Frontier Capital Management Co. LLC Boosts Stock Position in Rexford Industrial Realty, Inc. (NYSE:REXR)

Frontier Capital Management Co. LLC increased its stake in Rexford Industrial Realty, Inc. (NYSE:REXR) by 10.5% in the 4th quarter, Holdings Channel.com reports. The firm owned 269,072 shares of the real estate investment trust’s stock after buying an additional 25,561 shares during the quarter. Frontier Capital Management Co. LLC’s holdings in Rexford Industrial Realty were worth $10,402,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Deprince Race & Zollo Inc. grew its holdings in Rexford Industrial Realty by 2.3% during the 4th quarter. Deprince Race & Zollo Inc. now owns 664,360 shares of the real estate investment trust’s stock valued at $25,684,000 after buying an additional 14,706 shares in the last quarter. Cresset Asset Management LLC purchased a new position in Rexford Industrial Realty during the fourth quarter valued at approximately $454,000. Crestline Management LP increased its holdings in Rexford Industrial Realty by 600.4% during the 4th quarter. Crestline Management LP now owns 55,519 shares of the real estate investment trust’s stock worth $2,146,000 after acquiring an additional 47,592 shares during the period. Cetera Investment Advisers lifted its stake in Rexford Industrial Realty by 43.9% in the 4th quarter. Cetera Investment Advisers now owns 11,723 shares of the real estate investment trust’s stock worth $453,000 after purchasing an additional 3,575 shares in the last quarter. Finally, BROOKFIELD Corp ON boosted its holdings in Rexford Industrial Realty by 67.4% in the 4th quarter. BROOKFIELD Corp ON now owns 460,551 shares of the real estate investment trust’s stock valued at $17,805,000 after purchasing an additional 185,503 shares during the period. 99.52% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on REXR shares. Truist Financial decreased 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 report on Thursday, May 1st. Evercore ISI lowered their price target on Rexford Industrial Realty from $43.00 to $40.00 and set an “outperform” rating on the stock in a report on Monday, April 21st. Barclays decreased their price objective on shares of 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 target price on shares of Rexford Industrial Realty in a research report on Tuesday. Finally, Scotiabank decreased their price target on shares of Rexford Industrial Realty from $47.00 to $39.00 and set a “sector perform” rating on the stock in a report on Monday, April 7th. 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 company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $42.18.

Rexford Industrial Realty Price Performance

Shares of Rexford Industrial Realty stock opened at $34.19 on Friday. 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 52-week low of $29.68 and a 52-week high of $52.61. The company has a fifty day moving average of $36.02 and a 200-day moving average of $39.15. The stock has a market capitalization of $8.09 billion, a price-to-earnings ratio of 28.26, a price-to-earnings-growth ratio of 2.62 and a beta of 1.12.

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

Rexford Industrial Realty Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th will be paid a $0.43 dividend. The ex-dividend date of this dividend is Monday, June 30th. This represents a $1.72 dividend on an annualized basis and a yield of 5.03%. Rexford Industrial Realty’s dividend payout ratio (DPR) is currently 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.