Davis Selected Advisers Acquires 130,340 Shares of Rexford Industrial Realty, Inc. (NYSE:REXR)

Davis Selected Advisers boosted its holdings in shares of Rexford Industrial Realty, Inc. (NYSE:REXR) by 62.3% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 339,590 shares of the real estate investment trust’s stock after acquiring an additional 130,340 shares during the quarter. Davis Selected Advisers’ holdings in Rexford Industrial Realty were worth $13,129,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. UMB Bank n.a. grew its holdings 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 valued at $39,000 after purchasing an additional 280 shares during the last quarter. IHT Wealth Management LLC grew its holdings in Rexford Industrial Realty by 4.8% during the third quarter. IHT Wealth Management LLC now owns 6,451 shares of the real estate investment trust’s stock valued at $325,000 after purchasing an additional 296 shares during the last quarter. CIBC Asset Management Inc grew its holdings in Rexford Industrial Realty by 5.7% during the fourth quarter. CIBC Asset Management Inc now owns 6,572 shares of the real estate investment trust’s stock valued at $254,000 after purchasing an additional 355 shares during the last quarter. Exchange Traded Concepts LLC grew its holdings in Rexford Industrial Realty by 13.2% during the fourth quarter. Exchange Traded Concepts LLC now owns 3,172 shares of the real estate investment trust’s stock valued at $123,000 after purchasing an additional 371 shares during the last quarter. Finally, M&T Bank Corp grew its holdings in Rexford Industrial Realty by 1.5% during the third quarter. M&T Bank Corp now owns 29,225 shares of the real estate investment trust’s stock valued at $1,470,000 after purchasing an additional 442 shares during the last quarter. Institutional investors own 99.52% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on REXR shares. Barclays lowered their price objective on shares of Rexford Industrial Realty from $44.00 to $41.00 and set an “underweight” rating on the stock in a research note on Monday, January 13th. Deutsche Bank Aktiengesellschaft assumed coverage on Rexford Industrial Realty in a research report on Tuesday, January 14th. They issued a “hold” rating and a $40.00 target price for the company. Mizuho reduced 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. Truist Financial cut their price objective on Rexford Industrial Realty from $54.00 to $50.00 and set a “buy” rating for the company in a report on Tuesday, November 12th. Finally, JPMorgan Chase & Co. cut their price objective on Rexford Industrial Realty from $45.00 to $44.00 and set a “neutral” rating for the company in a report on Thursday, February 13th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, Rexford Industrial Realty currently has an average rating of “Hold” and an average target price of $48.50.

Rexford Industrial Realty Stock Performance

Rexford Industrial Realty stock opened at $40.47 on Friday. The stock has a 50-day simple moving average of $39.98 and a 200 day simple moving average of $43.63. 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 12-month low of $36.92 and a 12-month high of $53.88. The stock has a market capitalization of $9.23 billion, a price-to-earnings ratio of 33.45, a P/E/G ratio of 2.62 and a beta of 0.98.

Rexford Industrial Realty (NYSE:REXR) last announced its quarterly earnings data on Wednesday, February 5th. The real estate investment trust reported $0.58 EPS for the quarter, topping analysts’ consensus estimates of $0.27 by $0.31. 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 earnings per share for the current fiscal year.

Rexford Industrial Realty Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be given a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a yield of 4.25%. This is a positive change 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 presently 142.15%.

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.