Zurcher Kantonalbank Zurich Cantonalbank Boosts Position in Rexford Industrial Realty, Inc. (NYSE:REXR)

Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Rexford Industrial Realty, Inc. (NYSE:REXR) by 50.3% during the 4th quarter, HoldingsChannel reports. The firm owned 139,566 shares of the real estate investment trust’s stock after purchasing an additional 46,703 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Rexford Industrial Realty were worth $5,396,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in REXR. JPMorgan Chase & Co. increased its stake in shares of Rexford Industrial Realty by 26.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 4,503,571 shares of the real estate investment trust’s stock worth $226,575,000 after purchasing an additional 954,202 shares in the last quarter. Geode Capital Management LLC increased its position in Rexford Industrial Realty by 1.9% in the third quarter. Geode Capital Management LLC now owns 4,074,044 shares of the real estate investment trust’s stock worth $205,014,000 after buying an additional 74,865 shares in the last quarter. Massachusetts Financial Services Co. MA raised its stake in shares of Rexford Industrial Realty by 14.8% in the third quarter. Massachusetts Financial Services Co. MA now owns 3,339,219 shares of the real estate investment trust’s stock worth $167,996,000 after buying an additional 431,659 shares during the period. Charles Schwab Investment Management Inc. lifted its position in shares of Rexford Industrial Realty by 3.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,782,904 shares of the real estate investment trust’s stock valued at $107,587,000 after buying an additional 93,360 shares in the last quarter. Finally, Wellington Management Group LLP grew its stake in shares of Rexford Industrial Realty by 1.9% during the 3rd quarter. Wellington Management Group LLP now owns 2,265,637 shares of the real estate investment trust’s stock valued at $113,984,000 after acquiring an additional 42,450 shares during the period. 99.52% of the stock is currently owned by institutional investors.

Rexford Industrial Realty Stock Up 3.1 %

Shares of REXR opened at $39.98 on Friday. 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 has a market capitalization of $9.11 billion, a price-to-earnings ratio of 33.04, a price-to-earnings-growth ratio of 2.62 and a beta of 0.98. Rexford Industrial Realty, Inc. has a 1 year low of $36.92 and a 1 year high of $52.61. The business’s 50 day simple moving average is $40.06 and its 200-day simple moving average is $43.21.

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 (EPS) 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%. As a group, equities analysts expect 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 declared 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. The ex-dividend date is Monday, March 31st. This represents a $1.72 annualized dividend and a yield of 4.30%. This is a positive change from Rexford Industrial Realty’s previous quarterly dividend of $0.42. Rexford Industrial Realty’s dividend payout ratio (DPR) is currently 142.15%.

Wall Street Analyst Weigh In

REXR has been the topic of a number of recent analyst reports. Scotiabank decreased their target price 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. Deutsche Bank Aktiengesellschaft began coverage on shares of 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. JPMorgan Chase & Co. dropped their target price on shares of Rexford Industrial Realty from $45.00 to $44.00 and set a “neutral” rating for the company in a report on Thursday, February 13th. Robert W. Baird decreased their price target on Rexford Industrial Realty from $48.00 to $47.00 and set a “neutral” rating on the stock in a report on Tuesday, March 4th. Finally, Mizuho dropped their price objective on Rexford Industrial Realty from $46.00 to $45.00 and set a “neutral” rating for the company in a research note on Wednesday, January 8th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, Rexford Industrial Realty currently has an average rating of “Hold” and an average price target of $48.50.

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.