Natixis Advisors L.P. grew its position in Rexford Industrial Realty, Inc. (NYSE:REXR – Free Report) by 19.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 59,604 shares of the real estate investment trust’s stock after purchasing an additional 9,801 shares during the quarter. Natixis Advisors L.P.’s holdings in Rexford Industrial Realty were worth $3,556,000 as of its most recent SEC filing.
Other large investors also recently made changes to their positions in the company. American Century Companies Inc. increased its position in Rexford Industrial Realty by 16.7% during the first quarter. American Century Companies Inc. now owns 1,765,943 shares of the real estate investment trust’s stock worth $105,338,000 after acquiring an additional 253,258 shares during the period. Envestnet Asset Management Inc. boosted its stake in shares of Rexford Industrial Realty by 8.2% in the first quarter. Envestnet Asset Management Inc. now owns 95,306 shares of the real estate investment trust’s stock valued at $5,685,000 after buying an additional 7,237 shares during the period. M&G Investment Management Ltd. acquired a new stake in Rexford Industrial Realty during the first quarter worth approximately $10,436,000. Rhumbline Advisers increased its stake in Rexford Industrial Realty by 4.4% during the 1st quarter. Rhumbline Advisers now owns 630,506 shares of the real estate investment trust’s stock worth $37,610,000 after acquiring an additional 26,577 shares during the period. Finally, Cambria Investment Management L.P. raised its holdings in Rexford Industrial Realty by 16.7% in the 1st quarter. Cambria Investment Management L.P. now owns 6,300 shares of the real estate investment trust’s stock valued at $376,000 after acquiring an additional 900 shares in the last quarter. Institutional investors own 99.52% of the company’s stock.
Analyst Upgrades and Downgrades
A number of brokerages recently commented on REXR. Citigroup cut Rexford Industrial Realty from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $66.00 to $53.00 in a research report on Monday, June 12th. StockNews.com initiated coverage on shares of Rexford Industrial Realty in a research report on Thursday, August 17th. They issued a “sell” rating for the company. BMO Capital Markets lowered shares of Rexford Industrial Realty from an “outperform” rating to a “market perform” rating and reduced their price target for the stock from $69.00 to $56.00 in a research report on Monday, June 12th. Finally, Mizuho initiated coverage on shares of Rexford Industrial Realty in a research report on Wednesday, June 28th. They set a “neutral” rating and a $52.00 price objective for the company. One analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $60.67.
Insider Transactions at Rexford Industrial Realty
In related news, CFO Laura E. Clark sold 7,410 shares of Rexford Industrial Realty stock in a transaction that occurred on Friday, July 28th. The shares were sold at an average price of $54.48, for a total transaction of $403,696.80. Following the sale, the chief financial officer now directly owns 2,562 shares in the company, valued at approximately $139,577.76. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 1.10% of the company’s stock.
Rexford Industrial Realty Price Performance
REXR stock opened at $53.49 on Friday. The stock has a market cap of $11.04 billion, a price-to-earnings ratio of 54.03, a P/E/G ratio of 2.12 and a beta of 0.83. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.37 and a quick ratio of 1.37. The company has a 50 day simple moving average of $53.26 and a 200 day simple moving average of $55.31. Rexford Industrial Realty, Inc. has a 1 year low of $48.74 and a 1 year high of $66.71.
Rexford Industrial Realty (NYSE:REXR – Get Free Report) last announced its quarterly earnings results on Wednesday, July 19th. The real estate investment trust reported $0.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.54 by ($0.28). Rexford Industrial Realty had a return on equity of 2.82% and a net margin of 27.23%. The company had revenue of $195.80 million for the quarter, compared to analyst estimates of $196.92 million. During the same quarter last year, the company posted $0.49 earnings per share. The firm’s quarterly revenue was up 31.3% on a year-over-year basis. Research analysts anticipate that Rexford Industrial Realty, Inc. will post 2.19 EPS for the current fiscal year.
Rexford Industrial Realty Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Monday, October 16th. Stockholders of record on Friday, September 29th will be paid a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.84%. The ex-dividend date of this dividend is Thursday, September 28th. Rexford Industrial Realty’s payout ratio is 153.54%.
About Rexford Industrial Realty
Rexford Industrial creates value by investing in, operating and redeveloping industrial properties throughout infill Southern California, the world's fourth largest industrial market and consistently the highest-demand with lowest-supply major market in the nation. The Company's highly differentiated strategy enables internal and external growth opportunities through its proprietary value creation and asset management capabilities.
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