Sterling Capital Management LLC Increases Holdings in Rexford Industrial Realty, Inc. (NYSE:REXR)

Sterling Capital Management LLC grew its stake in shares of Rexford Industrial Realty, Inc. (NYSE:REXR - Free Report) by 488.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 48,361 shares of the real estate investment trust's stock after acquiring an additional 40,140 shares during the period. Sterling Capital Management LLC's holdings in Rexford Industrial Realty were worth $1,870,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. UMB Bank n.a. raised its holdings in Rexford Industrial Realty by 38.9% during the fourth quarter. UMB Bank n.a. now owns 999 shares of the real estate investment trust's stock worth $39,000 after purchasing an additional 280 shares during the last quarter. CIBC Asset Management Inc increased its position in shares of Rexford Industrial Realty by 5.7% in the fourth quarter. CIBC Asset Management Inc now owns 6,572 shares of the real estate investment trust's stock valued at $254,000 after buying an additional 355 shares in the last quarter. Exchange Traded Concepts LLC raised its stake 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 during the last quarter. M&T Bank Corp boosted its position in shares of Rexford Industrial Realty by 1.5% in the 3rd quarter. M&T Bank Corp now owns 29,225 shares of the real estate investment trust's stock worth $1,470,000 after buying an additional 442 shares in the last quarter. Finally, Isthmus Partners LLC grew its stake in Rexford Industrial Realty by 7.3% in the 4th quarter. Isthmus Partners LLC now owns 6,887 shares of the real estate investment trust's stock valued at $266,000 after acquiring an additional 469 shares during the last quarter. Hedge funds and other institutional investors own 99.52% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on REXR. 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. Industrial Alliance Securities set a $38.00 target price on Rexford Industrial Realty in a research note on Tuesday, March 25th. Barclays lowered their target price on Rexford Industrial Realty from $41.00 to $38.00 and set an "underweight" rating on the stock in a report on Tuesday, March 25th. Mizuho reduced their price objective on 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, Scotiabank dropped 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. Two 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 data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $46.17.

Rexford Industrial Realty Trading Down 0.4 %

Shares of NYSE REXR traded down $0.12 on Friday, reaching $32.58. 4,910,036 shares of the company traded hands, compared to its average volume of 1,881,775. The company has a 50 day moving average of $38.20 and a 200 day moving average of $40.45. 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, Inc. has a fifty-two week low of $29.68 and a fifty-two week high of $52.61. The stock has a market capitalization of $7.69 billion, a PE ratio of 26.92, a P/E/G ratio of 2.62 and a beta of 0.99.

Rexford Industrial Realty (NYSE:REXR - Get Free Report) last issued its quarterly earnings results on Wednesday, April 16th. The real estate investment trust reported $0.62 EPS for the quarter, topping the consensus estimate of $0.57 by $0.05. The firm had revenue of $248.82 million during the quarter, compared to analyst estimates of $246.74 million. Rexford Industrial Realty had a net margin of 29.10% and a return on equity of 3.26%. On average, equities research analysts forecast that Rexford Industrial Realty, Inc. will post 2.38 earnings per share for the current fiscal year.

Rexford Industrial Realty Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Monday, June 30th will be issued a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a yield of 5.28%. The ex-dividend date is Monday, June 30th. Rexford Industrial Realty's payout ratio is currently 138.71%.

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.