Choreo LLC Has $420,000 Stock Position in Rexford Industrial Realty, Inc. (NYSE:REXR)

Choreo LLC lessened its holdings in shares of Rexford Industrial Realty, Inc. (NYSE:REXR) by 25.5% during the 4th quarter, HoldingsChannel reports. The fund owned 10,853 shares of the real estate investment trust’s stock after selling 3,718 shares during the period. Choreo LLC’s holdings in Rexford Industrial Realty were worth $420,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Rexford Industrial Realty by 338.0% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,930,706 shares of the real estate investment trust’s stock valued at $97,134,000 after purchasing an additional 1,489,876 shares in the last quarter. JPMorgan Chase & Co. increased its stake in shares of Rexford Industrial Realty by 26.9% in the third quarter. JPMorgan Chase & Co. now owns 4,503,571 shares of the real estate investment trust’s stock worth $226,575,000 after acquiring an additional 954,202 shares during the last quarter. Massachusetts Financial Services Co. MA raised its holdings in shares of Rexford Industrial Realty by 14.8% during the third quarter. Massachusetts Financial Services Co. MA now owns 3,339,219 shares of the real estate investment trust’s stock worth $167,996,000 after acquiring an additional 431,659 shares in the last quarter. Brookfield Corp ON purchased a new position in Rexford Industrial Realty in the third quarter valued at about $13,838,000. Finally, Daiwa Securities Group Inc. increased its position in Rexford Industrial Realty by 19.6% in the 3rd quarter. Daiwa Securities Group Inc. now owns 1,448,419 shares of the real estate investment trust’s stock worth $72,870,000 after purchasing an additional 237,624 shares during the last quarter. Institutional investors and hedge funds own 99.52% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently commented on REXR. Bank of America cut Rexford Industrial Realty from a “buy” rating to a “neutral” rating and lowered their price target for the company from $66.00 to $49.00 in a research note on Monday, October 21st. Mizuho reduced their price objective on shares of Rexford Industrial Realty from $46.00 to $45.00 and set a “neutral” rating for the company in a research note on Wednesday, January 8th. Deutsche Bank Aktiengesellschaft initiated coverage on Rexford Industrial Realty in a report on Tuesday, January 14th. They set a “hold” rating and a $40.00 target price on the stock. StockNews.com downgraded Rexford Industrial Realty from a “hold” rating to a “sell” rating in a research note on Monday, October 21st. Finally, Barclays reduced their target price on Rexford Industrial Realty from $44.00 to $41.00 and set an “underweight” rating for the company in a report on Monday, January 13th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $49.42.

Rexford Industrial Realty Stock Performance

NYSE:REXR opened at $40.01 on Thursday. The firm’s 50-day moving average is $39.60 and its 200-day moving average is $44.64. The company has a market cap of $8.90 billion, a price-to-earnings ratio of 33.07, a PEG ratio of 2.28 and a beta of 0.95. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.20 and a current ratio of 1.30. Rexford Industrial Realty, Inc. has a 52-week low of $36.92 and a 52-week high of $53.88.

Rexford Industrial Realty (NYSE:REXR) last posted its quarterly earnings results on Wednesday, February 5th. The real estate investment trust reported $0.58 EPS 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%. Equities research analysts anticipate that Rexford Industrial Realty, Inc. will post 2.39 earnings per share for the current year.

Rexford Industrial Realty Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be paid a dividend of $0.43 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $1.72 dividend on an annualized basis and a yield of 4.30%. This is an increase from Rexford Industrial Realty’s previous quarterly dividend of $0.42. Rexford Industrial Realty’s payout ratio is currently 138.02%.

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.