Oppenheimer Asset Management Inc. Has $1.01 Million Position in Rexford Industrial Realty, Inc. (NYSE:REXR)

Oppenheimer Asset Management Inc. reduced its stake in Rexford Industrial Realty, Inc. (NYSE:REXR) by 18.2% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 26,189 shares of the real estate investment trust’s stock after selling 5,823 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Rexford Industrial Realty were worth $1,012,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. lifted its holdings in Rexford Industrial Realty by 26.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 4,503,571 shares of the real estate investment trust’s stock worth $226,575,000 after purchasing an additional 954,202 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Rexford Industrial Realty by 1.9% during the third quarter. Geode Capital Management LLC now owns 4,074,044 shares of the real estate investment trust’s stock worth $205,014,000 after buying an additional 74,865 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in shares of Rexford Industrial Realty by 14.8% during the third quarter. Massachusetts Financial Services Co. MA now owns 3,339,219 shares of the real estate investment trust’s stock worth $167,996,000 after buying an additional 431,659 shares during the last quarter. Wellington Management Group LLP lifted its holdings in shares of Rexford Industrial Realty by 1.9% during the third quarter. Wellington Management Group LLP now owns 2,265,637 shares of the real estate investment trust’s stock worth $113,984,000 after buying an additional 42,450 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Rexford Industrial Realty by 338.0% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,930,706 shares of the real estate investment trust’s stock worth $97,134,000 after buying an additional 1,489,876 shares during the last quarter. 99.52% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Robert W. Baird cut their price target on Rexford Industrial Realty from $48.00 to $47.00 and set a “neutral” rating for the company in a report on Tuesday. Deutsche Bank Aktiengesellschaft assumed coverage on Rexford Industrial Realty in a report on Tuesday, January 14th. They set a “hold” rating and a $40.00 price target for the company. Scotiabank cut their price target on Rexford Industrial Realty from $48.00 to $47.00 and set a “sector perform” rating for the company in a report on Friday, February 28th. Barclays cut their price target on Rexford Industrial Realty from $44.00 to $41.00 and set an “underweight” rating for the company in a report on Monday, January 13th. Finally, Truist Financial cut their target price on Rexford Industrial Realty from $54.00 to $50.00 and set a “buy” rating for the company in a research note on Tuesday, November 12th. Two equities research analysts have rated the stock with a sell rating, seven 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 a consensus price target of $48.50.

Rexford Industrial Realty Stock Performance

Shares of NYSE:REXR opened at $40.41 on Wednesday. The business’s fifty day moving average price is $39.86 and its two-hundred day moving average price is $43.74. Rexford Industrial Realty, Inc. has a fifty-two week low of $36.92 and a fifty-two week high of $53.88. The stock has a market capitalization of $9.21 billion, a price-to-earnings ratio of 33.39, a price-to-earnings-growth ratio of 2.62 and a beta of 0.98. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.30 and a quick ratio of 1.30.

Rexford Industrial Realty (NYSE:REXR) last announced its quarterly earnings results on Wednesday, February 5th. The real estate investment trust reported $0.58 earnings per share for the quarter, beating 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%. As a group, analysts predict that Rexford Industrial Realty, Inc. will post 2.38 EPS for the current fiscal year.

Rexford Industrial Realty Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be given a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a yield of 4.26%. 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 dividend payout ratio is 142.15%.

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.