Daiwa Securities Group Inc. Reduces Position in Rexford Industrial Realty, Inc. (NYSE:REXR)

Daiwa Securities Group Inc. reduced its stake in shares of Rexford Industrial Realty, Inc. (NYSE:REXR) by 94.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 86,830 shares of the real estate investment trust’s stock after selling 1,361,589 shares during the period. Daiwa Securities Group Inc.’s holdings in Rexford Industrial Realty were worth $3,357,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the stock. UMB Bank n.a. lifted its position in 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 worth $39,000 after buying an additional 280 shares in the last quarter. Archer Investment Corp grew its holdings 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 shares of Rexford Industrial Realty by 239.6% in the 3rd quarter. Quarry LP now owns 2,649 shares of the real estate investment trust’s stock worth $133,000 after acquiring an additional 1,869 shares during the last quarter. SRS Capital Advisors Inc. raised its holdings 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 acquiring an additional 2,709 shares during the period. Finally, Advisors Asset Management Inc. boosted its position in shares of Rexford Industrial Realty by 49.5% during the 3rd quarter. Advisors Asset Management Inc. now owns 2,913 shares of the real estate investment trust’s stock valued at $147,000 after acquiring an additional 965 shares during the last quarter. 99.52% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms recently issued reports on REXR. JPMorgan Chase & Co. cut their price objective on shares of Rexford Industrial Realty from $45.00 to $44.00 and set a “neutral” rating for the company in a research report on Thursday, February 13th. Barclays cut their price target 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. Scotiabank decreased their price objective 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. Robert W. Baird lowered their price objective on Rexford Industrial Realty from $48.00 to $47.00 and set a “neutral” rating for the company in a research report on Tuesday, March 4th. Finally, Deutsche Bank Aktiengesellschaft began coverage on Rexford Industrial Realty in a research report on Tuesday, January 14th. They issued a “hold” rating and a $40.00 target price on the stock. 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. Based on data from MarketBeat.com, Rexford Industrial Realty currently has a consensus rating of “Hold” and an average target price of $48.50.

Rexford Industrial Realty Trading Down 1.0 %

REXR opened at $38.74 on Friday. Rexford Industrial Realty, Inc. has a 52 week low of $36.92 and a 52 week high of $53.00. The company has a quick ratio of 1.30, a current ratio of 1.30 and a debt-to-equity ratio of 0.39. The business has a fifty day simple moving average of $40.04 and a 200-day simple moving average of $43.29. The firm has a market cap of $8.83 billion, a P/E ratio of 32.02, a P/E/G ratio of 2.62 and a beta of 0.98.

Rexford Industrial Realty (NYSE:REXR) last announced its 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 return on equity of 3.26% and a net margin of 29.10%. On average, equities analysts expect that Rexford Industrial Realty, Inc. will post 2.38 earnings per share for the current year.

Rexford Industrial Realty Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be issued a $0.43 dividend. The ex-dividend date is Monday, March 31st. This represents a $1.72 dividend on an annualized basis and a dividend yield of 4.44%. This is a boost from Rexford Industrial Realty’s previous quarterly dividend of $0.42. Rexford Industrial Realty’s payout ratio is 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.