Amundi Pioneer Asset Management Inc. lifted its stake in Rexford Industrial Realty (NYSE:REXR) by 19.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 202,342 shares of the real estate investment trust’s stock after purchasing an additional 33,442 shares during the period. Amundi Pioneer Asset Management Inc. owned about 0.26% of Rexford Industrial Realty worth $5,901,000 at the end of the most recent quarter.
Other large investors also recently added to or reduced their stakes in the company. Advisor Group Inc. boosted its holdings in Rexford Industrial Realty by 87.0% in the third quarter. Advisor Group Inc. now owns 7,083 shares of the real estate investment trust’s stock valued at $203,000 after purchasing an additional 3,296 shares during the period. Eaton Vance Management purchased a new position in Rexford Industrial Realty in the fourth quarter valued at $229,000. BB&T Securities LLC purchased a new position in Rexford Industrial Realty in the third quarter valued at $231,000. Miracle Mile Advisors LLC purchased a new position in Rexford Industrial Realty in the fourth quarter valued at $317,000. Finally, Exane Derivatives boosted its holdings in Rexford Industrial Realty by 473,133.3% in the fourth quarter. Exane Derivatives now owns 14,197 shares of the real estate investment trust’s stock valued at $414,000 after purchasing an additional 14,194 shares during the period.
Rexford Industrial Realty stock traded down $0.51 during midday trading on Thursday, reaching $27.89. The company’s stock had a trading volume of 491,828 shares, compared to its average volume of 560,345. Rexford Industrial Realty has a fifty-two week low of $24.28 and a fifty-two week high of $31.71. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.50 and a quick ratio of 0.50. The stock has a market cap of $2,222.06, a PE ratio of 29.58, a P/E/G ratio of 4.53 and a beta of 0.74.
Rexford Industrial Realty (NYSE:REXR) last posted its quarterly earnings results on Tuesday, February 13th. The real estate investment trust reported $0.15 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.25 by ($0.10). Rexford Industrial Realty had a net margin of 25.23% and a return on equity of 3.83%. The business had revenue of $45.88 million during the quarter, compared to analyst estimates of $45.29 million. research analysts expect that Rexford Industrial Realty will post 1.05 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, April 16th. Stockholders of record on Friday, March 30th will be given a dividend of $0.16 per share. The ex-dividend date of this dividend is Wednesday, March 28th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 2.29%. This is a boost from Rexford Industrial Realty’s previous quarterly dividend of $0.15. Rexford Industrial Realty’s payout ratio is 66.67%.
REXR has been the subject of a number of recent research reports. DA Davidson reiterated a “buy” rating on shares of Rexford Industrial Realty in a report on Wednesday, February 14th. National Securities reiterated a “buy” rating and issued a $34.00 target price on shares of Rexford Industrial Realty in a report on Tuesday, February 27th. Zacks Investment Research upgraded Rexford Industrial Realty from a “hold” rating to a “buy” rating and set a $33.00 target price for the company in a report on Thursday, January 4th. Capital One Financial lowered Rexford Industrial Realty from an “overweight” rating to an “equal weight” rating in a report on Wednesday, February 14th. Finally, B. Riley set a $30.00 target price on Rexford Industrial Realty and gave the company a “hold” rating in a report on Tuesday, February 20th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the company. Rexford Industrial Realty presently has an average rating of “Hold” and an average target price of $30.70.
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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 150 properties with approximately 18.5 million rentable square feet and manages an additional 19 properties with approximately 1.2 million rentable square feet.
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