Commonwealth Equity Services LLC Has $3.66 Million Stock Holdings in Rexford Industrial Realty, Inc. (NYSE:REXR)

Commonwealth Equity Services LLC trimmed its position in Rexford Industrial Realty, Inc. (NYSE:REXR) by 5.9% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 94,770 shares of the real estate investment trust’s stock after selling 5,933 shares during the period. Commonwealth Equity Services LLC’s holdings in Rexford Industrial Realty were worth $3,664,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Rexford Industrial Realty by 338.0% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,930,706 shares of the real estate investment trust’s stock worth $97,134,000 after acquiring an additional 1,489,876 shares during the last quarter. JPMorgan Chase & Co. increased its stake 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. OFI Invest Asset Management acquired a new position in shares of Rexford Industrial Realty during the 4th quarter worth about $13,959,000. PGGM Investments lifted its position in shares of Rexford Industrial Realty by 11.7% during the 4th quarter. PGGM Investments now owns 3,302,781 shares of the real estate investment trust’s stock worth $127,686,000 after purchasing an additional 344,972 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new stake in Rexford Industrial Realty during the 4th quarter valued at approximately $11,830,000. 99.52% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

REXR has been the topic of several recent analyst reports. Scotiabank dropped their price target on Rexford Industrial Realty from $48.00 to $47.00 and set a “sector perform” rating on the stock in a research report on Friday, February 28th. Robert W. Baird cut their target price on shares of Rexford Industrial Realty from $48.00 to $47.00 and set a “neutral” rating for the company in a research note on Tuesday, March 4th. Mizuho reduced their price target 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. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Rexford Industrial Realty in a report on Tuesday, January 14th. They set a “hold” rating and a $40.00 price objective on the stock. Finally, JPMorgan Chase & Co. reduced their target price on shares of Rexford Industrial Realty from $45.00 to $44.00 and set a “neutral” rating for the company in a research note on Thursday, February 13th. 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. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $48.50.

Rexford Industrial Realty Stock Up 2.9 %

REXR opened at $40.17 on Tuesday. The firm has a market cap of $9.16 billion, a price-to-earnings ratio of 33.20, a PEG ratio of 2.62 and a beta of 0.98. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.30 and a current ratio of 1.30. The firm’s 50-day simple moving average is $40.31 and its 200-day simple moving average is $42.65. Rexford Industrial Realty, Inc. has a twelve month low of $36.92 and a twelve month high of $52.61.

Rexford Industrial Realty (NYSE:REXR) last posted its quarterly earnings data on Wednesday, February 5th. The real estate investment trust reported $0.58 earnings per share for the quarter, topping the consensus estimate of $0.27 by $0.31. Rexford Industrial Realty had a net margin of 29.10% and a return on equity of 3.26%. Equities research analysts anticipate that Rexford Industrial Realty, Inc. will post 2.38 EPS for the current fiscal year.

Rexford Industrial Realty Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be issued a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a dividend yield of 4.28%. The ex-dividend date is Monday, March 31st. This is a boost from Rexford Industrial Realty’s previous quarterly dividend of $0.42. Rexford Industrial Realty’s dividend payout ratio is presently 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.