JPMorgan Chase & Co. Has $226.58 Million Stock Holdings in Rexford Industrial Realty, Inc. (NYSE:REXR)

JPMorgan Chase & Co. grew its stake in Rexford Industrial Realty, Inc. (NYSE:REXR) by 26.9% during the third quarter, HoldingsChannel.com reports. The firm owned 4,503,571 shares of the real estate investment trust’s stock after buying an additional 954,202 shares during the period. JPMorgan Chase & Co.’s holdings in Rexford Industrial Realty were worth $226,575,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in REXR. UMB Bank n.a. grew its holdings in Rexford Industrial Realty by 164.3% during the third quarter. UMB Bank n.a. now owns 719 shares of the real estate investment trust’s stock valued at $36,000 after purchasing an additional 447 shares during the period. Headlands Technologies LLC acquired a new position in shares of Rexford Industrial Realty in the 2nd quarter valued at $41,000. GAMMA Investing LLC increased its position in shares of Rexford Industrial Realty by 111.7% in the 3rd quarter. GAMMA Investing LLC now owns 1,850 shares of the real estate investment trust’s stock valued at $93,000 after buying an additional 976 shares in the last quarter. Archer Investment Corp raised its stake in Rexford Industrial Realty by 61.5% during the 3rd quarter. Archer Investment Corp now owns 2,100 shares of the real estate investment trust’s stock worth $106,000 after buying an additional 800 shares during the period. Finally, Catalyst Capital Advisors LLC bought a new position in Rexford Industrial Realty during the third quarter worth about $129,000. 99.52% of the stock is owned by institutional investors and hedge funds.

Rexford Industrial Realty Price Performance

NYSE:REXR opened at $38.71 on Tuesday. Rexford Industrial Realty, Inc. has a 52-week low of $37.67 and a 52-week high of $56.87. The company has a market cap of $8.61 billion, a P/E ratio of 31.47, a P/E/G ratio of 1.94 and a beta of 0.93. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.20 and a current ratio of 1.20. The stock’s 50-day simple moving average is $41.65 and its 200 day simple moving average is $46.18.

Rexford Industrial Realty (NYSE:REXR) last posted its quarterly earnings results on Wednesday, October 16th. The real estate investment trust reported $0.30 earnings per share for the quarter, missing the consensus estimate of $0.58 by ($0.28). The company had revenue of $241.84 million for the quarter, compared to analyst estimates of $235.81 million. Rexford Industrial Realty had a return on equity of 3.35% and a net margin of 30.40%. The firm’s revenue for the quarter was up 17.7% compared to the same quarter last year. During the same period last year, the firm earned $0.56 EPS. As a group, sell-side analysts forecast that Rexford Industrial Realty, Inc. will post 2.34 EPS for the current fiscal year.

Rexford Industrial Realty Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be given a $0.4175 dividend. This represents a $1.67 dividend on an annualized basis and a dividend yield of 4.31%. The ex-dividend date of this dividend is Tuesday, December 31st. Rexford Industrial Realty’s dividend payout ratio (DPR) is presently 135.77%.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on REXR. Evercore ISI restated an “outperform” rating on shares of Rexford Industrial Realty in a report on Friday, October 18th. StockNews.com downgraded shares of Rexford Industrial Realty from a “hold” rating to a “sell” rating in a report on Monday, October 21st. Industrial Alliance Securities set a $55.00 price target on shares of Rexford Industrial Realty in a report on Friday, October 18th. Mizuho dropped their price objective on shares of Rexford Industrial Realty from $50.00 to $49.00 and set a “neutral” rating on the stock in a report on Thursday, September 5th. Finally, Truist Financial cut their price objective on shares of Rexford Industrial Realty from $54.00 to $50.00 and set a “buy” rating on the stock in a research report on Tuesday, November 12th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $51.09.

Rexford Industrial Realty Profile

Rexford Industrial creates value by investing in, operating and redeveloping industrial properties throughout infill Southern California, the world's fourth largest industrial market and consistently the highest-demand with lowest-supply major market in the nation. The Company's highly differentiated strategy enables internal and external growth opportunities through its proprietary value creation and asset management capabilities.