KLP Kapitalforvaltning AS Takes Position in Rexford Industrial Realty, Inc. (NYSE:REXR)

KLP Kapitalforvaltning AS bought a new position in Rexford Industrial Realty, Inc. (NYSE:REXR) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 44,000 shares of the real estate investment trust’s stock, valued at approximately $1,717,000.

Other institutional investors have also added to or reduced their stakes in the company. Sei Investments Co. boosted its holdings in shares of Rexford Industrial Realty by 15.3% in the 4th quarter. Sei Investments Co. now owns 682,655 shares of the real estate investment trust’s stock worth $26,391,000 after purchasing an additional 90,476 shares in the last quarter. American Century Companies Inc. lifted its position in Rexford Industrial Realty by 3.4% in the 4th quarter. American Century Companies Inc. now owns 74,987 shares of the real estate investment trust’s stock worth $2,899,000 after buying an additional 2,452 shares during the last quarter. Quantbot Technologies LP purchased a new stake in Rexford Industrial Realty in the fourth quarter worth approximately $33,000. Whittier Trust Co. of Nevada Inc. grew its position in Rexford Industrial Realty by 515.7% during the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 1,490 shares of the real estate investment trust’s stock valued at $58,000 after acquiring an additional 1,248 shares during the last quarter. Finally, HUB Investment Partners LLC bought a new stake in shares of Rexford Industrial Realty in the 4th quarter worth approximately $226,000. Institutional investors own 99.52% of the company’s stock.

Wall Street Analysts Forecast Growth

REXR has been the topic of several recent research reports. JPMorgan Chase & Co. reduced their target price on shares of Rexford Industrial Realty from $45.00 to $44.00 and set a “neutral” rating on the stock in a report on Thursday, February 13th. 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 price objective on the stock. Scotiabank dropped their target price on 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. Barclays decreased their price target on Rexford Industrial Realty from $41.00 to $38.00 and set an “underweight” rating on the stock in a research note on Tuesday. Finally, Robert W. Baird dropped their price objective on 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 equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $46.83.

Rexford Industrial Realty Stock Down 1.4 %

Shares of Rexford Industrial Realty stock opened at $39.37 on Friday. 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, Inc. has a 12-month low of $36.92 and a 12-month high of $52.61. The company has a market cap of $8.97 billion, a P/E ratio of 32.53, a PEG ratio of 2.62 and a beta of 0.98. The company’s fifty day simple moving average is $40.35 and its two-hundred day simple moving average is $42.48.

Rexford Industrial Realty (NYSE:REXR) last announced its quarterly 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%. Research analysts anticipate 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. Stockholders of record on Monday, March 31st will be paid a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a dividend yield of 4.37%. The ex-dividend date is Monday, March 31st. This is a boost from Rexford Industrial Realty’s previous quarterly dividend of $0.42. Rexford Industrial Realty’s dividend payout ratio (DPR) is presently 142.15%.

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.