Thrivent Financial for Lutherans Increases Holdings in Rexford Industrial Realty, Inc. (NYSE:REXR)

Thrivent Financial for Lutherans grew its position in shares of Rexford Industrial Realty, Inc. (NYSE:REXR - Free Report) by 160.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 270,164 shares of the real estate investment trust's stock after buying an additional 166,604 shares during the quarter. Thrivent Financial for Lutherans owned approximately 0.12% of Rexford Industrial Realty worth $13,592,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of REXR. Price T Rowe Associates Inc. MD boosted its holdings in Rexford Industrial Realty by 26.7% in the first quarter. Price T Rowe Associates Inc. MD now owns 19,933,431 shares of the real estate investment trust's stock valued at $1,002,654,000 after acquiring an additional 4,197,907 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in Rexford Industrial Realty by 6.4% in the second quarter. Dimensional Fund Advisors LP now owns 3,326,694 shares of the real estate investment trust's stock valued at $148,337,000 after acquiring an additional 200,027 shares during the period. Canada Pension Plan Investment Board increased its stake in Rexford Industrial Realty by 41.9% during the 2nd quarter. Canada Pension Plan Investment Board now owns 3,175,465 shares of the real estate investment trust's stock worth $141,594,000 after purchasing an additional 938,177 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its stake in Rexford Industrial Realty by 38.0% in the second quarter. Massachusetts Financial Services Co. MA now owns 2,907,560 shares of the real estate investment trust's stock valued at $129,648,000 after buying an additional 800,137 shares in the last quarter. Finally, Boston Partners boosted its holdings in shares of Rexford Industrial Realty by 4.3% in the first quarter. Boston Partners now owns 2,890,685 shares of the real estate investment trust's stock valued at $145,353,000 after buying an additional 118,120 shares during the period. Institutional investors and hedge funds own 99.52% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. StockNews.com cut shares of Rexford Industrial Realty from a "hold" rating to a "sell" rating in a research note on Monday, October 21st. Evercore ISI reiterated an "outperform" rating on shares of Rexford Industrial Realty in a research note on Friday, October 18th. Industrial Alliance Securities set a $55.00 price objective on shares of Rexford Industrial Realty in a research note on Friday, October 18th. Wells Fargo & Company lowered their target price on Rexford Industrial Realty from $66.00 to $61.00 and set an "overweight" rating on the stock in a research report on Wednesday, August 28th. Finally, Scotiabank cut Rexford Industrial Realty from a "sector outperform" rating to a "sector perform" rating and reduced their price target for the company from $55.00 to $48.00 in a research report on Friday, October 25th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $51.09.

Insider Activity at Rexford Industrial Realty

In related news, CFO Laura E. Clark sold 14,185 shares of the firm'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 Securities & Exchange Commission, which is accessible through this link. 1.20% of the stock is currently owned by company insiders.

Rexford Industrial Realty Price Performance

Shares of REXR traded down $0.71 during midday trading on Thursday, hitting $41.97. The company's stock had a trading volume of 1,610,789 shares, compared to its average volume of 1,725,335. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 0.40. The stock has a market capitalization of $9.33 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, Inc. has a one year low of $41.16 and a one year high of $58.02. The company's fifty day simple moving average is $46.48 and its two-hundred day simple moving average is $47.03.

Rexford Industrial Realty (NYSE:REXR - Get Free Report) last announced its quarterly earnings results on Wednesday, October 16th. The real estate investment trust reported $0.30 EPS for the quarter, missing analysts' consensus estimates 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 firm had revenue of $241.84 million for the quarter, compared to analyst estimates of $235.81 million. During the same period in the previous year, the business posted $0.56 earnings per share. The business's revenue for the quarter was up 17.7% compared to the same quarter last year. As a group, 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 business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be given a $0.4175 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $1.67 dividend on an annualized basis and a dividend yield of 3.98%. Rexford Industrial Realty's dividend payout ratio (DPR) is presently 135.77%.

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.