Vestcor Inc acquired a new stake in Rexford Industrial Realty, Inc. (NYSE:REXR - Free Report) in the 3rd quarter, according to its most recent disclosure with the SEC. The fund acquired 78,572 shares of the real estate investment trust's stock, valued at approximately $3,953,000.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. CWM LLC raised its stake in Rexford Industrial Realty by 73.9% in the second quarter. CWM LLC now owns 1,485 shares of the real estate investment trust's stock valued at $66,000 after purchasing an additional 631 shares in the last quarter. SG Americas Securities LLC lifted its holdings in shares of Rexford Industrial Realty by 61.4% during the 2nd quarter. SG Americas Securities LLC now owns 50,822 shares of the real estate investment trust's stock worth $2,266,000 after acquiring an additional 19,340 shares during the period. Wealth Enhancement Advisory Services LLC acquired a new stake in shares of Rexford Industrial Realty during the 2nd quarter worth approximately $424,000. V Square Quantitative Management LLC acquired a new stake in shares of Rexford Industrial Realty during the 2nd quarter worth approximately $26,000. Finally, Envestnet Portfolio Solutions Inc. increased its stake in Rexford Industrial Realty by 28.2% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 5,380 shares of the real estate investment trust's stock valued at $240,000 after acquiring an additional 1,185 shares during the last quarter. 99.52% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
REXR has been the topic of a number of research analyst reports. StockNews.com downgraded Rexford Industrial Realty from a "hold" rating to a "sell" rating in a report on Monday, October 21st. Evercore ISI reiterated an "outperform" rating on shares of Rexford Industrial Realty in a research report on Friday, October 18th. 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. Wells Fargo & Company reduced their price target on shares of Rexford Industrial Realty from $66.00 to $61.00 and set an "overweight" rating on the stock in a research note on Wednesday, August 28th. Finally, Industrial Alliance Securities set a $55.00 price objective on shares of Rexford Industrial Realty in a research report on Friday, October 18th. 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 stock. According to MarketBeat, Rexford Industrial Realty has a consensus rating of "Hold" and an average price target of $51.09.
Check Out Our Latest Analysis on REXR
Rexford Industrial Realty Trading Down 1.3 %
Shares of REXR stock traded down $0.52 during trading hours on Wednesday, hitting $40.68. 1,727,769 shares of the company's stock traded hands, compared to its average volume of 1,744,974. 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 12 month low of $39.85 and a 12 month high of $58.02. The stock has a market cap of $9.05 billion, a PE ratio of 33.07, a price-to-earnings-growth ratio of 1.90 and a beta of 0.93. The stock's 50 day simple moving average is $43.76 and its 200 day simple moving average is $46.67.
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 company had revenue of $241.84 million for the quarter, compared to the consensus estimate of $235.81 million. Rexford Industrial Realty had a return on equity of 3.35% and a net margin of 30.40%. The firm's revenue for the quarter was up 17.7% on a year-over-year basis. During the same period in the prior year, the business earned $0.56 earnings per share. On average, sell-side analysts anticipate that Rexford Industrial Realty, Inc. will post 2.34 EPS for the current year.
Rexford Industrial Realty Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders 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 yield of 4.11%. The ex-dividend date of this dividend is Tuesday, December 31st. Rexford Industrial Realty's dividend payout ratio is presently 135.77%.
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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