Prudential Financial Inc. lessened its position in Rexford Industrial Realty, Inc. (NYSE:REXR - Free Report) by 82.0% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 243,584 shares of the real estate investment trust's stock after selling 1,106,954 shares during the period. Prudential Financial Inc. owned 0.11% of Rexford Industrial Realty worth $9,417,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in REXR. Vanguard Group Inc. grew its stake in Rexford Industrial Realty by 1.9% in the fourth quarter. Vanguard Group Inc. now owns 29,931,981 shares of the real estate investment trust's stock worth $1,157,170,000 after purchasing an additional 562,710 shares during the period. LPL Financial LLC boosted its stake in Rexford Industrial Realty by 60.5% during the fourth quarter. LPL Financial LLC now owns 70,416 shares of the real estate investment trust's stock worth $2,722,000 after acquiring an additional 26,555 shares in the last quarter. KLP Kapitalforvaltning AS purchased a new stake in Rexford Industrial Realty in the fourth quarter worth about $1,717,000. Sei Investments Co. increased its stake in shares of Rexford Industrial Realty by 15.3% during the fourth quarter. Sei Investments Co. now owns 682,655 shares of the real estate investment trust's stock valued at $26,391,000 after purchasing an additional 90,476 shares in the last quarter. Finally, American Century Companies Inc. increased its stake in shares of Rexford Industrial Realty by 3.4% during the fourth quarter. American Century Companies Inc. now owns 74,987 shares of the real estate investment trust's stock valued at $2,899,000 after purchasing an additional 2,452 shares in the last quarter. Hedge funds and other institutional investors own 99.52% of the company's stock.
Rexford Industrial Realty Trading Down 9.0 %
Shares of REXR traded down $3.53 during trading hours on Thursday, reaching $35.88. 3,819,857 shares of the company traded hands, compared to its average volume of 1,872,563. The stock's fifty day moving average price is $40.24 and its 200 day moving average price is $42.15. The firm has a market cap of $8.18 billion, a price-to-earnings ratio of 29.65, a PEG ratio of 2.62 and a beta of 0.99. Rexford Industrial Realty, Inc. has a 12-month low of $35.84 and a 12-month high of $52.61. 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 results on Wednesday, February 5th. The real estate investment trust reported $0.58 earnings per share (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%. 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 company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be given a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a yield of 4.79%. The ex-dividend date is Monday, March 31st. This is a positive change from Rexford Industrial Realty's previous quarterly dividend of $0.42. Rexford Industrial Realty's dividend payout ratio (DPR) is currently 142.15%.
Analyst Upgrades and Downgrades
REXR has been the topic of several recent analyst reports. Barclays cut their price objective on shares of Rexford Industrial Realty from $41.00 to $38.00 and set an "underweight" rating on the stock in a research report on Tuesday, March 25th. Scotiabank dropped 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 report on Friday, February 28th. Industrial Alliance Securities set a $38.00 target price on Rexford Industrial Realty in a research report on Tuesday, March 25th. 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 target on the stock. Finally, JPMorgan Chase & Co. cut their target price on shares of Rexford Industrial Realty from $45.00 to $44.00 and set a "neutral" rating for the company in a research report on Thursday, February 13th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat, Rexford Industrial Realty has an average rating of "Hold" and a consensus target price of $46.83.
Read Our Latest Analysis on REXR
About Rexford Industrial Realty
(
Free Report)
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.
See Also
Before you consider Rexford Industrial Realty, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Rexford Industrial Realty wasn't on the list.
While Rexford Industrial Realty currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Wondering where to start (or end) with AI stocks? These 10 simple stocks can help investors build long-term wealth as artificial intelligence continues to grow into the future.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
