IndexIQ Advisors LLC cut its stake in Rexford Industrial Realty Inc (NYSE:REXR) by 9.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 66,881 shares of the real estate investment trust’s stock after selling 7,042 shares during the quarter. IndexIQ Advisors LLC’s holdings in Rexford Industrial Realty were worth $2,395,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. California State Teachers Retirement System increased its holdings in Rexford Industrial Realty by 4.0% in the 4th quarter. California State Teachers Retirement System now owns 144,474 shares of the real estate investment trust’s stock valued at $4,258,000 after purchasing an additional 5,540 shares during the last quarter. Timbercreek Investment Management Inc. grew its stake in shares of Rexford Industrial Realty by 48.8% in the first quarter. Timbercreek Investment Management Inc. now owns 362,731 shares of the real estate investment trust’s stock worth $12,989,000 after acquiring an additional 119,031 shares in the last quarter. JPMorgan Chase & Co. grew its stake in shares of Rexford Industrial Realty by 115.1% in the third quarter. JPMorgan Chase & Co. now owns 2,617,974 shares of the real estate investment trust’s stock worth $83,671,000 after acquiring an additional 1,400,758 shares in the last quarter. United Services Automobile Association grew its stake in shares of Rexford Industrial Realty by 247.7% in the fourth quarter. United Services Automobile Association now owns 66,325 shares of the real estate investment trust’s stock worth $1,955,000 after acquiring an additional 47,249 shares in the last quarter. Finally, Norges Bank acquired a new position in shares of Rexford Industrial Realty in the fourth quarter worth $29,836,000. 97.50% of the stock is currently owned by hedge funds and other institutional investors.

In other news, General Counsel David E. Lanzer sold 5,085 shares of Rexford Industrial Realty stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $38.19, for a total transaction of $194,196.15. Following the completion of the sale, the general counsel now directly owns 5,718 shares of the company’s stock, valued at approximately $218,370.42. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 1.70% of the stock is currently owned by insiders.

Several equities analysts have commented on REXR shares. Zacks Investment Research downgraded shares of Rexford Industrial Realty from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 25th. Wells Fargo & Co boosted their price target on shares of Rexford Industrial Realty from $32.00 to $37.00 and gave the stock a “market perform” rating in a research note on Thursday, March 14th. They noted that the move was a valuation call. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $37.00.

NYSE:REXR opened at $38.01 on Thursday. The firm has a market capitalization of $3.94 billion, a price-to-earnings ratio of 33.94, a price-to-earnings-growth ratio of 4.17 and a beta of 0.87. Rexford Industrial Realty Inc has a 52 week low of $28.17 and a 52 week high of $39.21. The company has a debt-to-equity ratio of 0.38, a current ratio of 8.34 and a quick ratio of 8.34.

Rexford Industrial Realty (NYSE:REXR) last released its quarterly earnings data on Tuesday, April 30th. The real estate investment trust reported $0.08 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.28 by ($0.20). The firm had revenue of $60.36 million for the quarter, compared to analysts’ expectations of $60.05 million. Rexford Industrial Realty had a return on equity of 2.43% and a net margin of 18.77%. Rexford Industrial Realty’s revenue for the quarter was up 24.4% on a year-over-year basis. During the same period last year, the firm posted $0.27 earnings per share. On average, sell-side analysts anticipate that Rexford Industrial Realty Inc will post 1.2 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Friday, June 28th will be given a dividend of $0.185 per share. The ex-dividend date is Thursday, June 27th. This represents a $0.74 annualized dividend and a dividend yield of 1.95%. Rexford Industrial Realty’s dividend payout ratio (DPR) is currently 66.07%.

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Rexford Industrial Realty Profile

Rexford Industrial is a real estate investment trust focused on owning and operating industrial properties in Southern California infill markets. The Company owns 179 properties with approximately 22.1 million rentable square feet and manages an additional 20 properties with approximately 1.2 million rentable square feet.

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Institutional Ownership by Quarter for Rexford Industrial Realty (NYSE:REXR)

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