Metis Global Partners LLC Boosts Stake in Rexford Industrial Realty, Inc. (NYSE:REXR)

Metis Global Partners LLC raised its position in Rexford Industrial Realty, Inc. (NYSE:REXR) by 11.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 25,113 shares of the real estate investment trust’s stock after purchasing an additional 2,566 shares during the quarter. Metis Global Partners LLC’s holdings in Rexford Industrial Realty were worth $971,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Rexford Industrial Realty by 338.0% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,930,706 shares of the real estate investment trust’s stock worth $97,134,000 after purchasing an additional 1,489,876 shares in the last quarter. JPMorgan Chase & Co. grew its stake in Rexford Industrial Realty by 26.9% during the third quarter. JPMorgan Chase & Co. now owns 4,503,571 shares of the real estate investment trust’s stock worth $226,575,000 after buying an additional 954,202 shares during the period. Massachusetts Financial Services Co. MA increased its position in shares of Rexford Industrial Realty by 14.8% in the third quarter. Massachusetts Financial Services Co. MA now owns 3,339,219 shares of the real estate investment trust’s stock worth $167,996,000 after acquiring an additional 431,659 shares in the last quarter. Brookfield Corp ON acquired a new stake in shares of Rexford Industrial Realty in the third quarter worth $13,838,000. Finally, Daiwa Securities Group Inc. raised its stake in shares of Rexford Industrial Realty by 19.6% in the 3rd quarter. Daiwa Securities Group Inc. now owns 1,448,419 shares of the real estate investment trust’s stock valued at $72,870,000 after acquiring an additional 237,624 shares during the period. 99.52% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

REXR has been the subject of a number of research reports. Barclays decreased their price target on shares of Rexford Industrial Realty from $44.00 to $41.00 and set an “underweight” rating for the company in a research report on Monday, January 13th. Mizuho decreased their target price on Rexford Industrial Realty from $46.00 to $45.00 and set a “neutral” rating for the company in a research report on Wednesday, January 8th. Scotiabank dropped their target price on Rexford Industrial Realty from $48.00 to $47.00 and set a “sector perform” rating on the stock in a report on Friday, February 28th. Robert W. Baird reduced their price target on Rexford Industrial Realty from $48.00 to $47.00 and set a “neutral” rating on the stock in a research report on Tuesday. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on shares of Rexford Industrial Realty in a research report 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, seven have given a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $48.50.

Rexford Industrial Realty Stock Performance

Rexford Industrial Realty stock opened at $40.41 on Wednesday. Rexford Industrial Realty, Inc. has a 52 week low of $36.92 and a 52 week high of $53.88. 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 $9.21 billion, a P/E ratio of 33.39, a price-to-earnings-growth ratio of 2.62 and a beta of 0.98. The stock has a 50 day moving average of $39.86 and a 200-day moving average of $43.74.

Rexford Industrial Realty (NYSE:REXR) last posted its quarterly earnings data on Wednesday, February 5th. The real estate investment trust reported $0.58 EPS for the quarter, beating analysts’ consensus estimates of $0.27 by $0.31. Rexford Industrial Realty had a net margin of 29.10% and a return on equity of 3.26%. On average, analysts expect that Rexford Industrial Realty, Inc. will post 2.38 EPS for the current fiscal year.

Rexford Industrial Realty Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be paid a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a yield of 4.26%. This is an increase from Rexford Industrial Realty’s previous quarterly dividend of $0.42. The ex-dividend date is Monday, March 31st. Rexford Industrial Realty’s dividend payout ratio (DPR) is 142.15%.

Rexford Industrial Realty Company 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.