Handelsbanken Fonder AB Sells 2,700 Shares of Rexford Industrial Realty, Inc. (NYSE:REXR)

Handelsbanken Fonder AB lessened its position in shares of Rexford Industrial Realty, Inc. (NYSE:REXR) by 4.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 63,502 shares of the real estate investment trust’s stock after selling 2,700 shares during the quarter. Handelsbanken Fonder AB’s holdings in Rexford Industrial Realty were worth $2,455,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. UMB Bank n.a. lifted its position in Rexford Industrial Realty by 38.9% in 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 during the period. Archer Investment Corp raised its stake in shares of 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. Exchange Traded Concepts LLC lifted its holdings in shares of Rexford Industrial Realty by 13.2% during the 4th quarter. Exchange Traded Concepts LLC now owns 3,172 shares of the real estate investment trust’s stock worth $123,000 after acquiring an additional 371 shares during the period. Catalyst Capital Advisors LLC acquired a new stake in shares of Rexford Industrial Realty during the 3rd quarter valued at about $129,000. Finally, International Assets Investment Management LLC increased its stake in Rexford Industrial Realty by 4,835.8% in the third quarter. International Assets Investment Management LLC now owns 2,616 shares of the real estate investment trust’s stock valued at $132,000 after acquiring an additional 2,563 shares during the period. 99.52% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have commented on REXR. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Rexford Industrial Realty in a research note on Tuesday, January 14th. They set a “hold” rating and a $40.00 price target for the company. Barclays cut their target price on Rexford Industrial Realty from $44.00 to $41.00 and set an “underweight” rating for the company in a research report on Monday, January 13th. Mizuho decreased their price target on Rexford Industrial Realty from $46.00 to $45.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 8th. Truist Financial dropped their price objective on Rexford Industrial Realty from $54.00 to $50.00 and set a “buy” rating for the company in a research note on Tuesday, November 12th. 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 on the stock in a research note on Thursday, February 13th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, Rexford Industrial Realty currently has an average rating of “Hold” and a consensus price target of $48.75.

Rexford Industrial Realty Stock Performance

Rexford Industrial Realty stock opened at $40.23 on Tuesday. The stock has a 50-day simple moving average of $39.59 and a 200 day simple moving average of $44.12. The stock has a market capitalization of $9.17 billion, a price-to-earnings ratio of 33.24, a P/E/G ratio of 2.62 and a beta of 0.95. The company has a quick ratio of 1.30, a current ratio of 1.30 and a debt-to-equity ratio of 0.39. Rexford Industrial Realty, Inc. has a 12-month low of $36.92 and a 12-month high of $53.88.

Rexford Industrial Realty (NYSE:REXR) last announced its earnings results on Wednesday, February 5th. The real estate investment trust reported $0.58 earnings per share for the quarter, topping 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, research analysts anticipate that Rexford Industrial Realty, Inc. will post 2.38 earnings per share for the current fiscal year.

Rexford Industrial Realty Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be given a $0.43 dividend. This represents a $1.72 annualized dividend and a 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 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.