Cibc World Markets Corp Raises Position in Rexford Industrial Realty, Inc. (NYSE:REXR)

Cibc World Markets Corp lifted its holdings in Rexford Industrial Realty, Inc. (NYSE:REXR - Free Report) by 11.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 64,604 shares of the real estate investment trust's stock after acquiring an additional 6,713 shares during the period. Cibc World Markets Corp's holdings in Rexford Industrial Realty were worth $2,498,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the business. Thrivent Financial for Lutherans lifted its stake in Rexford Industrial Realty by 160.9% in the third quarter. Thrivent Financial for Lutherans now owns 270,164 shares of the real estate investment trust's stock valued at $13,592,000 after buying an additional 166,604 shares during the period. Quest Partners LLC acquired a new position in shares of Rexford Industrial Realty during the 3rd quarter valued at $449,000. B. Metzler seel. Sohn & Co. Holding AG bought a new position in Rexford Industrial Realty during the third quarter worth $3,376,000. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Rexford Industrial Realty in the third quarter worth $2,225,000. Finally, Advisors Asset Management Inc. increased its stake in Rexford Industrial Realty by 49.5% in the third quarter. Advisors Asset Management Inc. now owns 2,913 shares of the real estate investment trust's stock valued at $147,000 after purchasing an additional 965 shares in the last quarter. 99.52% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

REXR has been the subject of several research reports. Robert W. Baird reduced their target price on Rexford Industrial Realty from $48.00 to $47.00 and set a "neutral" rating for the company in a research note on Tuesday, March 4th. JPMorgan Chase & Co. reduced their price objective on Rexford Industrial Realty from $45.00 to $44.00 and set a "neutral" rating for the company in a research note on Thursday, February 13th. Barclays lowered their target price on Rexford Industrial Realty from $41.00 to $38.00 and set an "underweight" rating on the stock in a research report on Tuesday. Scotiabank reduced their price target on shares of Rexford Industrial Realty from $48.00 to $47.00 and set a "sector perform" rating for the company in a research report on Friday, February 28th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on shares of Rexford Industrial Realty in a report on Tuesday, January 14th. They set a "hold" rating and a $40.00 price objective on the stock. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $48.25.

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Rexford Industrial Realty Stock Down 1.1 %

Rexford Industrial Realty stock traded down $0.45 during midday trading on Tuesday, hitting $39.72. 3,449,751 shares of the stock were exchanged, compared to its average volume of 1,863,797. Rexford Industrial Realty, Inc. has a 52-week low of $36.92 and a 52-week high of $52.61. The company has a quick ratio of 1.30, a current ratio of 1.30 and a debt-to-equity ratio of 0.39. The business's 50-day moving average price is $40.31 and its 200-day moving average price is $42.65. The stock has a market capitalization of $9.05 billion, a price-to-earnings ratio of 32.83, a price-to-earnings-growth ratio of 2.62 and a beta of 0.98.

Rexford Industrial Realty (NYSE:REXR - Get Free Report) last released its earnings results on Wednesday, February 5th. The real estate investment trust reported $0.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.27 by $0.31. Rexford Industrial Realty had a return on equity of 3.26% and a net margin of 29.10%. On average, research analysts expect that Rexford Industrial Realty, Inc. will post 2.38 EPS for the current fiscal year.

Rexford Industrial Realty Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be paid a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a dividend yield of 4.33%. This is a boost from Rexford Industrial Realty's previous quarterly dividend of $0.42. The ex-dividend date is Monday, March 31st. Rexford Industrial Realty's payout ratio is presently 142.15%.

Rexford Industrial Realty 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.