KLP Kapitalforvaltning AS Purchases New Holdings in Rexford Industrial Realty, Inc. (NYSE:REXR)

KLP Kapitalforvaltning AS acquired a new position in Rexford Industrial Realty, Inc. (NYSE:REXR) during the fourth quarter, HoldingsChannel reports. The institutional investor acquired 44,000 shares of the real estate investment trust’s stock, valued at approximately $1,717,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Quantbot Technologies LP bought a new stake in shares of Rexford Industrial Realty in the 4th quarter worth approximately $33,000. UMB Bank n.a. boosted its holdings 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 acquiring an additional 280 shares in the last quarter. Whittier Trust Co. of Nevada Inc. grew its stake in shares of Rexford Industrial Realty by 515.7% in the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 1,490 shares of the real estate investment trust’s stock worth $58,000 after acquiring an additional 1,248 shares during the last quarter. SRS Capital Advisors Inc. increased its holdings in shares of Rexford Industrial Realty by 4,104.5% during the fourth quarter. SRS Capital Advisors Inc. now owns 2,775 shares of the real estate investment trust’s stock valued at $107,000 after acquiring an additional 2,709 shares in the last quarter. Finally, Exchange Traded Concepts LLC raised its position 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 purchasing an additional 371 shares during the last quarter. Hedge funds and other institutional investors own 99.52% of the company’s stock.

Rexford Industrial Realty Stock Performance

Shares of REXR opened at $39.37 on Friday. Rexford Industrial Realty, Inc. has a one year low of $36.92 and a one year high of $52.61. The business has a fifty day moving average of $40.35 and a 200 day moving average of $42.48. 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 firm has a market capitalization of $8.97 billion, a P/E ratio of 32.53, a PEG ratio of 2.62 and a beta of 0.98.

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 return on equity of 3.26% and a net margin of 29.10%. As a group, sell-side analysts anticipate that Rexford Industrial Realty, Inc. will post 2.38 EPS for the current year.

Rexford Industrial Realty Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be given a $0.43 dividend. The ex-dividend date of this dividend is Monday, March 31st. This is an increase from Rexford Industrial Realty’s previous quarterly dividend of $0.42. This represents a $1.72 annualized dividend and a yield of 4.37%. Rexford Industrial Realty’s dividend payout ratio (DPR) is presently 142.15%.

Analyst Ratings Changes

Several brokerages recently commented on REXR. Deutsche Bank Aktiengesellschaft initiated 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. Robert W. Baird cut their price target on shares of Rexford Industrial Realty from $48.00 to $47.00 and set a “neutral” rating on the stock in a report on Tuesday, March 4th. Industrial Alliance Securities set a $38.00 price objective on shares of Rexford Industrial Realty in a report on Tuesday. Scotiabank lowered their price objective on Rexford Industrial Realty from $48.00 to $47.00 and set a “sector perform” rating on the stock in a research report on Friday, February 28th. Finally, Barclays reduced their target price on Rexford Industrial Realty from $41.00 to $38.00 and set an “underweight” rating for the company in a report on Tuesday. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $46.83.

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.