Resona Asset Management Co. Ltd. acquired a new stake in shares of Rexford Industrial Realty, Inc. (NYSE:REXR - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 88,336 shares of the real estate investment trust's stock, valued at approximately $3,419,000.
Several other large investors have also bought and sold shares of REXR. FMR LLC lifted its holdings in shares of Rexford Industrial Realty by 243.8% during the third quarter. FMR LLC now owns 275,669 shares of the real estate investment trust's stock valued at $13,869,000 after purchasing an additional 195,496 shares in the last quarter. HighTower Advisors LLC boosted its holdings in shares of Rexford Industrial Realty by 256.6% during the 3rd quarter. HighTower Advisors LLC now owns 57,431 shares of the real estate investment trust's stock valued at $2,909,000 after acquiring an additional 41,324 shares during the last quarter. Quantinno Capital Management LP boosted its holdings in shares of Rexford Industrial Realty by 14.3% during the 3rd quarter. Quantinno Capital Management LP now owns 13,939 shares of the real estate investment trust's stock valued at $701,000 after acquiring an additional 1,744 shares during the last quarter. Stifel Financial Corp raised its holdings in shares of Rexford Industrial Realty by 2.7% during the third quarter. Stifel Financial Corp now owns 53,402 shares of the real estate investment trust's stock valued at $2,687,000 after purchasing an additional 1,380 shares during the last quarter. Finally, Orion Portfolio Solutions LLC bought a new position in Rexford Industrial Realty during the third quarter valued at approximately $229,000. 99.52% of the stock is owned by hedge funds and other institutional investors.
Rexford Industrial Realty Price Performance
Shares of REXR traded down $0.00 during mid-day trading on Tuesday, reaching $32.82. The stock had a trading volume of 805,770 shares, compared to its average volume of 1,918,807. Rexford Industrial Realty, Inc. has a 12 month low of $29.68 and a 12 month high of $52.61. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.30 and a current ratio of 1.30. The firm has a market cap of $7.48 billion, a price-to-earnings ratio of 27.08, a PEG ratio of 2.62 and a beta of 0.99. The business has a fifty day moving average of $38.82 and a 200 day moving average of $40.92.
Rexford Industrial Realty (NYSE:REXR - Get Free Report) last issued its earnings results 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%. Equities analysts predict that Rexford Industrial Realty, Inc. will post 2.38 EPS for the current year.
Rexford Industrial Realty Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be paid a dividend of $0.43 per share. This is a positive change from Rexford Industrial Realty's previous quarterly dividend of $0.42. The ex-dividend date is Monday, March 31st. This represents a $1.72 dividend on an annualized basis and a dividend yield of 5.24%. Rexford Industrial Realty's payout ratio is presently 142.15%.
Analysts Set New Price Targets
A number of equities research analysts have commented on REXR shares. Deutsche Bank Aktiengesellschaft started coverage on shares of Rexford Industrial Realty in a research report on Tuesday, January 14th. They issued a "hold" rating and a $40.00 target price for the company. Scotiabank reduced 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 report on Monday, April 7th. JPMorgan Chase & Co. lowered their target price on Rexford Industrial Realty from $45.00 to $44.00 and set a "neutral" rating on the stock in a report on Thursday, February 13th. Industrial Alliance Securities set a $38.00 price target on Rexford Industrial Realty in a research note on Tuesday, March 25th. Finally, Robert W. Baird lowered 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 research note on Tuesday, March 4th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat, Rexford Industrial Realty has a consensus rating of "Hold" and a consensus target price of $46.17.
Check Out Our Latest Stock Analysis on REXR
Rexford Industrial Realty Profile
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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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