Pilgrim Partners Asia Pte Ltd Makes New Investment in Rexford Industrial Realty, Inc. (NYSE:REXR)

Pilgrim Partners Asia Pte Ltd bought a new position in shares of Rexford Industrial Realty, Inc. (NYSE:REXR) during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 1,680 shares of the real estate investment trust’s stock, valued at approximately $65,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Resona Asset Management Co. Ltd. bought a new position in Rexford Industrial Realty during the 4th quarter worth $3,419,000. Landscape Capital Management L.L.C. increased its position in shares of Rexford Industrial Realty by 16.2% in the fourth quarter. Landscape Capital Management L.L.C. now owns 5,382 shares of the real estate investment trust’s stock worth $208,000 after purchasing an additional 750 shares during the period. Centersquare Investment Management LLC raised its stake in Rexford Industrial Realty by 32.3% in the fourth quarter. Centersquare Investment Management LLC now owns 4,492,166 shares of the real estate investment trust’s stock valued at $173,667,000 after purchasing an additional 1,097,349 shares in the last quarter. Cynosure Group LLC lifted its position in Rexford Industrial Realty by 12.6% during the fourth quarter. Cynosure Group LLC now owns 7,925 shares of the real estate investment trust’s stock worth $306,000 after purchasing an additional 889 shares during the period. Finally, Massachusetts Financial Services Co. MA grew its stake in Rexford Industrial Realty by 0.8% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 3,367,298 shares of the real estate investment trust’s stock worth $130,180,000 after buying an additional 28,079 shares in the last quarter. 99.52% of the stock is currently owned by institutional investors and hedge funds.

Rexford Industrial Realty Stock Down 3.3 %

Shares of NYSE REXR opened at $34.69 on Friday. Rexford Industrial Realty, Inc. has a 1 year low of $33.80 and a 1 year high of $52.61. 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 cap of $7.91 billion, a PE ratio of 28.67, a price-to-earnings-growth ratio of 2.62 and a beta of 0.99. The company has a 50 day simple moving average of $40.11 and a 200 day simple moving average of $42.03.

Rexford Industrial Realty (NYSE:REXR) last issued its quarterly earnings results on Wednesday, February 5th. The real estate investment trust reported $0.58 EPS for the quarter, topping 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%. On average, research analysts forecast that Rexford Industrial Realty, Inc. will post 2.38 EPS for the current year.

Rexford Industrial Realty Increases Dividend

The business also recently declared 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 is a boost from Rexford Industrial Realty’s previous quarterly dividend of $0.42. The ex-dividend date of this dividend is Monday, March 31st. This represents a $1.72 annualized dividend and a dividend yield of 4.96%. Rexford Industrial Realty’s dividend payout ratio is presently 142.15%.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on REXR. Robert W. Baird dropped their target price on shares of 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. Mizuho cut their target price on Rexford Industrial Realty from $46.00 to $45.00 and set a “neutral” rating for the company in a research note on Wednesday, January 8th. Industrial Alliance Securities set a $38.00 price target on Rexford Industrial Realty in a research note on Tuesday, March 25th. Deutsche Bank Aktiengesellschaft began coverage on Rexford Industrial Realty in a research report on Tuesday, January 14th. They set a “hold” rating and a $40.00 price objective for the company. Finally, JPMorgan Chase & Co. decreased their target price 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. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $46.83.

Rexford Industrial Realty 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.