Impax Asset Management Group plc Purchases 8,431 Shares of Rexford Industrial Realty, Inc. (NYSE:REXR)

Impax Asset Management Group plc grew its stake in Rexford Industrial Realty, Inc. (NYSE:REXR) by 63.6% in the 4th quarter, Holdings Channel reports. The firm owned 21,691 shares of the real estate investment trust’s stock after purchasing an additional 8,431 shares during the period. Impax Asset Management Group plc’s holdings in Rexford Industrial Realty were worth $839,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the stock. UMB Bank n.a. raised its holdings in Rexford Industrial Realty by 38.9% in the 4th quarter. UMB Bank n.a. now owns 999 shares of the real estate investment trust’s stock worth $39,000 after purchasing an additional 280 shares in the last quarter. IHT Wealth Management LLC raised its holdings in Rexford Industrial Realty by 4.8% in the 3rd quarter. IHT Wealth Management LLC now owns 6,451 shares of the real estate investment trust’s stock worth $325,000 after purchasing an additional 296 shares in the last quarter. CIBC Asset Management Inc raised its holdings in Rexford Industrial Realty by 5.7% in the 4th quarter. CIBC Asset Management Inc now owns 6,572 shares of the real estate investment trust’s stock worth $254,000 after purchasing an additional 355 shares in the last quarter. Exchange Traded Concepts LLC raised its holdings in Rexford Industrial Realty by 13.2% in the 4th quarter. Exchange Traded Concepts LLC now owns 3,172 shares of the real estate investment trust’s stock worth $123,000 after purchasing an additional 371 shares in the last quarter. Finally, M&T Bank Corp raised its holdings in Rexford Industrial Realty by 1.5% in the 3rd quarter. M&T Bank Corp now owns 29,225 shares of the real estate investment trust’s stock worth $1,470,000 after purchasing an additional 442 shares in the last quarter. 99.52% of the stock is currently owned by institutional investors.

Rexford Industrial Realty Stock Performance

Shares of NYSE REXR opened at $40.62 on Wednesday. The firm’s 50-day moving average price is $39.60 and its 200-day moving average price is $44.06. The company has a quick ratio of 1.30, a current ratio of 1.30 and a debt-to-equity ratio of 0.39. The company has a market cap of $9.26 billion, a PE ratio of 33.57, a PEG ratio of 2.62 and a beta of 0.95. Rexford Industrial Realty, Inc. has a 52-week low of $36.92 and a 52-week high of $53.88.

Rexford Industrial Realty (NYSE:REXR) last announced its quarterly earnings results on Wednesday, February 5th. The real estate investment trust reported $0.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.27 by $0.31. Rexford Industrial Realty had a net margin of 29.10% and a return on equity of 3.26%. As a group, analysts anticipate that Rexford Industrial Realty, Inc. will post 2.38 EPS for the current year.

Rexford Industrial Realty Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be issued a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a dividend yield of 4.23%. The ex-dividend date is Monday, March 31st. This is an increase from Rexford Industrial Realty’s previous quarterly dividend of $0.42. Rexford Industrial Realty’s dividend payout ratio (DPR) is presently 142.15%.

Analysts Set New Price Targets

Several brokerages recently issued reports on REXR. Deutsche Bank Aktiengesellschaft began coverage on shares of Rexford Industrial Realty in a research note on Tuesday, January 14th. They issued a “hold” rating and a $40.00 price target for the company. Mizuho decreased their price target on shares of Rexford Industrial Realty from $46.00 to $45.00 and set a “neutral” rating for the company in a research note on Wednesday, January 8th. Truist Financial decreased their price target 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. JPMorgan Chase & Co. decreased their price target on shares of Rexford Industrial Realty from $45.00 to $44.00 and set a “neutral” rating for the company in a research note on Thursday, February 13th. Finally, Barclays decreased their price target on shares of Rexford Industrial Realty from $44.00 to $41.00 and set an “underweight” rating for the company in a research note on Monday, January 13th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $48.75.

Rexford Industrial Realty Company 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.