Rexford Industrial Realty, Inc. (NYSE:REXR) Shares Sold by Victory Capital Management Inc.

Victory Capital Management Inc. cut its stake in Rexford Industrial Realty, Inc. (NYSE:REXR) by 0.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 42,710 shares of the real estate investment trust’s stock after selling 359 shares during the period. Victory Capital Management Inc.’s holdings in Rexford Industrial Realty were worth $1,651,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in REXR. Charles Schwab Investment Management Inc. increased its stake in Rexford Industrial Realty by 3.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,782,904 shares of the real estate investment trust’s stock valued at $107,587,000 after purchasing an additional 93,360 shares during the last quarter. State of Michigan Retirement System increased its stake in Rexford Industrial Realty by 1.2% during the fourth quarter. State of Michigan Retirement System now owns 52,582 shares of the real estate investment trust’s stock valued at $2,033,000 after purchasing an additional 600 shares during the last quarter. SRS Capital Advisors Inc. increased its stake in 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 valued at $107,000 after purchasing an additional 2,709 shares during the last quarter. Metis Global Partners LLC increased its stake in Rexford Industrial Realty by 11.4% during the fourth quarter. Metis Global Partners LLC now owns 25,113 shares of the real estate investment trust’s stock valued at $971,000 after purchasing an additional 2,566 shares during the last quarter. Finally, Proficio Capital Partners LLC bought a new stake in Rexford Industrial Realty during the fourth quarter valued at $417,000. 99.52% of the stock is owned by institutional investors and hedge funds.

Rexford Industrial Realty Stock Performance

Shares of REXR opened at $40.70 on Wednesday. The firm has a 50-day moving average price of $40.14 and a 200 day moving average price of $42.95. 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. The company has a quick ratio of 1.30, a current ratio of 1.30 and a debt-to-equity ratio of 0.39. Rexford Industrial Realty, Inc. has a 52-week low of $36.92 and a 52-week high of $52.61.

Rexford Industrial Realty (NYSE:REXR) last announced its earnings results on Wednesday, February 5th. The real estate investment trust reported $0.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.27 by $0.31. Rexford Industrial Realty had a net margin of 29.10% and a return on equity of 3.26%. On average, sell-side analysts anticipate 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 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. This represents a $1.72 dividend on an annualized basis and a yield of 4.23%. 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%.

Analyst Upgrades and Downgrades

REXR has been the subject of several recent research reports. 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 lowered their price target 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. Mizuho lowered their price target 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. Barclays lowered their price target on shares of Rexford Industrial Realty from $44.00 to $41.00 and set an “underweight” rating for the company in a research report on Monday, January 13th. Finally, JPMorgan Chase & Co. lowered their price target on shares of Rexford Industrial Realty from $45.00 to $44.00 and set a “neutral” rating for the company in a research report on Thursday, February 13th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target 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.