ClariVest Asset Management LLC boosted its holdings in Rexford Industrial Realty Inc (NYSE:REXR) by 31.9% during the first quarter, HoldingsChannel.com reports. The fund owned 73,200 shares of the real estate investment trust’s stock after purchasing an additional 17,700 shares during the period. ClariVest Asset Management LLC’s holdings in Rexford Industrial Realty were worth $2,622,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds have also bought and sold shares of the stock. PGGM Investments grew its holdings in Rexford Industrial Realty by 4,193.6% in the 1st quarter. PGGM Investments now owns 4,303,370 shares of the real estate investment trust’s stock valued at $154,104,000 after buying an additional 4,203,143 shares in the last quarter. Vanguard Group Inc grew its holdings in Rexford Industrial Realty by 9.9% in the 3rd quarter. Vanguard Group Inc now owns 12,569,018 shares of the real estate investment trust’s stock valued at $401,706,000 after buying an additional 1,128,837 shares in the last quarter. Norges Bank acquired a new position in Rexford Industrial Realty in the 4th quarter valued at $29,836,000. BlackRock Inc. grew its holdings in Rexford Industrial Realty by 4.8% in the 4th quarter. BlackRock Inc. now owns 10,579,277 shares of the real estate investment trust’s stock valued at $311,772,000 after buying an additional 487,419 shares in the last quarter. Finally, Nuveen Asset Management LLC acquired a new position in Rexford Industrial Realty in the 4th quarter valued at $13,279,000. Institutional investors and hedge funds own 98.68% of the company’s stock.
A number of research analysts have commented on the company. Zacks Investment Research lowered Rexford Industrial Realty from a “buy” rating to a “hold” rating in a report on Tuesday. Wells Fargo & Co upped their price objective on Rexford Industrial Realty from $32.00 to $37.00 and gave the company a “market perform” rating in a report on Thursday, March 14th. They noted that the move was a valuation call. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $38.33.
Shares of NYSE REXR opened at $39.94 on Thursday. The company has a current ratio of 8.34, a quick ratio of 8.34 and a debt-to-equity ratio of 0.38. Rexford Industrial Realty Inc has a one year low of $28.17 and a one year high of $40.00. The firm has a market capitalization of $4.11 billion, a price-to-earnings ratio of 35.66, a PEG ratio of 3.75 and a beta of 0.84.
Rexford Industrial Realty (NYSE:REXR) last issued its quarterly earnings data on Tuesday, April 30th. The real estate investment trust reported $0.08 EPS for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.20). The firm had revenue of $60.36 million during the quarter, compared to analyst estimates of $60.05 million. Rexford Industrial Realty had a net margin of 18.77% and a return on equity of 2.43%. The business’s quarterly revenue was up 24.4% compared to the same quarter last year. During the same period in the prior year, the company earned $0.27 earnings per share. Equities analysts forecast that Rexford Industrial Realty Inc will post 1.2 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Friday, June 28th will be paid a $0.185 dividend. This represents a $0.74 annualized dividend and a yield of 1.85%. The ex-dividend date of this dividend is Thursday, June 27th. Rexford Industrial Realty’s dividend payout ratio (DPR) is presently 66.07%.
In related news, General Counsel David E. Lanzer sold 5,085 shares of the firm’s stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $38.19, for a total value of $194,196.15. Following the sale, the general counsel now directly owns 5,718 shares of the company’s stock, valued at $218,370.42. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Adeel Khan sold 40,000 shares of the firm’s stock in a transaction dated Thursday, May 23rd. The shares were sold at an average price of $38.00, for a total value of $1,520,000.00. Following the completion of the sale, the chief financial officer now directly owns 40,000 shares in the company, valued at $1,520,000. The disclosure for this sale can be found here. Company insiders own 1.70% of the company’s stock.
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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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