Amalgamated Bank Boosts Stake in Rexford Industrial Realty, Inc. (NYSE:REXR)

Amalgamated Bank boosted its stake in Rexford Industrial Realty, Inc. (NYSE:REXR) by 0.9% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 105,243 shares of the real estate investment trust’s stock after purchasing an additional 962 shares during the period. Amalgamated Bank’s holdings in Rexford Industrial Realty were worth $4,069,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. raised its holdings 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 valued at $226,575,000 after buying an additional 954,202 shares during the period. Geode Capital Management LLC grew its position in Rexford Industrial Realty by 1.9% in the 3rd quarter. Geode Capital Management LLC now owns 4,074,044 shares of the real estate investment trust’s stock valued at $205,014,000 after acquiring an additional 74,865 shares in the last quarter. Massachusetts Financial Services Co. MA increased its stake in Rexford Industrial Realty by 14.8% during 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 purchasing an additional 431,659 shares during the period. Wellington Management Group LLP lifted its position in shares of Rexford Industrial Realty by 1.9% during the third quarter. Wellington Management Group LLP now owns 2,265,637 shares of the real estate investment trust’s stock worth $113,984,000 after purchasing an additional 42,450 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Rexford Industrial Realty by 338.0% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,930,706 shares of the real estate investment trust’s stock valued at $97,134,000 after purchasing an additional 1,489,876 shares during the period. Hedge funds and other institutional investors own 99.52% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on REXR shares. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Rexford Industrial Realty in a research note on Tuesday, January 14th. They set a “hold” rating and a $40.00 target price on the stock. JPMorgan Chase & Co. cut their price objective on Rexford Industrial Realty from $45.00 to $44.00 and set a “neutral” rating on the stock in a research report on Thursday, February 13th. Mizuho decreased their target price on Rexford Industrial Realty from $46.00 to $45.00 and set a “neutral” rating for the company in a report on Wednesday, January 8th. Barclays lowered their target price on Rexford Industrial Realty from $44.00 to $41.00 and set an “underweight” rating for the company in a research note on Monday, January 13th. Finally, Scotiabank reduced their price target 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. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $48.67.

Rexford Industrial Realty Stock Performance

Shares of REXR opened at $41.38 on Friday. The company has a quick ratio of 1.30, a current ratio of 1.30 and a debt-to-equity ratio of 0.39. Rexford Industrial Realty, Inc. has a 52-week low of $36.92 and a 52-week high of $53.88. The stock has a 50 day moving average price of $39.70 and a 200 day moving average price of $44.01. The company has a market capitalization of $9.43 billion, a price-to-earnings ratio of 34.19, a price-to-earnings-growth ratio of 2.62 and a beta of 0.95.

Rexford Industrial Realty (NYSE:REXR) last posted its earnings results on Wednesday, February 5th. The real estate investment trust reported $0.58 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%. Research analysts predict that Rexford Industrial Realty, Inc. will post 2.38 EPS for the current fiscal year.

Rexford Industrial Realty Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be given a dividend of $0.43 per share. The ex-dividend date is Monday, March 31st. This represents a $1.72 dividend on an annualized basis and a dividend yield of 4.16%. This is a boost from Rexford Industrial Realty’s previous quarterly dividend of $0.42. Rexford Industrial Realty’s payout ratio is 142.15%.

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.