JLP Asset Management LLC Sells 103,700 Shares of Rexford Industrial Realty, Inc. (NYSE:REXR)

JLP Asset Management LLC cut its position in shares of Rexford Industrial Realty, Inc. (NYSE:REXR - Free Report) by 63.3% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 60,200 shares of the real estate investment trust's stock after selling 103,700 shares during the period. Rexford Industrial Realty comprises 4.0% of JLP Asset Management LLC's portfolio, making the stock its 8th biggest position. JLP Asset Management LLC's holdings in Rexford Industrial Realty were worth $3,377,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Quarry LP bought a new position in shares of Rexford Industrial Realty in the 2nd quarter worth $28,000. Quent Capital LLC raised its position in shares of Rexford Industrial Realty by 594.4% in the 3rd quarter. Quent Capital LLC now owns 743 shares of the real estate investment trust's stock worth $37,000 after acquiring an additional 636 shares in the last quarter. Fifth Third Bancorp raised its position in shares of Rexford Industrial Realty by 58.2% in the 3rd quarter. Fifth Third Bancorp now owns 1,117 shares of the real estate investment trust's stock worth $55,000 after acquiring an additional 411 shares in the last quarter. Belpointe Asset Management LLC raised its position in shares of Rexford Industrial Realty by 112.7% in the 1st quarter. Belpointe Asset Management LLC now owns 1,176 shares of the real estate investment trust's stock worth $70,000 after acquiring an additional 623 shares in the last quarter. Finally, Ninepoint Partners LP bought a new position in shares of Rexford Industrial Realty in the 3rd quarter worth $108,000. 99.52% of the stock is owned by institutional investors.

Insider Buying and Selling at Rexford Industrial Realty

In other news, General Counsel David E. Lanzer sold 18,113 shares of Rexford Industrial Realty stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $52.69, for a total transaction of $954,373.97. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 1.10% of the stock is owned by insiders.

Analyst Ratings Changes

Several research analysts recently weighed in on the company. JPMorgan Chase & Co. downgraded Rexford Industrial Realty from an "overweight" rating to a "neutral" rating and set a $55.00 price target on the stock. in a research note on Wednesday, February 7th. TheStreet upgraded Rexford Industrial Realty from a "c+" rating to a "b-" rating in a research note on Thursday, February 1st. Barclays started coverage on Rexford Industrial Realty in a research note on Wednesday, March 27th. They set an "underweight" rating and a $45.00 price target on the stock. Robert W. Baird restated a "neutral" rating and issued a $61.00 target price (up previously from $53.00) on shares of Rexford Industrial Realty in a research note on Friday, January 5th. Finally, Mizuho restated a "neutral" rating and issued a $52.00 target price on shares of Rexford Industrial Realty in a research note on Tuesday, April 2nd. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat, Rexford Industrial Realty has an average rating of "Hold" and a consensus target price of $56.00.

Rexford Industrial Realty Stock Up 0.8 %

Shares of NYSE REXR traded up $0.37 during mid-day trading on Monday, hitting $48.98. The company had a trading volume of 1,522,295 shares, compared to its average volume of 1,733,681. The company has a market capitalization of $10.54 billion, a PE ratio of 43.73, a price-to-earnings-growth ratio of 2.23 and a beta of 0.86. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.35 and a quick ratio of 1.35. Rexford Industrial Realty, Inc. has a 1-year low of $41.56 and a 1-year high of $58.51. The business's 50-day simple moving average is $51.57 and its 200 day simple moving average is $50.87.

Rexford Industrial Realty Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 15th. Shareholders of record on Thursday, March 28th will be paid a $0.4175 dividend. The ex-dividend date of this dividend is Wednesday, March 27th. This is a boost from Rexford Industrial Realty's previous quarterly dividend of $0.38. This represents a $1.67 dividend on an annualized basis and a yield of 3.41%. Rexford Industrial Realty's dividend payout ratio (DPR) is currently 149.11%.

Rexford Industrial Realty Profile

Rexford Industrial creates value by investing in, operating and redeveloping industrial properties throughout infill Southern California, the world's fourth largest industrial market and consistently the highest-demand with lowest-supply major market in the nation. The Company's highly differentiated strategy enables internal and external growth opportunities through its proprietary value creation and asset management capabilities.