Pacer Advisors Inc. raised its position in Rexford Industrial Realty Inc (NYSE:REXR) by 66.3% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 24,296 shares of the real estate investment trust’s stock after buying an additional 9,687 shares during the period. Pacer Advisors Inc.’s holdings in Rexford Industrial Realty were worth $1,070,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. AQR Capital Management LLC lifted its position in Rexford Industrial Realty by 0.9% in the second quarter. AQR Capital Management LLC now owns 31,976 shares of the real estate investment trust’s stock valued at $1,291,000 after acquiring an additional 293 shares during the last quarter. Advisor Group Inc. increased its stake in Rexford Industrial Realty by 4.0% in the second quarter. Advisor Group Inc. now owns 9,897 shares of the real estate investment trust’s stock valued at $399,000 after purchasing an additional 379 shares during the period. Ladenburg Thalmann Financial Services Inc. increased its stake in Rexford Industrial Realty by 7.5% in the second quarter. Ladenburg Thalmann Financial Services Inc. now owns 5,419 shares of the real estate investment trust’s stock valued at $219,000 after purchasing an additional 380 shares during the period. Assetmark Inc. increased its stake in shares of Rexford Industrial Realty by 9.2% during the second quarter. Assetmark Inc. now owns 4,909 shares of the real estate investment trust’s stock worth $198,000 after acquiring an additional 415 shares during the period. Finally, Allianz Asset Management GmbH increased its stake in shares of Rexford Industrial Realty by 0.3% during the second quarter. Allianz Asset Management GmbH now owns 215,025 shares of the real estate investment trust’s stock worth $8,680,000 after acquiring an additional 595 shares during the period. 99.10% of the stock is owned by institutional investors.
A number of brokerages have recently issued reports on REXR. Zacks Investment Research lowered shares of Rexford Industrial Realty from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 22nd. Stifel Nicolaus boosted their price target on shares of Rexford Industrial Realty from $41.00 to $46.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. ValuEngine lowered shares of Rexford Industrial Realty from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. Finally, Citigroup upped their target price on shares of Rexford Industrial Realty from $42.00 to $47.00 and gave the stock a “neutral” rating in a research report on Monday, September 23rd. Five investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $45.00.
REXR stock traded up $0.08 on Friday, hitting $46.26. 288,481 shares of the company were exchanged, compared to its average volume of 703,803. Rexford Industrial Realty Inc has a twelve month low of $28.17 and a twelve month high of $48.80. The company has a debt-to-equity ratio of 0.38, a current ratio of 5.82 and a quick ratio of 7.17. The business’s fifty day moving average is $45.71 and its two-hundred day moving average is $41.94. The stock has a market capitalization of $5.16 billion, a price-to-earnings ratio of 41.30, a price-to-earnings-growth ratio of 5.41 and a beta of 0.77.
Rexford Industrial Realty (NYSE:REXR) last issued its quarterly earnings results on Tuesday, October 29th. The real estate investment trust reported $0.31 EPS for the quarter, topping the consensus estimate of $0.30 by $0.01. Rexford Industrial Realty had a net margin of 21.32% and a return on equity of 2.61%. The firm had revenue of $68.06 million during the quarter, compared to analyst estimates of $67.50 million. During the same quarter in the prior year, the business posted $0.28 earnings per share. Rexford Industrial Realty’s revenue for the quarter was up 23.3% compared to the same quarter last year. Equities research analysts expect that Rexford Industrial Realty Inc will post 1.22 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be given a $0.185 dividend. This represents a $0.74 annualized dividend and a dividend yield of 1.60%. The ex-dividend date of this dividend is Monday, December 30th. Rexford Industrial Realty’s payout ratio is currently 66.07%.
In other Rexford Industrial Realty news, CFO Adeel Khan sold 49,721 shares of the stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $46.01, for a total transaction of $2,287,663.21. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Michael S. Frankel sold 12,536 shares of the firm’s stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $47.46, for a total transaction of $594,958.56. Following the completion of the transaction, the chief executive officer now owns 71,834 shares in the company, valued at $3,409,241.64. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 97,720 shares of company stock valued at $4,583,782. Company insiders own 1.70% of the company’s stock.
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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