Diamond Hill Capital Management Inc. Buys New Holdings in Rexford Industrial Realty, Inc. (NYSE:REXR)

Diamond Hill Capital Management Inc. bought a new stake in Rexford Industrial Realty, Inc. (NYSE:REXR) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 372,886 shares of the real estate investment trust’s stock, valued at approximately $14,416,000. Diamond Hill Capital Management Inc. owned approximately 0.17% of Rexford Industrial Realty at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. UMB Bank n.a. increased its position in Rexford Industrial Realty by 38.9% in the 4th quarter. UMB Bank n.a. now owns 999 shares of the real estate investment trust’s stock valued at $39,000 after buying an additional 280 shares in the last quarter. IHT Wealth Management LLC increased its holdings 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 purchasing an additional 296 shares in the last quarter. CIBC Asset Management Inc increased its holdings 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 purchasing an additional 355 shares in the last quarter. Exchange Traded Concepts LLC increased 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 worth $123,000 after purchasing an additional 371 shares in the last quarter. Finally, M&T Bank Corp increased its holdings in Rexford Industrial Realty by 1.5% during the 3rd quarter. M&T Bank Corp now owns 29,225 shares of the real estate investment trust’s stock worth $1,470,000 after purchasing an additional 442 shares in the last quarter. 99.52% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

REXR has been the subject of a number of recent research reports. Scotiabank decreased 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 decreased their price objective 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. JPMorgan Chase & Co. decreased their price objective 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. Robert W. Baird reduced their target price on Rexford Industrial Realty from $48.00 to $47.00 and set a “neutral” rating for the company in a report on Tuesday, March 4th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on Rexford Industrial Realty in a report on Tuesday, January 14th. They issued a “hold” rating and a $40.00 target price for the company. Two equities 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 company’s stock. According to MarketBeat.com, Rexford Industrial Realty has an average rating of “Hold” and an average price target of $48.50.

Rexford Industrial Realty Price Performance

Rexford Industrial Realty stock opened at $39.98 on Friday. Rexford Industrial Realty, Inc. has a 12 month low of $36.92 and a 12 month high of $52.61. 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 business’s 50 day simple moving average is $40.06 and its 200 day simple moving average is $43.21. The company has a market cap of $9.11 billion, a price-to-earnings ratio of 33.04, a PEG ratio of 2.62 and a beta of 0.98.

Rexford Industrial Realty (NYSE:REXR) last posted its quarterly earnings data on Wednesday, February 5th. The real estate investment trust reported $0.58 EPS 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%. Sell-side 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 announced 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. The ex-dividend date of this dividend is Monday, March 31st. This represents a $1.72 annualized dividend and a dividend yield of 4.30%. This is an increase from Rexford Industrial Realty’s previous quarterly dividend of $0.42. Rexford Industrial Realty’s dividend payout ratio is currently 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.