Moran Wealth Management LLC Sells 930 Shares of Rexford Industrial Realty, Inc. (NYSE:REXR)

Moran Wealth Management LLC decreased its holdings in Rexford Industrial Realty, Inc. (NYSE:REXR) by 4.1% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 21,752 shares of the real estate investment trust’s stock after selling 930 shares during the period. Moran Wealth Management LLC’s holdings in Rexford Industrial Realty were worth $841,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. UMB Bank n.a. lifted its stake in 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 purchasing an additional 280 shares during the last quarter. IHT Wealth Management LLC increased its holdings in shares of Rexford Industrial Realty by 4.8% during the third quarter. IHT Wealth Management LLC now owns 6,451 shares of the real estate investment trust’s stock worth $325,000 after buying an additional 296 shares in the last quarter. CIBC Asset Management Inc lifted its stake in shares of Rexford Industrial Realty by 5.7% in the 4th quarter. CIBC Asset Management Inc now owns 6,572 shares of the real estate investment trust’s stock valued at $254,000 after acquiring an additional 355 shares during the last quarter. Exchange Traded Concepts LLC boosted its holdings in shares of Rexford Industrial Realty by 13.2% during the 4th quarter. Exchange Traded Concepts LLC now owns 3,172 shares of the real estate investment trust’s stock valued at $123,000 after acquiring an additional 371 shares in the last quarter. Finally, M&T Bank Corp grew its position in Rexford Industrial Realty by 1.5% during the 3rd quarter. M&T Bank Corp now owns 29,225 shares of the real estate investment trust’s stock worth $1,470,000 after acquiring an additional 442 shares during the last quarter. Institutional investors and hedge funds own 99.52% of the company’s stock.

Wall Street Analysts Forecast Growth

REXR has been the subject of several research reports. Robert W. Baird dropped their target price on Rexford Industrial Realty from $48.00 to $47.00 and set a “neutral” rating for the company in a research report on Tuesday, March 4th. Barclays dropped their price objective on shares of Rexford Industrial Realty from $44.00 to $41.00 and set an “underweight” rating for the company in a report on Monday, January 13th. Mizuho reduced their target price on shares of Rexford Industrial Realty from $46.00 to $45.00 and set a “neutral” rating on the stock in a report on Wednesday, January 8th. Deutsche Bank Aktiengesellschaft began coverage on shares of Rexford Industrial Realty in a research note on Tuesday, January 14th. They set a “hold” rating and a $40.00 price target for the company. Finally, Scotiabank cut 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. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $48.50.

Rexford Industrial Realty Price Performance

Shares of NYSE REXR opened at $39.63 on Wednesday. The company has a market capitalization of $9.04 billion, a PE ratio of 32.76, a P/E/G ratio of 2.62 and a beta of 0.98. 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 $53.45. The firm has a fifty day simple moving average of $40.02 and a 200 day simple moving average of $43.35.

Rexford Industrial Realty (NYSE:REXR) last posted its quarterly earnings data on Wednesday, February 5th. The real estate investment trust reported $0.58 earnings per share 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%. On average, sell-side analysts forecast 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 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 annualized dividend and a yield of 4.34%. Rexford Industrial Realty’s payout ratio is 142.15%.

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.