Ameriprise Financial Inc. Acquires 65,966 Shares of Rexford Industrial Realty, Inc. (NYSE:REXR)

Ameriprise Financial Inc. lifted its holdings in shares of Rexford Industrial Realty, Inc. (NYSE:REXR) by 9.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 751,640 shares of the real estate investment trust’s stock after purchasing an additional 65,966 shares during the period. Ameriprise Financial Inc. owned 0.34% of Rexford Industrial Realty worth $29,062,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of REXR. Quantbot Technologies LP acquired a new stake in shares of Rexford Industrial Realty in the fourth quarter valued at about $33,000. UMB Bank n.a. boosted 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 valued at $39,000 after acquiring an additional 280 shares during the last quarter. Whittier Trust Co. of Nevada Inc. boosted its holdings in Rexford Industrial Realty by 515.7% in the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 1,490 shares of the real estate investment trust’s stock valued at $58,000 after acquiring an additional 1,248 shares during the last quarter. Pilgrim Partners Asia Pte Ltd acquired a new stake in Rexford Industrial Realty during the 4th quarter valued at approximately $65,000. Finally, SRS Capital Advisors Inc. raised its holdings in Rexford Industrial Realty by 4,104.5% during the 4th quarter. SRS Capital Advisors Inc. now owns 2,775 shares of the real estate investment trust’s stock worth $107,000 after purchasing an additional 2,709 shares during the last quarter. Institutional investors own 99.52% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on REXR. Robert W. Baird set a $43.00 price objective on shares of Rexford Industrial Realty in a research note on Tuesday, May 6th. Truist Financial cut their price target 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. JPMorgan Chase & Co. decreased their price target on Rexford Industrial Realty from $44.00 to $37.00 and set a “neutral” rating for the company in a report on Thursday, April 24th. Scotiabank dropped their price objective on Rexford Industrial Realty from $39.00 to $37.00 and set a “sector perform” rating on the stock in a research note on Monday. Finally, Evercore ISI cut their target price on Rexford Industrial Realty from $43.00 to $40.00 and set an “outperform” rating on the stock in a research report on Monday, April 21st. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, Rexford Industrial Realty currently has a consensus rating of “Hold” and a consensus target price of $42.00.

Rexford Industrial Realty Stock Down 0.9%

REXR stock opened at $35.56 on Wednesday. The stock’s 50 day simple moving average is $35.91 and its 200 day simple moving average is $39.02. The company has a market cap of $8.42 billion, a P/E ratio of 29.39, a price-to-earnings-growth ratio of 2.62 and a beta of 1.12. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.30 and a current ratio of 1.30. Rexford Industrial Realty, Inc. has a fifty-two week low of $29.68 and a fifty-two week high of $52.61.

Rexford Industrial Realty (NYSE:REXR) last issued its earnings results on Wednesday, April 16th. The real estate investment trust reported $0.62 earnings per share for the quarter, topping analysts’ consensus estimates of $0.57 by $0.05. Rexford Industrial Realty had a return on equity of 3.26% and a net margin of 29.10%. The company had revenue of $248.82 million for the quarter, compared to analyst estimates of $246.74 million. On average, research analysts expect that Rexford Industrial Realty, Inc. will post 2.38 earnings per share for the current fiscal year.

Rexford Industrial Realty Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th will be given a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a dividend yield of 4.84%. The ex-dividend date is Monday, June 30th. Rexford Industrial Realty’s payout ratio is presently 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.