Northern Trust Corp Boosts Holdings in Rexford Industrial Realty, Inc. (NYSE:REXR)

Northern Trust Corp raised its position in Rexford Industrial Realty, Inc. (NYSE:REXR - Free Report) by 94.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,104,624 shares of the real estate investment trust's stock after buying an additional 1,506,779 shares during the quarter. Northern Trust Corp owned about 1.40% of Rexford Industrial Realty worth $120,025,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Paradigm Asset Management Co. LLC bought a new stake in shares of Rexford Industrial Realty during the 4th quarter valued at approximately $1,082,000. Charles Schwab Investment Management Inc. grew its stake in shares of Rexford Industrial Realty by 3.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,782,904 shares of the real estate investment trust's stock worth $107,587,000 after buying an additional 93,360 shares during the last quarter. Impax Asset Management Group plc increased its holdings in shares of Rexford Industrial Realty by 63.6% during the fourth quarter. Impax Asset Management Group plc now owns 21,691 shares of the real estate investment trust's stock worth $839,000 after buying an additional 8,431 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in shares of 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 valued at $226,575,000 after acquiring an additional 954,202 shares during the last quarter. Finally, Rothschild Investment LLC boosted its holdings in shares of Rexford Industrial Realty by 760,280.0% during the 4th quarter. Rothschild Investment LLC now owns 38,019 shares of the real estate investment trust's stock valued at $1,470,000 after acquiring an additional 38,014 shares in the last quarter. Institutional investors own 99.52% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have commented on REXR shares. Deutsche Bank Aktiengesellschaft began coverage on Rexford Industrial Realty in a research report on Tuesday, January 14th. They issued a "hold" rating and a $40.00 target price for the company. Scotiabank cut their target price on shares of Rexford Industrial Realty from $47.00 to $39.00 and set a "sector perform" rating on the stock in a research report on Monday, April 7th. JPMorgan Chase & Co. decreased their price target on shares of Rexford Industrial Realty from $44.00 to $37.00 and set a "neutral" rating for the company in a research report on Thursday, April 24th. Evercore ISI cut their price target on shares of Rexford Industrial Realty from $43.00 to $40.00 and set an "outperform" rating on the stock in a report on Monday, April 21st. Finally, Robert W. Baird set a $43.00 price objective on Rexford Industrial Realty in a report on Tuesday. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Rexford Industrial Realty has a consensus rating of "Hold" and a consensus target price of $42.18.

Rexford Industrial Realty Price Performance

Shares of Rexford Industrial Realty stock traded up $0.33 on Friday, reaching $34.18. The stock had a trading volume of 518,760 shares, compared to its average volume of 1,913,493. The business's 50 day moving average is $36.15 and its two-hundred day moving average is $39.22. 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 company has a market cap of $8.09 billion, a P/E ratio of 28.25, a price-to-earnings-growth ratio of 2.62 and a beta of 1.12. Rexford Industrial Realty, Inc. has a 1 year low of $29.68 and a 1 year high of $52.61.

Rexford Industrial Realty (NYSE:REXR - Get Free Report) last announced its earnings results on Wednesday, April 16th. The real estate investment trust reported $0.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.05. The business had revenue of $248.82 million during the quarter, compared to analyst estimates of $246.74 million. Rexford Industrial Realty had a net margin of 29.10% and a return on equity of 3.26%. As a group, research analysts anticipate that Rexford Industrial Realty, Inc. will post 2.38 EPS for the current year.

Rexford Industrial Realty Announces Dividend

The company also recently announced 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 of this dividend is Monday, June 30th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 5.03%. Rexford Industrial Realty's dividend payout ratio is currently 138.71%.

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.