Securian Asset Management Inc. Sells 253 Shares of Rexford Industrial Realty, Inc. (NYSE:REXR)

Securian Asset Management Inc. lessened its position in Rexford Industrial Realty, Inc. (NYSE:REXR) by 1.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 16,781 shares of the real estate investment trust’s stock after selling 253 shares during the period. Securian Asset Management Inc.’s holdings in Rexford Industrial Realty were worth $649,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. EverSource Wealth Advisors LLC grew its position in shares of Rexford Industrial Realty by 441.2% in the 4th quarter. EverSource Wealth Advisors LLC now owns 5,017 shares of the real estate investment trust’s stock valued at $194,000 after acquiring an additional 4,090 shares during the period. Isthmus Partners LLC grew its position in shares of Rexford Industrial Realty by 7.3% in the 4th quarter. Isthmus Partners LLC now owns 6,887 shares of the real estate investment trust’s stock valued at $266,000 after acquiring an additional 469 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Rexford Industrial Realty by 50.3% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 139,566 shares of the real estate investment trust’s stock valued at $5,396,000 after acquiring an additional 46,703 shares during the period. OFI Invest Asset Management bought a new position in shares of Rexford Industrial Realty in the 4th quarter valued at about $13,959,000. Finally, Amundi grew its position in shares of Rexford Industrial Realty by 0.8% in the 4th quarter. Amundi now owns 119,708 shares of the real estate investment trust’s stock valued at $4,579,000 after acquiring an additional 956 shares during the period. Institutional investors own 99.52% of the company’s stock.

Rexford Industrial Realty Price Performance

Shares of Rexford Industrial Realty stock opened at $39.98 on Monday. Rexford Industrial Realty, Inc. has a twelve month low of $36.92 and a twelve month high of $52.61. The company has a quick ratio of 1.30, a current ratio of 1.30 and a debt-to-equity ratio of 0.39. The company has a 50-day simple moving average of $40.06 and a two-hundred day simple moving average of $43.09. The stock has a market capitalization of $9.11 billion, a price-to-earnings ratio of 33.04, a price-to-earnings-growth ratio of 2.62 and a beta of 0.98.

Rexford Industrial Realty (NYSE:REXR) last released its earnings results on Wednesday, February 5th. The real estate investment trust reported $0.58 EPS 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 forecast that Rexford Industrial Realty, Inc. will post 2.38 EPS for the current year.

Rexford Industrial Realty Increases Dividend

The company 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 $0.43 dividend. This is a positive change from Rexford Industrial Realty’s previous quarterly dividend of $0.42. This represents a $1.72 annualized dividend and a yield of 4.30%. The ex-dividend date of this dividend is Monday, March 31st. Rexford Industrial Realty’s dividend payout ratio (DPR) is currently 142.15%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on REXR shares. Mizuho decreased their price objective 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. Scotiabank cut their target price on shares of 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 shares of Rexford Industrial Realty from $44.00 to $41.00 and set an “underweight” rating for the company in a research note on Monday, January 13th. 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. Finally, Robert W. Baird cut their target price 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 analysts have rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price 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.