Zurcher Kantonalbank Zurich Cantonalbank Acquires 46,703 Shares of Rexford Industrial Realty, Inc. (NYSE:REXR)

Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Rexford Industrial Realty, Inc. (NYSE:REXR) by 50.3% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 139,566 shares of the real estate investment trust’s stock after buying an additional 46,703 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank owned about 0.06% of Rexford Industrial Realty worth $5,396,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the business. 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 valued at $39,000 after acquiring an additional 280 shares in the last quarter. Archer Investment Corp boosted its stake in shares of Rexford Industrial Realty by 61.5% during the 3rd quarter. Archer Investment Corp now owns 2,100 shares of the real estate investment trust’s stock valued at $106,000 after purchasing an additional 800 shares in the last quarter. SRS Capital Advisors Inc. increased its position 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 buying an additional 2,709 shares during the period. Exchange Traded Concepts LLC raised its stake in Rexford Industrial Realty by 13.2% in the fourth quarter. Exchange Traded Concepts LLC now owns 3,172 shares of the real estate investment trust’s stock worth $123,000 after buying an additional 371 shares in the last quarter. Finally, Quarry LP lifted its holdings in Rexford Industrial Realty by 239.6% in the third quarter. Quarry LP now owns 2,649 shares of the real estate investment trust’s stock worth $133,000 after buying an additional 1,869 shares during the period. 99.52% of the stock is owned by hedge funds and other institutional investors.

Rexford Industrial Realty Price Performance

Shares of NYSE REXR opened at $39.98 on Friday. The company has a 50 day moving average of $40.06 and a 200 day moving average of $43.21. 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 twelve month low of $36.92 and a twelve month high of $52.61. The firm has a market cap of $9.11 billion, a P/E ratio of 33.04, a PEG ratio of 2.62 and a beta of 0.98.

Rexford Industrial Realty (NYSE:REXR) last announced 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, research analysts expect that Rexford Industrial Realty, Inc. will post 2.38 EPS 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. Stockholders of record on Monday, March 31st will be paid a $0.43 dividend. The ex-dividend date is Monday, March 31st. This is a positive change from Rexford Industrial Realty’s previous quarterly dividend of $0.42. This represents a $1.72 dividend on an annualized basis and a dividend yield of 4.30%. Rexford Industrial Realty’s payout ratio is currently 142.15%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. JPMorgan Chase & Co. reduced their target price on Rexford Industrial Realty from $45.00 to $44.00 and set a “neutral” rating on the stock in a report on Thursday, February 13th. Mizuho decreased their price objective 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. Scotiabank dropped 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 report on Friday, February 28th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Rexford Industrial Realty in a research note on Tuesday, January 14th. They issued a “hold” rating and a $40.00 price target for the company. 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 on the stock in a research note on Tuesday, March 4th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, Rexford Industrial Realty currently has an average rating of “Hold” and a consensus 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.