Rexford Industrial Realty, Inc. (NYSE:REXR) Position Boosted by Malaga Cove Capital LLC

Malaga Cove Capital LLC lifted its stake in shares of Rexford Industrial Realty, Inc. (NYSE:REXR) by 108.7% during the 4th quarter, HoldingsChannel.com reports. The firm owned 10,154 shares of the real estate investment trust’s stock after buying an additional 5,289 shares during the quarter. Malaga Cove Capital LLC’s holdings in Rexford Industrial Realty were worth $393,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Quantbot Technologies LP acquired a new stake in Rexford Industrial Realty during the fourth quarter worth about $33,000. UMB Bank n.a. raised its stake in Rexford Industrial Realty by 38.9% during the fourth quarter. UMB Bank n.a. now owns 999 shares of the real estate investment trust’s stock worth $39,000 after acquiring an additional 280 shares during the period. Whittier Trust Co. of Nevada Inc. raised its stake in Rexford Industrial Realty by 515.7% during the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 1,490 shares of the real estate investment trust’s stock worth $58,000 after acquiring an additional 1,248 shares during the period. Pilgrim Partners Asia Pte Ltd acquired a new stake in Rexford Industrial Realty during the fourth quarter worth about $65,000. Finally, SRS Capital Advisors Inc. increased its stake in shares of Rexford Industrial Realty by 4,104.5% in the fourth quarter. SRS Capital Advisors Inc. now owns 2,775 shares of the real estate investment trust’s stock valued at $107,000 after purchasing an additional 2,709 shares during the period. Institutional investors own 99.52% of the company’s stock.

Rexford Industrial Realty Trading Down 1.1%

Shares of NYSE:REXR opened at $35.11 on Thursday. The stock has a market capitalization of $8.31 billion, a price-to-earnings ratio of 29.02, a PEG ratio of 2.62 and a beta of 1.12. Rexford Industrial Realty, Inc. has a 1-year low of $29.68 and a 1-year high of $52.61. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.30 and a current ratio of 1.30. The company has a 50 day moving average price of $35.70 and a 200 day moving average price of $38.97.

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. The firm had revenue of $248.82 million during the quarter, compared to analysts’ expectations of $246.74 million. Rexford Industrial Realty had a net margin of 29.10% and a return on equity of 3.26%. On average, research analysts anticipate that Rexford Industrial Realty, Inc. will post 2.38 EPS for the current fiscal year.

Rexford Industrial Realty Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Monday, June 30th will be paid a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a yield of 4.90%. The ex-dividend date of this dividend is Monday, June 30th. Rexford Industrial Realty’s dividend payout ratio is 138.71%.

Wall Street Analysts Forecast Growth

Several brokerages have commented on REXR. Barclays dropped their price target on shares of Rexford Industrial Realty from $38.00 to $35.00 and set an “underweight” rating on the stock in a research note on Wednesday, April 30th. Truist Financial dropped 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 note on Thursday, May 1st. Scotiabank decreased their price objective on shares of Rexford Industrial Realty from $39.00 to $37.00 and set a “sector perform” rating for the company in a report on Monday. Robert W. Baird set a $43.00 price objective on shares of Rexford Industrial Realty in a report on Tuesday, May 6th. Finally, Industrial Alliance Securities set a $38.00 price objective on shares of Rexford Industrial Realty in a report on Tuesday, March 25th. Two investment 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. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $42.00.

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.