Prudential Financial Inc. Sells 1,106,954 Shares of Rexford Industrial Realty, Inc. (NYSE:REXR)

Prudential Financial Inc. decreased its position in shares of Rexford Industrial Realty, Inc. (NYSE:REXR) by 82.0% in the 4th quarter, HoldingsChannel reports. The firm owned 243,584 shares of the real estate investment trust’s stock after selling 1,106,954 shares during the quarter. Prudential Financial Inc.’s holdings in Rexford Industrial Realty were worth $9,417,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. UMB Bank n.a. raised its position in shares of Rexford Industrial Realty by 38.9% in the 4th quarter. UMB Bank n.a. now owns 999 shares of the real estate investment trust’s stock valued at $39,000 after buying an additional 280 shares in the last quarter. IHT Wealth Management LLC increased its stake in Rexford Industrial Realty by 4.8% in the third quarter. IHT Wealth Management LLC now owns 6,451 shares of the real estate investment trust’s stock valued at $325,000 after acquiring an additional 296 shares during the last quarter. CIBC Asset Management Inc raised its position in Rexford Industrial Realty by 5.7% during the fourth quarter. CIBC Asset Management Inc now owns 6,572 shares of the real estate investment trust’s stock valued at $254,000 after purchasing an additional 355 shares in the last quarter. Exchange Traded Concepts LLC lifted its stake in Rexford Industrial Realty by 13.2% during the fourth 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. Finally, M&T Bank Corp boosted its holdings in shares of Rexford Industrial Realty by 1.5% in the 3rd quarter. M&T Bank Corp now owns 29,225 shares of the real estate investment trust’s stock valued at $1,470,000 after purchasing an additional 442 shares in the last quarter. 99.52% of the stock is currently owned by institutional investors and hedge funds.

Rexford Industrial Realty Price Performance

REXR stock opened at $39.37 on Friday. The company 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. The company has a fifty day moving average price of $40.35 and a 200-day moving average price of $42.42. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.30 and a current ratio of 1.30. Rexford Industrial Realty, Inc. has a 52-week low of $36.92 and a 52-week high of $52.61.

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 (EPS) for the quarter, topping the consensus estimate 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, equities analysts expect that Rexford Industrial Realty, Inc. will post 2.38 EPS for the current year.

Rexford Industrial Realty Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be issued a $0.43 dividend. The ex-dividend date of this dividend is Monday, March 31st. This is a boost 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 is presently 142.15%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. Industrial Alliance Securities set a $38.00 price target on Rexford Industrial Realty in a report on Tuesday. Deutsche Bank Aktiengesellschaft initiated coverage on Rexford Industrial Realty in a research note on Tuesday, January 14th. They set a “hold” rating and a $40.00 target price for the company. JPMorgan Chase & Co. reduced their price target 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. Scotiabank decreased their price target on shares of Rexford Industrial Realty from $48.00 to $47.00 and set a “sector perform” rating on the stock in a report on Friday, February 28th. Finally, Robert W. Baird dropped their price objective on shares of Rexford Industrial Realty from $48.00 to $47.00 and set a “neutral” rating for the company in a research note on Tuesday, March 4th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $46.83.

Rexford Industrial Realty Profile

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.