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

Sun Life Financial Inc. raised its holdings in shares of Rexford Industrial Realty, Inc. (NYSE:REXR) by 7.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 160,448 shares of the real estate investment trust’s stock after buying an additional 10,870 shares during the quarter. Rexford Industrial Realty comprises about 0.3% of Sun Life Financial Inc.’s holdings, making the stock its 27th largest position. Sun Life Financial Inc.’s holdings in Rexford Industrial Realty were worth $6,203,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the business. UMB Bank n.a. grew its holdings in shares of 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 purchasing an additional 280 shares in the last quarter. IHT Wealth Management LLC grew its stake in Rexford Industrial Realty by 4.8% in the 3rd quarter. IHT Wealth Management LLC now owns 6,451 shares of the real estate investment trust’s stock worth $325,000 after buying an additional 296 shares in the last quarter. CIBC Asset Management Inc grew its stake in Rexford Industrial Realty by 5.7% in the 4th quarter. CIBC Asset Management Inc now owns 6,572 shares of the real estate investment trust’s stock worth $254,000 after buying an additional 355 shares in the last quarter. Exchange Traded Concepts LLC increased its holdings in shares of Rexford Industrial Realty by 13.2% in the 4th quarter. Exchange Traded Concepts LLC now owns 3,172 shares of the real estate investment trust’s stock worth $123,000 after buying an additional 371 shares during the last quarter. Finally, M&T Bank Corp raised its position in shares of Rexford Industrial Realty by 1.5% during the 3rd quarter. M&T Bank Corp now owns 29,225 shares of the real estate investment trust’s stock valued at $1,470,000 after buying an additional 442 shares in the last quarter. 99.52% of the stock is currently owned by institutional investors.

Rexford Industrial Realty Trading Down 3.3 %

NYSE:REXR opened at $34.69 on Friday. The firm has a market capitalization of $7.91 billion, a P/E ratio of 28.67, a P/E/G ratio of 2.62 and a beta of 0.99. 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 company has a fifty day moving average of $40.11 and a 200 day moving average of $42.03. Rexford Industrial Realty, Inc. has a 52 week low of $33.80 and a 52 week high of $52.61.

Rexford Industrial Realty (NYSE:REXR) last issued its quarterly earnings data on Wednesday, February 5th. The real estate investment trust reported $0.58 EPS for the quarter, beating 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%. On average, research analysts predict 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. Shareholders of record on Monday, March 31st will be issued a $0.43 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $1.72 annualized dividend and a yield of 4.96%. This is a boost from Rexford Industrial Realty’s previous quarterly dividend of $0.42. Rexford Industrial Realty’s dividend payout ratio (DPR) is 142.15%.

Analyst Ratings Changes

REXR has been the topic of a number of research analyst reports. Barclays reduced their target price on Rexford Industrial Realty from $41.00 to $38.00 and set an “underweight” rating on the stock in a research note on Tuesday, March 25th. Deutsche Bank Aktiengesellschaft began coverage on 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. Industrial Alliance Securities set a $38.00 price objective on Rexford Industrial Realty in a report on Tuesday, March 25th. Robert W. Baird cut their target price on 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. Finally, Scotiabank decreased their price target on shares of Rexford Industrial Realty from $48.00 to $47.00 and set a “sector perform” rating on the stock in a research note on Friday, February 28th. 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 company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $46.83.

Rexford Industrial Realty Company 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.