Rexford Industrial Realty, Inc. (NYSE:REXR) Position Cut by HighTower Advisors LLC

HighTower Advisors LLC reduced its holdings in Rexford Industrial Realty, Inc. (NYSE:REXR) by 74.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 14,458 shares of the real estate investment trust’s stock after selling 42,973 shares during the quarter. HighTower Advisors LLC’s holdings in Rexford Industrial Realty were worth $559,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in REXR. Advisors Asset Management Inc. raised its position in shares of Rexford Industrial Realty by 49.5% during the 3rd quarter. Advisors Asset Management Inc. now owns 2,913 shares of the real estate investment trust’s stock worth $147,000 after buying an additional 965 shares in the last quarter. Cerity Partners LLC increased its stake in shares of Rexford Industrial Realty by 5.6% during the third quarter. Cerity Partners LLC now owns 39,332 shares of the real estate investment trust’s stock valued at $1,979,000 after acquiring an additional 2,075 shares during the period. Bank of Montreal Can raised its holdings in Rexford Industrial Realty by 5.2% during the third quarter. Bank of Montreal Can now owns 72,416 shares of the real estate investment trust’s stock worth $3,658,000 after purchasing an additional 3,604 shares in the last quarter. FMR LLC lifted its position in Rexford Industrial Realty by 243.8% in the third quarter. FMR LLC now owns 275,669 shares of the real estate investment trust’s stock worth $13,869,000 after purchasing an additional 195,496 shares during the period. Finally, BNP Paribas Financial Markets boosted its stake in Rexford Industrial Realty by 5.5% during the 3rd quarter. BNP Paribas Financial Markets now owns 175,658 shares of the real estate investment trust’s stock valued at $8,837,000 after purchasing an additional 9,093 shares in the last quarter. Institutional investors own 99.52% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently commented on REXR. Barclays dropped their price objective on 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. Deutsche Bank Aktiengesellschaft started coverage on shares of Rexford Industrial Realty in a research report on Tuesday, January 14th. They issued a “hold” rating and a $40.00 price target on the stock. Scotiabank reduced 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 research report on Friday, February 28th. Robert W. Baird dropped their target price on shares of Rexford Industrial Realty from $48.00 to $47.00 and set a “neutral” rating on the stock in a report on Tuesday, March 4th. Finally, Mizuho reduced their target price on shares of Rexford Industrial Realty from $46.00 to $45.00 and set a “neutral” rating for the company in a report on Wednesday, January 8th. Two investment 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. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $46.83.

Rexford Industrial Realty Stock Down 1.4 %

REXR stock opened at $39.37 on Friday. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.30 and a quick ratio of 1.30. The firm has a market capitalization of $8.97 billion, a P/E ratio of 32.53, a P/E/G ratio of 2.62 and a beta of 0.98. Rexford Industrial Realty, Inc. has a 52-week low of $36.92 and a 52-week high of $52.61. The company’s 50 day simple moving average is $40.35 and its 200-day simple moving average is $42.42.

Rexford Industrial Realty (NYSE:REXR) last announced its earnings results on Wednesday, February 5th. The real estate investment trust reported $0.58 earnings per share (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%. As a group, equities research analysts anticipate that Rexford Industrial Realty, Inc. will post 2.38 EPS for the current year.

Rexford Industrial Realty Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be given a dividend of $0.43 per share. The ex-dividend date of this dividend is Monday, March 31st. This is a positive change from Rexford Industrial Realty’s previous quarterly dividend of $0.42. This represents a $1.72 dividend on an annualized basis and a yield of 4.37%. Rexford Industrial Realty’s dividend payout ratio (DPR) is presently 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.