Bamco Inc. NY Has $76.77 Million Stake in Rexford Industrial Realty, Inc. (NYSE:REXR)

Bamco Inc. NY grew its holdings in shares of Rexford Industrial Realty, Inc. (NYSE:REXR - Free Report) by 18.4% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,526,016 shares of the real estate investment trust's stock after purchasing an additional 236,921 shares during the period. Bamco Inc. NY owned approximately 0.69% of Rexford Industrial Realty worth $76,774,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Edgestream Partners L.P. acquired a new position in Rexford Industrial Realty in the third quarter worth approximately $1,958,000. Verition Fund Management LLC grew its holdings in shares of Rexford Industrial Realty by 0.5% in the 3rd quarter. Verition Fund Management LLC now owns 215,695 shares of the real estate investment trust's stock worth $10,852,000 after acquiring an additional 1,144 shares during the last quarter. Infrastructure Capital Advisors LLC raised its position in shares of Rexford Industrial Realty by 18.9% during the third quarter. Infrastructure Capital Advisors LLC now owns 27,927 shares of the real estate investment trust's stock worth $1,405,000 after purchasing an additional 4,436 shares during the period. Isthmus Partners LLC lifted its holdings in shares of Rexford Industrial Realty by 17.2% during the third quarter. Isthmus Partners LLC now owns 6,418 shares of the real estate investment trust's stock valued at $323,000 after purchasing an additional 942 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Rexford Industrial Realty by 338.0% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,930,706 shares of the real estate investment trust's stock valued at $97,134,000 after purchasing an additional 1,489,876 shares during the period. 99.52% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Wells Fargo & Company cut their price objective on Rexford Industrial Realty from $66.00 to $61.00 and set an "overweight" rating on the stock in a report on Wednesday, August 28th. Truist Financial reduced their price target on shares of Rexford Industrial Realty from $54.00 to $50.00 and set a "buy" rating for the company in a research report on Tuesday, November 12th. Scotiabank cut shares of Rexford Industrial Realty from a "sector outperform" rating to a "sector perform" rating and lowered their price objective for the stock from $55.00 to $48.00 in a research report on Friday, October 25th. Mizuho decreased their price target on shares of Rexford Industrial Realty from $50.00 to $49.00 and set a "neutral" rating for the company in a report on Thursday, September 5th. Finally, Bank of America lowered Rexford Industrial Realty from a "buy" rating to a "neutral" rating and dropped their target price for the stock from $66.00 to $49.00 in a research report on Monday, October 21st. 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 stock. Based on data from MarketBeat.com, Rexford Industrial Realty currently has an average rating of "Hold" and a consensus price target of $51.09.

Rexford Industrial Realty Stock Performance

Shares of NYSE REXR traded down $0.04 during trading hours on Monday, hitting $42.04. 1,043,690 shares of the stock were exchanged, compared to its average volume of 1,727,439. Rexford Industrial Realty, Inc. has a one year low of $41.16 and a one year high of $58.02. The company's 50 day moving average is $45.27 and its 200 day moving average is $46.91. 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 firm has a market capitalization of $9.35 billion, a P/E ratio of 34.21, a P/E/G ratio of 1.99 and a beta of 0.94.

Rexford Industrial Realty (NYSE:REXR - Get Free Report) last issued 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 net margin of 30.40% and a return on equity of 3.35%. The business had revenue of $241.84 million during the quarter, compared to analyst estimates of $235.81 million. During the same period in the prior year, the business posted $0.56 earnings per share. The company's revenue for the quarter was up 17.7% compared to the same quarter last year. On average, research analysts expect that Rexford Industrial Realty, Inc. will post 2.34 EPS for the current year.

Rexford Industrial Realty Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be paid a $0.4175 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $1.67 annualized dividend and a dividend yield of 3.97%. Rexford Industrial Realty's payout ratio is 135.77%.

Insider Buying and Selling

In other news, CFO Laura E. Clark sold 14,185 shares of the business'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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.20% of the stock is currently owned by insiders.

Rexford Industrial Realty 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.