired a new stake in shares of Rexford Industrial Realty in the third quarter worth $129,000. International Assets Investment Management LLC lifted its position in Rexford Industrial Realty by 4,835.8% during the third quarter. International Assets Investment Management LLC now owns 2,616 shares of the real estate investment trust’s stock valued at $132,000 after purchasing an additional 2,563 shares during the period. Finally, Signaturefd LLC boosted its holdings in Rexford Industrial Realty by 22.2% in the third quarter. Signaturefd LLC now owns 2,637 shares of the real estate investment trust’s stock valued at $133,000 after purchasing an additional 479 shares during the last quarter. 99.52% of the stock is owned by institutional investors and hedge funds.

Rexford Industrial Realty Price Performance

NYSE:REXR opened at $40.23 on Tuesday. The stock has a 50 day moving average of $39.59 and a two-hundred day moving average of $44.12. Rexford Industrial Realty, Inc. has a 12 month low of $36.92 and a 12 month high of $53.88. The firm has a market cap of $9.17 billion, a P/E ratio of 33.24, a price-to-earnings-growth ratio of 2.62 and a beta of 0.95. 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 issued its quarterly earnings results on Wednesday, February 5th. The real estate investment trust reported $0.58 EPS for the quarter, topping the consensus estimate of $0.27 by $0.31. Rexford Industrial Realty had a return on equity of 3.26% and a net margin of 29.10%. On average, analysts expect that Rexford Industrial Realty, Inc. will post 2.38 earnings per share for the current fiscal year.

Rexford Industrial Realty Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be paid a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a yield of 4.28%. The ex-dividend date of this dividend is Monday, March 31st. This is a boost from Rexford Industrial Realty’s previous quarterly dividend of $0.42. Rexford Industrial Realty’s dividend payout ratio is currently 142.15%.

Analysts Set New Price Targets

REXR has been the subject of a number of recent research reports. JPMorgan Chase & Co. decreased their price objective on Rexford Industrial Realty from $45.00 to $44.00 and set a “neutral” rating for the company in a report on Thursday, February 13th. Mizuho lowered their price objective on 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. 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 report on Monday, January 13th. Truist Financial cut their price objective on shares of Rexford Industrial Realty from $54.00 to $50.00 and set a “buy” rating for the company in a report on Tuesday, November 12th. Finally, Deutsche Bank Aktiengesellschaft started coverage on shares of Rexford Industrial Realty in a research note on Tuesday, January 14th. They set a “hold” rating and a $40.00 target price on the stock. Two analysts have rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $48.75.

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.