PNC Financial Services Group Inc. Sells 3,861 Shares of Rexford Industrial Realty, Inc. (NYSE:REXR)

PNC Financial Services Group Inc. trimmed its stake in shares of Rexford Industrial Realty, Inc. (NYSE:REXR) by 39.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,912 shares of the real estate investment trust’s stock after selling 3,861 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Rexford Industrial Realty were worth $229,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in REXR. Quest Partners LLC bought a new position in shares of Rexford Industrial Realty during the third quarter worth about $449,000. Connor Clark & Lunn Investment Management Ltd. bought a new stake in Rexford Industrial Realty in the third quarter worth approximately $2,225,000. Advisors Asset Management Inc. increased its holdings in 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 in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its holdings in Rexford Industrial Realty by 9.8% in the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 350,199 shares of the real estate investment trust’s stock worth $17,619,000 after purchasing an additional 31,307 shares in the last quarter. Finally, Intech Investment Management LLC increased its holdings in Rexford Industrial Realty by 160.3% in the third quarter. Intech Investment Management LLC now owns 19,161 shares of the real estate investment trust’s stock worth $964,000 after purchasing an additional 11,800 shares in the last quarter. 99.52% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

REXR has been the subject of several recent research reports. Scotiabank decreased their price objective on Rexford Industrial Realty from $48.00 to $47.00 and set a “sector perform” rating for the company in a report on Friday, February 28th. Deutsche Bank Aktiengesellschaft initiated coverage on Rexford Industrial Realty in a report on Tuesday, January 14th. They set a “hold” rating and a $40.00 price objective for the company. 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. Mizuho decreased their price objective on Rexford Industrial Realty from $46.00 to $45.00 and set a “neutral” rating for the company in a report on Wednesday, January 8th. Finally, Robert W. Baird decreased their price objective on Rexford Industrial Realty from $48.00 to $47.00 and set a “neutral” rating for the company in a report on Tuesday, March 4th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $48.50.

Rexford Industrial Realty Stock Performance

Shares of REXR stock opened at $39.00 on Friday. 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 firm has a market cap of $8.89 billion, a price-to-earnings ratio of 32.23, a P/E/G ratio of 2.62 and a beta of 0.98. Rexford Industrial Realty, Inc. has a 52 week low of $36.92 and a 52 week high of $52.61. The firm’s 50-day simple moving average is $40.27 and its two-hundred day simple moving average is $42.78.

Rexford Industrial Realty (NYSE:REXR) last announced its quarterly earnings data on Wednesday, February 5th. The real estate investment trust reported $0.58 earnings per share for the quarter, topping 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%. As a group, equities analysts forecast that Rexford Industrial Realty, Inc. will post 2.38 earnings per share 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. Shareholders of record on Monday, March 31st will be issued a dividend of $0.43 per share. This is a boost from Rexford Industrial Realty’s previous quarterly dividend of $0.42. The ex-dividend date is Monday, March 31st. This represents a $1.72 dividend on an annualized basis and a yield of 4.41%. Rexford Industrial Realty’s 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.