Mercer Global Advisors Inc. ADV Purchases Shares of 18,272 Rexford Industrial Realty, Inc. (NYSE:REXR)

Mercer Global Advisors Inc. ADV purchased a new stake in Rexford Industrial Realty, Inc. (NYSE:REXR) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 18,272 shares of the real estate investment trust’s stock, valued at approximately $706,000.

A number of other hedge funds also recently bought and sold shares of the stock. Vanguard Group Inc. raised its position in Rexford Industrial Realty by 1.9% in the 4th quarter. Vanguard Group Inc. now owns 29,931,981 shares of the real estate investment trust’s stock valued at $1,157,170,000 after purchasing an additional 562,710 shares in the last quarter. JPMorgan Chase & Co. raised its position in Rexford Industrial Realty by 26.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 4,503,571 shares of the real estate investment trust’s stock valued at $226,575,000 after purchasing an additional 954,202 shares in the last quarter. Centersquare Investment Management LLC raised its position in Rexford Industrial Realty by 32.3% in 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 purchasing an additional 1,097,349 shares in the last quarter. Geode Capital Management LLC raised its position in Rexford Industrial Realty by 1.7% in the 4th quarter. Geode Capital Management LLC now owns 4,144,754 shares of the real estate investment trust’s stock valued at $160,282,000 after purchasing an additional 70,710 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA raised its position in Rexford Industrial Realty by 0.8% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 3,367,298 shares of the real estate investment trust’s stock valued at $130,180,000 after purchasing an additional 28,079 shares in the last quarter. Institutional investors and hedge funds own 99.52% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have issued reports on REXR. Truist Financial reduced their price target on Rexford Industrial Realty from $44.00 to $37.00 and set a “buy” rating on the stock in a research report on Thursday, May 1st. Evercore ISI cut their target price on Rexford Industrial Realty from $43.00 to $40.00 and set an “outperform” rating on the stock in a research report on Monday, April 21st. Barclays cut their target price on Rexford Industrial Realty from $38.00 to $35.00 and set an “underweight” rating on the stock in a research report on Wednesday, April 30th. Scotiabank cut their target price on Rexford Industrial Realty from $47.00 to $39.00 and set a “sector perform” rating on the stock in a research report on Monday, April 7th. Finally, Industrial Alliance Securities set a $38.00 target price on Rexford Industrial Realty in a research report on Tuesday, March 25th. Two investment 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 company presently has a consensus rating of “Hold” and a consensus price target of $42.18.

Rexford Industrial Realty Trading Up 1.0%

NYSE:REXR opened at $34.19 on Monday. The stock’s 50 day moving average price is $36.02 and its 200 day moving average price is $39.07. The company has a market capitalization of $8.09 billion, a PE ratio of 28.26, a P/E/G ratio of 2.62 and a beta of 1.12. The company has a quick ratio of 1.30, a current ratio of 1.30 and a debt-to-equity ratio of 0.39. Rexford Industrial Realty, Inc. has a 52-week low of $29.68 and a 52-week high of $52.61.

Rexford Industrial Realty (NYSE:REXR) last released its quarterly earnings results on Wednesday, April 16th. The real estate investment trust reported $0.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.57 by $0.05. The firm had revenue of $248.82 million for 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, research analysts anticipate that Rexford Industrial Realty, Inc. will post 2.38 EPS for the current year.

Rexford Industrial Realty Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Monday, June 30th will be paid a dividend of $0.43 per share. The ex-dividend date of this dividend is Monday, June 30th. This represents a $1.72 dividend on an annualized basis and a yield of 5.03%. Rexford Industrial Realty’s dividend payout ratio is presently 138.71%.

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.