Reinhart Partners LLC. Sells 10,886 Shares of Rexford Industrial Realty, Inc. (NYSE:REXR)

Reinhart Partners LLC. reduced its position in Rexford Industrial Realty, Inc. (NYSE:REXR - Free Report) by 3.9% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 271,712 shares of the real estate investment trust's stock after selling 10,886 shares during the quarter. Reinhart Partners LLC. owned about 0.12% of Rexford Industrial Realty worth $10,638,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Rush Island Management LP bought a new stake in Rexford Industrial Realty during the 4th quarter valued at $132,701,000. Norges Bank purchased a new stake in shares of Rexford Industrial Realty in the 4th quarter worth about $104,685,000. Long Pond Capital LP purchased a new stake in shares of Rexford Industrial Realty in the 4th quarter worth about $58,595,000. Northern Trust Corp boosted its stake in Rexford Industrial Realty by 94.3% in the 4th quarter. Northern Trust Corp now owns 3,104,624 shares of the real estate investment trust's stock worth $120,025,000 after purchasing an additional 1,506,779 shares in the last quarter. Finally, Resolution Capital Ltd bought a new position in Rexford Industrial Realty in the 4th quarter worth about $52,025,000. 99.52% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. JPMorgan Chase & Co. lowered their price objective on shares of Rexford Industrial Realty from $44.00 to $37.00 and set a "neutral" rating on the stock in a research note on Thursday, April 24th. Robert W. Baird set a $43.00 price target on shares of Rexford Industrial Realty in a report on Tuesday, May 6th. Industrial Alliance Securities set a $38.00 target price on shares of Rexford Industrial Realty in a report on Tuesday, March 25th. Scotiabank lowered their price objective on Rexford Industrial Realty from $39.00 to $37.00 and set a "sector perform" rating for the company in a research note on Monday, May 12th. Finally, Barclays cut their price target on shares of Rexford Industrial Realty from $38.00 to $35.00 and set an "underweight" rating on the stock in a report on Wednesday, April 30th. Two analysts have rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $40.00.

Rexford Industrial Realty Stock Up 1.4%

NYSE:REXR traded up $0.52 during mid-day trading on Friday, reaching $36.07. The stock had a trading volume of 2,137,788 shares, compared to its average volume of 2,042,738. The company has a market capitalization of $8.54 billion, a price-to-earnings ratio of 29.81, a price-to-earnings-growth ratio of 2.62 and a beta of 1.14. Rexford Industrial Realty, Inc. has a 1-year low of $29.68 and a 1-year high of $52.61. The stock's 50 day simple moving average is $34.18 and its two-hundred day simple moving average is $38.02. 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 - Get Free Report) last announced its quarterly earnings results on Wednesday, April 16th. The real estate investment trust reported $0.62 EPS for the quarter, beating the consensus estimate of $0.57 by $0.05. Rexford Industrial Realty had a net margin of 29.10% and a return on equity of 3.26%. The company had revenue of $248.82 million for the quarter, compared to analyst estimates of $246.74 million. Equities analysts anticipate that Rexford Industrial Realty, Inc. will post 2.38 EPS for the current year.

Rexford Industrial Realty Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th will be issued a dividend of $0.43 per share. The ex-dividend date is Monday, June 30th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 4.77%. Rexford Industrial Realty's dividend payout ratio is 138.71%.

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.