JPMorgan Chase & Co. Decreases Position in Rexford Industrial Realty Inc (REXR)

JPMorgan Chase & Co. cut its stake in shares of Rexford Industrial Realty Inc (NYSE:REXR) by 19.9% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 407,778 shares of the real estate investment trust’s stock after selling 101,265 shares during the quarter. JPMorgan Chase & Co. owned 0.53% of Rexford Industrial Realty worth $11,659,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently made changes to their positions in the company. Virginia Retirement Systems ET AL bought a new stake in Rexford Industrial Realty during the 3rd quarter worth approximately $3,887,000. Legal & General Group Plc grew its holdings in Rexford Industrial Realty by 2.7% during the 3rd quarter. Legal & General Group Plc now owns 621,807 shares of the real estate investment trust’s stock worth $17,796,000 after acquiring an additional 16,528 shares during the last quarter. Eagle Asset Management Inc. bought a new stake in Rexford Industrial Realty during the 3rd quarter worth approximately $15,020,000. Great West Life Assurance Co. Can grew its holdings in Rexford Industrial Realty by 7.6% during the 3rd quarter. Great West Life Assurance Co. Can now owns 41,740 shares of the real estate investment trust’s stock worth $1,192,000 after acquiring an additional 2,955 shares during the last quarter. Finally, American International Group Inc. grew its holdings in Rexford Industrial Realty by 12.6% during the 3rd quarter. American International Group Inc. now owns 46,242 shares of the real estate investment trust’s stock worth $1,323,000 after acquiring an additional 5,162 shares during the last quarter. 99.85% of the stock is currently owned by institutional investors.

Shares of Rexford Industrial Realty Inc (NYSE:REXR) opened at $29.10 on Friday. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.72 and a quick ratio of 0.72. Rexford Industrial Realty Inc has a 12 month low of $21.34 and a 12 month high of $31.71. The company has a market cap of $2,287.11, a price-to-earnings ratio of 31.23, a PEG ratio of 3.98 and a beta of 0.77.

Rexford Industrial Realty (NYSE:REXR) last posted its quarterly earnings data on Tuesday, October 31st. The real estate investment trust reported $0.25 EPS for the quarter, beating the Zacks’ consensus estimate of $0.24 by $0.01. Rexford Industrial Realty had a net margin of 23.50% and a return on equity of 3.39%. The company had revenue of $43.30 million for the quarter, compared to analyst estimates of $41.77 million. During the same period in the prior year, the firm posted $0.22 EPS. The company’s quarterly revenue was up 30.0% on a year-over-year basis. sell-side analysts anticipate that Rexford Industrial Realty Inc will post 0.96 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, January 15th. Stockholders of record on Friday, December 29th will be paid a $0.145 dividend. This represents a $0.58 dividend on an annualized basis and a dividend yield of 1.99%. The ex-dividend date is Thursday, December 28th. Rexford Industrial Realty’s dividend payout ratio is currently 134.89%.

A number of research firms have weighed in on REXR. J P Morgan Chase & Co lowered shares of Rexford Industrial Realty from a “neutral” rating to an “underweight” rating and set a $29.00 target price on the stock. in a report on Friday, December 15th. National Securities reissued a “buy” rating and set a $34.00 target price on shares of Rexford Industrial Realty in a report on Monday, November 27th. B. Riley reissued a “neutral” rating on shares of Rexford Industrial Realty in a report on Tuesday, November 7th. BidaskClub raised shares of Rexford Industrial Realty from a “hold” rating to a “buy” rating in a report on Saturday, November 4th. Finally, Zacks Investment Research lowered shares of Rexford Industrial Realty from a “buy” rating to a “hold” rating in a report on Wednesday, October 25th. One analyst has rated the stock with a sell rating, four have given a hold rating and five have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $30.78.

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About Rexford Industrial Realty

Rexford Industrial Realty, Inc is a self-administered and self-managed full-service real estate investment trust (REIT). The Company is focused on owning, operating and acquiring industrial properties in Southern California infill markets. Rexford Industrial Realty, L.P. is the operating partnership of the Company.

Institutional Ownership by Quarter for Rexford Industrial Realty (NYSE:REXR)

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