Raymond James Financial Inc. acquired a new position in shares of Rexford Industrial Realty, Inc. (NYSE:REXR - Free Report) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 305,991 shares of the real estate investment trust's stock, valued at approximately $11,830,000. Raymond James Financial Inc. owned 0.14% of Rexford Industrial Realty as of its most recent SEC filing.
A number of other large investors have also modified their holdings of the stock. Arizona State Retirement System boosted its position in Rexford Industrial Realty by 1.6% during the 4th quarter. Arizona State Retirement System now owns 63,694 shares of the real estate investment trust's stock valued at $2,462,000 after purchasing an additional 973 shares during the period. Aigen Investment Management LP purchased a new position in Rexford Industrial Realty in the 4th quarter worth about $719,000. Proficio Capital Partners LLC acquired a new stake in Rexford Industrial Realty during the 4th quarter worth about $417,000. Charles Schwab Investment Management Inc. raised its holdings in shares of Rexford Industrial Realty by 3.5% during the fourth 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. Finally, State of Michigan Retirement System boosted its stake in Rexford Industrial Realty by 1.2% in the 4th quarter. State of Michigan Retirement System now owns 52,582 shares of the real estate investment trust's stock worth $2,033,000 after purchasing an additional 600 shares during the period. Institutional investors and hedge funds own 99.52% of the company's stock.
Rexford Industrial Realty Price Performance
Shares of REXR stock traded up $1.13 during trading hours on Monday, reaching $40.17. 2,336,779 shares of the company were exchanged, compared to its average volume of 1,863,940. Rexford Industrial Realty, Inc. has a fifty-two week low of $36.92 and a fifty-two week high of $52.61. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.30 and a quick ratio of 1.30. The stock's fifty day moving average is $40.27 and its two-hundred day moving average is $42.72. The company has a market cap of $9.16 billion, a price-to-earnings ratio of 33.20, a P/E/G ratio of 2.62 and a beta of 0.98.
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 earnings per share (EPS) for the quarter, topping the consensus estimate 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 fiscal 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 issued a $0.43 dividend. This is a boost from Rexford Industrial Realty's previous quarterly dividend of $0.42. The ex-dividend date is Monday, March 31st. This represents a $1.72 annualized dividend and a yield of 4.28%. Rexford Industrial Realty's dividend payout ratio (DPR) is currently 142.15%.
Analyst Upgrades and Downgrades
Several brokerages recently weighed in on REXR. Scotiabank cut their price objective on shares of 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. Robert W. Baird dropped their price objective 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. Deutsche Bank Aktiengesellschaft began coverage on Rexford Industrial Realty in a research note on Tuesday, January 14th. They set a "hold" rating and a $40.00 price target on the stock. Mizuho decreased 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 research report on Wednesday, January 8th. Finally, JPMorgan Chase & Co. dropped their target price on Rexford Industrial Realty from $45.00 to $44.00 and set a "neutral" rating for the company in a report on Thursday, February 13th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $48.50.
Check Out Our Latest Analysis on REXR
Rexford Industrial Realty Profile
(
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.
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