Wolverine Asset Management LLC recently disclosed in a Form 13F filing with the Securities & Exchange Commission that it has decreased its position in shares of Rexford Industrial Realty, Inc. by 35.4% in the fourth quarter. This move indicated that the fund is possibly selling off huge chunks of its holdings from this particular stock.
Their holdings of the real estate investment trust’s stock went down from 26,275 to 11,906 shares after selling 14,369 shares during the period. Their holdings in the company were worth $1,436,000 as of their most recent filing with the SEC. Wolverine Asset Management LLC has demonstrated a trend where they commonly sell at lower prices than what they initially bought them for.
In contrast to their strategy and tactics, Rexford Industrial Realty recently announced a dividend increase last April. The previous quarterly dividend of $0.32 was boosted up to $0.38 per share for shareholders on record on Friday, March 31st and an ex-dividend date of Thursday, March 30th. Furthermore, this increase led to an annualized basis dividend payout ratio (DPR) of 165.22% and represents a yield rate of 2.78%.
The company’s counsel David E. Lanzer has also caught attention due to his sale of almost $1 million worth of shares during a transaction on Tuesday, March 14th at an average price of $58.16 per share.
All eyes are currently scrutinizing these developments and how market dynamics will shift resultant thereof within or outside investors’ global portfolio strategies as they indirectly weigh between risk-minimization and value-maximization when making tradeoffs in portfolio management amidst such turbulent times.
Despite all these developments currently happening within or outside of Rexford Industrial Realty Inc., investors should consider taking advice from well-informed financial experts when deciding how best to manage their investment portfolios efficiently and within their risk limits. This information should come from a wide range of diverse sources that will provide them with varied viewpoints along with the latest insights and trends to help them make informed choices.
Rexford Industrial Realty Gains Attention from Hedge Funds and Analysts Alike
The real estate investment trust, Rexford Industrial Realty, is making noise in the market as several hedge funds and institutional investors made changes to their positions in the company. Cohen & Steers Inc., Daiwa Securities Group Inc., PGGM Investments, Vanguard Group Inc., and State Street Corp all made significant moves relating to Rexford Industrial Realty’s stock over different periods. Hedge funds and other institutional investors own 98.77% of the company’s shares.
Rexford Industrial Realty has now piqued the interest of equities analysts who have weighed in on the company’s standing in the market. StockNews.com recently gave a “sell” rating for the company while BMO Capital Markets handed over an “outperform” rating accompanied by a $77.00 price target for the stock.
According to data from Bloomberg, Rexford Industrial Realty currently holds a “Hold” consensus rating with an average valuation of $69.33.
On the floor of NYSE at opening on Tuesday, Rexford Industrial Realty traded at $54.61 — a far cry from its 52-week high of $84.68 but significantly better than its 52-week low of $48.74.
The company currently has a market capitalization of $10.74 billion with a PE ratio of 59.36 and a price-to-earnings-growth ratio of 3.21 beta.
As Rexford Industrial Realty continues to make strides in the market, it remains to be seen whether it will continue its upward trend or slump in performance as seen by recent ratings given to it by some equity analysts.