Whittier Trust Co. Sells 4,021 Shares of Rexford Industrial Realty, Inc. (NYSE:REXR)

Whittier Trust Co. lessened its position in Rexford Industrial Realty, Inc. (NYSE:REXR) by 20.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 16,092 shares of the real estate investment trust’s stock after selling 4,021 shares during the period. Whittier Trust Co.’s holdings in Rexford Industrial Realty were worth $622,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of REXR. UMB Bank n.a. increased its position in 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 buying an additional 280 shares during the last quarter. Quarry LP boosted its stake in shares of Rexford Industrial Realty by 239.6% during the 3rd quarter. Quarry LP now owns 2,649 shares of the real estate investment trust’s stock worth $133,000 after acquiring an additional 1,869 shares during the period. SRS Capital Advisors Inc. increased its holdings in shares of Rexford Industrial Realty by 4,104.5% during the 4th quarter. SRS Capital Advisors Inc. now owns 2,775 shares of the real estate investment trust’s stock worth $107,000 after acquiring an additional 2,709 shares during the last quarter. Advisors Asset Management Inc. raised its stake in Rexford Industrial Realty by 49.5% in the 3rd quarter. Advisors Asset Management Inc. now owns 2,913 shares of the real estate investment trust’s stock valued at $147,000 after acquiring an additional 965 shares during the period. Finally, Exchange Traded Concepts LLC lifted its holdings in Rexford Industrial Realty by 13.2% during 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 during the last quarter. 99.52% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

REXR has been the topic of several research analyst reports. Deutsche Bank Aktiengesellschaft initiated 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 objective on the stock. JPMorgan Chase & Co. cut their price objective on shares of Rexford Industrial Realty from $45.00 to $44.00 and set a “neutral” rating for the company in a research report on Thursday, February 13th. Scotiabank reduced their price objective 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. Mizuho lowered their target price on Rexford Industrial Realty from $46.00 to $45.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 8th. Finally, Barclays reduced their price target on Rexford Industrial Realty from $44.00 to $41.00 and set an “underweight” rating for the company in a research note on Monday, January 13th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $48.50.

Rexford Industrial Realty Stock Performance

REXR opened at $39.00 on Friday. The firm has a market cap of $8.89 billion, a P/E ratio of 32.23, a price-to-earnings-growth ratio of 2.62 and a beta of 0.98. The business’s fifty day moving average is $40.27 and its 200-day moving average is $42.78. Rexford Industrial Realty, Inc. has a 52-week low of $36.92 and a 52-week high of $52.61. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.30 and a current ratio of 1.30.

Rexford Industrial Realty (NYSE:REXR) last announced its quarterly earnings data on Wednesday, February 5th. The real estate investment trust reported $0.58 earnings per share (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%. Sell-side analysts expect that Rexford Industrial Realty, Inc. will post 2.38 EPS for the current fiscal year.

Rexford Industrial Realty Increases Dividend

The company 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. This is an increase from Rexford Industrial Realty’s previous quarterly dividend of $0.42. This represents a $1.72 annualized dividend and a yield of 4.41%. The ex-dividend date is Monday, March 31st. Rexford Industrial Realty’s payout ratio is currently 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.