Zurcher Kantonalbank Zurich Cantonalbank Acquires 46,703 Shares of Rexford Industrial Realty, Inc. (NYSE:REXR)

Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Rexford Industrial Realty, Inc. (NYSE:REXR - Free Report) by 50.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 139,566 shares of the real estate investment trust's stock after buying an additional 46,703 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank owned 0.06% of Rexford Industrial Realty worth $5,396,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. UMB Bank n.a. increased its stake in shares of Rexford Industrial Realty by 38.9% in the fourth quarter. UMB Bank n.a. now owns 999 shares of the real estate investment trust's stock valued at $39,000 after buying an additional 280 shares during the period. Archer Investment Corp increased its position in Rexford Industrial Realty by 61.5% in the 3rd quarter. Archer Investment Corp now owns 2,100 shares of the real estate investment trust's stock valued at $106,000 after acquiring an additional 800 shares during the period. Quarry LP raised its stake in shares of Rexford Industrial Realty by 239.6% during the third quarter. Quarry LP now owns 2,649 shares of the real estate investment trust's stock valued at $133,000 after acquiring an additional 1,869 shares during the last quarter. SRS Capital Advisors Inc. lifted its holdings in shares of Rexford Industrial Realty by 4,104.5% during the fourth quarter. SRS Capital Advisors Inc. now owns 2,775 shares of the real estate investment trust's stock worth $107,000 after purchasing an additional 2,709 shares during the period. Finally, Advisors Asset Management Inc. grew its stake in shares of Rexford Industrial Realty by 49.5% in the third quarter. Advisors Asset Management Inc. now owns 2,913 shares of the real estate investment trust's stock worth $147,000 after purchasing an additional 965 shares during the last quarter. Institutional investors and hedge funds own 99.52% of the company's stock.

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Analysts Set New Price Targets

Several brokerages recently issued reports on REXR. Mizuho lowered their target price on Rexford Industrial Realty from $46.00 to $45.00 and set a "neutral" rating for the company in a research report on Wednesday, January 8th. 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 report on Tuesday, March 4th. Barclays reduced their target price on Rexford Industrial Realty from $44.00 to $41.00 and set an "underweight" rating on the stock in a report on Monday, January 13th. Scotiabank decreased their target price on shares of Rexford Industrial Realty from $48.00 to $47.00 and set a "sector perform" rating for the company in a research report on Friday, February 28th. Finally, JPMorgan Chase & Co. dropped their price target 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 assigned a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $48.50.

Rexford Industrial Realty Stock Up 0.8 %

Shares of Rexford Industrial Realty stock traded up $0.32 during trading on Tuesday, reaching $40.70. 1,644,670 shares of the company traded hands, compared to its average volume of 1,836,730. The firm has a market capitalization of $9.28 billion, a PE ratio of 33.63, a P/E/G ratio of 2.62 and a beta of 0.98. Rexford Industrial Realty, Inc. has a 1-year low of $36.92 and a 1-year high of $52.61. The company has a 50 day moving average price of $40.09 and a 200-day moving average price of $43.02. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.30 and a quick ratio of 1.30.

Rexford Industrial Realty (NYSE:REXR - Get Free Report) last announced its quarterly earnings data on Wednesday, February 5th. The real estate investment trust reported $0.58 earnings per share 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, equities research analysts expect that Rexford Industrial Realty, Inc. will post 2.38 earnings per share for the current fiscal year.

Rexford Industrial Realty Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be issued a $0.43 dividend. The ex-dividend date is Monday, March 31st. This represents a $1.72 annualized dividend and a yield of 4.23%. This is a positive change from Rexford Industrial Realty's previous quarterly dividend of $0.42. Rexford Industrial Realty's dividend payout ratio is presently 142.15%.

Rexford Industrial Realty 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.