Wellington Management Group LLP Acquires 338,985 Shares of Rexford Industrial Realty, Inc. (NYSE:REXR)

Wellington Management Group LLP lifted its stake in shares of Rexford Industrial Realty, Inc. (NYSE:REXR - Free Report) by 15.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,604,622 shares of the real estate investment trust's stock after purchasing an additional 338,985 shares during the quarter. Wellington Management Group LLP owned about 1.14% of Rexford Industrial Realty worth $100,695,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in Rexford Industrial Realty by 1.9% in 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 period. JPMorgan Chase & Co. grew its position in Rexford Industrial Realty by 26.9% in the 3rd 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. Geode Capital Management LLC grew its position in Rexford Industrial Realty by 1.9% in the 3rd quarter. Geode Capital Management LLC now owns 4,074,044 shares of the real estate investment trust's stock valued at $205,014,000 after purchasing an additional 74,865 shares during the period. PGGM Investments increased its stake in Rexford Industrial Realty by 11.7% during the 4th quarter. PGGM Investments now owns 3,302,781 shares of the real estate investment trust's stock valued at $127,686,000 after purchasing an additional 344,972 shares in the last quarter. Finally, Boston Partners raised its holdings in Rexford Industrial Realty by 7.5% during the fourth quarter. Boston Partners now owns 3,160,272 shares of the real estate investment trust's stock worth $122,184,000 after buying an additional 221,478 shares during the last quarter. 99.52% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

REXR has been the subject of a number of analyst reports. Industrial Alliance Securities set a $38.00 price objective on shares of Rexford Industrial Realty in a report on Tuesday, March 25th. Scotiabank decreased their price objective on Rexford Industrial Realty from $47.00 to $39.00 and set a "sector perform" rating for the company in a report on Monday. Robert W. Baird lowered their price objective 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. Mizuho cut their target price on Rexford Industrial Realty from $46.00 to $45.00 and set a "neutral" rating on the stock in a research report on Wednesday, January 8th. Finally, Barclays lowered their price target on Rexford Industrial Realty from $41.00 to $38.00 and set an "underweight" rating for the company in a research report on Tuesday, March 25th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $46.17.

Rexford Industrial Realty Stock Performance

Shares of NYSE:REXR traded down $0.07 during midday trading on Tuesday, reaching $33.36. The company had a trading volume of 674,303 shares, compared to its average volume of 2,240,685. The stock has a market cap of $7.61 billion, a P/E ratio of 27.59, a P/E/G ratio of 2.62 and a beta of 0.99. The company's 50 day moving average price is $39.95 and its 200 day moving average price is $41.77. The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 0.39. Rexford Industrial Realty, Inc. has a 52-week low of $32.27 and a 52-week 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 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 anticipate that Rexford Industrial Realty, Inc. will post 2.38 EPS for the current fiscal year.

Rexford Industrial Realty Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be issued a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a yield of 5.16%. This is a positive change from Rexford Industrial Realty's previous quarterly dividend of $0.42. The ex-dividend date is Monday, March 31st. Rexford Industrial Realty's dividend payout ratio is 142.15%.

Rexford Industrial Realty Company 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.