Rexford Industrial Realty, Inc. (NYSE:REXR) Shares Sold by Russell Investments Group Ltd.

Russell Investments Group Ltd. lessened its stake in shares of Rexford Industrial Realty, Inc. (NYSE:REXR) by 7.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 211,921 shares of the real estate investment trust’s stock after selling 17,367 shares during the quarter. Russell Investments Group Ltd.’s holdings in Rexford Industrial Realty were worth $8,193,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. UMB Bank n.a. raised its holdings in shares of Rexford Industrial Realty by 38.9% during the 4th 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 during the period. CIBC Asset Management Inc grew its position in Rexford Industrial Realty by 5.7% in the fourth 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 in the last quarter. Exchange Traded Concepts LLC raised its stake in shares of Rexford Industrial Realty by 13.2% during the fourth quarter. Exchange Traded Concepts LLC now owns 3,172 shares of the real estate investment trust’s stock valued at $123,000 after purchasing an additional 371 shares during the period. M&T Bank Corp raised its stake in shares of Rexford Industrial Realty by 1.5% during the third quarter. M&T Bank Corp now owns 29,225 shares of the real estate investment trust’s stock valued at $1,470,000 after purchasing an additional 442 shares during the period. Finally, Isthmus Partners LLC lifted its position in shares of Rexford Industrial Realty by 7.3% during the fourth quarter. Isthmus Partners LLC now owns 6,887 shares of the real estate investment trust’s stock worth $266,000 after purchasing an additional 469 shares in the last quarter. Hedge funds and other institutional investors own 99.52% of the company’s stock.

Rexford Industrial Realty Stock Up 1.6 %

Shares of NYSE:REXR opened at $32.44 on Friday. Rexford Industrial Realty, Inc. has a 1-year low of $29.68 and a 1-year high of $52.61. The company’s fifty day moving average is $38.98 and its two-hundred day moving average is $41.11. 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 $7.40 billion, a price-to-earnings ratio of 26.81, a price-to-earnings-growth ratio of 2.62 and a beta of 0.99.

Rexford Industrial Realty (NYSE:REXR) last released 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 net margin of 29.10% and a return on equity of 3.26%. Equities analysts anticipate that Rexford Industrial Realty, Inc. will post 2.38 EPS for the current year.

Rexford Industrial Realty Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be given a dividend of $0.43 per share. The ex-dividend date is Monday, March 31st. This represents a $1.72 dividend on an annualized basis and a yield of 5.30%. This is a positive change from Rexford Industrial Realty’s previous quarterly dividend of $0.42. Rexford Industrial Realty’s payout ratio is currently 142.15%.

Wall Street Analyst Weigh In

Several research firms recently issued reports on REXR. Scotiabank dropped their price target on shares of Rexford Industrial Realty from $47.00 to $39.00 and set a “sector perform” rating on the stock in a research note on Monday, April 7th. JPMorgan Chase & Co. dropped their target price on Rexford Industrial Realty from $45.00 to $44.00 and set a “neutral” rating on the stock in a research report on Thursday, February 13th. Robert W. Baird cut their price target on Rexford Industrial Realty from $48.00 to $47.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 4th. Barclays lowered their price objective on Rexford Industrial Realty from $41.00 to $38.00 and set an “underweight” rating for the company in a research note on Tuesday, March 25th. Finally, Industrial Alliance Securities set a $38.00 target price on Rexford Industrial Realty in a research report on Tuesday, March 25th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price 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.