Federated Hermes Inc. Sells 5,025 Shares of Rexford Industrial Realty, Inc. (NYSE:REXR)

Federated Hermes Inc. cut its holdings in shares of Rexford Industrial Realty, Inc. (NYSE:REXR) by 21.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 17,909 shares of the real estate investment trust’s stock after selling 5,025 shares during the quarter. Federated Hermes Inc.’s holdings in Rexford Industrial Realty were worth $692,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in REXR. Sun Life Financial Inc. raised its position in shares of Rexford Industrial Realty by 7.3% in the fourth quarter. Sun Life Financial Inc. now owns 160,448 shares of the real estate investment trust’s stock valued at $6,203,000 after purchasing an additional 10,870 shares during the period. Pilgrim Partners Asia Pte Ltd acquired a new position in Rexford Industrial Realty in the 4th quarter valued at about $65,000. Resona Asset Management Co. Ltd. bought a new position in Rexford Industrial Realty in the 4th quarter valued at about $3,419,000. Landscape Capital Management L.L.C. lifted its position in Rexford Industrial Realty by 16.2% during the fourth quarter. Landscape Capital Management L.L.C. now owns 5,382 shares of the real estate investment trust’s stock worth $208,000 after acquiring an additional 750 shares during the last quarter. Finally, Centersquare Investment Management LLC boosted its holdings in shares of Rexford Industrial Realty by 32.3% during the fourth quarter. Centersquare Investment Management LLC now owns 4,492,166 shares of the real estate investment trust’s stock worth $173,667,000 after acquiring an additional 1,097,349 shares during the period. Institutional investors own 99.52% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on REXR shares. Mizuho lowered their target price on Rexford Industrial Realty from $46.00 to $45.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 8th. Robert W. Baird lowered their price objective on Rexford Industrial Realty from $48.00 to $47.00 and set a “neutral” rating on the stock in a research report on Tuesday, March 4th. Scotiabank dropped their target price on Rexford Industrial Realty from $47.00 to $39.00 and set a “sector perform” rating for the company in a report on Monday, April 7th. JPMorgan Chase & Co. decreased their price target on shares of 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. Finally, Industrial Alliance Securities set a $38.00 price objective on shares of Rexford Industrial Realty in a research note on Tuesday, March 25th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $46.17.

Rexford Industrial Realty Stock Performance

Shares of Rexford Industrial Realty stock opened at $32.68 on Thursday. 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 $7.45 billion, a PE ratio of 27.01, a price-to-earnings-growth ratio of 2.62 and a beta of 0.99. The company has a 50 day moving average of $38.52 and a 200-day moving average of $40.81. 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) last released its earnings results on Wednesday, February 5th. The real estate investment trust reported $0.58 earnings per share for the quarter, topping 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%. As a group, equities research analysts forecast 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 announced a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were given a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a yield of 5.26%. The ex-dividend date was Monday, March 31st. This is a boost from Rexford Industrial Realty’s previous quarterly dividend of $0.42. Rexford Industrial Realty’s payout ratio is currently 142.15%.

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.