JPMorgan Chase & Co. Sells 1,242,879 Shares of Rexford Industrial Realty, Inc. (NYSE:REXR)

JPMorgan Chase & Co. trimmed its stake in Rexford Industrial Realty, Inc. (NYSE:REXR) by 27.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,260,692 shares of the real estate investment trust’s stock after selling 1,242,879 shares during the quarter. JPMorgan Chase & Co. owned approximately 1.47% of Rexford Industrial Realty worth $126,058,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. grew its holdings in Rexford Industrial Realty by 1.9% during the fourth quarter. Vanguard Group Inc. now owns 29,931,981 shares of the real estate investment trust’s stock valued at $1,157,170,000 after purchasing an additional 562,710 shares during the period. OFI Invest Asset Management bought a new position in shares of Rexford Industrial Realty during the 4th quarter worth $13,959,000. Diamond Hill Capital Management Inc. bought a new position in shares of Rexford Industrial Realty during the 4th quarter worth $14,416,000. PGGM Investments increased its holdings in Rexford Industrial Realty by 11.7% in the 4th quarter. PGGM Investments now owns 3,302,781 shares of the real estate investment trust’s stock worth $127,686,000 after acquiring an additional 344,972 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in Rexford Industrial Realty during the fourth quarter valued at about $11,830,000. 99.52% of the stock is owned by institutional investors.

Rexford Industrial Realty Stock Down 0.0 %

REXR stock opened at $39.15 on Wednesday. Rexford Industrial Realty, Inc. has a 1-year low of $36.92 and a 1-year high of $52.61. The stock has a market cap of $8.92 billion, a price-to-earnings ratio of 32.35, a price-to-earnings-growth ratio of 2.62 and a beta of 0.98. 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’s 50 day moving average is $40.33 and its 200 day moving average is $42.21.

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%. Sell-side analysts predict that Rexford Industrial Realty, Inc. will post 2.38 EPS for the current fiscal year.

Rexford Industrial Realty Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be paid 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 yield of 4.39%. This is a positive change from Rexford Industrial Realty’s previous quarterly dividend of $0.42. Rexford Industrial Realty’s payout ratio is 142.15%.

Analyst Ratings Changes

REXR has been the topic of several research reports. JPMorgan Chase & Co. lowered their price target on shares of 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. Mizuho lowered their target price on shares of Rexford Industrial Realty from $46.00 to $45.00 and set a “neutral” rating on the stock in a report on Wednesday, January 8th. Scotiabank cut their price target 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. Barclays decreased their price objective on Rexford Industrial Realty from $41.00 to $38.00 and set an “underweight” rating on the stock in a research note on Tuesday, March 25th. Finally, 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 target price for the company. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $46.83.

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.