LPL Financial LLC grew its stake in shares of Rexford Industrial Realty, Inc. (NYSE:REXR - Free Report) by 60.5% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 70,416 shares of the real estate investment trust's stock after buying an additional 26,555 shares during the period. LPL Financial LLC's holdings in Rexford Industrial Realty were worth $2,722,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also made changes to their positions in REXR. KLP Kapitalforvaltning AS purchased a new stake in shares of Rexford Industrial Realty in the fourth quarter worth about $1,717,000. Sei Investments Co. grew its position in Rexford Industrial Realty by 15.3% in the fourth quarter. Sei Investments Co. now owns 682,655 shares of the real estate investment trust's stock valued at $26,391,000 after acquiring an additional 90,476 shares in the last quarter. American Century Companies Inc. lifted its position in shares of Rexford Industrial Realty by 3.4% during the fourth quarter. American Century Companies Inc. now owns 74,987 shares of the real estate investment trust's stock worth $2,899,000 after purchasing an additional 2,452 shares in the last quarter. Quantbot Technologies LP purchased a new position in shares of Rexford Industrial Realty in the fourth quarter valued at $33,000. Finally, Whittier Trust Co. of Nevada Inc. grew its holdings in Rexford Industrial Realty by 515.7% during the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 1,490 shares of the real estate investment trust's stock valued at $58,000 after purchasing an additional 1,248 shares in the last quarter. 99.52% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
Several analysts have recently weighed in on REXR shares. JPMorgan Chase & Co. lowered their target price on Rexford Industrial Realty from $45.00 to $44.00 and set a "neutral" rating for the company in a research note on Thursday, February 13th. Scotiabank dropped their price objective on Rexford Industrial Realty from $47.00 to $39.00 and set a "sector perform" rating on the stock in a report on Monday, April 7th. Deutsche Bank Aktiengesellschaft assumed coverage on Rexford Industrial Realty in a research note on Tuesday, January 14th. They set a "hold" rating and a $40.00 target price for the company. Robert W. Baird decreased their price target on shares of Rexford Industrial Realty from $48.00 to $47.00 and set a "neutral" rating for the company in a research report on Tuesday, March 4th. Finally, Mizuho cut their price target on shares of Rexford Industrial Realty from $46.00 to $45.00 and set a "neutral" rating on the stock in a report on Wednesday, January 8th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $46.17.
View Our Latest Stock Report on REXR
Rexford Industrial Realty Stock Performance
Shares of NYSE:REXR traded up $0.25 during trading on Thursday, reaching $32.95. 908,115 shares of the company's stock traded hands, compared to its average volume of 1,916,473. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.30 and a quick ratio of 1.30. The company has a 50 day moving average of $38.52 and a 200-day moving average of $40.81. Rexford Industrial Realty, Inc. has a 12 month low of $29.68 and a 12 month high of $52.61. The stock has a market capitalization of $7.51 billion, a P/E ratio of 27.23, 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, April 16th. The real estate investment trust reported $0.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.05. Rexford Industrial Realty had a return on equity of 3.26% and a net margin of 29.10%. The business had revenue of $248.82 million for the quarter, compared to the consensus estimate of $246.74 million. On average, equities analysts expect that Rexford Industrial Realty, Inc. will post 2.38 EPS for the current year.
Rexford Industrial Realty Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were given a dividend of $0.43 per share. The ex-dividend date was Monday, March 31st. This represents a $1.72 annualized dividend and a dividend yield of 5.22%. This is a positive change from Rexford Industrial Realty's previous quarterly dividend of $0.42. Rexford Industrial Realty's dividend payout ratio is currently 142.15%.
About Rexford Industrial Realty
(
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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