Rexford Industrial Realty, Inc. (NYSE:REXR) Stake Cut by Westpac Banking Corp

Westpac Banking Corp decreased its holdings in Rexford Industrial Realty, Inc. (NYSE:REXR - Free Report) by 11.8% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 65,814 shares of the real estate investment trust's stock after selling 8,825 shares during the quarter. Westpac Banking Corp's holdings in Rexford Industrial Realty were worth $2,544,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Bank of Montreal Can grew its holdings in Rexford Industrial Realty by 5.2% during the 3rd quarter. Bank of Montreal Can now owns 72,416 shares of the real estate investment trust's stock worth $3,658,000 after acquiring an additional 3,604 shares in the last quarter. FMR LLC grew its stake in 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 purchasing an additional 195,496 shares in the last quarter. HighTower Advisors LLC increased its holdings in Rexford Industrial Realty by 256.6% in 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 buying an additional 41,324 shares during the last quarter. IHT Wealth Management LLC raised its stake in Rexford Industrial Realty by 4.8% during the third quarter. IHT Wealth Management LLC now owns 6,451 shares of the real estate investment trust's stock valued at $325,000 after buying an additional 296 shares in the last quarter. Finally, Quarry LP lifted its holdings in 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 worth $133,000 after buying an additional 1,869 shares during the last quarter. Institutional investors and hedge funds own 99.52% of the company's stock.

Rexford Industrial Realty Price Performance

Shares of NYSE REXR traded up $2.40 during midday trading on Wednesday, reaching $33.97. The company's stock had a trading volume of 4,515,574 shares, compared to its average volume of 1,915,929. Rexford Industrial Realty, Inc. has a one year low of $29.68 and a one year high of $52.61. The company has a market cap of $7.74 billion, a price-to-earnings ratio of 28.07, a price-to-earnings-growth ratio of 2.62 and a beta of 0.99. The company has a 50 day moving average price of $39.31 and a 200 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.

Rexford Industrial Realty (NYSE:REXR - Get Free Report) last posted its quarterly 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 return on equity of 3.26% and a net margin of 29.10%. On average, equities research analysts expect that Rexford Industrial Realty, Inc. will post 2.38 EPS for the current year.

Rexford Industrial Realty Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be paid a $0.43 dividend. The ex-dividend date is Monday, March 31st. This represents a $1.72 dividend on an annualized basis and a yield of 5.06%. 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

Several research firms have recently commented on REXR. Barclays lowered their target price on Rexford Industrial Realty from $41.00 to $38.00 and set an "underweight" rating for the company in a report on Tuesday, March 25th. Robert W. Baird decreased their target price 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. Scotiabank cut their price target on Rexford Industrial Realty from $47.00 to $39.00 and set a "sector perform" rating on the stock in a report on Monday. JPMorgan Chase & Co. decreased their price objective on Rexford Industrial Realty from $45.00 to $44.00 and set a "neutral" rating for the company in a report on Thursday, February 13th. Finally, Mizuho lowered 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. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, Rexford Industrial Realty has an average rating of "Hold" and an average target price of $46.17.

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.