Granite Investment Partners LLC lifted its stake in shares of Rexford Industrial Realty Inc (NYSE:REXR) by 56.8% during the fourth quarter, Holdings Channel reports. The fund owned 58,750 shares of the real estate investment trust’s stock after buying an additional 21,292 shares during the quarter. Granite Investment Partners LLC’s holdings in Rexford Industrial Realty were worth $2,683,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Pacer Advisors Inc. grew its stake in Rexford Industrial Realty by 58.9% in the fourth quarter. Pacer Advisors Inc. now owns 38,605 shares of the real estate investment trust’s stock valued at $1,763,000 after acquiring an additional 14,309 shares during the period. Amica Retiree Medical Trust bought a new position in shares of Rexford Industrial Realty in the 4th quarter worth $222,000. Amica Mutual Insurance Co. bought a new position in shares of Rexford Industrial Realty in the 4th quarter worth $1,049,000. Meitav Dash Investments Ltd. lifted its holdings in shares of Rexford Industrial Realty by 26.6% in the 4th quarter. Meitav Dash Investments Ltd. now owns 31,106 shares of the real estate investment trust’s stock worth $1,421,000 after purchasing an additional 6,533 shares in the last quarter. Finally, ETRADE Capital Management LLC grew its position in Rexford Industrial Realty by 4.8% in the 4th quarter. ETRADE Capital Management LLC now owns 16,139 shares of the real estate investment trust’s stock valued at $737,000 after purchasing an additional 743 shares during the period.
In other Rexford Industrial Realty news, Director Steven C. Good sold 2,268 shares of the company’s stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $50.60, for a total value of $114,760.80. Following the completion of the sale, the director now directly owns 20,875 shares of the company’s stock, valued at approximately $1,056,275. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel David E. Lanzer sold 7,361 shares of the company’s stock in a transaction dated Thursday, February 27th. The stock was sold at an average price of $47.97, for a total transaction of $353,107.17. Following the completion of the sale, the general counsel now directly owns 13,349 shares of the company’s stock, valued at $640,351.53. The disclosure for this sale can be found here. 1.70% of the stock is currently owned by company insiders.
Rexford Industrial Realty (NYSE:REXR) last announced its earnings results on Tuesday, February 11th. The real estate investment trust reported $0.18 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.31 by ($0.13). Rexford Industrial Realty had a net margin of 23.19% and a return on equity of 2.81%. The company had revenue of $74.40 million for the quarter, compared to analysts’ expectations of $71.31 million. As a group, research analysts anticipate that Rexford Industrial Realty Inc will post 1.34 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 15th. Investors of record on Tuesday, March 31st will be given a $0.215 dividend. This is a positive change from Rexford Industrial Realty’s previous quarterly dividend of $0.19. This represents a $0.86 dividend on an annualized basis and a yield of 1.84%. The ex-dividend date is Monday, March 30th. Rexford Industrial Realty’s dividend payout ratio is presently 60.16%.
A number of research firms have weighed in on REXR. Zacks Investment Research lowered shares of Rexford Industrial Realty from a “buy” rating to a “hold” rating in a research note on Thursday, January 23rd. JPMorgan Chase & Co. boosted their target price on shares of Rexford Industrial Realty from $43.00 to $47.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 3rd. Five research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $45.60.
About Rexford Industrial Realty
Rexford Industrial is a real estate investment trust focused on owning and operating industrial properties in Southern California infill markets. The Company owns 179 properties with approximately 22.1 million rentable square feet and manages an additional 20 properties with approximately 1.2 million rentable square feet.
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