Rexford Industrial Realty, Inc. (NYSE:REXR) Shares Sold by Ilmarinen Mutual Pension Insurance Co

Ilmarinen Mutual Pension Insurance Co lowered its holdings in shares of Rexford Industrial Realty, Inc. (NYSE:REXR) by 51.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 34,000 shares of the real estate investment trust’s stock after selling 36,000 shares during the period. Ilmarinen Mutual Pension Insurance Co’s holdings in Rexford Industrial Realty were worth $1,314,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. UMB Bank n.a. raised its stake 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 worth $39,000 after purchasing an additional 280 shares during the last quarter. IHT Wealth Management LLC raised its position in Rexford Industrial Realty by 4.8% during the 3rd quarter. IHT Wealth Management LLC now owns 6,451 shares of the real estate investment trust’s stock worth $325,000 after buying an additional 296 shares during the last quarter. CIBC Asset Management Inc raised its position in Rexford Industrial Realty by 5.7% during the 4th quarter. CIBC Asset Management Inc now owns 6,572 shares of the real estate investment trust’s stock worth $254,000 after buying an additional 355 shares during the last quarter. Exchange Traded Concepts LLC lifted its stake in shares of 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 worth $123,000 after acquiring an additional 371 shares during the period. Finally, M&T Bank Corp increased its stake in shares of Rexford Industrial Realty by 1.5% during the third quarter. M&T Bank Corp now owns 29,225 shares of the real estate investment trust’s stock worth $1,470,000 after acquiring an additional 442 shares during the period. 99.52% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently commented on REXR. Robert W. Baird reduced their price objective 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. JPMorgan Chase & Co. reduced their price target on Rexford Industrial Realty from $45.00 to $44.00 and set a “neutral” rating for the company in a report on Thursday, February 13th. Industrial Alliance Securities set a $38.00 price objective on Rexford Industrial Realty in a report on Tuesday, March 25th. Mizuho reduced their target price on Rexford Industrial Realty from $46.00 to $45.00 and set a “neutral” rating for the company in a report on Wednesday, January 8th. Finally, Scotiabank decreased their target price on shares of Rexford Industrial Realty from $48.00 to $47.00 and set a “sector perform” rating on the stock in a research report on Friday, February 28th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $46.83.

Rexford Industrial Realty Stock Performance

Shares of REXR opened at $34.69 on Friday. Rexford Industrial Realty, Inc. has a 12-month low of $33.80 and a 12-month high of $52.61. The stock has a market cap of $7.91 billion, a P/E ratio of 28.67, 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. The company has a 50-day moving average of $40.11 and a two-hundred day moving average of $41.97.

Rexford Industrial Realty (NYSE:REXR) last issued its quarterly earnings data on Wednesday, February 5th. The real estate investment trust reported $0.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.27 by $0.31. Rexford Industrial Realty had a return on equity of 3.26% and a net margin of 29.10%. As a group, research analysts predict that Rexford Industrial Realty, Inc. will post 2.38 EPS for the current fiscal year.

Rexford Industrial Realty Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be given a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a yield of 4.96%. 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 currently 142.15%.

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.