Thrivent Financial for Lutherans Acquires 119,962 Shares of Rexford Industrial Realty, Inc. (NYSE:REXR)

Thrivent Financial for Lutherans increased its stake in Rexford Industrial Realty, Inc. (NYSE:REXR) by 44.4% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 390,126 shares of the real estate investment trust’s stock after acquiring an additional 119,962 shares during the quarter. Thrivent Financial for Lutherans owned 0.18% of Rexford Industrial Realty worth $15,082,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the stock. UMB Bank n.a. increased its stake in Rexford Industrial Realty by 38.9% in the fourth quarter. UMB Bank n.a. now owns 999 shares of the real estate investment trust’s stock valued at $39,000 after purchasing an additional 280 shares in the last quarter. IHT Wealth Management LLC increased its position in Rexford Industrial Realty by 4.8% in the 3rd quarter. IHT Wealth Management LLC now owns 6,451 shares of the real estate investment trust’s stock valued at $325,000 after buying an additional 296 shares in the last quarter. CIBC Asset Management Inc raised its stake in Rexford Industrial Realty by 5.7% during the 4th quarter. CIBC Asset Management Inc now owns 6,572 shares of the real estate investment trust’s stock worth $254,000 after buying an additional 355 shares during the period. Exchange Traded Concepts LLC boosted its holdings in Rexford Industrial Realty by 13.2% in the fourth quarter. Exchange Traded Concepts LLC now owns 3,172 shares of the real estate investment trust’s stock worth $123,000 after acquiring an additional 371 shares in the last quarter. Finally, M&T Bank Corp grew its stake in Rexford Industrial Realty by 1.5% in the third quarter. M&T Bank Corp now owns 29,225 shares of the real estate investment trust’s stock valued at $1,470,000 after acquiring an additional 442 shares during the period. Institutional investors and hedge funds own 99.52% of the company’s stock.

Rexford Industrial Realty Trading Down 3.4 %

Shares of Rexford Industrial Realty stock opened at $39.00 on Friday. The firm has a market cap of $8.89 billion, a PE ratio of 32.23, a P/E/G ratio of 2.62 and a beta of 0.98. Rexford Industrial Realty, Inc. has a 1 year low of $36.92 and a 1 year high of $52.61. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.30 and a quick ratio of 1.30. The stock has a fifty day moving average price of $40.27 and a 200-day moving average price of $42.83.

Rexford Industrial Realty (NYSE:REXR) last posted its quarterly earnings data on Wednesday, February 5th. The real estate investment trust reported $0.58 earnings per share (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 anticipate that Rexford Industrial Realty, Inc. will post 2.38 EPS for the current year.

Rexford Industrial Realty Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be paid a $0.43 dividend. This is an increase from Rexford Industrial Realty’s previous quarterly dividend of $0.42. The ex-dividend date of this dividend is Monday, March 31st. This represents a $1.72 annualized dividend and a yield of 4.41%. Rexford Industrial Realty’s dividend payout ratio is presently 142.15%.

Analysts Set New Price Targets

REXR has been the topic of a number of research reports. JPMorgan Chase & Co. lowered their target price on Rexford Industrial Realty from $45.00 to $44.00 and set a “neutral” rating on the stock in a research report on Thursday, February 13th. Scotiabank decreased their target price on shares of Rexford Industrial Realty from $48.00 to $47.00 and set a “sector perform” rating for the company in a research report on Friday, February 28th. Robert W. Baird cut their price target 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. Deutsche Bank Aktiengesellschaft assumed coverage on Rexford Industrial Realty in a report on Tuesday, January 14th. They set a “hold” rating and a $40.00 price objective for the company. Finally, Barclays dropped their target price on Rexford Industrial Realty from $44.00 to $41.00 and set an “underweight” rating on the stock in a report on Monday, January 13th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the company. According to MarketBeat, Rexford Industrial Realty currently has a consensus rating of “Hold” and an average price target of $48.50.

About Rexford Industrial Realty

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.