Twin Capital Management Inc. acquired a new stake in shares of Rexford Industrial Realty, Inc. (NYSE:REXR - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 29,847 shares of the real estate investment trust's stock, valued at approximately $1,154,000.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in REXR. Quantbot Technologies LP acquired a new position in Rexford Industrial Realty during the fourth quarter worth about $33,000. UMB Bank n.a. increased its position in Rexford Industrial Realty by 38.9% during the 4th 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 in the last quarter. Whittier Trust Co. of Nevada Inc. lifted its stake in Rexford Industrial Realty by 515.7% in 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 during the last quarter. Pilgrim Partners Asia Pte Ltd acquired a new stake in Rexford Industrial Realty in the fourth quarter valued at approximately $65,000. Finally, SRS Capital Advisors Inc. boosted its position in Rexford Industrial Realty by 4,104.5% in the fourth quarter. SRS Capital Advisors Inc. now owns 2,775 shares of the real estate investment trust's stock valued at $107,000 after buying an additional 2,709 shares in the last quarter. 99.52% of the stock is currently owned by institutional investors.
Rexford Industrial Realty Trading Up 1.6 %
Shares of NYSE REXR traded up $0.50 during midday trading on Friday, reaching $32.44. The stock had a trading volume of 3,730,293 shares, compared to its average volume of 1,920,938. Rexford Industrial Realty, Inc. has a twelve month low of $29.68 and a twelve month 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 company's 50 day moving average price is $38.98 and its 200 day moving average price is $41.05. The firm has a market cap of $7.40 billion, a price-to-earnings ratio of 26.81, a price-to-earnings-growth ratio of 2.62 and a beta of 0.99.
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, beating 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%. As a group, sell-side analysts expect that Rexford Industrial Realty, Inc. will post 2.38 EPS for the current year.
Rexford Industrial Realty Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be paid a dividend of $0.43 per share. The ex-dividend date is Monday, March 31st. This represents a $1.72 annualized dividend and a yield of 5.30%. This is a boost from Rexford Industrial Realty's previous quarterly dividend of $0.42. Rexford Industrial Realty's dividend payout ratio (DPR) is currently 142.15%.
Analyst Upgrades and Downgrades
REXR has been the subject of a number of research reports. Robert W. Baird dropped 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. Industrial Alliance Securities set a $38.00 target price on Rexford Industrial Realty in a research report on Tuesday, March 25th. 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 price target on the stock. Scotiabank lowered 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 note on Monday, April 7th. Finally, JPMorgan Chase & Co. cut their target price on shares of Rexford Industrial Realty from $45.00 to $44.00 and set a "neutral" rating on the stock in a research report on Thursday, February 13th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, Rexford Industrial Realty currently has a consensus rating of "Hold" and an average target price of $46.17.
Get Our Latest Research Report on REXR
Rexford Industrial Realty Company Profile
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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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