Malaga Cove Capital LLC Acquires New Shares in Rexford Industrial Realty, Inc. (NYSE:REXR)

Malaga Cove Capital LLC bought a new position in shares of Rexford Industrial Realty, Inc. (NYSE:REXR) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 4,876 shares of the real estate investment trust’s stock, valued at approximately $274,000.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. GAMMA Investing LLC acquired a new stake in Rexford Industrial Realty during the 4th quarter worth approximately $41,000. Fifth Third Bancorp raised its stake in Rexford Industrial Realty by 58.2% during the third quarter. Fifth Third Bancorp now owns 1,117 shares of the real estate investment trust’s stock worth $55,000 after buying an additional 411 shares during the last quarter. Ninepoint Partners LP bought a new stake in Rexford Industrial Realty during the third quarter valued at $108,000. Signaturefd LLC grew its holdings in Rexford Industrial Realty by 45.9% during the 3rd quarter. Signaturefd LLC now owns 2,270 shares of the real estate investment trust’s stock worth $112,000 after acquiring an additional 714 shares during the period. Finally, International Assets Investment Management LLC raised its position in shares of Rexford Industrial Realty by 5,510.9% in the 4th quarter. International Assets Investment Management LLC now owns 3,086 shares of the real estate investment trust’s stock worth $173,000 after acquiring an additional 3,031 shares in the last quarter. Institutional investors own 99.52% of the company’s stock.

Insiders Place Their Bets

In other news, General Counsel David E. Lanzer sold 18,113 shares of the company’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $52.69, for a total transaction of $954,373.97. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 1.10% of the company’s stock.

Rexford Industrial Realty Stock Performance

REXR traded up $0.92 during trading on Friday, hitting $44.40. 1,705,347 shares of the company traded hands, compared to its average volume of 2,686,672. Rexford Industrial Realty, Inc. has a one year low of $41.56 and a one year high of $58.02. The stock’s fifty day moving average is $48.38 and its 200 day moving average is $50.22. The company has a quick ratio of 3.21, a current ratio of 3.21 and a debt-to-equity ratio of 0.41. The firm has a market cap of $9.67 billion, a P/E ratio of 40.73, a price-to-earnings-growth ratio of 1.90 and a beta of 0.89.

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

Rexford Industrial Realty Cuts Dividend

The firm 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 $0.417 dividend. 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 dividend payout ratio is 153.21%.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Barclays lifted their target price on Rexford Industrial Realty from $45.00 to $46.00 and gave the stock an “underweight” rating in a report on Tuesday, April 23rd. Mizuho restated a “neutral” rating and issued a $52.00 price target on shares of Rexford Industrial Realty in a report on Tuesday, April 2nd. Robert W. Baird dropped their price objective on shares of Rexford Industrial Realty from $57.00 to $49.00 and set a “neutral” rating on the stock in a report on Wednesday. TheStreet raised shares of Rexford Industrial Realty from a “c+” rating to a “b-” rating in a research note on Thursday, February 1st. Finally, Truist Financial decreased their target price on shares of Rexford Industrial Realty from $53.00 to $50.00 and set a “buy” rating for the company in a research report on Thursday. Two investment 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. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $53.36.

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.