Sun Life Financial Inc. Raises Position in Rexford Industrial Realty, Inc. (NYSE:REXR)

Sun Life Financial Inc. raised its position in shares of Rexford Industrial Realty, Inc. (NYSE:REXR - Free Report) by 7.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 160,448 shares of the real estate investment trust's stock after purchasing an additional 10,870 shares during the quarter. Rexford Industrial Realty accounts for 0.3% of Sun Life Financial Inc.'s investment portfolio, making the stock its 27th biggest holding. Sun Life Financial Inc. owned about 0.07% of Rexford Industrial Realty worth $6,203,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. UMB Bank n.a. boosted its position 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 valued at $39,000 after purchasing an additional 280 shares during the last quarter. IHT Wealth Management LLC increased 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 buying an additional 296 shares during the last quarter. CIBC Asset Management Inc raised its position in Rexford Industrial Realty by 5.7% during 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 acquiring an additional 355 shares in the last quarter. Exchange Traded Concepts LLC lifted its stake in Rexford Industrial Realty by 13.2% in the fourth quarter. Exchange Traded Concepts LLC now owns 3,172 shares of the real estate investment trust's stock valued at $123,000 after acquiring an additional 371 shares during the last quarter. Finally, M&T Bank Corp grew its position in Rexford Industrial Realty by 1.5% in the third quarter. M&T Bank Corp now owns 29,225 shares of the real estate investment trust's stock worth $1,470,000 after acquiring an additional 442 shares in the last quarter. Hedge funds and other institutional investors own 99.52% of the company's stock.

Analyst Ratings Changes

Several research firms recently commented on REXR. Scotiabank cut their target price on shares of Rexford Industrial Realty from $47.00 to $39.00 and set a "sector perform" rating for the company in a research note on Monday. Robert W. Baird decreased their target price on Rexford Industrial Realty from $48.00 to $47.00 and set a "neutral" rating on the stock in a research report on Tuesday, March 4th. Industrial Alliance Securities set a $38.00 price target on shares of Rexford Industrial Realty in a report on Tuesday, March 25th. Deutsche Bank Aktiengesellschaft started coverage on shares of Rexford Industrial Realty in a research note on Tuesday, January 14th. They issued a "hold" rating and a $40.00 target price on the stock. Finally, Mizuho dropped their target price on Rexford Industrial Realty from $46.00 to $45.00 and set a "neutral" rating for the company in a report on Wednesday, January 8th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, Rexford Industrial Realty currently has a consensus rating of "Hold" and an average price target of $46.17.

Rexford Industrial Realty Trading Down 5.2 %

Shares of REXR traded down $1.76 on Thursday, reaching $32.20. 2,046,346 shares of the company's stock were exchanged, compared to its average volume of 1,916,734. The business has a 50 day moving average price of $39.31 and a two-hundred day moving average price of $41.39. The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 0.39. The stock has a market capitalization of $7.34 billion, a P/E ratio of 26.43, a price-to-earnings-growth ratio of 2.62 and a beta of 0.99. Rexford Industrial Realty, Inc. has a 12 month low of $29.68 and a 12 month high of $52.61.

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

Rexford Industrial Realty Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be given a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a yield of 5.34%. This is a boost from Rexford Industrial Realty's previous quarterly dividend of $0.42. The ex-dividend date of this dividend is Monday, March 31st. Rexford Industrial Realty's dividend payout ratio is currently 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.