Cynosure Group LLC Increases Position in Rexford Industrial Realty, Inc. (NYSE:REXR)

Cynosure Group LLC increased its holdings in Rexford Industrial Realty, Inc. (NYSE:REXR) by 12.6% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 7,925 shares of the real estate investment trust’s stock after purchasing an additional 889 shares during the quarter. Cynosure Group LLC’s holdings in Rexford Industrial Realty were worth $306,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Norges Bank acquired a new position in shares of Rexford Industrial Realty during the 4th quarter worth approximately $104,685,000. JPMorgan Chase & Co. increased its holdings in 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 worth $226,575,000 after acquiring an additional 954,202 shares in the last quarter. Duff & Phelps Investment Management Co. raised its position in Rexford Industrial Realty by 40.4% during the fourth quarter. Duff & Phelps Investment Management Co. now owns 2,910,765 shares of the real estate investment trust’s stock worth $112,530,000 after acquiring an additional 837,630 shares during the period. Vanguard Group Inc. lifted its holdings in Rexford Industrial Realty by 1.9% during the fourth quarter. Vanguard Group Inc. now owns 29,931,981 shares of the real estate investment trust’s stock valued at $1,157,170,000 after purchasing an additional 562,710 shares in the last quarter. Finally, OFI Invest Asset Management acquired a new stake in shares of Rexford Industrial Realty in the fourth quarter valued at about $13,959,000. Hedge funds and other institutional investors own 99.52% of the company’s stock.

Rexford Industrial Realty Trading Up 0.7 %

Shares of REXR opened at $39.41 on Thursday. The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 0.39. The firm has a 50-day moving average price of $40.32 and a 200 day moving average price of $42.19. Rexford Industrial Realty, Inc. has a 12-month low of $36.92 and a 12-month high of $52.61. The firm has a market capitalization of $8.98 billion, a P/E ratio of 32.57, a P/E/G ratio of 2.62 and a beta of 0.99.

Rexford Industrial Realty (NYSE:REXR) last announced its quarterly earnings results on Wednesday, February 5th. The real estate investment trust reported $0.58 EPS for the quarter, beating 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%. Sell-side analysts forecast that Rexford Industrial Realty, Inc. will post 2.38 EPS for the current year.

Rexford Industrial Realty Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders 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 is a boost 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 4.36%. Rexford Industrial Realty’s dividend payout ratio (DPR) is currently 142.15%.

Analysts Set New Price Targets

REXR has been the subject of several research analyst reports. JPMorgan Chase & Co. reduced their price target 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. Barclays decreased their target price on Rexford Industrial Realty from $41.00 to $38.00 and set an “underweight” rating on the stock in a research report on Tuesday, March 25th. Industrial Alliance Securities set a $38.00 price target on Rexford Industrial Realty in a research report on Tuesday, March 25th. Robert W. Baird lowered their target price 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. Finally, Mizuho reduced their target price on shares of Rexford Industrial Realty from $46.00 to $45.00 and set a “neutral” rating for the company in a research report on Wednesday, January 8th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, Rexford Industrial Realty has a consensus rating of “Hold” and an average target price of $46.83.

Rexford Industrial Realty Company 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.