Norges Bank Makes New $104.69 Million Investment in Rexford Industrial Realty, Inc. (NYSE:REXR)

Norges Bank acquired a new position in shares of Rexford Industrial Realty, Inc. (NYSE:REXR - Free Report) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 2,707,848 shares of the real estate investment trust's stock, valued at approximately $104,685,000. Norges Bank owned approximately 1.22% of Rexford Industrial Realty as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of REXR. Quantbot Technologies LP acquired a new stake in shares of Rexford Industrial Realty during the 4th quarter worth approximately $33,000. UMB Bank n.a. boosted its holdings in shares of Rexford Industrial Realty by 38.9% in 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 in the last quarter. Whittier Trust Co. of Nevada Inc. boosted its holdings in shares of Rexford Industrial Realty by 515.7% in the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 1,490 shares of the real estate investment trust's stock valued at $58,000 after purchasing an additional 1,248 shares in the last quarter. SRS Capital Advisors Inc. increased its stake in shares of Rexford Industrial Realty by 4,104.5% in 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 during the last quarter. Finally, Exchange Traded Concepts LLC raised its holdings in shares of Rexford Industrial Realty by 13.2% during the 4th quarter. Exchange Traded Concepts LLC now owns 3,172 shares of the real estate investment trust's stock worth $123,000 after buying an additional 371 shares in the last quarter. 99.52% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

REXR has been the topic of several research analyst reports. Scotiabank reduced their price objective on Rexford Industrial Realty from $48.00 to $47.00 and set a "sector perform" rating on the stock in a research note on Friday, February 28th. Industrial Alliance Securities set a $38.00 price target on shares of Rexford Industrial Realty in a report on Tuesday, March 25th. Mizuho dropped their price objective on shares of Rexford Industrial Realty from $46.00 to $45.00 and set a "neutral" rating for the company in a research note on Wednesday, January 8th. JPMorgan Chase & Co. decreased their target price on shares of Rexford Industrial Realty from $45.00 to $44.00 and set a "neutral" rating on the stock in a research note on Thursday, February 13th. Finally, Deutsche Bank Aktiengesellschaft began coverage on Rexford Industrial Realty in a research note on Tuesday, January 14th. They issued a "hold" rating and a $40.00 price target for the company. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $46.83.

Rexford Industrial Realty Trading Down 3.3 %

NYSE:REXR traded down $1.18 during trading hours on Friday, hitting $34.69. 4,601,742 shares of the company were exchanged, compared to its average volume of 1,885,870. The company has a fifty day simple moving average of $40.11 and a 200 day simple moving average of $41.90. Rexford Industrial Realty, Inc. has a one year low of $33.80 and a one year high of $52.61. The stock has a market capitalization of $7.91 billion, a price-to-earnings ratio of 28.67, a price-to-earnings-growth ratio of 2.62 and a beta of 0.99. 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 (NYSE:REXR - Get Free Report) last posted 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 return on equity of 3.26% and a net margin of 29.10%. Sell-side analysts expect that Rexford Industrial Realty, Inc. will post 2.38 EPS for the current fiscal year.

Rexford Industrial Realty Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders 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 annualized dividend and a dividend yield of 4.96%. 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.