Rexford Industrial Realty: Fisher Asset Management LLC Decreases Position
Fisher Asset Management LLC Decreases Stake in Rexford Industrial Realty, Inc. (NYSE:REXR)
In a recent filing with the SEC, Fisher Asset Management LLC disclosed a 10.7% decrease in its position in Rexford Industrial Realty, Inc. (NYSE:REXR) during the 4th quarter. The fund sold 7,734 shares, bringing its total holdings to 64,683 shares valued at $3,629,000.
Other hedge funds have also made changes to their positions in Rexford Industrial Realty. GAMMA Investing LLC acquired a new stake in the company, Quarry LP raised its holdings, Principal Securities Inc. acquired a new position, International Assets Investment Management LLC grew its holdings significantly, and Cetera Trust Company N.A also acquired a new stake. Institutional investors and hedge funds now own 99.52% of the company’s stock.
Rexford Industrial Realty’s stock opened at $44.30 on Friday, with a market cap of $9.65 billion. The company’s price-to-earnings ratio is 40.64, and it has a beta of 0.93. The stock’s 1 year low is $41.56 and its high is $58.02. Analysts predict the company will post 2.34 earnings per share for the current year.
The company recently announced a quarterly dividend, with investors of record on June 28th receiving a $0.417 dividend. This represents a $1.67 dividend on an annualized basis and a dividend yield of 3.77%. Rexford Industrial Realty’s dividend payout ratio is currently 153.21%.
Several equities analysts have issued reports on REXR, with a consensus rating of “Hold” and a consensus price target of $52.44. Truist Financial, Wedbush, Scotiabank, Barclays, and Robert W. Baird are among the firms that have provided ratings and target prices for the stock.
Rexford Industrial Realty focuses on investing in, operating, and redeveloping industrial properties in Southern California. The company’s strategy allows for internal and external growth opportunities through its proprietary value creation and asset management capabilities.
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