HighTower Advisors LLC Sells 42,973 Shares of Rexford Industrial Realty, Inc. (NYSE:REXR)

HighTower Advisors LLC reduced its holdings in shares of Rexford Industrial Realty, Inc. (NYSE:REXR - Free Report) by 74.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 14,458 shares of the real estate investment trust's stock after selling 42,973 shares during the period. HighTower Advisors LLC's holdings in Rexford Industrial Realty were worth $559,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the business. Isthmus Partners LLC grew its stake in Rexford Industrial Realty by 7.3% during the fourth quarter. Isthmus Partners LLC now owns 6,887 shares of the real estate investment trust's stock worth $266,000 after purchasing an additional 469 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Rexford Industrial Realty by 50.3% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 139,566 shares of the real estate investment trust's stock worth $5,396,000 after buying an additional 46,703 shares during the period. OFI Invest Asset Management bought a new stake in shares of Rexford Industrial Realty in the 4th quarter valued at $13,959,000. Amundi lifted its position in shares of Rexford Industrial Realty by 0.8% during the 4th quarter. Amundi now owns 119,708 shares of the real estate investment trust's stock valued at $4,579,000 after acquiring an additional 956 shares during the period. Finally, Davis Selected Advisers lifted its position in shares of Rexford Industrial Realty by 62.3% during the 4th quarter. Davis Selected Advisers now owns 339,590 shares of the real estate investment trust's stock valued at $13,129,000 after acquiring an additional 130,340 shares during the period. 99.52% of the stock is owned by institutional investors.

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Wall Street Analysts Forecast Growth

Several research firms have weighed in on REXR. Barclays decreased their price target on shares of 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. Mizuho dropped their price target on Rexford Industrial Realty from $46.00 to $45.00 and set a "neutral" rating on the stock in a research note on Wednesday, January 8th. Scotiabank reduced their price objective on Rexford Industrial Realty from $48.00 to $47.00 and set a "sector perform" rating for the company in a research note on Friday, February 28th. Industrial Alliance Securities set a $38.00 price objective on Rexford Industrial Realty in a report on Tuesday, March 25th. Finally, JPMorgan Chase & Co. cut 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. Two 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 stock. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $46.83.

Rexford Industrial Realty Stock Down 0.5 %

NYSE:REXR traded down $0.21 during trading hours on Wednesday, hitting $38.93. 58,059 shares of the company traded hands, compared to its average volume of 2,154,380. The company has a quick ratio of 1.30, a current ratio of 1.30 and a debt-to-equity ratio of 0.39. The company has a market cap of $8.88 billion, a PE ratio of 32.18, a PEG ratio of 2.62 and a beta of 0.98. The firm's 50-day simple moving average is $40.33 and its 200-day simple moving average is $42.21. Rexford Industrial Realty, Inc. has a one year low of $36.92 and a one year high of $52.61.

Rexford Industrial Realty (NYSE:REXR - Get Free Report) last released its quarterly earnings results on Wednesday, February 5th. The real estate investment trust reported $0.58 earnings per share for the quarter, topping the consensus estimate of $0.27 by $0.31. Rexford Industrial Realty had a net margin of 29.10% and a return on equity of 3.26%. Equities analysts predict that Rexford Industrial Realty, Inc. will post 2.38 earnings per share for the current year.

Rexford Industrial Realty Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be issued a $0.43 dividend. The ex-dividend date of this dividend is Monday, March 31st. This is a positive change from Rexford Industrial Realty's previous quarterly dividend of $0.42. This represents a $1.72 annualized dividend and a dividend yield of 4.42%. Rexford Industrial Realty's dividend payout ratio is currently 142.15%.

Rexford Industrial Realty 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.