Geode Capital Management LLC Acquires 74,865 Shares of Rexford Industrial Realty, Inc. (NYSE:REXR)

Geode Capital Management LLC raised its position in shares of Rexford Industrial Realty, Inc. (NYSE:REXR - Free Report) by 1.9% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,074,044 shares of the real estate investment trust's stock after purchasing an additional 74,865 shares during the period. Geode Capital Management LLC owned 1.83% of Rexford Industrial Realty worth $205,014,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. UMB Bank n.a. boosted its position in shares of Rexford Industrial Realty by 164.3% during the 3rd quarter. UMB Bank n.a. now owns 719 shares of the real estate investment trust's stock valued at $36,000 after purchasing an additional 447 shares in the last quarter. Headlands Technologies LLC bought a new stake in shares of Rexford Industrial Realty during the 2nd quarter worth $41,000. CWM LLC lifted its holdings in shares of Rexford Industrial Realty by 73.9% during the second quarter. CWM LLC now owns 1,485 shares of the real estate investment trust's stock valued at $66,000 after purchasing an additional 631 shares during the last quarter. Fifth Third Bancorp boosted its position in shares of Rexford Industrial Realty by 42.4% in the 2nd quarter. Fifth Third Bancorp now owns 1,741 shares of the real estate investment trust's stock valued at $78,000 after purchasing an additional 518 shares during the period. Finally, GAMMA Investing LLC lifted its stake in Rexford Industrial Realty by 111.7% during the third quarter. GAMMA Investing LLC now owns 1,850 shares of the real estate investment trust's stock valued at $93,000 after buying an additional 976 shares in the last quarter. Institutional investors own 99.52% of the company's stock.

Rexford Industrial Realty Trading Down 2.0 %

Shares of REXR traded down $0.82 during trading hours on Monday, hitting $40.05. 2,465,713 shares of the stock traded hands, compared to its average volume of 1,746,886. The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 0.40. Rexford Industrial Realty, Inc. has a 1-year low of $39.85 and a 1-year high of $57.01. The firm has a market capitalization of $8.91 billion, a PE ratio of 32.56, a price-to-earnings-growth ratio of 1.94 and a beta of 0.93. The business has a fifty day moving average of $43.44 and a 200-day moving average of $46.64.

Rexford Industrial Realty (NYSE:REXR - Get Free Report) last issued its earnings results on Wednesday, October 16th. The real estate investment trust reported $0.30 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.58 by ($0.28). The company had revenue of $241.84 million for the quarter, compared to the consensus estimate of $235.81 million. Rexford Industrial Realty had a return on equity of 3.35% and a net margin of 30.40%. Rexford Industrial Realty's quarterly revenue was up 17.7% on a year-over-year basis. During the same quarter last year, the business posted $0.56 EPS. Analysts expect that Rexford Industrial Realty, Inc. will post 2.34 EPS for the current year.

Rexford Industrial Realty Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be issued a dividend of $0.4175 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $1.67 dividend on an annualized basis and a dividend yield of 4.17%. Rexford Industrial Realty's payout ratio is presently 135.77%.

Analyst Ratings Changes

A number of research firms have issued reports on REXR. Wells Fargo & Company cut their target price on shares of Rexford Industrial Realty from $66.00 to $61.00 and set an "overweight" rating for the company in a research report on Wednesday, August 28th. Mizuho reduced their price objective on Rexford Industrial Realty from $50.00 to $49.00 and set a "neutral" rating for the company in a research report on Thursday, September 5th. Bank of America lowered Rexford Industrial Realty from a "buy" rating to a "neutral" rating and reduced their price target for the company from $66.00 to $49.00 in a report on Monday, October 21st. Evercore ISI restated an "outperform" rating on shares of Rexford Industrial Realty in a report on Friday, October 18th. Finally, Industrial Alliance Securities set a $55.00 price target on shares of Rexford Industrial Realty in a research note on Friday, October 18th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $51.09.

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.