B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in shares of Rexford Industrial Realty, Inc. (NYSE:REXR - Free Report) during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor purchased 67,110 shares of the real estate investment trust's stock, valued at approximately $3,376,000.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. M&G Plc raised its holdings in shares of Rexford Industrial Realty by 12.2% in the second quarter. M&G Plc now owns 754,952 shares of the real estate investment trust's stock worth $33,973,000 after buying an additional 82,078 shares during the period. Magnetar Financial LLC purchased a new stake in shares of Rexford Industrial Realty during the first quarter valued at $1,671,000. DekaBank Deutsche Girozentrale increased its stake in Rexford Industrial Realty by 23.8% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 62,445 shares of the real estate investment trust's stock worth $3,089,000 after buying an additional 12,006 shares during the period. CANADA LIFE ASSURANCE Co increased its stake in Rexford Industrial Realty by 3.6% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 413,248 shares of the real estate investment trust's stock worth $20,779,000 after buying an additional 14,312 shares during the period. Finally, SG Americas Securities LLC boosted its position in Rexford Industrial Realty by 61.4% in the 2nd quarter. SG Americas Securities LLC now owns 50,822 shares of the real estate investment trust's stock valued at $2,266,000 after buying an additional 19,340 shares during the period. 99.52% of the stock is owned by hedge funds and other institutional investors.
Insider Transactions at Rexford Industrial Realty
In other news, CFO Laura E. Clark sold 14,185 shares of the stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $50.15, for a total value of $711,377.75. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 1.20% of the company's stock.
Rexford Industrial Realty Stock Performance
Shares of Rexford Industrial Realty stock traded down $0.71 during midday trading on Thursday, hitting $41.97. The company had a trading volume of 1,610,799 shares, compared to its average volume of 1,725,335. The stock has a market cap of $9.33 billion, a price-to-earnings ratio of 34.70, a PEG ratio of 2.04 and a beta of 0.94. Rexford Industrial Realty, Inc. has a 12-month low of $41.16 and a 12-month high of $58.02. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 0.40. The company has a fifty day simple moving average of $46.48 and a 200 day simple moving average of $47.03.
Rexford Industrial Realty (NYSE:REXR - Get Free Report) last posted its quarterly earnings data on Wednesday, October 16th. The real estate investment trust reported $0.30 EPS for the quarter, missing the consensus estimate of $0.58 by ($0.28). Rexford Industrial Realty had a return on equity of 3.35% and a net margin of 30.40%. The company had revenue of $241.84 million for the quarter, compared to analyst estimates of $235.81 million. During the same quarter in the previous year, the firm posted $0.56 earnings per share. The company's quarterly revenue was up 17.7% on a year-over-year basis. As a group, analysts predict that Rexford Industrial Realty, Inc. will post 2.34 earnings per share for the current fiscal year.
Rexford Industrial Realty Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be paid a $0.4175 dividend. This represents a $1.67 annualized dividend and a dividend yield of 3.98%. The ex-dividend date of this dividend is Tuesday, December 31st. Rexford Industrial Realty's payout ratio is 135.77%.
Analysts Set New Price Targets
Several analysts have recently weighed in on the stock. Industrial Alliance Securities set a $55.00 price target on shares of Rexford Industrial Realty in a research note on Friday, October 18th. Wells Fargo & Company dropped their price target on Rexford Industrial Realty from $66.00 to $61.00 and set an "overweight" rating on the stock in a research report on Wednesday, August 28th. JPMorgan Chase & Co. lifted their price objective on Rexford Industrial Realty from $47.00 to $52.00 and gave the company a "neutral" rating in a report on Thursday, July 25th. StockNews.com cut shares of Rexford Industrial Realty from a "hold" rating to a "sell" rating in a report on Monday, October 21st. Finally, Truist Financial cut their price target on Rexford Industrial Realty from $54.00 to $50.00 and set a "buy" rating on the stock in a report on Tuesday, November 12th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the company. According to MarketBeat, Rexford Industrial Realty presently has a consensus rating of "Hold" and an average price target of $51.09.
Check Out Our Latest Research Report on REXR
Rexford Industrial Realty Company Profile
(
Free Report)
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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