Brookfield Corp ON Invests $13.84 Million in Rexford Industrial Realty, Inc. (NYSE:REXR)

Brookfield Corp ON bought a new stake in shares of Rexford Industrial Realty, Inc. (NYSE:REXR) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 275,048 shares of the real estate investment trust’s stock, valued at approximately $13,838,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Rexford Industrial Realty by 338.0% in 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 valued at $97,134,000 after buying an additional 1,489,876 shares during the last quarter. Canada Pension Plan Investment Board lifted its stake in Rexford Industrial Realty by 41.9% in the 2nd quarter. Canada Pension Plan Investment Board now owns 3,175,465 shares of the real estate investment trust’s stock worth $141,594,000 after purchasing an additional 938,177 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its stake in Rexford Industrial Realty by 38.0% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 2,907,560 shares of the real estate investment trust’s stock worth $129,648,000 after purchasing an additional 800,137 shares in the last quarter. Daiwa Securities Group Inc. boosted its holdings in shares of Rexford Industrial Realty by 52.5% during the 2nd quarter. Daiwa Securities Group Inc. now owns 1,210,795 shares of the real estate investment trust’s stock worth $53,990,000 after purchasing an additional 417,037 shares during the last quarter. Finally, PGGM Investments increased its holdings in shares of Rexford Industrial Realty by 16.5% in the second quarter. PGGM Investments now owns 2,833,520 shares of the real estate investment trust’s stock valued at $126,347,000 after purchasing an additional 401,593 shares during the last quarter. Hedge funds and other institutional investors own 99.52% of the company’s stock.

Rexford Industrial Realty Trading Down 1.9 %

NYSE REXR opened at $40.03 on Friday. Rexford Industrial Realty, Inc. has a one year low of $39.85 and a one year high of $58.02. The firm has a 50 day simple moving average of $44.26 and a 200-day simple moving average of $46.73. The firm has a market cap of $8.90 billion, a price-to-earnings ratio of 32.54, a PEG ratio of 1.96 and a beta of 0.93. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.20 and a current ratio of 1.20.

Rexford Industrial Realty (NYSE:REXR) last released its earnings results on Wednesday, October 16th. The real estate investment trust reported $0.30 EPS for the quarter, missing the consensus estimate of $0.58 by ($0.28). The company had revenue of $241.84 million for the quarter, compared to analyst estimates of $235.81 million. Rexford Industrial Realty had a return on equity of 3.35% and a net margin of 30.40%. The company’s revenue for the quarter was up 17.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.56 earnings per share. Equities research analysts anticipate that Rexford Industrial Realty, Inc. will post 2.34 EPS for the current fiscal year.

Rexford Industrial Realty Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be paid a $0.4175 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $1.67 dividend on an annualized basis and a yield of 4.17%. Rexford Industrial Realty’s dividend payout ratio is currently 135.77%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on REXR shares. StockNews.com cut shares of Rexford Industrial Realty from a “hold” rating to a “sell” rating in a research report on Monday, October 21st. Evercore ISI restated an “outperform” rating on shares of Rexford Industrial Realty in a report on Friday, October 18th. Scotiabank lowered Rexford Industrial Realty from a “sector outperform” rating to a “sector perform” rating and lowered their price objective for the stock from $55.00 to $48.00 in a research report on Friday, October 25th. Truist Financial reduced their target price on Rexford Industrial Realty from $54.00 to $50.00 and set a “buy” rating on the stock in a research report on Tuesday, November 12th. Finally, Mizuho reduced their price objective on shares of Rexford Industrial Realty from $50.00 to $49.00 and set a “neutral” rating on the stock in a report on Thursday, September 5th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, Rexford Industrial Realty currently has an average rating of “Hold” and an average price target of $51.09.

Insiders Place Their Bets

In other Rexford Industrial Realty news, CFO Laura E. Clark sold 14,185 shares of Rexford Industrial Realty stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $50.15, for a total transaction of $711,377.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.20% of the stock is currently owned by company insiders.

Rexford Industrial Realty Company Profile

Rexford Industrial creates value by investing in, operating and redeveloping industrial properties throughout infill Southern California, the world's fourth largest industrial market and consistently the highest-demand with lowest-supply major market in the nation. The Company's highly differentiated strategy enables internal and external growth opportunities through its proprietary value creation and asset management capabilities.