Rexford Industrial Realty, Inc. (NYSE:REXR) Shares Sold by Commonwealth Equity Services LLC

Commonwealth Equity Services LLC reduced its holdings in Rexford Industrial Realty, Inc. (NYSE:REXR) by 5.9% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 94,770 shares of the real estate investment trust’s stock after selling 5,933 shares during the quarter. Commonwealth Equity Services LLC’s holdings in Rexford Industrial Realty were worth $3,664,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. UMB Bank n.a. grew 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 worth $39,000 after purchasing an additional 280 shares in the last quarter. IHT Wealth Management LLC raised its position in Rexford Industrial Realty by 4.8% in the third quarter. IHT Wealth Management LLC now owns 6,451 shares of the real estate investment trust’s stock worth $325,000 after acquiring an additional 296 shares in the last quarter. CIBC Asset Management Inc lifted its holdings in Rexford Industrial Realty by 5.7% in the 4th quarter. CIBC Asset Management Inc now owns 6,572 shares of the real estate investment trust’s stock valued at $254,000 after acquiring an additional 355 shares during the last quarter. Exchange Traded Concepts LLC grew its stake in shares of Rexford Industrial Realty by 13.2% in the 4th quarter. Exchange Traded Concepts LLC now owns 3,172 shares of the real estate investment trust’s stock worth $123,000 after purchasing an additional 371 shares during the last quarter. Finally, M&T Bank Corp grew its stake in shares of Rexford Industrial Realty by 1.5% in the 3rd quarter. M&T Bank Corp now owns 29,225 shares of the real estate investment trust’s stock worth $1,470,000 after purchasing an additional 442 shares during the last quarter. 99.52% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts recently commented on REXR shares. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Rexford Industrial Realty in a research note on Tuesday, January 14th. They set a “hold” rating and a $40.00 target price for the company. Scotiabank reduced their price objective 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. Barclays cut their target price on Rexford Industrial Realty from $44.00 to $41.00 and set an “underweight” rating on the stock in a research report on Monday, January 13th. JPMorgan Chase & Co. dropped their price target on Rexford Industrial Realty from $45.00 to $44.00 and set a “neutral” rating on the stock in a research note on Thursday, February 13th. Finally, Robert W. Baird reduced their price objective on shares of 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. 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. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $48.50.

Rexford Industrial Realty Stock Performance

Shares of REXR stock opened at $40.17 on Tuesday. Rexford Industrial Realty, Inc. has a fifty-two week low of $36.92 and a fifty-two week high of $52.61. The stock’s 50-day moving average is $40.31 and its two-hundred day moving average is $42.65. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.30 and a quick ratio of 1.30. The firm has a market cap of $9.16 billion, a P/E ratio of 33.20, a PEG ratio of 2.62 and a beta of 0.98.

Rexford Industrial Realty (NYSE:REXR) last issued 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%. Analysts predict that Rexford Industrial Realty, Inc. will post 2.38 earnings per share for the current fiscal 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 given a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a yield of 4.28%. This is an increase from Rexford Industrial Realty’s previous quarterly dividend of $0.42. The ex-dividend date of this dividend is Monday, March 31st. Rexford Industrial Realty’s dividend payout ratio is presently 142.15%.

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.