Sun Life Financial Inc. Buys 10,870 Shares of Rexford Industrial Realty, Inc. (NYSE:REXR)

Sun Life Financial Inc. grew its stake in Rexford Industrial Realty, Inc. (NYSE:REXR) by 7.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 160,448 shares of the real estate investment trust’s stock after purchasing an additional 10,870 shares during the quarter. Rexford Industrial Realty makes up about 0.3% of Sun Life Financial Inc.’s holdings, making the stock its 27th largest position. Sun Life Financial Inc. owned approximately 0.07% of Rexford Industrial Realty worth $6,203,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently modified their holdings of REXR. Pilgrim Partners Asia Pte Ltd bought a new position in Rexford Industrial Realty during the 4th quarter valued at $65,000. Resona Asset Management Co. Ltd. purchased a new stake in shares of Rexford Industrial Realty in the fourth quarter valued at about $3,419,000. Landscape Capital Management L.L.C. raised its holdings in shares of Rexford Industrial Realty by 16.2% in the fourth quarter. Landscape Capital Management L.L.C. now owns 5,382 shares of the real estate investment trust’s stock valued at $208,000 after purchasing an additional 750 shares during the last quarter. Centersquare Investment Management LLC lifted its position in shares of Rexford Industrial Realty by 32.3% during the fourth quarter. Centersquare Investment Management LLC now owns 4,492,166 shares of the real estate investment trust’s stock valued at $173,667,000 after purchasing an additional 1,097,349 shares in the last quarter. Finally, Cynosure Group LLC boosted its holdings in Rexford Industrial Realty by 12.6% during the fourth quarter. Cynosure Group LLC now owns 7,925 shares of the real estate investment trust’s stock worth $306,000 after purchasing an additional 889 shares during the last quarter. Institutional investors own 99.52% of the company’s stock.

Rexford Industrial Realty Stock Performance

Shares of REXR stock opened at $34.69 on Friday. The firm’s 50 day moving average is $40.11 and its 200 day moving average is $42.03. The stock has a market capitalization of $7.91 billion, a P/E ratio of 28.67, a PEG ratio of 2.62 and a beta of 0.99. Rexford Industrial Realty, Inc. has a 12 month low of $33.80 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.

Rexford Industrial Realty (NYSE:REXR) last issued its earnings results on Wednesday, February 5th. The real estate investment trust reported $0.58 earnings per share (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%. On average, sell-side analysts anticipate that Rexford Industrial Realty, Inc. will post 2.38 earnings per share for the current year.

Rexford Industrial Realty Increases Dividend

The business also recently declared 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 is a boost from Rexford Industrial Realty’s previous quarterly dividend of $0.42. This represents a $1.72 annualized dividend and a dividend yield of 4.96%. Rexford Industrial Realty’s dividend payout ratio is currently 142.15%.

Wall Street Analyst Weigh In

Several research firms have commented on REXR. 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 target price on the stock. JPMorgan Chase & Co. dropped their price target on Rexford Industrial Realty from $45.00 to $44.00 and set a “neutral” rating on the stock in a 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 research note on Friday, February 28th. Industrial Alliance Securities set a $38.00 target price on Rexford Industrial Realty in a research note on Tuesday, March 25th. Finally, Barclays cut their price target on shares of Rexford Industrial Realty from $41.00 to $38.00 and set an “underweight” rating on the stock in a report on Tuesday, March 25th. Two 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 data from MarketBeat.com, Rexford Industrial Realty presently has a consensus rating of “Hold” and an average price target 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.