Avantax Advisory Services Inc. Lowers Stock Holdings in Rexford Industrial Realty, Inc. (NYSE:REXR)

Avantax Advisory Services Inc. reduced its position in shares of Rexford Industrial Realty, Inc. (NYSE:REXR) by 46.4% during the 4th quarter, HoldingsChannel reports. The firm owned 13,436 shares of the real estate investment trust’s stock after selling 11,622 shares during the period. Avantax Advisory Services Inc.’s holdings in Rexford Industrial Realty were worth $519,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Quest Partners LLC purchased a new position in Rexford Industrial Realty during the third quarter valued at approximately $449,000. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of Rexford Industrial Realty during the 3rd quarter worth $2,225,000. Advisors Asset Management Inc. boosted its position in Rexford Industrial Realty by 49.5% during the third quarter. Advisors Asset Management Inc. now owns 2,913 shares of the real estate investment trust’s stock valued at $147,000 after purchasing an additional 965 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its stake in Rexford Industrial Realty by 9.8% in the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 350,199 shares of the real estate investment trust’s stock valued at $17,619,000 after purchasing an additional 31,307 shares during the last quarter. Finally, Intech Investment Management LLC raised its holdings in Rexford Industrial Realty by 160.3% in the third quarter. Intech Investment Management LLC now owns 19,161 shares of the real estate investment trust’s stock worth $964,000 after purchasing an additional 11,800 shares in the last quarter. 99.52% of the stock is owned by institutional investors.

Rexford Industrial Realty Price Performance

Shares of NYSE REXR opened at $39.00 on Friday. The firm’s 50 day simple moving average is $40.27 and its 200-day simple moving average is $42.78. Rexford Industrial Realty, Inc. has a 12 month low of $36.92 and a 12 month high of $52.61. The stock has a market capitalization of $8.89 billion, a price-to-earnings ratio of 32.23, a PEG ratio of 2.62 and a beta of 0.98. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.30 and a quick ratio of 1.30.

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 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%. Analysts expect that Rexford Industrial Realty, Inc. will post 2.38 EPS for the current year.

Rexford Industrial Realty Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be paid 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 4.41%. This is a boost from Rexford Industrial Realty’s previous quarterly dividend of $0.42. Rexford Industrial Realty’s payout ratio is currently 142.15%.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on REXR shares. Mizuho cut their price target 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. JPMorgan Chase & Co. dropped their target price on Rexford Industrial Realty from $45.00 to $44.00 and set a “neutral” rating on the stock in a research note on Thursday, February 13th. Barclays decreased their price target 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. Scotiabank dropped 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 note on Friday, February 28th. Finally, Robert W. Baird lowered their price objective on shares of Rexford Industrial Realty from $48.00 to $47.00 and set a “neutral” rating for the company in a research note on Tuesday, March 4th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $48.50.

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.