Nordea Investment Management AB Invests $8.01 Million in Rexford Industrial Realty, Inc. (NYSE:REXR)

Nordea Investment Management AB bought a new stake in shares of Rexford Industrial Realty, Inc. (NYSE:REXR) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 206,561 shares of the real estate investment trust’s stock, valued at approximately $8,008,000. Nordea Investment Management AB owned approximately 0.09% of Rexford Industrial Realty at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the business. Fulton Bank N.A. boosted its holdings in shares of Rexford Industrial Realty by 4.7% during the 3rd quarter. Fulton Bank N.A. now owns 5,038 shares of the real estate investment trust’s stock worth $253,000 after buying an additional 224 shares in the last quarter. IHT Wealth Management LLC boosted its stake 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 worth $325,000 after acquiring an additional 296 shares in the last quarter. Victory Capital Management Inc. grew its holdings in Rexford Industrial Realty by 0.8% in the second quarter. Victory Capital Management Inc. now owns 46,066 shares of the real estate investment trust’s stock worth $2,054,000 after purchasing an additional 345 shares during the period. Naviter Wealth LLC increased its stake in Rexford Industrial Realty by 2.6% in the third quarter. Naviter Wealth LLC now owns 14,907 shares of the real estate investment trust’s stock valued at $756,000 after purchasing an additional 382 shares in the last quarter. Finally, M&T Bank Corp raised its holdings in shares of 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 period. Institutional investors and hedge funds own 99.52% of the company’s stock.

Rexford Industrial Realty Stock Performance

Shares of REXR opened at $38.22 on Friday. The stock has a 50 day moving average of $40.86 and a 200 day moving average of $45.88. The company has a market capitalization of $8.50 billion, a price-to-earnings ratio of 31.07, a PEG ratio of 1.94 and a beta of 0.95. Rexford Industrial Realty, Inc. has a 12 month low of $37.67 and a 12 month high of $56.87. The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 0.40.

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

Rexford Industrial Realty Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be paid a dividend of $0.4175 per share. The ex-dividend date is Tuesday, December 31st. This represents a $1.67 annualized dividend and a dividend yield of 4.37%. Rexford Industrial Realty’s payout ratio is currently 135.77%.

Wall Street Analyst Weigh In

A number of analysts recently commented on REXR shares. Industrial Alliance Securities set a $55.00 target price on Rexford Industrial Realty in a research report on Friday, October 18th. Scotiabank downgraded Rexford Industrial Realty from a “sector outperform” rating to a “sector perform” rating and decreased their price objective for the company from $55.00 to $48.00 in a report on Friday, October 25th. StockNews.com downgraded shares of Rexford Industrial Realty from a “hold” rating to a “sell” rating in a research report on Monday, October 21st. Mizuho lowered their price objective on shares of Rexford Industrial Realty from $46.00 to $45.00 and set a “neutral” rating on the stock in a report on Wednesday. Finally, Truist Financial decreased their target price on shares of Rexford Industrial Realty from $54.00 to $50.00 and set a “buy” rating for the company in a research report on Tuesday, November 12th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, Rexford Industrial Realty presently has a consensus rating of “Hold” and a consensus price target of $50.73.

About Rexford Industrial Realty

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.