Rexford Industrial Realty, Inc. (NYSE:REXR) Shares Acquired by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA raised its holdings in shares of Rexford Industrial Realty, Inc. (NYSE:REXR - Free Report) by 14.8% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,339,219 shares of the real estate investment trust's stock after purchasing an additional 431,659 shares during the period. Massachusetts Financial Services Co. MA owned 1.50% of Rexford Industrial Realty worth $167,996,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of REXR. M&G Plc lifted its holdings in shares of Rexford Industrial Realty by 12.2% during the 2nd quarter. M&G Plc now owns 754,952 shares of the real estate investment trust's stock valued at $33,973,000 after buying an additional 82,078 shares during the period. Magnetar Financial LLC purchased a new position in shares of Rexford Industrial Realty during the 1st quarter valued at $1,671,000. DekaBank Deutsche Girozentrale lifted its position in shares of Rexford Industrial Realty by 23.8% in the first quarter. DekaBank Deutsche Girozentrale now owns 62,445 shares of the real estate investment trust's stock valued at $3,089,000 after acquiring an additional 12,006 shares in the last quarter. SG Americas Securities LLC grew its position in shares of Rexford Industrial Realty by 61.4% during the second quarter. SG Americas Securities LLC now owns 50,822 shares of the real estate investment trust's stock worth $2,266,000 after purchasing an additional 19,340 shares in the last quarter. Finally, Asset Management One Co. Ltd. raised its stake in Rexford Industrial Realty by 15.8% during the 3rd quarter. Asset Management One Co. Ltd. now owns 471,682 shares of the real estate investment trust's stock valued at $23,730,000 after purchasing an additional 64,264 shares during the period. Hedge funds and other institutional investors own 99.52% of the company's stock.

Analysts Set New Price Targets

Several research firms have recently commented on REXR. Industrial Alliance Securities set a $55.00 target price on shares of Rexford Industrial Realty in a report on Friday, October 18th. Mizuho cut 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. Evercore ISI reiterated an "outperform" rating on shares of Rexford Industrial Realty in a research report on Friday, October 18th. Wells Fargo & Company cut their price target on Rexford Industrial Realty from $66.00 to $61.00 and set an "overweight" rating for the company in a report on Wednesday, August 28th. Finally, Scotiabank downgraded Rexford Industrial Realty from a "sector outperform" rating to a "sector perform" rating and reduced their price objective for the stock from $55.00 to $48.00 in a research note on Friday, October 25th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $51.09.

Rexford Industrial Realty Price Performance

Shares of REXR opened at $42.08 on Friday. The company has a 50 day moving average of $46.16 and a two-hundred day moving average of $46.98. The company has a market cap of $9.36 billion, a price-to-earnings ratio of 34.21, a price-to-earnings-growth ratio of 1.99 and a beta of 0.94. 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, Inc. has a twelve month low of $41.16 and a twelve month high of $58.02.

Rexford Industrial Realty (NYSE:REXR - Get Free Report) last announced its 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 business had revenue of $241.84 million for 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 company's quarterly revenue was up 17.7% on a year-over-year basis. During the same period in the prior year, the company earned $0.56 earnings per share. 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 business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be issued a $0.4175 dividend. 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 3.97%. Rexford Industrial Realty's dividend payout ratio is currently 135.77%.

Insider Buying and Selling

In other Rexford Industrial Realty news, CFO Laura E. Clark sold 14,185 shares of the company's 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 available through this hyperlink. 1.20% of the stock is currently owned by company insiders.

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.