Bank of America Corp DE lifted its stake in shares of Rexford Industrial Realty, Inc. (NYSE:REXR – Get Rating) by 5.2% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 809,589 shares of the real estate investment trust's stock after purchasing an additional 39,673 shares during the quarter. Bank of America Corp DE owned 0.49% of Rexford Industrial Realty worth $60,388,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Vanguard Group Inc. grew its holdings in 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 acquiring an additional 1,587,612 shares during the last quarter. BlackRock Inc. grew its holdings in 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 acquiring an additional 552,381 shares during the last quarter. Principal Financial Group Inc. grew its holdings in Rexford Industrial Realty by 1.8% during 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 acquiring an additional 166,571 shares during the last quarter. DigitalBridge Group Inc. grew its holdings in Rexford Industrial Realty by 2,797.2% during 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 acquiring an additional 8,839,276 shares during the last quarter. Finally, State Street Corp grew its holdings in Rexford Industrial Realty by 19.0% during 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 acquiring an additional 1,375,680 shares during the last quarter. 99.50% of the stock is owned by institutional investors.
Get Rexford Industrial Realty alerts:Insider Transactions at Rexford Industrial Realty
In other news, CEO Howard Schwimmer sold 15,350 shares of the company's stock in a transaction that occurred on Monday, August 1st. The stock was sold at an average price of $65.27, for a total transaction of $1,001,894.50. Following the sale, the chief executive officer now directly owns 52,720 shares of the company's stock, valued at approximately $3,441,034.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 1.20% of the company's stock.
Analyst Upgrades and Downgrades
REXR has been the topic of a number of research reports. StockNews.com lowered shares of Rexford Industrial Realty from a "hold" rating to a "sell" rating in a report on Thursday, July 21st. Robert W. Baird upped their target price on shares of Rexford Industrial Realty from $87.00 to $89.00 in a research note on Friday, July 22nd. Jefferies Financial Group reduced their target price on shares of Rexford Industrial Realty from $89.00 to $73.00 in a research note on Thursday, June 30th. Wolfe Research initiated coverage on shares of Rexford Industrial Realty in a research report on Tuesday, June 21st. They set a "market perform" rating and a $63.00 target price for the company. Finally, Wells Fargo & Company increased their price target on shares of Rexford Industrial Realty from $74.00 to $80.00 and gave the stock an "overweight" rating in a report on Thursday, August 11th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, Rexford Industrial Realty has an average rating of "Hold" and a consensus target price of $77.80.Rexford Industrial Realty Trading Down 3.2 %
Shares of NYSE:REXR opened at $54.78 on Tuesday. The stock has a 50 day moving average of $63.21 and a 200 day moving average of $66.32. The company has a market cap of $9.37 billion, a PE ratio of 57.66, a price-to-earnings-growth ratio of 2.59 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, Inc. has a 12-month low of $53.87 and a 12-month high of $84.68.
Rexford Industrial Realty (NYSE:REXR – Get Rating) last posted its quarterly earnings results on Wednesday, July 20th. The real estate investment trust reported $0.22 earnings per share for the quarter, missing the consensus estimate of $0.24 by ($0.02). The business had revenue of $149.12 million during the quarter, compared to the consensus estimate of $149.21 million. Rexford Industrial Realty had a return on equity of 3.17% and a net margin of 29.79%. The company's revenue for the quarter was up 42.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.39 earnings per share. As a group, equities research analysts expect that Rexford Industrial Realty, Inc. will post 1.93 EPS for the current year.
Rexford Industrial Realty Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Saturday, October 15th. Stockholders of record on Friday, September 30th will be issued 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 2.30%. Rexford Industrial Realty's dividend payout ratio (DPR) is 132.63%.
Rexford Industrial Realty Profile
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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.
Read More
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