Pacer Advisors Inc. increased its holdings in shares of Rexford Industrial Realty Inc (NYSE:REXR) by 42.8% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 67,048 shares of the real estate investment trust’s stock after acquiring an additional 20,086 shares during the period. Pacer Advisors Inc. owned about 0.06% of Rexford Industrial Realty worth $2,778,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. BlackRock Inc. grew its position in Rexford Industrial Realty by 2.4% during the 1st quarter. BlackRock Inc. now owns 12,352,902 shares of the real estate investment trust’s stock worth $506,591,000 after acquiring an additional 288,724 shares during the last quarter. PGGM Investments boosted its position in Rexford Industrial Realty by 4.9% in the 2nd quarter. PGGM Investments now owns 7,918,142 shares of the real estate investment trust’s stock valued at $328,049,000 after buying an additional 367,000 shares during the last quarter. Nuveen Asset Management LLC boosted its position in Rexford Industrial Realty by 23.4% in the 1st quarter. Nuveen Asset Management LLC now owns 6,176,916 shares of the real estate investment trust’s stock valued at $253,315,000 after buying an additional 1,169,978 shares during the last quarter. State Street Corp boosted its position in Rexford Industrial Realty by 13.1% in the 1st quarter. State Street Corp now owns 5,104,796 shares of the real estate investment trust’s stock valued at $210,398,000 after buying an additional 592,425 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its position in Rexford Industrial Realty by 5.3% in the 1st quarter. Principal Financial Group Inc. now owns 4,994,394 shares of the real estate investment trust’s stock valued at $204,820,000 after buying an additional 252,896 shares during the last quarter. Institutional investors and hedge funds own 98.86% of the company’s stock.
A number of research analysts have commented on the company. Citigroup decreased their price objective on Rexford Industrial Realty from $53.00 to $40.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 7th. Capital One Financial lowered Rexford Industrial Realty from an “overweight” rating to an “equal weight” rating and decreased their price objective for the company from $50.00 to $40.00 in a research report on Monday, May 4th. Zacks Investment Research upgraded Rexford Industrial Realty from a “hold” rating to a “buy” rating and set a $46.00 price target on the stock in a research report on Thursday, July 23rd. Finally, TheStreet upgraded Rexford Industrial Realty from a “c+” rating to a “b-” rating in a research report on Wednesday, July 1st. Four analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $43.75.
Rexford Industrial Realty (NYSE:REXR) last issued its quarterly earnings data on Tuesday, July 21st. The real estate investment trust reported $0.10 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.32 by ($0.22). The business had revenue of $79.95 million for the quarter, compared to analyst estimates of $78.22 million. Rexford Industrial Realty had a return on equity of 2.64% and a net margin of 21.93%. As a group, equities research analysts expect that Rexford Industrial Realty Inc will post 1.28 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Wednesday, September 30th will be paid a dividend of $0.215 per share. This represents a $0.86 annualized dividend and a yield of 1.83%. The ex-dividend date of this dividend is Tuesday, September 29th. Rexford Industrial Realty’s payout ratio is presently 69.92%.
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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