Pendal Group Ltd Cuts Stake in Rexford Industrial Realty Inc (NYSE:REXR)
Pendal Group Ltd cut its stake in Rexford Industrial Realty Inc (NYSE:REXR) by 11.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 67,300 shares of the real estate investment trust’s stock after selling 8,700 shares during the quarter. Pendal Group Ltd owned about 0.06% of Rexford Industrial Realty worth $3,074,000 at the end of the most recent quarter.
A number of other large investors also recently added to or reduced their stakes in REXR. New York State Teachers Retirement System purchased a new stake in shares of Rexford Industrial Realty during the third quarter worth about $40,000. Duncker Streett & Co. Inc. purchased a new stake in shares of Rexford Industrial Realty during the fourth quarter worth about $46,000. DekaBank Deutsche Girozentrale purchased a new stake in shares of Rexford Industrial Realty during the fourth quarter worth about $101,000. NEXT Financial Group Inc increased its position in shares of Rexford Industrial Realty by 55.4% during the third quarter. NEXT Financial Group Inc now owns 3,859 shares of the real estate investment trust’s stock worth $170,000 after acquiring an additional 1,376 shares during the last quarter. Finally, Ninepoint Partners LP purchased a new stake in shares of Rexford Industrial Realty during the third quarter worth about $177,000.
A number of brokerages have recently issued reports on REXR. JPMorgan Chase & Co. lifted their target price on Rexford Industrial Realty from $43.00 to $47.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 3rd. Zacks Investment Research lowered Rexford Industrial Realty from a “buy” rating to a “hold” rating in a research report on Thursday, January 23rd. Five research analysts have rated the stock with a hold rating and one has given a buy rating to the company. Rexford Industrial Realty currently has an average rating of “Hold” and an average target price of $45.60.
Rexford Industrial Realty (NYSE:REXR) last posted its quarterly earnings results on Tuesday, February 11th. The real estate investment trust reported $0.18 EPS for the quarter, missing the Zacks’ consensus estimate of $0.31 by ($0.13). The firm had revenue of $74.40 million during the quarter, compared to analyst estimates of $71.31 million. Rexford Industrial Realty had a return on equity of 2.61% and a net margin of 21.32%. Sell-side analysts anticipate that Rexford Industrial Realty Inc will post 1.22 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 15th. Investors of record on Tuesday, March 31st will be paid a $0.215 dividend. This represents a $0.86 dividend on an annualized basis and a yield of 1.63%. This is an increase from Rexford Industrial Realty’s previous quarterly dividend of $0.19. The ex-dividend date of this dividend is Monday, March 30th. Rexford Industrial Realty’s dividend payout ratio (DPR) is 66.07%.
About Rexford Industrial Realty
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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