Fmr LLC raised its stake in shares of Rexford Industrial Realty Inc (NYSE:REXR) by 37.4% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 7,561,704 shares of the real estate investment trust’s stock after acquiring an additional 2,057,501 shares during the period. Fmr LLC owned approximately 0.08% of Rexford Industrial Realty worth $237,361,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Strs Ohio increased its position in shares of Rexford Industrial Realty by 2.7% during the second quarter. Strs Ohio now owns 137,777 shares of the real estate investment trust’s stock valued at $4,324,000 after acquiring an additional 3,670 shares during the last quarter. Toronto Dominion Bank purchased a new position in shares of Rexford Industrial Realty in the second quarter valued at approximately $282,000. American Century Companies Inc. purchased a new position in shares of Rexford Industrial Realty in the second quarter valued at approximately $15,615,000. Teachers Insurance & Annuity Association of America boosted its stake in shares of Rexford Industrial Realty by 2.8% in the second quarter. Teachers Insurance & Annuity Association of America now owns 103,295 shares of the real estate investment trust’s stock valued at $3,242,000 after purchasing an additional 2,778 shares during the period. Finally, Bank of New York Mellon Corp boosted its stake in shares of Rexford Industrial Realty by 4.9% in the second quarter. Bank of New York Mellon Corp now owns 656,883 shares of the real estate investment trust’s stock valued at $20,620,000 after purchasing an additional 30,630 shares during the period. Institutional investors and hedge funds own 99.36% of the company’s stock.
NYSE REXR opened at $32.22 on Friday. The company has a quick ratio of 8.47, a current ratio of 8.47 and a debt-to-equity ratio of 0.48. Rexford Industrial Realty Inc has a one year low of $26.32 and a one year high of $32.91. The company has a market capitalization of $2.91 billion, a PE ratio of 33.56, a price-to-earnings-growth ratio of 3.70 and a beta of 0.67.
Rexford Industrial Realty (NYSE:REXR) last posted its quarterly earnings data on Tuesday, October 30th. The real estate investment trust reported $0.07 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.03 by $0.04. Rexford Industrial Realty had a net margin of 22.47% and a return on equity of 3.34%. The business had revenue of $54.47 million during the quarter, compared to analyst estimates of $55.09 million. During the same quarter last year, the firm posted $0.25 earnings per share. The business’s revenue for the quarter was up 26.0% compared to the same quarter last year. Equities research analysts anticipate that Rexford Industrial Realty Inc will post 1.07 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 15th. Stockholders of record on Monday, December 31st will be paid a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 1.99%. The ex-dividend date is Friday, December 28th. Rexford Industrial Realty’s payout ratio is 66.67%.
REXR has been the subject of several recent research reports. Zacks Investment Research raised shares of Rexford Industrial Realty from a “hold” rating to a “buy” rating and set a $36.00 price objective for the company in a research note on Thursday, October 4th. Capital One Financial raised shares of Rexford Industrial Realty from an “equal weight” rating to an “overweight” rating in a research note on Wednesday, August 1st. Finally, TheStreet lowered shares of Rexford Industrial Realty from a “b” rating to a “c+” rating in a research note on Wednesday, August 1st. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $33.00.
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 166 properties with approximately 20.3 million rentable square feet and manages an 20 properties with approximately 1.2 million rentable square feet.
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