Thrivent Financial for Lutherans boosted its holdings in shares of Rexford Industrial Realty, Inc. (NYSE:REXR - Free Report) by 160.9% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 270,164 shares of the real estate investment trust's stock after buying an additional 166,604 shares during the period. Thrivent Financial for Lutherans owned approximately 0.12% of Rexford Industrial Realty worth $13,592,000 as of its most recent SEC filing.
Several other large investors also recently added to or reduced their stakes in REXR. Archer Investment Corp lifted its stake in Rexford Industrial Realty by 61.5% during the third quarter. Archer Investment Corp now owns 2,100 shares of the real estate investment trust's stock worth $106,000 after purchasing an additional 800 shares during the last quarter. Impax Asset Management Group plc bought a new stake in shares of Rexford Industrial Realty in the 3rd quarter valued at about $667,000. Metis Global Partners LLC lifted its stake in shares of Rexford Industrial Realty by 30.7% in the 3rd quarter. Metis Global Partners LLC now owns 22,547 shares of the real estate investment trust's stock valued at $1,134,000 after acquiring an additional 5,295 shares during the last quarter. Oppenheimer Asset Management Inc. lifted its stake in shares of Rexford Industrial Realty by 22.0% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 32,012 shares of the real estate investment trust's stock valued at $1,611,000 after acquiring an additional 5,778 shares during the last quarter. Finally, Ashton Thomas Private Wealth LLC bought a new stake in shares of Rexford Industrial Realty in the 3rd quarter valued at about $1,328,000. Institutional investors own 99.52% of the company's stock.
Rexford Industrial Realty Stock Down 0.6 %
REXR stock opened at $42.69 on Thursday. Rexford Industrial Realty, Inc. has a fifty-two week low of $41.16 and a fifty-two week high of $58.02. The business's 50 day moving average price is $46.63 and its two-hundred day moving average price is $47.07. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.20 and a current ratio of 1.20. The company has a market capitalization of $9.49 billion, a price-to-earnings ratio of 34.70, a price-to-earnings-growth ratio of 2.04 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 for the quarter, missing analysts' consensus estimates 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 analysts' expectations of $235.81 million. During the same quarter last year, the company posted $0.56 EPS. The firm's revenue was up 17.7% on a year-over-year basis. As a group, analysts forecast 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. Investors 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 3.91%. Rexford Industrial Realty's payout ratio is currently 135.77%.
Wall Street Analysts Forecast Growth
REXR has been the subject of a number of recent research reports. JPMorgan Chase & Co. boosted their target price on Rexford Industrial Realty from $47.00 to $52.00 and gave the company a "neutral" rating in a research note on Thursday, July 25th. Mizuho lowered their target price on Rexford Industrial Realty from $50.00 to $49.00 and set a "neutral" rating for the company in a research note on Thursday, September 5th. Evercore ISI reissued an "outperform" rating on shares of Rexford Industrial Realty in a research note on Friday, October 18th. Bank of America lowered Rexford Industrial Realty from a "buy" rating to a "neutral" rating and lowered their target price for the company from $66.00 to $49.00 in a research note on Monday, October 21st. Finally, StockNews.com downgraded Rexford Industrial Realty from a "hold" rating to a "sell" rating in a report on Monday, October 21st. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $51.09.
Get Our Latest Research Report on REXR
Insider Buying and Selling
In related 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 value of $711,377.75. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 1.20% of the stock is currently owned by company insiders.
About Rexford Industrial Realty
(
Free Report)
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.
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