HighTower Advisors LLC Has $2.91 Million Stake in Rexford Industrial Realty, Inc. (NYSE:REXR)

HighTower Advisors LLC raised its stake in shares of Rexford Industrial Realty, Inc. (NYSE:REXR - Free Report) by 256.6% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 57,431 shares of the real estate investment trust's stock after buying an additional 41,324 shares during the quarter. HighTower Advisors LLC's holdings in Rexford Industrial Realty were worth $2,909,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. CWM LLC grew its holdings in 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 period. SG Americas Securities LLC increased its position in shares of 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 in the last quarter. Wealth Enhancement Advisory Services LLC bought a new stake in shares of Rexford Industrial Realty in the 2nd quarter valued at $424,000. V Square Quantitative Management LLC acquired a new stake in Rexford Industrial Realty during the 2nd quarter worth $26,000. Finally, Envestnet Portfolio Solutions Inc. lifted its holdings in Rexford Industrial Realty by 28.2% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 5,380 shares of the real estate investment trust's stock worth $240,000 after acquiring an additional 1,185 shares in the last quarter. 99.52% of the stock is owned by institutional investors.

Rexford Industrial Realty Stock Up 1.4 %

REXR stock traded up $0.56 during mid-day trading on Friday, reaching $40.87. The company had a trading volume of 1,857,894 shares, compared to its average volume of 1,743,904. Rexford Industrial Realty, Inc. has a 52 week low of $39.85 and a 52 week high of $58.02. The company has a market capitalization of $9.09 billion, a price-to-earnings ratio of 33.23, a PEG ratio of 1.93 and a beta of 0.93. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.20 and a quick ratio of 1.20. The stock has a 50 day simple moving average of $43.44 and a two-hundred day simple moving average of $46.61.

Rexford Industrial Realty (NYSE:REXR - Get Free Report) last posted 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). Rexford Industrial Realty had a return on equity of 3.35% and a net margin of 30.40%. The firm had revenue of $241.84 million for the quarter, compared to the consensus estimate of $235.81 million. During the same period last year, the company posted $0.56 earnings per share. The business's revenue was up 17.7% compared to the same quarter last year. As a group, equities 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 firm also recently declared 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. This represents a $1.67 dividend on an annualized basis and a yield of 4.09%. The ex-dividend date of this dividend is Tuesday, December 31st. Rexford Industrial Realty's payout ratio is currently 135.77%.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. Mizuho lowered their price target on Rexford Industrial Realty from $50.00 to $49.00 and set a "neutral" rating for the company in a report on Thursday, September 5th. Scotiabank downgraded shares of Rexford Industrial Realty from a "sector outperform" rating to a "sector perform" rating and dropped their target price for the stock from $55.00 to $48.00 in a report on Friday, October 25th. StockNews.com lowered shares of Rexford Industrial Realty from a "hold" rating to a "sell" rating in a research note on Monday, October 21st. Industrial Alliance Securities set a $55.00 price objective on shares of Rexford Industrial Realty in a report on Friday, October 18th. Finally, Bank of America lowered shares of Rexford Industrial Realty from a "buy" rating to a "neutral" rating and reduced their target price for the stock from $66.00 to $49.00 in a research note on Monday, October 21st. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $51.09.

About Rexford Industrial Realty

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.