Pictet Asset Management SA Raises Position in Rexford Industrial Realty, Inc. (NYSE:REXR)

Pictet Asset Management SA grew its holdings in shares of Rexford Industrial Realty, Inc. (NYSE:REXRGet Rating) by 6.8% during the second quarter, HoldingsChannel reports. The firm owned 65,463 shares of the real estate investment trust’s stock after purchasing an additional 4,141 shares during the quarter. Pictet Asset Management SA’s holdings in Rexford Industrial Realty were worth $3,770,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the business. Eqis Capital Management Inc. purchased a new position in shares of Rexford Industrial Realty during the 2nd quarter worth $387,000. AdvisorShares Investments LLC acquired a new stake in shares of Rexford Industrial Realty during the 2nd quarter worth $593,000. Walleye Capital LLC increased its holdings in shares of Rexford Industrial Realty by 710.7% during the 2nd quarter. Walleye Capital LLC now owns 119,731 shares of the real estate investment trust’s stock worth $6,895,000 after buying an additional 104,962 shares during the last quarter. Texas Permanent School Fund increased its holdings in shares of Rexford Industrial Realty by 5.0% during the 2nd quarter. Texas Permanent School Fund now owns 119,274 shares of the real estate investment trust’s stock worth $6,869,000 after buying an additional 5,656 shares during the last quarter. Finally, State of Michigan Retirement System increased its holdings in shares of Rexford Industrial Realty by 3.2% during the 2nd quarter. State of Michigan Retirement System now owns 41,982 shares of the real estate investment trust’s stock worth $2,418,000 after buying an additional 1,300 shares during the last quarter. Hedge funds and other institutional investors own 99.50% of the company’s stock.

Rexford Industrial Realty Stock Up 1.9 %

Shares of NYSE REXR opened at $55.66 on Monday. Rexford Industrial Realty, Inc. has a 12-month low of $48.74 and a 12-month high of $84.68. The company has a market cap of $10.21 billion, a P/E ratio of 59.85, a P/E/G ratio of 2.73 and a beta of 0.83. The company has a current ratio of 0.44, a quick ratio of 0.44 and a debt-to-equity ratio of 0.30. The stock has a fifty day moving average price of $54.50 and a 200 day moving average price of $60.05.

Rexford Industrial Realty Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 17th. Shareholders of record on Friday, December 30th will be given a $0.315 dividend. The ex-dividend date is Thursday, December 29th. This represents a $1.26 dividend on an annualized basis and a yield of 2.26%. Rexford Industrial Realty’s payout ratio is currently 135.48%.

Analyst Ratings Changes

A number of analysts have recently commented on REXR shares. Wells Fargo & Company dropped their price objective on Rexford Industrial Realty from $80.00 to $58.00 and set an “overweight” rating for the company in a report on Tuesday, October 18th. Stifel Nicolaus started coverage on Rexford Industrial Realty in a report on Wednesday, October 12th. They set a “buy” rating and a $64.00 price objective for the company. Robert W. Baird dropped their price objective on Rexford Industrial Realty from $77.00 to $71.00 in a report on Monday, October 24th. Finally, StockNews.com initiated coverage on Rexford Industrial Realty in a report on Wednesday, October 12th. They issued a “sell” rating for the company. 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. Based on data from MarketBeat, Rexford Industrial Realty has an average rating of “Hold” and an average price target of $68.83.

Rexford Industrial Realty Company 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.

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Institutional Ownership by Quarter for Rexford Industrial Realty (NYSE:REXR)

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