Whittier Trust Co. of Nevada Inc. Boosts Stake in Rexford Industrial Realty, Inc. (NYSE:REXR)

Whittier Trust Co. of Nevada Inc. increased its holdings in Rexford Industrial Realty, Inc. (NYSE:REXR - Free Report) by 7,979.9% in the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 120,390 shares of the real estate investment trust's stock after acquiring an additional 118,900 shares during the period. Whittier Trust Co. of Nevada Inc. owned approximately 0.05% of Rexford Industrial Realty worth $4,712,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the company. Utah Retirement Systems lifted its stake in Rexford Industrial Realty by 0.8% during the fourth quarter. Utah Retirement Systems now owns 36,000 shares of the real estate investment trust's stock worth $1,392,000 after purchasing an additional 300 shares in the last quarter. M&T Bank Corp lifted its stake in Rexford Industrial Realty by 1.2% during the first quarter. M&T Bank Corp now owns 26,857 shares of the real estate investment trust's stock worth $1,052,000 after purchasing an additional 317 shares in the last quarter. Private Trust Co. NA lifted its stake in Rexford Industrial Realty by 95.6% during the first quarter. Private Trust Co. NA now owns 757 shares of the real estate investment trust's stock worth $30,000 after purchasing an additional 370 shares in the last quarter. Bessemer Group Inc. boosted its holdings in Rexford Industrial Realty by 118.4% in the first quarter. Bessemer Group Inc. now owns 747 shares of the real estate investment trust's stock valued at $29,000 after purchasing an additional 405 shares during the period. Finally, Quarry LP boosted its holdings in Rexford Industrial Realty by 18.3% in the fourth quarter. Quarry LP now owns 3,135 shares of the real estate investment trust's stock valued at $121,000 after purchasing an additional 486 shares during the period. 99.52% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

REXR has been the subject of a number of recent research reports. Industrial Alliance Securities set a $38.00 target price on Rexford Industrial Realty in a report on Tuesday, March 25th. JPMorgan Chase & Co. decreased their target price on Rexford Industrial Realty from $44.00 to $37.00 and set a "neutral" rating for the company in a report on Thursday, April 24th. Wells Fargo & Company decreased their target price on Rexford Industrial Realty from $45.00 to $39.00 and set an "overweight" rating for the company in a report on Monday, May 19th. Evercore ISI downgraded Rexford Industrial Realty from an "outperform" rating to an "in-line" rating and decreased their price target for the stock from $39.00 to $38.00 in a report on Friday. Finally, Barclays decreased their price target on Rexford Industrial Realty from $38.00 to $35.00 and set an "underweight" rating for the company in a report on Wednesday, April 30th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, Rexford Industrial Realty has a consensus rating of "Hold" and an average target price of $39.82.

Rexford Industrial Realty Stock Performance

Shares of REXR traded up $1.13 during midday trading on Friday, reaching $36.56. 4,691,011 shares of the stock were exchanged, compared to its average volume of 2,231,457. The business's 50-day moving average price is $36.10 and its 200 day moving average price is $37.28. The company has a debt-to-equity ratio of 0.37, a current ratio of 5.59 and a quick ratio of 4.90. Rexford Industrial Realty, Inc. has a twelve month low of $29.68 and a twelve month high of $52.61. The company has a market capitalization of $8.65 billion, a price-to-earnings ratio of 27.08, a PEG ratio of 3.25 and a beta of 1.13.

Rexford Industrial Realty (NYSE:REXR - Get Free Report) last issued its quarterly earnings results on Wednesday, July 16th. The real estate investment trust reported $0.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.58 by $0.01. Rexford Industrial Realty had a return on equity of 3.62% and a net margin of 32.04%. The firm had revenue of $241.57 million for the quarter, compared to analysts' expectations of $251.72 million. During the same quarter in the previous year, the firm posted $0.60 EPS. The firm's revenue for the quarter was up 5.0% on a year-over-year basis. On average, sell-side analysts expect that Rexford Industrial Realty, Inc. will post 2.38 EPS for the current fiscal year.

Rexford Industrial Realty Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th will be issued a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a dividend yield of 4.70%. The ex-dividend date of this dividend is Tuesday, September 30th. Rexford Industrial Realty's dividend payout ratio is currently 127.41%.

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.