Bank of Montreal Can Lowers Stake in Rexford Industrial Realty, Inc. (NYSE:REXR)

Bank of Montreal Can trimmed its holdings in Rexford Industrial Realty, Inc. (NYSE:REXR) by 27.0% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 52,847 shares of the real estate investment trust’s stock after selling 19,569 shares during the quarter. Bank of Montreal Can’s holdings in Rexford Industrial Realty were worth $2,043,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in REXR. Quantbot Technologies LP purchased a new stake in Rexford Industrial Realty during the 4th quarter valued at approximately $33,000. UMB Bank n.a. lifted its stake in shares of Rexford Industrial Realty by 38.9% in the 4th quarter. UMB Bank n.a. now owns 999 shares of the real estate investment trust’s stock worth $39,000 after acquiring an additional 280 shares during the period. Whittier Trust Co. of Nevada Inc. boosted its holdings in Rexford Industrial Realty by 515.7% in the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 1,490 shares of the real estate investment trust’s stock valued at $58,000 after purchasing an additional 1,248 shares in the last quarter. Pilgrim Partners Asia Pte Ltd purchased a new stake in shares of Rexford Industrial Realty in the fourth quarter valued at approximately $65,000. Finally, SRS Capital Advisors Inc. lifted its holdings in Rexford Industrial Realty by 4,104.5% in the fourth quarter. SRS Capital Advisors Inc. now owns 2,775 shares of the real estate investment trust’s stock valued at $107,000 after acquiring an additional 2,709 shares during the period. Institutional investors and hedge funds own 99.52% of the company’s stock.

Rexford Industrial Realty Trading Up 0.4 %

Rexford Industrial Realty stock opened at $32.68 on Thursday. The stock has a 50-day moving average price of $38.52 and a 200 day moving average price of $40.81. Rexford Industrial Realty, Inc. has a 52 week low of $29.68 and a 52 week high of $52.61. The stock has a market cap of $7.45 billion, a PE ratio of 27.01, a P/E/G ratio of 2.62 and a beta of 0.99. The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 0.39.

Rexford Industrial Realty (NYSE:REXR) last issued its quarterly earnings results on Wednesday, February 5th. The real estate investment trust reported $0.58 EPS for the quarter, topping analysts’ consensus estimates of $0.27 by $0.31. Rexford Industrial Realty had a net margin of 29.10% and a return on equity of 3.26%. Equities research analysts predict that Rexford Industrial Realty, Inc. will post 2.38 earnings per share for the current fiscal year.

Rexford Industrial Realty Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were issued a $0.43 dividend. The ex-dividend date of this dividend was Monday, March 31st. This is an increase from Rexford Industrial Realty’s previous quarterly dividend of $0.42. This represents a $1.72 annualized dividend and a yield of 5.26%. Rexford Industrial Realty’s payout ratio is 142.15%.

Analyst Upgrades and Downgrades

REXR has been the subject of a number of research analyst reports. Barclays cut their price target on shares of Rexford Industrial Realty from $41.00 to $38.00 and set an “underweight” rating for the company in a report on Tuesday, March 25th. JPMorgan Chase & Co. decreased their price target on Rexford Industrial Realty from $45.00 to $44.00 and set a “neutral” rating on the stock in a research note on Thursday, February 13th. Robert W. Baird dropped their price objective on Rexford Industrial Realty from $48.00 to $47.00 and set a “neutral” rating for the company in a research note on Tuesday, March 4th. Scotiabank decreased their target price on 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. Finally, Industrial Alliance Securities set a $38.00 price target on Rexford Industrial Realty in a research report on Tuesday, March 25th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $46.17.

Rexford Industrial Realty Company 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.