Avantax Advisory Services Inc. Sells 11,622 Shares of Rexford Industrial Realty, Inc. (NYSE:REXR)

Avantax Advisory Services Inc. lessened its stake in Rexford Industrial Realty, Inc. (NYSE:REXR) by 46.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,436 shares of the real estate investment trust’s stock after selling 11,622 shares during the quarter. Avantax Advisory Services Inc.’s holdings in Rexford Industrial Realty were worth $519,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the company. JPMorgan Chase & Co. raised its holdings 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 worth $226,575,000 after acquiring an additional 954,202 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Rexford Industrial Realty by 1.9% during the 3rd quarter. Geode Capital Management LLC now owns 4,074,044 shares of the real estate investment trust’s stock worth $205,014,000 after acquiring an additional 74,865 shares during the last quarter. Massachusetts Financial Services Co. MA increased its holdings in Rexford Industrial Realty by 14.8% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 3,339,219 shares of the real estate investment trust’s stock worth $167,996,000 after acquiring an additional 431,659 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in Rexford Industrial Realty by 3.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,782,904 shares of the real estate investment trust’s stock worth $107,587,000 after acquiring an additional 93,360 shares during the period. Finally, Wellington Management Group LLP lifted its holdings in Rexford Industrial Realty by 1.9% during the third quarter. Wellington Management Group LLP now owns 2,265,637 shares of the real estate investment trust’s stock valued at $113,984,000 after purchasing an additional 42,450 shares in the last quarter. Institutional investors own 99.52% of the company’s stock.

Rexford Industrial Realty Stock Performance

Rexford Industrial Realty stock opened at $39.00 on Friday. The company’s 50-day moving average price is $40.27 and its 200-day moving average price is $42.78. The company has a quick ratio of 1.30, a current ratio of 1.30 and a debt-to-equity ratio of 0.39. The company has a market cap of $8.89 billion, a PE ratio of 32.23, a price-to-earnings-growth ratio of 2.62 and a beta of 0.98. Rexford Industrial Realty, Inc. has a twelve month low of $36.92 and a twelve month high of $52.61.

Rexford Industrial Realty (NYSE:REXR) last released its quarterly earnings results 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 return on equity of 3.26% and a net margin of 29.10%. On average, equities research analysts forecast that Rexford Industrial Realty, Inc. will post 2.38 EPS 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. Investors of record on Monday, March 31st will be paid a dividend of $0.43 per share. The ex-dividend date of this dividend is Monday, March 31st. This is a boost from Rexford Industrial Realty’s previous quarterly dividend of $0.42. This represents a $1.72 dividend on an annualized basis and a dividend yield of 4.41%. Rexford Industrial Realty’s payout ratio is currently 142.15%.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on REXR. JPMorgan Chase & Co. dropped their target price on shares of Rexford Industrial Realty from $45.00 to $44.00 and set a “neutral” rating for the company in a report on Thursday, February 13th. Barclays dropped their price objective on Rexford Industrial Realty from $44.00 to $41.00 and set an “underweight” rating for the company in a research note on Monday, January 13th. Scotiabank dropped their price target on Rexford Industrial Realty from $48.00 to $47.00 and set a “sector perform” rating for the company in a research note on Friday, February 28th. Robert W. Baird reduced their price objective on shares of 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. Finally, Mizuho dropped their target price on shares of 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. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $48.50.

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.