Franklin Resources Inc. Sells 29,545 Shares of Rexford Industrial Realty, Inc. (NYSE:REXR)

Franklin Resources Inc. lowered its position in shares of Rexford Industrial Realty, Inc. (NYSE:REXR - Free Report) by 3.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 793,195 shares of the real estate investment trust's stock after selling 29,545 shares during the period. Franklin Resources Inc. owned about 0.36% of Rexford Industrial Realty worth $30,665,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of REXR. Norges Bank purchased a new stake in Rexford Industrial Realty during the 4th quarter valued at about $104,685,000. JPMorgan Chase & Co. boosted its stake in shares of Rexford Industrial Realty by 26.9% during the third quarter. JPMorgan Chase & Co. now owns 4,503,571 shares of the real estate investment trust's stock valued at $226,575,000 after purchasing an additional 954,202 shares during the period. Duff & Phelps Investment Management Co. boosted its stake in shares of Rexford Industrial Realty by 40.4% during the fourth quarter. Duff & Phelps Investment Management Co. now owns 2,910,765 shares of the real estate investment trust's stock valued at $112,530,000 after purchasing an additional 837,630 shares during the period. Vanguard Group Inc. raised its stake in shares of Rexford Industrial Realty by 1.9% during the fourth quarter. Vanguard Group Inc. now owns 29,931,981 shares of the real estate investment trust's stock valued at $1,157,170,000 after acquiring an additional 562,710 shares during the last quarter. Finally, OFI Invest Asset Management purchased a new stake in shares of Rexford Industrial Realty during the fourth quarter worth about $13,959,000. 99.52% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

REXR has been the topic of several research analyst reports. JPMorgan Chase & Co. reduced their target price on Rexford Industrial Realty from $45.00 to $44.00 and set a "neutral" rating on the stock in a research note on Thursday, February 13th. Barclays cut their target price on shares of Rexford Industrial Realty from $41.00 to $38.00 and set an "underweight" rating on the stock in a research note on Tuesday, March 25th. Mizuho lowered their price objective on shares of Rexford Industrial Realty from $46.00 to $45.00 and set a "neutral" rating for the company in a report on Wednesday, January 8th. Robert W. Baird lowered their target price on Rexford Industrial Realty from $48.00 to $47.00 and set a "neutral" rating for the company in a research note on Tuesday, March 4th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on Rexford Industrial Realty in a report on Tuesday, January 14th. They issued a "hold" rating and a $40.00 price objective for the company. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $46.17.

Rexford Industrial Realty Stock Down 6.5 %

Shares of REXR stock traded down $2.21 during mid-day trading on Thursday, hitting $31.75. The company's stock had a trading volume of 712,263 shares, compared to its average volume of 2,301,175. The stock has a market cap of $7.24 billion, a price-to-earnings ratio of 26.33, a PEG ratio of 2.62 and a beta of 0.99. Rexford Industrial Realty, Inc. has a 52-week low of $29.68 and a 52-week 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 business has a 50-day moving average price of $39.31 and a 200 day moving average price of $41.39.

Rexford Industrial Realty (NYSE:REXR - Get Free Report) last issued 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%. Research analysts predict that Rexford Industrial Realty, Inc. will post 2.38 EPS 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. Shareholders of record on Monday, March 31st will be given a $0.43 dividend. This is a positive change from Rexford Industrial Realty's previous quarterly dividend of $0.42. This represents a $1.72 dividend on an annualized basis and a dividend yield of 5.42%. The ex-dividend date is Monday, March 31st. Rexford Industrial Realty's dividend payout ratio is presently 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.