Vanderbilt University Acquires 2,359 Shares of Rexford Industrial Realty, Inc. (NYSE:REXR)

Vanderbilt University boosted its holdings in shares of Rexford Industrial Realty, Inc. (NYSE:REXRFree Report) by 58.0% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 6,429 shares of the real estate investment trust’s stock after buying an additional 2,359 shares during the period. Vanderbilt University’s holdings in Rexford Industrial Realty were worth $361,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in REXR. State of Michigan Retirement System increased its holdings in shares of Rexford Industrial Realty by 2.6% in the fourth quarter. State of Michigan Retirement System now owns 50,682 shares of the real estate investment trust’s stock worth $2,843,000 after buying an additional 1,300 shares during the period. Oak Thistle LLC purchased a new position in shares of Rexford Industrial Realty in the fourth quarter worth about $1,548,000. Manning & Napier Group LLC increased its holdings in shares of Rexford Industrial Realty by 61.8% in the fourth quarter. Manning & Napier Group LLC now owns 208,075 shares of the real estate investment trust’s stock worth $11,673,000 after buying an additional 79,505 shares during the period. Chilton Capital Management LLC increased its holdings in shares of Rexford Industrial Realty by 7.3% in the fourth quarter. Chilton Capital Management LLC now owns 151,801 shares of the real estate investment trust’s stock worth $8,547,000 after buying an additional 10,360 shares during the period. Finally, ZRC Wealth Management LLC purchased a new position in Rexford Industrial Realty during the 4th quarter valued at about $348,000. Institutional investors own 99.52% of the company’s stock.

Wall Street Analyst Weigh In

REXR has been the topic of a number of research analyst reports. Robert W. Baird reiterated a “neutral” rating and set a $61.00 target price (up previously from $53.00) on shares of Rexford Industrial Realty in a report on Friday, January 5th. TheStreet upgraded Rexford Industrial Realty from a “c+” rating to a “b-” rating in a research report on Thursday, February 1st. JPMorgan Chase & Co. downgraded shares of Rexford Industrial Realty from an “overweight” rating to a “neutral” rating and set a $55.00 price target for the company. in a research note on Wednesday, February 7th. Barclays started coverage on Rexford Industrial Realty in a research report on Wednesday, March 27th. They set an “underweight” rating and a $45.00 price target on the stock. Finally, Truist Financial lowered their price target on shares of Rexford Industrial Realty from $61.00 to $57.00 and set a “buy” rating on the stock in a report on Thursday, February 15th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $56.00.

Check Out Our Latest Research Report on Rexford Industrial Realty

Insider Buying and Selling

In other news, General Counsel David E. Lanzer sold 18,113 shares of the company’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $52.69, for a total value of $954,373.97. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 1.10% of the stock is currently owned by company insiders.

Rexford Industrial Realty Price Performance

REXR traded up $0.13 during midday trading on Wednesday, reaching $48.70. 667,132 shares of the company’s stock were exchanged, compared to its average volume of 1,717,945. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.35 and a quick ratio of 1.35. The stock has a market capitalization of $10.47 billion, a PE ratio of 43.51, a P/E/G ratio of 2.10 and a beta of 0.86. The business’s 50-day moving average price is $51.99 and its 200 day moving average price is $50.95. Rexford Industrial Realty, Inc. has a 1-year low of $41.56 and a 1-year high of $59.29.

Rexford Industrial Realty Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 15th. Stockholders of record on Thursday, March 28th will be given a $0.4175 dividend. This represents a $1.67 dividend on an annualized basis and a dividend yield of 3.43%. The ex-dividend date is Wednesday, March 27th. This is a positive change from Rexford Industrial Realty’s previous quarterly dividend of $0.38. Rexford Industrial Realty’s payout ratio is currently 149.11%.

About Rexford Industrial Realty

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Rexford Industrial Realty (NYSE:REXR)

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