Rexford Industrial Realty, Inc. (NYSE:REXR) Position Boosted by PGGM Investments

PGGM Investments boosted its holdings in Rexford Industrial Realty, Inc. (NYSE:REXR) by 11.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,302,781 shares of the real estate investment trust’s stock after acquiring an additional 344,972 shares during the quarter. Rexford Industrial Realty accounts for 1.7% of PGGM Investments’ portfolio, making the stock its 17th largest position. PGGM Investments’ holdings in Rexford Industrial Realty were worth $127,686,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the business. UMB Bank n.a. increased 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 purchasing an additional 280 shares during the period. Archer Investment Corp grew its position in Rexford Industrial Realty by 61.5% in the 3rd quarter. Archer Investment Corp now owns 2,100 shares of the real estate investment trust’s stock valued at $106,000 after buying an additional 800 shares in the last quarter. Quarry LP increased its stake in 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 valued at $133,000 after buying an additional 1,869 shares during the period. SRS Capital Advisors Inc. raised its position 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 buying an additional 2,709 shares in the last quarter. Finally, Advisors Asset Management Inc. lifted its stake in shares of 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 worth $147,000 after acquiring an additional 965 shares during the period. Institutional investors own 99.52% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently commented on the stock. Mizuho lowered their price objective on shares of 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. Deutsche Bank Aktiengesellschaft initiated coverage on Rexford Industrial Realty in a research note on Tuesday, January 14th. They issued a “hold” rating and a $40.00 price objective on the stock. Scotiabank decreased their target price on Rexford Industrial Realty from $48.00 to $47.00 and set a “sector perform” rating for the company in a research note on Friday, February 28th. Barclays reduced their target price on shares of Rexford Industrial Realty from $44.00 to $41.00 and set an “underweight” rating for the company in a report on Monday, January 13th. Finally, JPMorgan Chase & Co. reduced their price objective on Rexford Industrial Realty from $45.00 to $44.00 and set a “neutral” rating for the company in a research note on Thursday, February 13th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $48.50.

Rexford Industrial Realty Price Performance

REXR opened at $39.07 on Thursday. The firm has a market capitalization of $8.91 billion, a P/E ratio of 32.29, a PEG ratio of 2.62 and a beta of 0.98. The stock has a fifty day moving average of $40.03 and a 200-day moving average of $43.32. The company has a quick ratio of 1.30, a current 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 $53.45.

Rexford Industrial Realty (NYSE:REXR) last posted its quarterly earnings results on Wednesday, February 5th. The real estate investment trust reported $0.58 earnings per share for the quarter, beating 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%. Equities analysts forecast 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. The ex-dividend date is Monday, March 31st. This is an increase from Rexford Industrial Realty’s previous quarterly dividend of $0.42. This represents a $1.72 dividend on an annualized basis and a yield of 4.40%. Rexford Industrial Realty’s payout ratio is presently 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.