Avantax Advisory Services Inc. Sells 11,622 Shares of Rexford Industrial Realty, Inc. (NYSE:REXR)

Avantax Advisory Services Inc. lessened its position in shares of Rexford Industrial Realty, Inc. (NYSE:REXR - Free Report) by 46.4% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 13,436 shares of the real estate investment trust's stock after selling 11,622 shares during the quarter. Avantax Advisory Services Inc.'s holdings in Rexford Industrial Realty were worth $519,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of REXR. UMB Bank n.a. grew its stake in Rexford Industrial Realty by 38.9% in the fourth quarter. UMB Bank n.a. now owns 999 shares of the real estate investment trust's stock valued at $39,000 after acquiring an additional 280 shares during the period. Quarry LP grew its position in Rexford Industrial Realty by 239.6% in the 3rd quarter. Quarry LP now owns 2,649 shares of the real estate investment trust's stock valued at $133,000 after purchasing an additional 1,869 shares during the period. SRS Capital Advisors Inc. increased its stake in Rexford Industrial Realty by 4,104.5% during the 4th quarter. SRS Capital Advisors Inc. now owns 2,775 shares of the real estate investment trust's stock valued at $107,000 after purchasing an additional 2,709 shares in the last quarter. Advisors Asset Management Inc. raised its holdings in Rexford Industrial Realty by 49.5% during the third quarter. Advisors Asset Management Inc. now owns 2,913 shares of the real estate investment trust's stock worth $147,000 after buying an additional 965 shares during the last quarter. Finally, Exchange Traded Concepts LLC lifted its stake in shares of Rexford Industrial Realty by 13.2% in the fourth quarter. Exchange Traded Concepts LLC now owns 3,172 shares of the real estate investment trust's stock valued at $123,000 after buying an additional 371 shares in the last quarter. Institutional investors own 99.52% of the company's stock.

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Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on REXR shares. Barclays lowered their price target on Rexford Industrial Realty from $41.00 to $38.00 and set an "underweight" rating for the company in a research report on Tuesday. Deutsche Bank Aktiengesellschaft started coverage on shares of Rexford Industrial Realty in a report on Tuesday, January 14th. They issued a "hold" rating and a $40.00 target price for the company. Robert W. Baird cut their price target on shares of Rexford Industrial Realty from $48.00 to $47.00 and set a "neutral" rating on the stock in a report on Tuesday, March 4th. JPMorgan Chase & Co. reduced their price objective on shares of Rexford Industrial Realty from $45.00 to $44.00 and set a "neutral" rating for the company in a research report on Thursday, February 13th. Finally, Industrial Alliance Securities set a $38.00 target price on shares of Rexford Industrial Realty in a research report on Tuesday. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat, Rexford Industrial Realty presently has a consensus rating of "Hold" and an average target price of $46.83.

Rexford Industrial Realty Price Performance

Shares of Rexford Industrial Realty stock traded up $0.29 during trading on Wednesday, hitting $39.90. The stock had a trading volume of 1,531,583 shares, compared to its average volume of 1,868,878. The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 0.39. Rexford Industrial Realty, Inc. has a 12 month low of $36.92 and a 12 month high of $52.61. The firm has a market cap of $9.09 billion, a price-to-earnings ratio of 32.97, a P/E/G ratio of 2.62 and a beta of 0.98. The business's 50-day moving average is $40.32 and its 200 day moving average is $42.59.

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

Rexford Industrial Realty Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be given a dividend of $0.43 per share. The ex-dividend date of this dividend is Monday, March 31st. This is a positive change from Rexford Industrial Realty's previous quarterly dividend of $0.42. This represents a $1.72 annualized dividend and a yield of 4.31%. Rexford Industrial Realty's payout ratio is presently 142.15%.

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.