Diamond Hill Capital Management Inc. Acquires Shares of 372,886 Rexford Industrial Realty, Inc. (NYSE:REXR)

Diamond Hill Capital Management Inc. bought a new stake in shares of Rexford Industrial Realty, Inc. (NYSE:REXR - Free Report) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 372,886 shares of the real estate investment trust's stock, valued at approximately $14,416,000. Diamond Hill Capital Management Inc. owned 0.17% of Rexford Industrial Realty at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the business. UMB Bank n.a. lifted its position in Rexford Industrial Realty by 38.9% during the 4th quarter. UMB Bank n.a. now owns 999 shares of the real estate investment trust's stock valued at $39,000 after purchasing an additional 280 shares during the period. IHT Wealth Management LLC raised its position in shares of Rexford Industrial Realty by 4.8% in the 3rd quarter. IHT Wealth Management LLC now owns 6,451 shares of the real estate investment trust's stock valued at $325,000 after acquiring an additional 296 shares during the period. CIBC Asset Management Inc raised its position in shares of Rexford Industrial Realty by 5.7% in the 4th quarter. CIBC Asset Management Inc now owns 6,572 shares of the real estate investment trust's stock valued at $254,000 after acquiring an additional 355 shares during the period. Exchange Traded Concepts LLC raised its position in shares of Rexford Industrial Realty by 13.2% in the 4th quarter. Exchange Traded Concepts LLC now owns 3,172 shares of the real estate investment trust's stock valued at $123,000 after acquiring an additional 371 shares during the period. Finally, M&T Bank Corp raised its position in shares of Rexford Industrial Realty by 1.5% in the 3rd quarter. M&T Bank Corp now owns 29,225 shares of the real estate investment trust's stock valued at $1,470,000 after acquiring an additional 442 shares during the period. 99.52% of the stock is currently owned by institutional investors and hedge funds.

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Analysts Set New Price Targets

A number of analysts recently weighed in on REXR shares. Deutsche Bank Aktiengesellschaft started 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 target on the stock. Robert W. Baird dropped their target price 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. Barclays dropped their target price on shares of Rexford Industrial Realty from $44.00 to $41.00 and set an "underweight" rating on the stock in a report on Monday, January 13th. Scotiabank dropped their target price on shares of Rexford Industrial Realty from $48.00 to $47.00 and set a "sector perform" rating on the stock in a report on Friday, February 28th. Finally, Mizuho dropped their target price on shares of Rexford Industrial Realty from $46.00 to $45.00 and set a "neutral" rating on the stock in a report on Wednesday, January 8th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $48.50.

Rexford Industrial Realty Stock Up 1.3 %

Shares of REXR stock traded up $0.52 during trading on Monday, reaching $40.51. The company's stock had a trading volume of 1,101,099 shares, compared to its average volume of 1,834,610. The business has a fifty day moving average price of $40.06 and a 200-day moving average price of $43.09. 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 company has a market cap of $9.23 billion, a price-to-earnings ratio of 33.44, a price-to-earnings-growth ratio of 2.62 and a beta of 0.98. Rexford Industrial Realty, Inc. has a one year low of $36.92 and a one year high of $52.61.

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

Rexford Industrial Realty Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be issued a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a yield of 4.25%. This is an increase from Rexford Industrial Realty's previous quarterly dividend of $0.42. The ex-dividend date of this dividend is Monday, March 31st. 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.