Aigen Investment Management LP lessened its holdings in shares of Rexford Industrial Realty Inc (NYSE:REXR) by 49.4% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 24,223 shares of the real estate investment trust’s stock after selling 23,660 shares during the period. Aigen Investment Management LP’s holdings in Rexford Industrial Realty were worth $1,004,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. BlackRock Inc. raised its holdings in shares of Rexford Industrial Realty by 2.4% during the first quarter. BlackRock Inc. now owns 12,352,902 shares of the real estate investment trust’s stock valued at $506,591,000 after buying an additional 288,724 shares during the last quarter. Principal Financial Group Inc. raised its holdings in Rexford Industrial Realty by 65.6% during the second quarter. Principal Financial Group Inc. now owns 8,271,412 shares of the real estate investment trust’s stock worth $342,684,000 after purchasing an additional 3,277,018 shares in the last quarter. PGGM Investments raised its holdings in Rexford Industrial Realty by 4.9% during the second quarter. PGGM Investments now owns 7,918,142 shares of the real estate investment trust’s stock worth $328,049,000 after purchasing an additional 367,000 shares in the last quarter. Nuveen Asset Management LLC raised its holdings in Rexford Industrial Realty by 23.4% during the first quarter. Nuveen Asset Management LLC now owns 6,176,916 shares of the real estate investment trust’s stock worth $253,315,000 after purchasing an additional 1,169,978 shares in the last quarter. Finally, State Street Corp raised its holdings in Rexford Industrial Realty by 13.1% during the first quarter. State Street Corp now owns 5,104,796 shares of the real estate investment trust’s stock worth $210,398,000 after purchasing an additional 592,425 shares in the last quarter. 98.86% of the stock is currently owned by institutional investors.
NYSE REXR opened at $47.40 on Tuesday. Rexford Industrial Realty Inc has a twelve month low of $31.79 and a twelve month high of $53.48. The company has a debt-to-equity ratio of 0.32, a quick ratio of 7.69 and a current ratio of 7.69. The stock has a market cap of $5.83 billion, a price-to-earnings ratio of 36.82, a PEG ratio of 8.79 and a beta of 0.70. The firm’s 50 day moving average price is $44.51 and its two-hundred day moving average price is $42.92.
Rexford Industrial Realty (NYSE:REXR) last posted its quarterly earnings data on Tuesday, July 21st. The real estate investment trust reported $0.10 earnings per share for the quarter, missing the consensus estimate of $0.32 by ($0.22). Rexford Industrial Realty had a return on equity of 2.64% and a net margin of 21.93%. The firm had revenue of $79.95 million for the quarter, compared to analysts’ expectations of $78.22 million. On average, research analysts forecast that Rexford Industrial Realty Inc will post 1.28 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Wednesday, September 30th will be given a dividend of $0.215 per share. This represents a $0.86 annualized dividend and a yield of 1.81%. The ex-dividend date is Tuesday, September 29th. Rexford Industrial Realty’s payout ratio is 69.92%.
In other Rexford Industrial Realty news, CEO Michael S. Frankel sold 66,614 shares of Rexford Industrial Realty stock in a transaction that occurred on Friday, July 31st. The shares were sold at an average price of $47.06, for a total transaction of $3,134,854.84. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 1.50% of the company’s stock.
Several research firms have issued reports on REXR. Capital One Financial cut Rexford Industrial Realty from an “overweight” rating to an “equal weight” rating and dropped their price target for the company from $50.00 to $40.00 in a report on Monday, May 4th. Zacks Investment Research raised Rexford Industrial Realty from a “hold” rating to a “buy” rating and set a $52.00 price target on the stock in a report on Friday. Finally, TheStreet raised Rexford Industrial Realty from a “c+” rating to a “b-” rating in a report on Wednesday, July 1st. Four analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Rexford Industrial Realty currently has an average rating of “Hold” and a consensus target price of $45.25.
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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