Malaga Cove Capital LLC Purchases Shares of 4,876 Rexford Industrial Realty, Inc. (NYSE:REXR)

Malaga Cove Capital LLC acquired a new stake in shares of Rexford Industrial Realty, Inc. (NYSE:REXR) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 4,876 shares of the real estate investment trust’s stock, valued at approximately $274,000.

Several other large investors have also modified their holdings of the stock. Amalgamated Bank boosted its holdings in Rexford Industrial Realty by 0.8% in the fourth quarter. Amalgamated Bank now owns 131,198 shares of the real estate investment trust’s stock valued at $7,360,000 after acquiring an additional 981 shares during the last quarter. New York Life Investment Management LLC lifted its stake in shares of Rexford Industrial Realty by 188.9% in the 4th quarter. New York Life Investment Management LLC now owns 92,561 shares of the real estate investment trust’s stock valued at $5,193,000 after purchasing an additional 60,517 shares in the last quarter. Victory Capital Management Inc. lifted its stake in shares of Rexford Industrial Realty by 19.7% in the 4th quarter. Victory Capital Management Inc. now owns 45,851 shares of the real estate investment trust’s stock valued at $2,572,000 after purchasing an additional 7,533 shares in the last quarter. Van ECK Associates Corp grew its holdings in shares of Rexford Industrial Realty by 15.9% during the 4th quarter. Van ECK Associates Corp now owns 79,137 shares of the real estate investment trust’s stock worth $4,440,000 after purchasing an additional 10,828 shares during the period. Finally, Retirement Systems of Alabama increased its position in Rexford Industrial Realty by 1.4% during the 4th quarter. Retirement Systems of Alabama now owns 468,787 shares of the real estate investment trust’s stock worth $26,299,000 after purchasing an additional 6,621 shares in the last quarter. 99.52% of the stock is currently owned by hedge funds and other institutional investors.

Rexford Industrial Realty Stock Performance

Rexford Industrial Realty stock traded up $0.92 during mid-day trading on Friday, reaching $44.40. The company’s stock had a trading volume of 1,705,347 shares, compared to its average volume of 2,686,672. The company has a current ratio of 3.21, a quick ratio of 3.21 and a debt-to-equity ratio of 0.41. Rexford Industrial Realty, Inc. has a twelve month low of $41.56 and a twelve month high of $58.02. The business has a 50 day moving average price of $48.38 and a 200-day moving average price of $50.22. The firm has a market cap of $9.67 billion, a price-to-earnings ratio of 40.73, a PEG ratio of 1.90 and a beta of 0.89.

Rexford Industrial Realty (NYSE:REXR) last released its quarterly earnings data on Thursday, April 18th. The real estate investment trust reported $0.27 earnings per share for the quarter, missing the consensus estimate of $0.57 by ($0.30). The business had revenue of $214.10 million for the quarter, compared to analyst estimates of $207.39 million. Rexford Industrial Realty had a return on equity of 3.04% and a net margin of 28.84%. Rexford Industrial Realty’s revenue was up 15.0% compared to the same quarter last year. During the same quarter last year, the company earned $0.52 EPS. Sell-side analysts predict that Rexford Industrial Realty, Inc. will post 2.35 EPS for the current fiscal year.

Rexford Industrial Realty Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Friday, June 28th will be paid a dividend of $0.417 per share. The ex-dividend date of this dividend is Friday, June 28th. This represents a $1.67 dividend on an annualized basis and a yield of 3.76%. Rexford Industrial Realty’s payout ratio is currently 153.21%.

Analyst Ratings Changes

Several research firms have issued reports on REXR. Barclays boosted their price objective on shares of Rexford Industrial Realty from $45.00 to $46.00 and gave the stock an “underweight” rating in a research note on Tuesday, April 23rd. Mizuho reissued a “neutral” rating and set a $52.00 price target on shares of Rexford Industrial Realty in a research report on Tuesday, April 2nd. Wedbush assumed coverage on shares of Rexford Industrial Realty in a research note on Monday, April 22nd. They set a “neutral” rating and a $45.00 price objective on the stock. Robert W. Baird decreased their target price on shares of Rexford Industrial Realty from $57.00 to $49.00 and set a “neutral” rating for the company in a research note on Wednesday. Finally, TheStreet raised shares of Rexford Industrial Realty from a “c+” rating to a “b-” rating in a research note on Thursday, February 1st. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $53.36.

Insiders Place Their Bets

In other Rexford Industrial Realty news, General Counsel David E. Lanzer sold 18,113 shares of the firm’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $52.69, for a total value of $954,373.97. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.10% of the stock is owned by corporate insiders.

Rexford Industrial Realty Company 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.