Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Rexford Industrial Realty, Inc. (NYSE:REXR – Free Report) during the 2nd quarter, Holdings Channel reports. The fund bought 386,856 shares of the real estate investment trust’s stock, valued at approximately $12,960,000.
A number of other institutional investors and hedge funds have also made changes to their positions in the stock. BlackRock Inc. acquired a new position in Rexford Industrial Realty during the second quarter worth about $1,293,168,000. Hsbc Holdings PLC lifted its position in shares of Rexford Industrial Realty by 17.7% during the 4th quarter. Hsbc Holdings PLC now owns 387,836 shares of the real estate investment trust’s stock valued at $15,017,000 after acquiring an additional 58,270 shares during the period. GSA Capital Partners LLP acquired a new stake in shares of Rexford Industrial Realty during the 2nd quarter valued at approximately $2,864,000. Principal Financial Group Inc. boosted its stake in shares of Rexford Industrial Realty by 19.5% during the 4th quarter. Principal Financial Group Inc. now owns 11,518,739 shares of the real estate investment trust’s stock worth $446,006,000 after acquiring an additional 1,881,905 shares in the last quarter. Finally, William Blair Investment Management LLC boosted its stake in shares of Rexford Industrial Realty by 7.8% during the 4th quarter. William Blair Investment Management LLC now owns 935,111 shares of the real estate investment trust’s stock worth $36,207,000 after acquiring an additional 67,276 shares in the last quarter. 99.52% of the stock is owned by institutional investors and hedge funds.
Rexford Industrial Realty Stock Up 0.2%
Shares of NYSE REXR opened at $37.74 on Wednesday. The firm’s 50-day moving average is $35.86 and its two-hundred day moving average is $35.66. The company has a market capitalization of $8.41 billion, a PE ratio of -20.85 and a beta of 1.19. Rexford Industrial Realty, Inc. has a 12-month low of $32.14 and a 12-month high of $44.38. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.70 and a quick ratio of 1.70.
Rexford Industrial Realty Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Wednesday, September 30th will be given a dividend of $0.435 per share. The ex-dividend date of this dividend is Wednesday, September 30th. This represents a $1.74 annualized dividend and a yield of 4.6%. Rexford Industrial Realty’s dividend payout ratio (DPR) is presently -96.13%.
Analyst Ratings Changes
Several equities analysts recently weighed in on the company. Truist Financial dropped their price objective on Rexford Industrial Realty from $40.00 to $38.00 and set a “buy” rating for the company in a research note on Thursday, May 21st. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Rexford Industrial Realty in a report on Monday, July 27th. Wall Street Zen downgraded Rexford Industrial Realty from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 1st. Weiss Ratings lowered Rexford Industrial Realty from a “hold (c)” rating to a “sell (d)” rating in a report on Wednesday, July 29th. Finally, JPMorgan Chase & Co. raised their price target on Rexford Industrial Realty from $36.00 to $39.00 and gave the company an “underweight” rating in a research report on Monday, August 3rd. Five investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and four have given a Sell rating to the company’s stock. According to data from MarketBeat.com, Rexford Industrial Realty has an average rating of “Hold” and an average price target of $40.93.
Read Our Latest Report on REXR
About Rexford Industrial Realty
Rexford Industrial Realty, Inc (NYSE: REXR) is a real estate investment trust (REIT) specializing in the acquisition, ownership and operation of industrial properties in Southern California. The company’s portfolio is concentrated in infill locations across key supply-chain markets, where it targets modern distribution centers, logistics facilities and light manufacturing spaces. Rexford’s strategy emphasizes buildings that offer proximity to major transportation routes and labor pools, catering to tenants in e-commerce, third-party logistics and manufacturing industries.
Since its founding in 2013, Rexford Industrial Realty has executed a disciplined growth plan driven by property acquisitions, selective development projects and strategic value-add initiatives.
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