Rexford Industrial Realty, Inc. (NYSE:REXR) Shares Sold by FIL Ltd

FIL Ltd cut its stake in Rexford Industrial Realty, Inc. (NYSE:REXR - Free Report) by 63.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 83,597 shares of the real estate investment trust's stock after selling 145,560 shares during the quarter. FIL Ltd's holdings in Rexford Industrial Realty were worth $3,232,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in REXR. Paradigm Asset Management Co. LLC purchased a new stake in Rexford Industrial Realty during the fourth quarter worth $1,082,000. Charles Schwab Investment Management Inc. grew its position in shares of Rexford Industrial Realty by 3.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,782,904 shares of the real estate investment trust's stock valued at $107,587,000 after acquiring an additional 93,360 shares during the period. Impax Asset Management Group plc increased its stake in shares of Rexford Industrial Realty by 63.6% in the 4th quarter. Impax Asset Management Group plc now owns 21,691 shares of the real estate investment trust's stock valued at $839,000 after purchasing an additional 8,431 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in Rexford Industrial Realty by 26.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 4,503,571 shares of the real estate investment trust's stock worth $226,575,000 after purchasing an additional 954,202 shares during the period. Finally, Rothschild Investment LLC boosted its position in Rexford Industrial Realty by 760,280.0% during the fourth quarter. Rothschild Investment LLC now owns 38,019 shares of the real estate investment trust's stock worth $1,470,000 after purchasing an additional 38,014 shares in the last quarter. Institutional investors and hedge funds own 99.52% of the company's stock.

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Rexford Industrial Realty Trading Down 0.9 %

Shares of Rexford Industrial Realty stock traded down $0.30 during mid-day trading on Tuesday, hitting $32.53. The stock had a trading volume of 2,875,103 shares, compared to its average volume of 1,922,926. The firm has a 50-day moving average of $38.66 and a two-hundred day moving average of $40.86. The firm has a market cap of $7.41 billion, a P/E ratio of 26.88, a price-to-earnings-growth ratio of 2.62 and a beta of 0.99. 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 12-month low of $29.68 and a 12-month high of $52.61.

Rexford Industrial Realty (NYSE:REXR - Get Free Report) last posted its earnings results on Wednesday, February 5th. The real estate investment trust reported $0.58 EPS for the quarter, beating 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%. Sell-side analysts forecast 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 declared 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 is Monday, March 31st. This is a boost from Rexford Industrial Realty's previous quarterly dividend of $0.42. This represents a $1.72 dividend on an annualized basis and a dividend yield of 5.29%. Rexford Industrial Realty's dividend payout ratio (DPR) is currently 142.15%.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the company. JPMorgan Chase & Co. reduced their target price 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. Scotiabank decreased their price objective on shares of Rexford Industrial Realty from $47.00 to $39.00 and set a "sector perform" rating on the stock in a report on Monday, April 7th. Industrial Alliance Securities set a $38.00 price target on shares of Rexford Industrial Realty in a research report on Tuesday, March 25th. Barclays cut their price objective on Rexford Industrial Realty from $41.00 to $38.00 and set an "underweight" rating for the company in a research note on Tuesday, March 25th. Finally, Deutsche Bank Aktiengesellschaft started coverage on Rexford Industrial Realty in a research note on Tuesday, January 14th. They issued a "hold" rating and a $40.00 price target on the stock. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, Rexford Industrial Realty presently has an average rating of "Hold" and an average price target of $46.17.

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.