Rexford Industrial Realty, Inc. (NYSE:REXR) Shares Purchased by Van ECK Associates Corp

Van ECK Associates Corp grew its stake in shares of Rexford Industrial Realty, Inc. (NYSE:REXR) by 15.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 79,137 shares of the real estate investment trust’s stock after buying an additional 10,828 shares during the quarter. Van ECK Associates Corp’s holdings in Rexford Industrial Realty were worth $4,440,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently made changes to their positions in the stock. Envestnet Asset Management Inc. grew its stake in shares of Rexford Industrial Realty by 139.5% in the 3rd quarter. Envestnet Asset Management Inc. now owns 232,848 shares of the real estate investment trust’s stock worth $11,491,000 after purchasing an additional 135,627 shares during the last quarter. Pacer Advisors Inc. increased its holdings in shares of Rexford Industrial Realty by 12.8% in the fourth quarter. Pacer Advisors Inc. now owns 207,609 shares of the real estate investment trust’s stock valued at $11,647,000 after buying an additional 23,510 shares in the last quarter. Louisiana State Employees Retirement System acquired a new stake in shares of Rexford Industrial Realty during the 4th quarter valued at $3,327,000. Daiwa Securities Group Inc. boosted its stake in shares of Rexford Industrial Realty by 1.5% during the 4th quarter. Daiwa Securities Group Inc. now owns 79,851 shares of the real estate investment trust’s stock worth $4,480,000 after acquiring an additional 1,171 shares in the last quarter. Finally, The Manufacturers Life Insurance Company grew its holdings in shares of Rexford Industrial Realty by 6.8% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 314,170 shares of the real estate investment trust’s stock worth $15,506,000 after acquiring an additional 19,981 shares during the last quarter. 99.52% of the stock is owned by institutional investors and hedge funds.

Rexford Industrial Realty Stock Up 2.1 %

REXR opened at $44.40 on Monday. The company has a market capitalization of $9.67 billion, a PE ratio of 40.73, a price-to-earnings-growth ratio of 1.94 and a beta of 0.89. The company has a debt-to-equity ratio of 0.41, a current ratio of 3.21 and a quick ratio of 3.21. Rexford Industrial Realty, Inc. has a fifty-two week low of $41.56 and a fifty-two week high of $58.02. The business has a 50-day moving average of $48.38 and a 200-day moving average of $50.25.

Rexford Industrial Realty (NYSE:REXR) last issued its quarterly earnings data on Thursday, April 18th. The real estate investment trust reported $0.27 earnings per share for the quarter, missing the consensus estimate of $0.57 by ($0.30). The business had revenue of $214.10 million for the quarter, compared to the consensus estimate of $207.39 million. Rexford Industrial Realty had a net margin of 28.84% and a return on equity of 3.04%. Rexford Industrial Realty’s revenue was up 15.0% compared to the same quarter last year. During the same period in the previous year, the business posted $0.52 EPS. Equities research analysts forecast that Rexford Industrial Realty, Inc. will post 2.34 EPS for the current fiscal year.

Rexford Industrial Realty Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Friday, June 28th will be given a dividend of $0.417 per share. This represents a $1.67 annualized dividend and a yield of 3.76%. The ex-dividend date of this dividend is Friday, June 28th. Rexford Industrial Realty’s payout ratio is 153.21%.

Insider Buying and Selling at Rexford Industrial Realty

In other news, General Counsel David E. Lanzer sold 18,113 shares of the company’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $52.69, for a total transaction of $954,373.97. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 1.20% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on REXR. Wedbush initiated coverage on Rexford Industrial Realty in a report on Monday, April 22nd. They set a “neutral” rating and a $45.00 target price for the company. Mizuho reissued a “neutral” rating and issued a $52.00 target price on shares of Rexford Industrial Realty in a research report on Tuesday, April 2nd. Robert W. Baird reduced their price target on shares of Rexford Industrial Realty from $57.00 to $49.00 and set a “neutral” rating for the company in a research report on Wednesday, May 1st. JPMorgan Chase & Co. cut shares of Rexford Industrial Realty from an “overweight” rating to a “neutral” rating and set a $55.00 price objective on the stock. in a research report on Wednesday, February 7th. Finally, TheStreet upgraded Rexford Industrial Realty from a “c+” rating to a “b-” rating in a report on Thursday, February 1st. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, Rexford Industrial Realty currently has a consensus rating of “Hold” and a consensus price target of $53.36.

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.