Norges Bank Takes $104.69 Million Position in Rexford Industrial Realty, Inc. (NYSE:REXR)

Norges Bank purchased a new stake in Rexford Industrial Realty, Inc. (NYSE:REXR) during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 2,707,848 shares of the real estate investment trust’s stock, valued at approximately $104,685,000. Norges Bank owned 1.22% of Rexford Industrial Realty as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Cerity Partners LLC increased its stake in shares of Rexford Industrial Realty by 5.6% during the third quarter. Cerity Partners LLC now owns 39,332 shares of the real estate investment trust’s stock worth $1,979,000 after purchasing an additional 2,075 shares in the last quarter. Bank of Montreal Can boosted its holdings in Rexford Industrial Realty by 5.2% in the 3rd quarter. Bank of Montreal Can now owns 72,416 shares of the real estate investment trust’s stock worth $3,658,000 after buying an additional 3,604 shares during the last quarter. FMR LLC increased its stake in Rexford Industrial Realty by 243.8% during the 3rd quarter. FMR LLC now owns 275,669 shares of the real estate investment trust’s stock worth $13,869,000 after buying an additional 195,496 shares in the last quarter. BNP Paribas Financial Markets raised its holdings in shares of Rexford Industrial Realty by 5.5% during the third quarter. BNP Paribas Financial Markets now owns 175,658 shares of the real estate investment trust’s stock valued at $8,837,000 after acquiring an additional 9,093 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Rexford Industrial Realty by 2.6% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 92,863 shares of the real estate investment trust’s stock valued at $4,672,000 after acquiring an additional 2,372 shares in the last quarter. Hedge funds and other institutional investors own 99.52% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on REXR shares. Scotiabank reduced their price objective on Rexford Industrial Realty from $48.00 to $47.00 and set a “sector perform” rating for the company in a research note on Friday, February 28th. JPMorgan Chase & Co. reduced their target price on shares of Rexford Industrial Realty from $45.00 to $44.00 and set a “neutral” rating for the company in a research report on Thursday, February 13th. Robert W. Baird lowered 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 research report on Tuesday, March 4th. Mizuho cut their price objective on shares of Rexford Industrial Realty from $46.00 to $45.00 and set a “neutral” rating for the company in a report on Wednesday, January 8th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on Rexford Industrial Realty in a report on Tuesday, January 14th. They set a “hold” rating and a $40.00 target price on the stock. 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. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $46.83.

Rexford Industrial Realty Trading Down 0.0 %

Shares of Rexford Industrial Realty stock opened at $39.15 on Wednesday. Rexford Industrial Realty, Inc. has a fifty-two week low of $36.92 and a fifty-two week high of $52.61. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.30 and a current ratio of 1.30. The firm has a market capitalization of $8.92 billion, a price-to-earnings ratio of 32.35, a PEG ratio of 2.62 and a beta of 0.98. The stock has a 50 day moving average of $40.33 and a 200 day moving average of $42.21.

Rexford Industrial Realty (NYSE:REXR) last issued its quarterly earnings data on Wednesday, February 5th. The real estate investment trust reported $0.58 earnings per share (EPS) for the quarter, topping 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 predict that Rexford Industrial Realty, Inc. will post 2.38 earnings per share for the current year.

Rexford Industrial Realty Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be issued a $0.43 dividend. 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 dividend yield of 4.39%. The ex-dividend date of this dividend is Monday, March 31st. Rexford Industrial Realty’s dividend payout ratio is currently 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.