Fmr LLC Buys 195,496 Shares of Rexford Industrial Realty, Inc. (NYSE:REXR)

FMR LLC increased its holdings in Rexford Industrial Realty, Inc. (NYSE:REXR - Free Report) by 243.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 275,669 shares of the real estate investment trust's stock after acquiring an additional 195,496 shares during the period. FMR LLC owned about 0.12% of Rexford Industrial Realty worth $13,869,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. V Square Quantitative Management LLC acquired a new position in Rexford Industrial Realty during the second quarter worth $26,000. UMB Bank n.a. increased its stake in Rexford Industrial Realty by 164.3% during the third quarter. UMB Bank n.a. now owns 719 shares of the real estate investment trust's stock valued at $36,000 after acquiring an additional 447 shares during the period. Headlands Technologies LLC bought a new stake in shares of Rexford Industrial Realty during the second quarter valued at approximately $41,000. CWM LLC increased its holdings in Rexford Industrial Realty by 73.9% in the 2nd quarter. CWM LLC now owns 1,485 shares of the real estate investment trust's stock valued at $66,000 after buying an additional 631 shares during the period. Finally, Fifth Third Bancorp raised its position in Rexford Industrial Realty by 42.4% in the second quarter. Fifth Third Bancorp now owns 1,741 shares of the real estate investment trust's stock worth $78,000 after purchasing an additional 518 shares in the last quarter. 99.52% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have issued reports on REXR shares. Bank of America cut Rexford Industrial Realty from a "buy" rating to a "neutral" rating and cut their price objective for the company from $66.00 to $49.00 in a report on Monday, October 21st. Mizuho decreased their price target on Rexford Industrial Realty from $50.00 to $49.00 and set a "neutral" rating on the stock in a report on Thursday, September 5th. Evercore ISI reaffirmed an "outperform" rating on shares of Rexford Industrial Realty in a report on Friday, October 18th. Scotiabank cut Rexford Industrial Realty from a "sector outperform" rating to a "sector perform" rating and decreased their price objective for the stock from $55.00 to $48.00 in a research note on Friday, October 25th. Finally, Truist Financial cut their target price on Rexford Industrial Realty from $54.00 to $50.00 and set a "buy" rating on the stock in a research note on Tuesday, November 12th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $51.09.

Rexford Industrial Realty Stock Down 1.3 %

Shares of NYSE:REXR traded down $0.52 during midday trading on Wednesday, reaching $40.68. 1,727,769 shares of the company were exchanged, compared to its average volume of 1,744,974. The firm has a market cap of $9.05 billion, a PE ratio of 33.07, a P/E/G ratio of 1.90 and a beta of 0.93. Rexford Industrial Realty, Inc. has a fifty-two week low of $39.85 and a fifty-two week high of $58.02. The stock has a fifty day simple moving average of $43.76 and a two-hundred day simple moving average of $46.67. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 0.40.

Rexford Industrial Realty (NYSE:REXR - Get Free Report) last released its quarterly earnings results on Wednesday, October 16th. The real estate investment trust reported $0.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.58 by ($0.28). The firm had revenue of $241.84 million during the quarter, compared to analyst estimates of $235.81 million. Rexford Industrial Realty had a net margin of 30.40% and a return on equity of 3.35%. The business's revenue for the quarter was up 17.7% compared to the same quarter last year. During the same period in the prior year, the business earned $0.56 EPS. As a group, sell-side analysts forecast that Rexford Industrial Realty, Inc. will post 2.34 earnings per share for the current year.

Rexford Industrial Realty Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be given a $0.4175 dividend. This represents a $1.67 dividend on an annualized basis and a dividend yield of 4.11%. The ex-dividend date of this dividend is Tuesday, December 31st. Rexford Industrial Realty's dividend payout ratio is presently 135.77%.

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.