5,895 Shares in Rexford Industrial Realty, Inc. (NYSE:REXR) Bought by Synovus Financial Corp

Synovus Financial Corp bought a new position in Rexford Industrial Realty, Inc. (NYSE:REXRGet Rating) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 5,895 shares of the real estate investment trust’s stock, valued at approximately $340,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Quadrant Capital Group LLC increased its holdings in shares of Rexford Industrial Realty by 197.6% during the 1st quarter. Quadrant Capital Group LLC now owns 750 shares of the real estate investment trust’s stock worth $55,000 after purchasing an additional 498 shares during the period. Archer Investment Corp bought a new position in shares of Rexford Industrial Realty during the 1st quarter worth about $60,000. Assetmark Inc. increased its holdings in shares of Rexford Industrial Realty by 3,367.9% during the 2nd quarter. Assetmark Inc. now owns 971 shares of the real estate investment trust’s stock worth $56,000 after purchasing an additional 943 shares during the period. JJJ Advisors Inc. increased its holdings in shares of Rexford Industrial Realty by 38.9% during the 1st quarter. JJJ Advisors Inc. now owns 1,124 shares of the real estate investment trust’s stock worth $84,000 after purchasing an additional 315 shares during the period. Finally, Wolverine Asset Management LLC bought a new position in shares of Rexford Industrial Realty during the 1st quarter worth about $133,000. Institutional investors own 99.50% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on REXR shares. Stifel Nicolaus started coverage on shares of Rexford Industrial Realty in a report on Wednesday, October 12th. They set a “buy” rating and a $64.00 price objective on the stock. Robert W. Baird decreased their target price on shares of Rexford Industrial Realty from $77.00 to $71.00 in a research report on Monday, October 24th. StockNews.com began coverage on shares of Rexford Industrial Realty in a research report on Wednesday, October 12th. They set a “sell” rating on the stock. Finally, Wells Fargo & Company decreased their target price on shares of Rexford Industrial Realty from $80.00 to $58.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 18th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, Rexford Industrial Realty presently has a consensus rating of “Hold” and a consensus price target of $68.83.

Rexford Industrial Realty Price Performance

Shares of Rexford Industrial Realty stock opened at $55.66 on Monday. The firm has a market cap of $10.21 billion, a P/E ratio of 59.85 and a beta of 0.83. Rexford Industrial Realty, Inc. has a twelve month low of $48.74 and a twelve month high of $84.68. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.44 and a current ratio of 0.44. The firm’s 50-day simple moving average is $54.50 and its 200-day simple moving average is $60.05.

Rexford Industrial Realty Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 17th. Shareholders of record on Friday, December 30th will be given a $0.315 dividend. The ex-dividend date of this dividend is Thursday, December 29th. This represents a $1.26 dividend on an annualized basis and a yield of 2.26%. Rexford Industrial Realty’s dividend payout ratio (DPR) is presently 135.48%.

Rexford Industrial Realty Company Profile

(Get Rating)

Rexford Industrial, a real estate investment trust focused on owning and operating industrial properties throughout Southern California infill markets, owns 232 properties with approximately 27.9 million rentable square feet and manages an additional 20 properties with approximately 1.0 million rentable square feet.

Further Reading

Institutional Ownership by Quarter for Rexford Industrial Realty (NYSE:REXR)

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