Sumitomo Mitsui DS Asset Management Company Ltd lifted its holdings in shares of Rexford Industrial Realty, Inc. (NYSE:REXR – Get Rating) by 19.1% in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 20,534 shares of the real estate investment trust's stock after buying an additional 3,292 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd's holdings in Rexford Industrial Realty were worth $1,183,000 as of its most recent filing with the SEC.
A number of other institutional investors also recently modified their holdings of the business. Vanguard Group Inc. raised its holdings in shares of Rexford Industrial Realty by 7.5% during the 1st quarter. Vanguard Group Inc. now owns 22,698,814 shares of the real estate investment trust's stock worth $1,693,104,000 after buying an additional 1,587,612 shares in the last quarter. BlackRock Inc. raised its holdings in shares of Rexford Industrial Realty by 2.8% during the 1st quarter. BlackRock Inc. now owns 20,363,229 shares of the real estate investment trust's stock worth $1,518,893,000 after buying an additional 552,381 shares in the last quarter. Principal Financial Group Inc. increased its holdings in Rexford Industrial Realty by 1.8% in the 1st quarter. Principal Financial Group Inc. now owns 9,557,989 shares of the real estate investment trust's stock worth $712,930,000 after purchasing an additional 166,571 shares in the last quarter. DigitalBridge Group Inc. increased its holdings in Rexford Industrial Realty by 2,797.2% in the 1st quarter. DigitalBridge Group Inc. now owns 9,155,276 shares of the real estate investment trust's stock worth $32,436,000 after purchasing an additional 8,839,276 shares in the last quarter. Finally, State Street Corp increased its holdings in Rexford Industrial Realty by 19.0% in the 1st quarter. State Street Corp now owns 8,626,789 shares of the real estate investment trust's stock worth $646,126,000 after purchasing an additional 1,375,680 shares in the last quarter. Institutional investors and hedge funds own 99.50% of the company's stock.
Get Rexford Industrial Realty alerts:Insider Activity at Rexford Industrial Realty
In related news, CEO Howard Schwimmer sold 16,402 shares of the company's stock in a transaction dated Monday, July 25th. The stock was sold at an average price of $62.15, for a total transaction of $1,019,384.30. Following the sale, the chief executive officer now owns 68,070 shares in the company, valued at approximately $4,230,550.50. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.50% of the stock is owned by corporate insiders.
Rexford Industrial Realty Trading Down 0.2 %
NYSE REXR opened at $56.57 on Friday. The business's 50-day moving average price is $63.29 and its two-hundred day moving average price is $66.47. Rexford Industrial Realty, Inc. has a 12 month low of $55.75 and a 12 month high of $84.68. The firm has a market capitalization of $9.68 billion, a PE ratio of 59.55, a price-to-earnings-growth ratio of 2.61 and a beta of 0.77. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 0.29.Rexford Industrial Realty (NYSE:REXR – Get Rating) last released its quarterly earnings results on Wednesday, July 20th. The real estate investment trust reported $0.22 EPS for the quarter, missing analysts' consensus estimates of $0.24 by ($0.02). Rexford Industrial Realty had a net margin of 29.79% and a return on equity of 3.17%. The company had revenue of $149.12 million during the quarter, compared to the consensus estimate of $149.21 million. During the same quarter last year, the firm posted $0.39 EPS. The company's quarterly revenue was up 42.9% on a year-over-year basis. On average, analysts expect that Rexford Industrial Realty, Inc. will post 1.93 EPS for the current year.
Rexford Industrial Realty Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Saturday, October 15th. Investors of record on Friday, September 30th will be given a dividend of $0.315 per share. The ex-dividend date is Thursday, September 29th. This represents a $1.26 annualized dividend and a dividend yield of 2.23%. Rexford Industrial Realty's payout ratio is 132.63%.
Analysts Set New Price Targets
A number of equities analysts have issued reports on the company. Robert W. Baird upped their target price on Rexford Industrial Realty from $87.00 to $89.00 in a report on Friday, July 22nd. Wolfe Research assumed coverage on Rexford Industrial Realty in a report on Tuesday, June 21st. They issued a "market perform" rating and a $63.00 target price for the company. Jefferies Financial Group lowered their target price on Rexford Industrial Realty from $89.00 to $73.00 in a report on Thursday, June 30th. Wells Fargo & Company upped their target price on Rexford Industrial Realty from $74.00 to $80.00 and gave the stock an "overweight" rating in a report on Thursday, August 11th. Finally, StockNews.com lowered Rexford Industrial Realty from a "hold" rating to a "sell" rating in a research report on Thursday, July 21st. One investment analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $77.80.
About Rexford Industrial Realty
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Rexford Industrial, a real estate investment trust focused on owning and operating industrial properties throughout Southern California infill markets, owns 232 properties with approximately 27.9 million rentable square feet and manages an additional 20 properties with approximately 1.0 million rentable square feet.
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