Alliancebernstein L.P. Trims Stake in Rexford Industrial Realty, Inc. (NYSE:REXR)

Alliancebernstein L.P. cut its stake in shares of Rexford Industrial Realty, Inc. (NYSE:REXR) by 5.3% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,627,906 shares of the real estate investment trust’s stock after selling 90,579 shares during the period. Alliancebernstein L.P. owned about 0.73% of Rexford Industrial Realty worth $62,935,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Norges Bank purchased a new stake in Rexford Industrial Realty in the 4th quarter worth approximately $104,685,000. JPMorgan Chase & Co. boosted its position in shares of Rexford Industrial Realty by 26.9% in the third quarter. JPMorgan Chase & Co. now owns 4,503,571 shares of the real estate investment trust’s stock worth $226,575,000 after purchasing an additional 954,202 shares during the period. Duff & Phelps Investment Management Co. increased its stake in shares of Rexford Industrial Realty by 40.4% in the fourth quarter. Duff & Phelps Investment Management Co. now owns 2,910,765 shares of the real estate investment trust’s stock worth $112,530,000 after purchasing an additional 837,630 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Rexford Industrial Realty by 1.9% during the 4th 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. Finally, OFI Invest Asset Management purchased a new position in shares of Rexford Industrial Realty during the 4th quarter valued at $13,959,000. Institutional investors own 99.52% of the company’s stock.

Analyst Ratings Changes

REXR has been the topic of a number of recent analyst reports. Robert W. Baird decreased their price target on Rexford Industrial Realty from $48.00 to $47.00 and set a “neutral” rating on the stock in a report on Tuesday, March 4th. Industrial Alliance Securities set a $38.00 target price on Rexford Industrial Realty in a research note on Tuesday, March 25th. Scotiabank lowered their price target on Rexford Industrial Realty from $48.00 to $47.00 and set a “sector perform” rating on the stock in a report on Friday, February 28th. Mizuho cut their price objective on shares of 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, Deutsche Bank Aktiengesellschaft started coverage on shares of Rexford Industrial Realty in a research report on Tuesday, January 14th. They set a “hold” rating and a $40.00 price objective on the stock. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $46.83.

Rexford Industrial Realty Price Performance

REXR stock opened at $34.69 on Friday. Rexford Industrial Realty, Inc. has a 52 week low of $33.80 and a 52 week high of $52.61. The firm has a market capitalization of $7.91 billion, a P/E ratio of 28.67, a price-to-earnings-growth ratio of 2.62 and a beta of 0.99. The company has a fifty day simple moving average of $40.11 and a two-hundred day simple moving average of $42.03. 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 (NYSE:REXR) last announced its quarterly earnings results on Wednesday, February 5th. The real estate investment trust reported $0.58 EPS for the quarter, beating 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%. Analysts anticipate that Rexford Industrial Realty, Inc. will post 2.38 earnings per share for the current fiscal year.

Rexford Industrial Realty Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders 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 4.96%. This is an increase from Rexford Industrial Realty’s previous quarterly dividend of $0.42. Rexford Industrial Realty’s payout ratio 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.