Public Employees Retirement System of Ohio lifted its stake in Rexford Industrial Realty Inc (NYSE:REXR) by 46.4% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 168,968 shares of the real estate investment trust’s stock after buying an additional 53,528 shares during the quarter. Public Employees Retirement System of Ohio owned approximately 0.14% of Rexford Industrial Realty worth $7,000,000 at the end of the most recent reporting period.
Several other hedge funds also recently added to or reduced their stakes in REXR. Principal Financial Group Inc. increased its position in Rexford Industrial Realty by 65.6% in the second quarter. Principal Financial Group Inc. now owns 8,271,412 shares of the real estate investment trust’s stock worth $342,684,000 after purchasing an additional 3,277,018 shares during the last quarter. Invesco Ltd. increased its position in Rexford Industrial Realty by 45.1% in the first quarter. Invesco Ltd. now owns 4,547,008 shares of the real estate investment trust’s stock worth $186,474,000 after purchasing an additional 1,412,928 shares during the last quarter. Brookfield Asset Management Inc. bought a new stake in Rexford Industrial Realty in the second quarter worth $57,569,000. Nuveen Asset Management LLC increased its position in Rexford Industrial Realty by 23.4% in the first quarter. Nuveen Asset Management LLC now owns 6,176,916 shares of the real estate investment trust’s stock worth $253,315,000 after purchasing an additional 1,169,978 shares during the last quarter. Finally, State Street Corp increased its position in Rexford Industrial Realty by 13.1% in the first quarter. State Street Corp now owns 5,104,796 shares of the real estate investment trust’s stock worth $210,398,000 after purchasing an additional 592,425 shares during the last quarter. 98.73% of the stock is currently owned by hedge funds and other institutional investors.
REXR has been the topic of several research reports. TheStreet upgraded shares of Rexford Industrial Realty from a “c+” rating to a “b-” rating in a research report on Wednesday, July 1st. Zacks Investment Research upgraded shares of Rexford Industrial Realty from a “hold” rating to a “buy” rating and set a $51.00 price target on the stock in a research report on Tuesday. Four analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $45.00.
REXR stock opened at $47.17 on Wednesday. The company has a quick ratio of 7.69, a current ratio of 7.69 and a debt-to-equity ratio of 0.32. Rexford Industrial Realty Inc has a twelve month low of $31.79 and a twelve month high of $53.48. The stock has a market capitalization of $5.84 billion, a price-to-earnings ratio of 102.54, a price-to-earnings-growth ratio of 8.57 and a beta of 0.61. The firm’s fifty day simple moving average is $46.95 and its two-hundred day simple moving average is $42.47.
Rexford Industrial Realty (NYSE:REXR) last posted its quarterly earnings data on Tuesday, July 21st. The real estate investment trust reported $0.10 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.32 by ($0.22). Rexford Industrial Realty had a net margin of 21.93% and a return on equity of 2.64%. The firm had revenue of $79.95 million for the quarter, compared to the consensus estimate of $78.22 million. As a group, equities research analysts expect that Rexford Industrial Realty Inc will post 1.28 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Wednesday, September 30th will be given a dividend of $0.215 per share. This represents a $0.86 dividend on an annualized basis and a yield of 1.82%. The ex-dividend date of this dividend is Tuesday, September 29th. Rexford Industrial Realty’s dividend payout ratio (DPR) is 69.92%.
Rexford Industrial Realty Company Profile
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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