Natixis Advisors L.P. reduced its position in Rexford Industrial Realty Inc (NYSE:REXR) by 9.3% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 150,745 shares of the real estate investment trust’s stock after selling 15,507 shares during the period. Natixis Advisors L.P. owned 0.14% of Rexford Industrial Realty worth $6,085,000 at the end of the most recent quarter.
Other institutional investors have also recently bought and sold shares of the company. Fisher Asset Management LLC raised its stake in Rexford Industrial Realty by 5.2% during the 2nd quarter. Fisher Asset Management LLC now owns 111,018 shares of the real estate investment trust’s stock valued at $4,482,000 after acquiring an additional 5,453 shares during the last quarter. ClariVest Asset Management LLC increased its stake in shares of Rexford Industrial Realty by 31.9% during the first quarter. ClariVest Asset Management LLC now owns 73,200 shares of the real estate investment trust’s stock worth $2,622,000 after acquiring an additional 17,700 shares during the period. 361 Capital LLC acquired a new position in shares of Rexford Industrial Realty during the first quarter worth about $2,932,000. PGGM Investments raised its holdings in Rexford Industrial Realty by 4.8% during the second quarter. PGGM Investments now owns 4,508,463 shares of the real estate investment trust’s stock worth $182,007,000 after purchasing an additional 205,093 shares in the last quarter. Finally, AlphaCrest Capital Management LLC raised its holdings in Rexford Industrial Realty by 68.3% during the first quarter. AlphaCrest Capital Management LLC now owns 21,200 shares of the real estate investment trust’s stock worth $759,000 after purchasing an additional 8,600 shares in the last quarter. 99.00% of the stock is owned by institutional investors and hedge funds.
In related news, CEO Howard Schwimmer sold 23,600 shares of Rexford Industrial Realty stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $41.70, for a total transaction of $984,120.00. Following the completion of the transaction, the chief executive officer now directly owns 68,958 shares in the company, valued at approximately $2,875,548.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.70% of the company’s stock.
A number of equities research analysts have weighed in on REXR shares. Stifel Nicolaus lifted their price objective on Rexford Industrial Realty from $41.00 to $46.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Zacks Investment Research cut Rexford Industrial Realty from a “buy” rating to a “hold” rating in a report on Thursday, July 11th. Three analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Rexford Industrial Realty presently has a consensus rating of “Hold” and an average target price of $42.67.
Shares of REXR stock traded down $0.02 during mid-day trading on Wednesday, reaching $43.18. The stock had a trading volume of 21,811 shares, compared to its average volume of 526,112. The company has a market cap of $4.86 billion, a P/E ratio of 38.49, a price-to-earnings-growth ratio of 5.07 and a beta of 0.80. The company has a current ratio of 7.17, a quick ratio of 7.17 and a debt-to-equity ratio of 0.34. Rexford Industrial Realty Inc has a 12-month low of $28.17 and a 12-month high of $44.92. The business has a 50-day simple moving average of $42.74 and a 200 day simple moving average of $39.05.
Rexford Industrial Realty (NYSE:REXR) last released its quarterly earnings data on Tuesday, July 30th. The real estate investment trust reported $0.12 EPS for the quarter, missing the consensus estimate of $0.29 by ($0.17). The business had revenue of $63.60 million during the quarter, compared to analysts’ expectations of $63.33 million. Rexford Industrial Realty had a return on equity of 2.63% and a net margin of 21.02%. Rexford Industrial Realty’s quarterly revenue was up 23.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.27 earnings per share. Research analysts anticipate that Rexford Industrial Realty Inc will post 1.21 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th will be paid a dividend of $0.185 per share. The ex-dividend date is Friday, September 27th. This represents a $0.74 dividend on an annualized basis and a dividend yield of 1.71%. Rexford Industrial Realty’s dividend payout ratio (DPR) is 66.07%.
About Rexford Industrial Realty
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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