United Services Automobile Association Raises Position in Rexford Industrial Realty, Inc. (NYSE:REXR)

United Services Automobile Association grew its stake in shares of Rexford Industrial Realty, Inc. (NYSE:REXRFree Report) by 12.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 16,590 shares of the real estate investment trust’s stock after purchasing an additional 1,829 shares during the period. United Services Automobile Association’s holdings in Rexford Industrial Realty were worth $931,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. GAMMA Investing LLC bought a new stake in shares of Rexford Industrial Realty during the 4th quarter valued at about $41,000. Principal Securities Inc. bought a new stake in Rexford Industrial Realty during the fourth quarter worth about $96,000. Signaturefd LLC boosted its stake in Rexford Industrial Realty by 45.9% during the third quarter. Signaturefd LLC now owns 2,270 shares of the real estate investment trust’s stock worth $112,000 after acquiring an additional 714 shares in the last quarter. International Assets Investment Management LLC boosted its stake in Rexford Industrial Realty by 5,510.9% during the fourth quarter. International Assets Investment Management LLC now owns 3,086 shares of the real estate investment trust’s stock worth $173,000 after acquiring an additional 3,031 shares in the last quarter. Finally, Cetera Trust Company N.A bought a new stake in Rexford Industrial Realty during the fourth quarter worth about $189,000. Institutional investors own 99.52% of the company’s stock.

Analyst Ratings Changes

Several brokerages have issued reports on REXR. Robert W. Baird decreased their target price on shares of Rexford Industrial Realty from $57.00 to $49.00 and set a “neutral” rating for the company in a report on Wednesday, May 1st. Scotiabank decreased their price objective on shares of Rexford Industrial Realty from $55.00 to $51.00 and set a “sector outperform” rating for the company in a report on Thursday, May 16th. Mizuho reissued a “neutral” rating and set a $52.00 price objective on shares of Rexford Industrial Realty in a report on Tuesday, April 2nd. Barclays upped their target price on shares of Rexford Industrial Realty from $45.00 to $46.00 and gave the company an “underweight” rating in a report on Tuesday, April 23rd. Finally, TheStreet raised shares of Rexford Industrial Realty from a “c+” rating to a “b-” rating in a report on Thursday, February 1st. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, Rexford Industrial Realty presently has an average rating of “Hold” and an average price target of $53.00.

Check Out Our Latest Stock Report on Rexford Industrial Realty

Rexford Industrial Realty Price Performance

REXR stock traded down $0.21 during trading on Wednesday, hitting $43.49. 156,253 shares of the company’s stock traded hands, compared to its average volume of 1,826,721. Rexford Industrial Realty, Inc. has a 52 week low of $41.56 and a 52 week high of $58.02. The company has a debt-to-equity ratio of 0.41, a quick ratio of 3.21 and a current ratio of 3.21. The business has a fifty day simple moving average of $46.04 and a 200 day simple moving average of $50.39. The stock has a market capitalization of $9.47 billion, a price-to-earnings ratio of 40.09, a P/E/G ratio of 1.76 and a beta of 0.89.

Rexford Industrial Realty (NYSE:REXRGet Free Report) last announced its earnings results on Thursday, April 18th. The real estate investment trust reported $0.27 earnings per share for the quarter, missing the consensus estimate of $0.57 by ($0.30). The firm had revenue of $214.10 million during the quarter, compared to analysts’ expectations of $207.39 million. Rexford Industrial Realty had a net margin of 28.84% and a return on equity of 3.04%. The company’s revenue was up 15.0% compared to the same quarter last year. During the same period in the prior year, the company posted $0.52 EPS. As a group, research analysts expect that Rexford Industrial Realty, Inc. will post 2.34 EPS for the current fiscal year.

Rexford Industrial Realty Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Friday, June 28th will be issued a dividend of $0.417 per share. This represents a $1.67 annualized dividend and a yield of 3.84%. The ex-dividend date is Friday, June 28th. Rexford Industrial Realty’s payout ratio is 153.21%.

About Rexford Industrial Realty

(Free Report)

Rexford Industrial creates value by investing in, operating and redeveloping industrial properties throughout infill Southern California, the world's fourth largest industrial market and consistently the highest-demand with lowest-supply major market in the nation. The Company's highly differentiated strategy enables internal and external growth opportunities through its proprietary value creation and asset management capabilities.

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

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