Rexford Industrial Realty, Inc. (NYSE:REXR) Shares Sold by Ilmarinen Mutual Pension Insurance Co

Ilmarinen Mutual Pension Insurance Co lowered its stake in shares of Rexford Industrial Realty, Inc. (NYSE:REXR - Free Report) by 51.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 34,000 shares of the real estate investment trust's stock after selling 36,000 shares during the quarter. Ilmarinen Mutual Pension Insurance Co's holdings in Rexford Industrial Realty were worth $1,314,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of the stock. FMR LLC grew its stake in shares of Rexford Industrial Realty by 243.8% in the third quarter. FMR LLC now owns 275,669 shares of the real estate investment trust's stock worth $13,869,000 after acquiring an additional 195,496 shares during the last quarter. HighTower Advisors LLC lifted its holdings in shares of Rexford Industrial Realty by 256.6% during the third quarter. HighTower Advisors LLC now owns 57,431 shares of the real estate investment trust's stock valued at $2,909,000 after purchasing an additional 41,324 shares in the last quarter. IHT Wealth Management LLC boosted its holdings in Rexford Industrial Realty by 4.8% in the third quarter. IHT Wealth Management LLC now owns 6,451 shares of the real estate investment trust's stock worth $325,000 after purchasing an additional 296 shares during the last quarter. Quarry LP lifted its holdings in shares of Rexford Industrial Realty by 239.6% during the 3rd quarter. Quarry LP now owns 2,649 shares of the real estate investment trust's stock valued at $133,000 after buying an additional 1,869 shares during the period. Finally, Quantinno Capital Management LP grew its holdings in shares of Rexford Industrial Realty by 14.3% in the third quarter. Quantinno Capital Management LP now owns 13,939 shares of the real estate investment trust's stock worth $701,000 after acquiring an additional 1,744 shares during the period. 99.52% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

REXR has been the topic of several recent research reports. Deutsche Bank Aktiengesellschaft began coverage on shares of Rexford Industrial Realty in a research note on Tuesday, January 14th. They issued a "hold" rating and a $40.00 price objective on the stock. Industrial Alliance Securities set a $38.00 price objective on shares of Rexford Industrial Realty in a research note on Tuesday, March 25th. Robert W. Baird cut their price target 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. JPMorgan Chase & Co. lowered their price target 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. Finally, Barclays cut their price objective on shares of Rexford Industrial Realty from $41.00 to $38.00 and set an "underweight" rating for the company in a report on Tuesday, March 25th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $46.17.

Rexford Industrial Realty Price Performance

Shares of Rexford Industrial Realty stock traded down $0.29 on Friday, hitting $31.66. 1,323,130 shares of the company were exchanged, compared to its average volume of 1,914,060. Rexford Industrial Realty, Inc. has a 1-year low of $29.68 and a 1-year high of $52.61. 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 50-day moving average price of $39.15 and a 200 day moving average price of $41.25. The stock has a market capitalization of $7.22 billion, a price-to-earnings ratio of 26.11, a price-to-earnings-growth ratio of 2.62 and a beta of 0.99.

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

Rexford Industrial Realty Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be given a dividend of $0.43 per share. This is an increase from Rexford Industrial Realty's previous quarterly dividend of $0.42. This represents a $1.72 annualized dividend and a yield of 5.43%. The ex-dividend date of this dividend is Monday, March 31st. Rexford Industrial Realty's dividend payout ratio (DPR) is presently 142.15%.

About Rexford Industrial Realty

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.