Synovus Financial Corp Invests $308,000 in Rexford Industrial Realty, Inc. (NYSE:REXR)

Synovus Financial Corp acquired a new stake in shares of Rexford Industrial Realty, Inc. (NYSE:REXR - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 7,966 shares of the real estate investment trust's stock, valued at approximately $308,000.

A number of other institutional investors have also recently made changes to their positions in the company. Paradigm Asset Management Co. LLC purchased a new position in shares of Rexford Industrial Realty in the 4th quarter worth $1,082,000. Charles Schwab Investment Management Inc. grew its position in Rexford Industrial Realty by 3.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,782,904 shares of the real estate investment trust's stock worth $107,587,000 after acquiring an additional 93,360 shares in the last quarter. Impax Asset Management Group plc increased its stake in Rexford Industrial Realty by 63.6% during the fourth quarter. Impax Asset Management Group plc now owns 21,691 shares of the real estate investment trust's stock worth $839,000 after acquiring an additional 8,431 shares during the last quarter. JPMorgan Chase & Co. raised its position in Rexford Industrial Realty by 26.9% during the third quarter. JPMorgan Chase & Co. now owns 4,503,571 shares of the real estate investment trust's stock valued at $226,575,000 after purchasing an additional 954,202 shares during the period. Finally, Rothschild Investment LLC lifted its stake in shares of Rexford Industrial Realty by 760,280.0% in the 4th quarter. Rothschild Investment LLC now owns 38,019 shares of the real estate investment trust's stock valued at $1,470,000 after purchasing an additional 38,014 shares during the last quarter. Hedge funds and other institutional investors own 99.52% of the company's stock.

Rexford Industrial Realty Stock Up 3.1 %

Shares of NYSE REXR traded up $0.99 during midday trading on Wednesday, reaching $33.20. 1,139,197 shares of the company's stock traded hands, compared to its average volume of 1,887,109. The company has a market cap of $7.84 billion, a price-to-earnings ratio of 27.44, a P/E/G ratio of 2.62 and a beta of 0.99. The stock's 50 day simple moving average is $37.86 and its 200-day simple moving average is $40.28. The company has a quick ratio of 1.30, a current ratio of 1.30 and a debt-to-equity ratio of 0.39. Rexford Industrial Realty, Inc. has a one year low of $29.68 and a one year high of $52.61.

Rexford Industrial Realty (NYSE:REXR - Get Free Report) last announced its quarterly earnings results on Wednesday, April 16th. The real estate investment trust reported $0.62 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.57 by $0.05. The business had revenue of $248.82 million for the quarter, compared to the consensus estimate of $246.74 million. Rexford Industrial Realty had a return on equity of 3.26% and a net margin of 29.10%. On average, analysts predict that Rexford Industrial Realty, Inc. will post 2.38 EPS for the current fiscal year.

Rexford Industrial Realty Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th will be given a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a dividend yield of 5.18%. The ex-dividend date is Monday, June 30th. Rexford Industrial Realty's payout ratio is 138.71%.

Wall Street Analysts Forecast Growth

REXR has been the topic of several recent research reports. Mizuho decreased their price target on Rexford Industrial Realty from $46.00 to $45.00 and set a "neutral" rating on the stock in a report on Wednesday, January 8th. Industrial Alliance Securities set a $38.00 target price on shares of Rexford Industrial Realty in a research note on Tuesday, March 25th. Scotiabank dropped their price target on shares of Rexford Industrial Realty from $47.00 to $39.00 and set a "sector perform" rating for the company in a research note on Monday, April 7th. Deutsche Bank Aktiengesellschaft began coverage on shares of Rexford Industrial Realty in a research report on Tuesday, January 14th. They issued a "hold" rating and a $40.00 price objective on the stock. Finally, Barclays dropped their target price on Rexford Industrial Realty from $41.00 to $38.00 and set an "underweight" rating for the company in a research report on Tuesday, March 25th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $44.64.

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.