AXS Investments LLC decreased its stake in shares of Rexford Industrial Realty, Inc. (NYSE:REXR – Free Report) by 26.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 25,722 shares of the real estate investment trust’s stock after selling 9,278 shares during the period. AXS Investments LLC’s holdings in Rexford Industrial Realty were worth $1,534,000 at the end of the most recent quarter.
Several other hedge funds also recently modified their holdings of REXR. Norges Bank purchased a new position in shares of Rexford Industrial Realty during the fourth quarter valued at approximately $283,319,000. Price T Rowe Associates Inc. MD boosted its position in shares of Rexford Industrial Realty by 64.9% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 10,432,222 shares of the real estate investment trust’s stock valued at $570,016,000 after buying an additional 4,107,405 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of Rexford Industrial Realty by 7.5% during the first quarter. Vanguard Group Inc. now owns 22,698,814 shares of the real estate investment trust’s stock valued at $1,693,104,000 after buying an additional 1,587,612 shares during the last quarter. Deutsche Bank AG boosted its position in Rexford Industrial Realty by 1,284.3% in the fourth quarter. Deutsche Bank AG now owns 1,598,503 shares of the real estate investment trust’s stock worth $87,342,000 after purchasing an additional 1,483,031 shares during the last quarter. Finally, State Street Corp boosted its position in Rexford Industrial Realty by 19.0% in the first 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 during the last quarter. Hedge funds and other institutional investors own 99.52% of the company’s stock.
Analyst Upgrades and Downgrades
Several research firms have weighed in on REXR. Mizuho began coverage on Rexford Industrial Realty in a research report on Wednesday, June 28th. They issued a “neutral” rating and a $52.00 price objective on the stock. Citigroup cut Rexford Industrial Realty from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $66.00 to $53.00 in a research report on Monday, June 12th. StockNews.com began coverage on Rexford Industrial Realty in a research report on Thursday, August 17th. They issued a “sell” rating on the stock. Finally, BMO Capital Markets cut Rexford Industrial Realty from an “outperform” rating to a “market perform” rating and cut their price objective for the stock from $69.00 to $56.00 in a research report on Monday, June 12th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $60.67.
Rexford Industrial Realty Stock Performance
Shares of NYSE REXR traded up $0.06 during trading on Friday, reaching $53.53. 212,052 shares of the stock traded hands, compared to its average volume of 1,501,456. Rexford Industrial Realty, Inc. has a 52-week low of $48.74 and a 52-week high of $66.71. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.37 and a quick ratio of 1.37. The company has a 50-day moving average of $53.20 and a 200-day moving average of $55.38. The stock has a market capitalization of $11.05 billion, a P/E ratio of 54.01, a price-to-earnings-growth ratio of 2.12 and a beta of 0.83.
Rexford Industrial Realty (NYSE:REXR – Get Free Report) last issued its quarterly earnings results on Wednesday, July 19th. The real estate investment trust reported $0.26 EPS for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.28). Rexford Industrial Realty had a net margin of 27.23% and a return on equity of 2.82%. The firm had revenue of $195.80 million for the quarter, compared to analysts’ expectations of $196.92 million. During the same period in the prior year, the company earned $0.49 EPS. The firm’s quarterly revenue was up 31.3% on a year-over-year basis. Analysts forecast that Rexford Industrial Realty, Inc. will post 2.19 EPS for the current fiscal year.
Rexford Industrial Realty Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 16th. Investors of record on Friday, September 29th will be paid a dividend of $0.38 per share. The ex-dividend date of this dividend is Thursday, September 28th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.84%. Rexford Industrial Realty’s payout ratio is 153.54%.
Insider Activity at Rexford Industrial Realty
In related news, CFO Laura E. Clark sold 7,410 shares of the business’s stock in a transaction on Friday, July 28th. The stock was sold at an average price of $54.48, for a total transaction of $403,696.80. Following the sale, the chief financial officer now directly owns 2,562 shares in the company, valued at approximately $139,577.76. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 1.10% of the stock is currently owned by corporate insiders.
Rexford Industrial Realty Company Profile
Rexford Industrial creates value by investing in, operating and redeveloping industrial properties throughout infill Southern California, the world's fourth largest industrial market and consistently the highest-demand with lowest-supply major market in the nation. The Company's highly differentiated strategy enables internal and external growth opportunities through its proprietary value creation and asset management capabilities.
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