abrdn plc Boosts Holdings in Rexford Industrial Realty, Inc. (NYSE:REXR)

abrdn plc boosted its holdings in shares of Rexford Industrial Realty, Inc. (NYSE:REXR) by 32.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 56,650 shares of the real estate investment trust’s stock after acquiring an additional 13,816 shares during the period. abrdn plc’s holdings in Rexford Industrial Realty were worth $2,193,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. GAMMA Investing LLC lifted its stake in 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. UMB Bank n.a. raised its holdings in shares of Rexford Industrial Realty by 164.3% in the third quarter. UMB Bank n.a. now owns 719 shares of the real estate investment trust’s stock worth $36,000 after acquiring an additional 447 shares during the last quarter. Exchange Traded Concepts LLC lifted its position in shares of Rexford Industrial Realty by 67.6% in the third quarter. Exchange Traded Concepts LLC now owns 2,801 shares of the real estate investment trust’s stock valued at $141,000 after acquiring an additional 1,130 shares in the last quarter. Creative Planning boosted its stake in shares of Rexford Industrial Realty by 36.1% during the third quarter. Creative Planning now owns 24,381 shares of the real estate investment trust’s stock valued at $1,227,000 after acquiring an additional 6,468 shares during the last quarter. Finally, Stableford Capital II LLC purchased a new stake in Rexford Industrial Realty during the 3rd quarter worth about $560,000. Hedge funds and other institutional investors own 99.52% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on REXR. Bank of America downgraded shares of Rexford Industrial Realty from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $66.00 to $49.00 in a report on Monday, October 21st. Truist Financial lowered 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 note on Tuesday, November 12th. Evercore ISI reissued an “outperform” rating on shares of Rexford Industrial Realty in a research note on Friday, October 18th. Deutsche Bank Aktiengesellschaft started coverage on 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. Finally, Barclays reduced their target price on Rexford Industrial Realty from $44.00 to $41.00 and set an “underweight” rating on the stock in a research report on Monday, January 13th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $49.42.

Rexford Industrial Realty Stock Up 2.0 %

Shares of Rexford Industrial Realty stock opened at $40.34 on Tuesday. The firm has a market cap of $8.97 billion, a price-to-earnings ratio of 33.34, a P/E/G ratio of 2.28 and a beta of 0.95. The stock has a 50-day simple moving average of $39.68 and a 200-day simple moving average of $44.78. Rexford Industrial Realty, Inc. has a 52-week low of $36.92 and a 52-week high of $53.88. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.30 and a quick ratio of 1.20.

Rexford Industrial Realty (NYSE:REXR) last posted its earnings results on Wednesday, February 5th. The real estate investment trust reported $0.58 earnings per share for the quarter, topping the consensus estimate 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, equities research analysts expect that Rexford Industrial Realty, Inc. will post 2.39 earnings per share for the current fiscal year.

Rexford Industrial Realty Increases Dividend

The business also recently announced 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 annualized dividend and a dividend yield of 4.26%. The ex-dividend date is Monday, March 31st. This is a boost from Rexford Industrial Realty’s previous quarterly dividend of $0.42. Rexford Industrial Realty’s dividend payout ratio (DPR) is presently 142.15%.

About Rexford Industrial Realty

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.