Westpac Banking Corp Sells 8,825 Shares of Rexford Industrial Realty, Inc. (NYSE:REXR)

Westpac Banking Corp cut its holdings in Rexford Industrial Realty, Inc. (NYSE:REXR) by 11.8% during the 4th quarter, Holdings Channel reports. The fund owned 65,814 shares of the real estate investment trust’s stock after selling 8,825 shares during the period. Westpac Banking Corp’s holdings in Rexford Industrial Realty were worth $2,544,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Paradigm Asset Management Co. LLC bought a new position in Rexford Industrial Realty in the 4th quarter worth $1,082,000. Charles Schwab Investment Management Inc. raised its stake in shares of Rexford Industrial Realty by 3.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,782,904 shares of the real estate investment trust’s stock worth $107,587,000 after buying an additional 93,360 shares during the period. Impax Asset Management Group plc lifted its position in shares of Rexford Industrial Realty by 63.6% during the 4th quarter. Impax Asset Management Group plc now owns 21,691 shares of the real estate investment trust’s stock valued at $839,000 after buying an additional 8,431 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in Rexford Industrial Realty by 26.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 4,503,571 shares of the real estate investment trust’s stock worth $226,575,000 after acquiring an additional 954,202 shares in the last quarter. Finally, Rothschild Investment LLC lifted its holdings in Rexford Industrial Realty by 760,280.0% during the fourth quarter. Rothschild Investment LLC now owns 38,019 shares of the real estate investment trust’s stock valued at $1,470,000 after purchasing an additional 38,014 shares in the last quarter. Hedge funds and other institutional investors own 99.52% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently commented on REXR shares. Industrial Alliance Securities set a $38.00 price objective on shares of Rexford Industrial Realty in a research report on Tuesday, March 25th. JPMorgan Chase & Co. lowered their price objective 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 target price on Rexford Industrial Realty from $48.00 to $47.00 and set a “neutral” rating for the company in a research report on Tuesday, March 4th. Barclays lowered their price target on Rexford Industrial Realty from $41.00 to $38.00 and set an “underweight” rating on the stock in a report on Tuesday, March 25th. Finally, Scotiabank cut their price objective on shares of Rexford Industrial Realty from $48.00 to $47.00 and set a “sector perform” rating for the company in a report on Friday, February 28th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $46.83.

Rexford Industrial Realty Price Performance

REXR stock opened at $35.88 on Friday. Rexford Industrial Realty, Inc. has a 52 week low of $35.66 and a 52 week high of $52.61. The firm has a market capitalization of $8.18 billion, a P/E ratio of 29.65, a price-to-earnings-growth ratio of 2.62 and a beta of 0.99. The company has a fifty day simple moving average of $40.24 and a two-hundred day simple moving average of $42.15. 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 (NYSE:REXR) last announced its quarterly earnings results on Wednesday, February 5th. The real estate investment trust reported $0.58 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%. 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 business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders 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 annualized dividend and a dividend yield of 4.79%. This is an increase from Rexford Industrial Realty’s previous quarterly dividend of $0.42. Rexford Industrial Realty’s payout ratio is currently 142.15%.

Rexford Industrial Realty Company 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.