OVERSEA CHINESE BANKING Corp Ltd Acquires Shares of 60,304 Rexford Industrial Realty, Inc. (NYSE:REXR)

OVERSEA CHINESE BANKING Corp Ltd bought a new position in Rexford Industrial Realty, Inc. (NYSE:REXR - Free Report) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 60,304 shares of the real estate investment trust's stock, valued at approximately $3,034,000.

Several other hedge funds have also modified their holdings of REXR. Massmutual Trust Co. FSB ADV raised its stake in shares of Rexford Industrial Realty by 169.4% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 555 shares of the real estate investment trust's stock worth $25,000 after acquiring an additional 349 shares in the last quarter. V Square Quantitative Management LLC acquired a new position in shares of Rexford Industrial Realty during the second quarter worth $26,000. UMB Bank n.a. lifted its holdings 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 during the last quarter. Headlands Technologies LLC acquired a new stake in shares of Rexford Industrial Realty in the 2nd quarter worth $41,000. Finally, EverSource Wealth Advisors LLC grew its stake in Rexford Industrial Realty by 1,252.2% during the 1st quarter. EverSource Wealth Advisors LLC now owns 933 shares of the real estate investment trust's stock worth $47,000 after buying an additional 864 shares during the last quarter. 99.52% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Rexford Industrial Realty

In other news, CFO Laura E. Clark sold 14,185 shares of the company's stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $50.15, for a total transaction of $711,377.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.20% of the stock is owned by company insiders.

Rexford Industrial Realty Stock Performance

REXR stock traded up $0.42 during trading on Wednesday, hitting $41.83. 2,150,141 shares of the company traded hands, compared to its average volume of 1,727,759. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.20 and a quick ratio of 1.20. Rexford Industrial Realty, Inc. has a 1 year low of $41.36 and a 1 year high of $58.02. The stock's 50-day simple moving average is $47.41 and its 200 day simple moving average is $47.10. The company has a market cap of $9.30 billion, a PE ratio of 34.03, a P/E/G ratio of 1.98 and a beta of 0.94.

Rexford Industrial Realty (NYSE:REXR - Get Free Report) last posted 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 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% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.56 earnings per share. On average, equities analysts expect 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 announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be given a dividend of $0.4175 per share. This represents a $1.67 dividend on an annualized basis and a dividend yield of 3.99%. The ex-dividend date is Tuesday, December 31st. Rexford Industrial Realty's dividend payout ratio (DPR) is presently 135.77%.

Analyst Upgrades and Downgrades

REXR has been the subject of several recent analyst reports. JPMorgan Chase & Co. raised their price target on Rexford Industrial Realty from $47.00 to $52.00 and gave the stock a "neutral" rating in a report on Thursday, July 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. Wells Fargo & Company lowered their price objective on shares of Rexford Industrial Realty from $66.00 to $61.00 and set an "overweight" rating for the company in a research note on Wednesday, August 28th. Evercore ISI reissued an "outperform" rating on shares of Rexford Industrial Realty in a research report on Friday, October 18th. Finally, Industrial Alliance Securities set a $55.00 price target on Rexford Industrial Realty in a research report on Friday, October 18th. Two investment 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's stock. According to MarketBeat.com, Rexford Industrial Realty has a consensus rating of "Hold" and an average price target 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.