BROOKFIELD Corp ON Acquires 185,503 Shares of Rexford Industrial Realty, Inc. (NYSE:REXR)

BROOKFIELD Corp ON grew its stake in shares of Rexford Industrial Realty, Inc. (NYSE:REXR) by 67.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 460,551 shares of the real estate investment trust’s stock after buying an additional 185,503 shares during the quarter. BROOKFIELD Corp ON’s holdings in Rexford Industrial Realty were worth $17,805,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Norges Bank purchased a new stake in Rexford Industrial Realty during the 4th quarter valued at about $104,685,000. Long Pond Capital LP bought a new position in shares of Rexford Industrial Realty in the fourth quarter worth approximately $58,595,000. Northern Trust Corp raised its holdings in Rexford Industrial Realty by 94.3% during the 4th quarter. Northern Trust Corp now owns 3,104,624 shares of the real estate investment trust’s stock valued at $120,025,000 after buying an additional 1,506,779 shares during the last quarter. Centersquare Investment Management LLC boosted its position in Rexford Industrial Realty by 32.3% during the 4th quarter. Centersquare Investment Management LLC now owns 4,492,166 shares of the real estate investment trust’s stock valued at $173,667,000 after buying an additional 1,097,349 shares during the period. Finally, JPMorgan Chase & Co. increased its position in shares of Rexford Industrial Realty by 26.9% in the third quarter. JPMorgan Chase & Co. now owns 4,503,571 shares of the real estate investment trust’s stock valued at $226,575,000 after acquiring an additional 954,202 shares during the period. Hedge funds and other institutional investors own 99.52% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently issued reports on REXR. Mizuho cut their target price on Rexford Industrial Realty from $46.00 to $45.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 8th. Robert W. Baird reduced their target price on Rexford Industrial Realty from $48.00 to $47.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 4th. Scotiabank dropped their price target 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. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Rexford Industrial Realty in a report on Tuesday, January 14th. They issued a “hold” rating and a $40.00 price objective for the company. Finally, Barclays cut their target price 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. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $42.55.

Rexford Industrial Realty Trading Down 0.2 %

NYSE REXR opened at $34.23 on Tuesday. The stock’s fifty day moving average price is $36.59 and its 200-day moving average price is $39.38. The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 0.39. The stock has a market cap of $8.10 billion, a P/E ratio of 28.29, a P/E/G ratio of 2.62 and a beta of 1.12. Rexford Industrial Realty, Inc. has a 12 month low of $29.68 and a 12 month high of $52.61.

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 (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.05. The business 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%. As a group, equities analysts forecast that Rexford Industrial Realty, Inc. will post 2.38 EPS for the current fiscal year.

Rexford Industrial Realty Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th will be paid a dividend of $0.43 per share. The ex-dividend date is Monday, June 30th. This represents a $1.72 annualized dividend and a yield of 5.02%. Rexford Industrial Realty’s dividend payout ratio is 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.