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

Alliancebernstein L.P. lowered its position in Rexford Industrial Realty, Inc. (NYSE:REXR) by 5.3% in the 4th quarter, Holdings Channel reports. The firm owned 1,627,906 shares of the real estate investment trust’s stock after selling 90,579 shares during the quarter. Alliancebernstein L.P.’s holdings in Rexford Industrial Realty were worth $62,935,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. UMB Bank n.a. lifted its stake in shares of Rexford Industrial Realty by 38.9% during the 4th quarter. UMB Bank n.a. now owns 999 shares of the real estate investment trust’s stock worth $39,000 after acquiring an additional 280 shares during the last quarter. IHT Wealth Management LLC increased its stake in Rexford Industrial Realty by 4.8% in the third quarter. IHT Wealth Management LLC now owns 6,451 shares of the real estate investment trust’s stock worth $325,000 after purchasing an additional 296 shares during the period. CIBC Asset Management Inc lifted its position in shares of Rexford Industrial Realty by 5.7% during the fourth quarter. CIBC Asset Management Inc now owns 6,572 shares of the real estate investment trust’s stock worth $254,000 after purchasing an additional 355 shares during the last quarter. Exchange Traded Concepts LLC boosted its stake in shares of Rexford Industrial Realty by 13.2% during the fourth quarter. Exchange Traded Concepts LLC now owns 3,172 shares of the real estate investment trust’s stock valued at $123,000 after purchasing an additional 371 shares during the period. Finally, M&T Bank Corp grew its holdings in shares of Rexford Industrial Realty by 1.5% in the third quarter. M&T Bank Corp now owns 29,225 shares of the real estate investment trust’s stock worth $1,470,000 after purchasing an additional 442 shares during the last quarter. Hedge funds and other institutional investors own 99.52% of the company’s stock.

Rexford Industrial Realty Price Performance

Shares of REXR stock opened at $34.69 on Friday. The company has a market cap of $7.91 billion, a P/E ratio of 28.67, a PEG ratio of 2.62 and a beta of 0.99. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.30 and a quick ratio of 1.30. The stock’s 50-day moving average is $40.11 and its 200 day moving average is $42.03. Rexford Industrial Realty, Inc. has a 1-year low of $33.80 and a 1-year high of $52.61.

Rexford Industrial Realty (NYSE:REXR) last released its quarterly earnings results on Wednesday, February 5th. The real estate investment trust reported $0.58 earnings per share 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%. Research analysts predict that Rexford Industrial Realty, Inc. will post 2.38 earnings per share 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 issued a $0.43 dividend. This is a positive change from Rexford Industrial Realty’s previous quarterly dividend of $0.42. This represents a $1.72 annualized dividend and a yield of 4.96%. The ex-dividend date of this dividend is Monday, March 31st. Rexford Industrial Realty’s payout ratio is currently 142.15%.

Analysts Set New Price Targets

A number of brokerages recently weighed in on REXR. Industrial Alliance Securities set a $38.00 price objective on shares of Rexford Industrial Realty in a report on Tuesday, March 25th. Barclays lowered their price target on Rexford Industrial Realty from $41.00 to $38.00 and set an “underweight” rating for the company in a report on Tuesday, March 25th. Robert W. Baird dropped their price objective on Rexford Industrial Realty from $48.00 to $47.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 4th. Deutsche Bank Aktiengesellschaft assumed coverage on Rexford Industrial Realty in a research report on Tuesday, January 14th. They set a “hold” rating and a $40.00 target price for the company. Finally, 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. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $46.83.

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.