Rexford Industrial Realty, Inc. (NYSE:REXR) Shares Sold by Cohen & Steers Inc.

Cohen & Steers Inc. lessened its position in shares of Rexford Industrial Realty, Inc. (NYSE:REXR) by 95.3% in the fourth quarter, Holdings Channel.com reports. The fund owned 84,605 shares of the real estate investment trust’s stock after selling 1,715,331 shares during the quarter. Cohen & Steers Inc.’s holdings in Rexford Industrial Realty were worth $3,271,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Quantbot Technologies LP purchased a new stake in shares of Rexford Industrial Realty during the 4th quarter worth about $33,000. UMB Bank n.a. lifted its position in Rexford Industrial Realty by 38.9% during 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 in the last quarter. Whittier Trust Co. of Nevada Inc. grew its stake in Rexford Industrial Realty by 515.7% during the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 1,490 shares of the real estate investment trust’s stock worth $58,000 after buying an additional 1,248 shares during the period. Pilgrim Partners Asia Pte Ltd acquired a new stake in shares of Rexford Industrial Realty in the fourth quarter worth $65,000. Finally, SRS Capital Advisors Inc. raised its stake in shares of Rexford Industrial Realty by 4,104.5% in the 4th quarter. SRS Capital Advisors Inc. now owns 2,775 shares of the real estate investment trust’s stock valued at $107,000 after acquiring an additional 2,709 shares during the period. 99.52% of the stock is currently owned by institutional investors and hedge funds.

Rexford Industrial Realty Stock Performance

Shares of REXR stock opened at $32.79 on Tuesday. 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 stock has a market capitalization of $7.47 billion, a price-to-earnings ratio of 27.10, a PEG ratio of 2.62 and a beta of 0.99. Rexford Industrial Realty, Inc. has a one year low of $29.68 and a one year high of $52.61. The company’s 50-day simple moving average is $38.82 and its 200-day simple moving average is $40.92.

Rexford Industrial Realty (NYSE:REXR) last issued its earnings results on Wednesday, February 5th. The real estate investment trust reported $0.58 EPS 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%. Equities 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 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 represents a $1.72 dividend on an annualized basis and a dividend yield of 5.25%. This is a boost from Rexford Industrial Realty’s previous quarterly dividend of $0.42. The ex-dividend date is Monday, March 31st. Rexford Industrial Realty’s dividend payout ratio is 142.15%.

Wall Street Analyst Weigh In

REXR has been the subject of a number of research reports. Mizuho decreased 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. Deutsche Bank Aktiengesellschaft started coverage on Rexford Industrial Realty in a research note on Tuesday, January 14th. They issued a “hold” rating and a $40.00 target price for the company. Robert W. Baird dropped their target price on Rexford Industrial Realty from $48.00 to $47.00 and set a “neutral” rating on the stock in a report on Tuesday, March 4th. Scotiabank decreased their price target on Rexford Industrial Realty from $47.00 to $39.00 and set a “sector perform” rating for the company in a report on Monday, April 7th. Finally, Barclays dropped their price objective on shares of Rexford Industrial Realty from $41.00 to $38.00 and set an “underweight” rating on the stock in a research note on Tuesday, March 25th. Two equities research 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. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $46.17.

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.