The Manufacturers Life Insurance Company Purchases 881 Shares of Rexford Industrial Realty, Inc. (NYSE:REXR)

The Manufacturers Life Insurance Company lifted its position in shares of Rexford Industrial Realty, Inc. (NYSE:REXR) by 0.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 363,607 shares of the real estate investment trust’s stock after buying an additional 881 shares during the quarter. The Manufacturers Life Insurance Company owned about 0.16% of Rexford Industrial Realty worth $14,057,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Quantbot Technologies LP acquired a new stake in Rexford Industrial Realty during the 4th quarter worth about $33,000. UMB Bank n.a. grew 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 purchasing an additional 280 shares during the period. Whittier Trust Co. of Nevada Inc. increased its holdings in Rexford Industrial Realty by 515.7% in 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 purchasing an additional 1,248 shares in the last quarter. Pilgrim Partners Asia Pte Ltd acquired a new position in Rexford Industrial Realty in the fourth quarter valued at approximately $65,000. Finally, SRS Capital Advisors Inc. boosted its holdings in shares of Rexford Industrial Realty by 4,104.5% during the 4th quarter. SRS Capital Advisors Inc. now owns 2,775 shares of the real estate investment trust’s stock worth $107,000 after buying an additional 2,709 shares in the last quarter. Institutional investors own 99.52% of the company’s stock.

Rexford Industrial Realty Price Performance

Shares of NYSE REXR opened at $34.31 on Friday. The company has a quick ratio of 1.30, a current ratio of 1.30 and a debt-to-equity ratio of 0.39. The company has a market capitalization of $8.12 billion, a PE ratio of 28.36, a PEG ratio of 2.62 and a beta of 1.12. The stock’s 50 day moving average price is $36.71 and its 200-day moving average price is $39.50. Rexford Industrial Realty, Inc. has a twelve month low of $29.68 and a twelve month high of $52.61.

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

Rexford Industrial Realty Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th will be given a $0.43 dividend. This represents a $1.72 annualized dividend and a yield of 5.01%. The ex-dividend date is Monday, June 30th. Rexford Industrial Realty’s dividend payout ratio is 138.71%.

Wall Street Analysts Forecast Growth

REXR has been the subject of several research analyst reports. Robert W. Baird lowered their price objective on shares of Rexford Industrial Realty from $48.00 to $47.00 and set a “neutral” rating for the company in a research note on Tuesday, March 4th. Industrial Alliance Securities set a $38.00 price objective on shares of Rexford Industrial Realty in a report on Tuesday, March 25th. Scotiabank reduced their target price on Rexford Industrial Realty from $47.00 to $39.00 and set a “sector perform” rating for the company in a research note on Monday, April 7th. Truist Financial dropped their price target on Rexford Industrial Realty from $44.00 to $37.00 and set a “buy” rating on the stock in a research note on Thursday. Finally, Deutsche Bank Aktiengesellschaft began coverage on Rexford Industrial Realty in a research note on Tuesday, January 14th. They issued a “hold” rating and a $40.00 price objective for the company. Two research analysts have rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $42.55.

Rexford Industrial Realty Profile

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.