Quarry LP Boosts Stock Position in Rexford Industrial Realty, Inc. (NYSE:REXR)

Quarry LP increased its holdings in shares of Rexford Industrial Realty, Inc. (NYSE:REXR) by 18.3% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 3,135 shares of the real estate investment trust’s stock after acquiring an additional 486 shares during the period. Quarry LP’s holdings in Rexford Industrial Realty were worth $121,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in REXR. UMB Bank n.a. raised its holdings in shares of Rexford Industrial Realty by 38.9% during the fourth quarter. UMB Bank n.a. now owns 999 shares of the real estate investment trust’s stock valued at $39,000 after acquiring an additional 280 shares during the last quarter. CIBC Asset Management Inc raised its stake in Rexford Industrial Realty by 5.7% in the 4th quarter. CIBC Asset Management Inc now owns 6,572 shares of the real estate investment trust’s stock valued at $254,000 after purchasing an additional 355 shares during the last quarter. Exchange Traded Concepts LLC lifted its holdings in Rexford Industrial Realty by 13.2% in the 4th 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 in the last quarter. Isthmus Partners LLC boosted its stake in Rexford Industrial Realty by 7.3% during the 4th 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 during the last quarter. Finally, State of Michigan Retirement System grew its holdings in shares of Rexford Industrial Realty by 1.2% during the fourth quarter. State of Michigan Retirement System now owns 52,582 shares of the real estate investment trust’s stock worth $2,033,000 after buying an additional 600 shares in the last quarter. Institutional investors and hedge funds own 99.52% of the company’s stock.

Rexford Industrial Realty Price Performance

REXR opened at $33.37 on Wednesday. The stock’s 50-day moving average price is $37.13 and its 200 day moving average price is $39.80. Rexford Industrial Realty, Inc. has a 12-month low of $29.68 and a 12-month high of $52.61. The firm has a market cap of $7.90 billion, a price-to-earnings ratio of 27.58, a PEG ratio of 2.62 and a beta of 0.99. The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 0.39.

Rexford Industrial Realty (NYSE:REXR) last announced its quarterly earnings data on Wednesday, April 16th. The real estate investment trust reported $0.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.05. Rexford Industrial Realty had a return on equity of 3.26% and a net margin of 29.10%. The business had revenue of $248.82 million for the quarter, compared to analysts’ expectations of $246.74 million. As a group, sell-side analysts expect that Rexford Industrial Realty, Inc. will post 2.38 earnings per share for the current year.

Rexford Industrial Realty Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Monday, June 30th will be paid a dividend of $0.43 per share. The ex-dividend date is Monday, June 30th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 5.15%. Rexford Industrial Realty’s payout ratio is 138.71%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Robert W. Baird decreased their price target on shares of 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. JPMorgan Chase & Co. lowered their target price on Rexford Industrial Realty from $44.00 to $37.00 and set a “neutral” rating on the stock in a report on Thursday, April 24th. Barclays dropped their price target on Rexford Industrial Realty from $41.00 to $38.00 and set an “underweight” rating for the company in a research report on Tuesday, March 25th. Scotiabank reduced their price objective on Rexford Industrial Realty from $47.00 to $39.00 and set a “sector perform” rating on the stock in a research report on Monday, April 7th. Finally, Deutsche Bank Aktiengesellschaft started coverage on Rexford Industrial Realty in a report on Tuesday, January 14th. They issued a “hold” rating and a $40.00 target price for the company. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $44.00.

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.