Massachusetts Financial Services Co. MA Has $130.18 Million Stock Position in Rexford Industrial Realty, Inc. (NYSE:REXR)

Massachusetts Financial Services Co. MA increased its position in Rexford Industrial Realty, Inc. (NYSE:REXR - Free Report) by 0.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,367,298 shares of the real estate investment trust's stock after purchasing an additional 28,079 shares during the period. Massachusetts Financial Services Co. MA owned 1.51% of Rexford Industrial Realty worth $130,180,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Geode Capital Management LLC boosted its holdings in Rexford Industrial Realty by 1.7% in the fourth quarter. Geode Capital Management LLC now owns 4,144,754 shares of the real estate investment trust's stock worth $160,282,000 after acquiring an additional 70,710 shares in the last quarter. Diametric Capital LP bought a new position in Rexford Industrial Realty in the 4th quarter worth about $247,000. Wellington Management Group LLP lifted its position in Rexford Industrial Realty by 15.0% in the 4th quarter. Wellington Management Group LLP now owns 2,604,622 shares of the real estate investment trust's stock valued at $100,695,000 after acquiring an additional 338,985 shares in the last quarter. Nomura Asset Management Co. Ltd. increased its holdings in shares of Rexford Industrial Realty by 5.9% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 299,041 shares of the real estate investment trust's stock worth $11,561,000 after purchasing an additional 16,640 shares in the last quarter. Finally, Duff & Phelps Investment Management Co. raised its stake in shares of Rexford Industrial Realty by 40.4% in the fourth quarter. Duff & Phelps Investment Management Co. now owns 2,910,765 shares of the real estate investment trust's stock worth $112,530,000 after purchasing an additional 837,630 shares during the last quarter. Hedge funds and other institutional investors own 99.52% of the company's stock.

Wall Street Analyst Weigh In

REXR has been the topic of a number of research reports. Robert W. Baird dropped their price target on Rexford Industrial Realty from $48.00 to $47.00 and set a "neutral" rating on the stock in a research note on Tuesday, March 4th. Barclays lowered 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. Industrial Alliance Securities set a $38.00 price objective on Rexford Industrial Realty in a research note on Tuesday, March 25th. Scotiabank decreased their price objective on Rexford Industrial Realty from $47.00 to $39.00 and set a "sector perform" rating for the company in a research note on Monday. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on Rexford Industrial Realty in a research note on Tuesday, January 14th. They issued a "hold" rating and a $40.00 price objective for the company. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $46.17.

Rexford Industrial Realty Stock Down 5.8 %

NYSE:REXR traded down $1.98 during trading hours on Thursday, hitting $31.98. 1,178,649 shares of the stock traded hands, compared to its average volume of 1,913,338. The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 0.39. The firm has a market cap of $7.29 billion, a price-to-earnings ratio of 26.38, a PEG ratio of 2.62 and a beta of 0.99. Rexford Industrial Realty, Inc. has a fifty-two week low of $29.68 and a fifty-two week high of $52.61. The firm has a 50 day moving average price of $39.31 and a 200 day moving average price of $41.39.

Rexford Industrial Realty (NYSE:REXR - Get Free Report) last issued its quarterly earnings data on Wednesday, February 5th. The real estate investment trust reported $0.58 earnings per share (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%. Equities research 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 declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be paid a $0.43 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $1.72 dividend on an annualized basis and a yield of 5.38%. This is a positive change from Rexford Industrial Realty's previous quarterly dividend of $0.42. Rexford Industrial Realty's dividend payout ratio is 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.