Bessemer Group Inc. Purchases 405 Shares of Rexford Industrial Realty, Inc. (NYSE:REXR)

Bessemer Group Inc. increased its position in Rexford Industrial Realty, Inc. (NYSE:REXR) by 118.4% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 747 shares of the real estate investment trust’s stock after purchasing an additional 405 shares during the period. Bessemer Group Inc.’s holdings in Rexford Industrial Realty were worth $29,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in shares of Rexford Industrial Realty by 1.9% in the 4th quarter. Vanguard Group Inc. now owns 29,931,981 shares of the real estate investment trust’s stock worth $1,157,170,000 after purchasing an additional 562,710 shares in the last quarter. Centersquare Investment Management LLC lifted its holdings in shares of Rexford Industrial Realty by 32.3% in the 4th quarter. Centersquare Investment Management LLC now owns 4,492,166 shares of the real estate investment trust’s stock worth $173,667,000 after purchasing an additional 1,097,349 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Rexford Industrial Realty by 1.7% in the 4th quarter. Geode Capital Management LLC now owns 4,144,754 shares of the real estate investment trust’s stock worth $160,282,000 after purchasing an additional 70,710 shares in the last quarter. Rush Island Management LP purchased a new stake in Rexford Industrial Realty in the 4th quarter valued at $132,701,000. Finally, Massachusetts Financial Services Co. MA lifted its stake in Rexford Industrial Realty by 0.8% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 3,367,298 shares of the real estate investment trust’s stock valued at $130,180,000 after acquiring an additional 28,079 shares in the last quarter. 99.52% of the stock is currently owned by institutional investors.

Rexford Industrial Realty Trading Up 0.3%

Shares of REXR opened at $37.13 on Friday. The business has a 50-day moving average of $35.52 and a 200 day moving average of $37.41. Rexford Industrial Realty, Inc. has a fifty-two week low of $29.68 and a fifty-two week high of $52.61. The firm has a market cap of $8.79 billion, a P/E ratio of 29.94, a price-to-earnings-growth ratio of 3.41 and a beta of 1.13. The company has a debt-to-equity ratio of 0.37, a quick ratio of 4.90 and a current ratio of 4.90.

Rexford Industrial Realty (NYSE:REXR) last announced its quarterly earnings data on Wednesday, April 16th. The real estate investment trust reported $0.62 earnings per share for the quarter, topping the consensus estimate of $0.57 by $0.05. Rexford Industrial Realty had a return on equity of 3.31% and a net margin of 28.96%. The company had revenue of $248.82 million during the quarter, compared to analyst estimates of $246.74 million. As a group, research analysts forecast that Rexford Industrial Realty, Inc. will post 2.38 EPS for the current year.

Rexford Industrial Realty Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th will be issued a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a yield of 4.63%. The ex-dividend date is Monday, June 30th. Rexford Industrial Realty’s payout ratio is presently 138.71%.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Wells Fargo & Company dropped their price objective on Rexford Industrial Realty from $45.00 to $39.00 and set an “overweight” rating on the stock in a research note on Monday, May 19th. Robert W. Baird set a $43.00 price objective on Rexford Industrial Realty in a research note on Tuesday, May 6th. Industrial Alliance Securities set a $38.00 price objective on Rexford Industrial Realty in a research note on Tuesday, March 25th. Evercore ISI dropped their price objective on Rexford Industrial Realty from $43.00 to $40.00 and set an “outperform” rating on the stock in a research note on Monday, April 21st. Finally, Scotiabank dropped their price objective on Rexford Industrial Realty from $39.00 to $37.00 and set a “sector perform” rating on the stock in a research note on Monday, May 12th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, Rexford Industrial Realty presently has a consensus rating of “Hold” and an average target price of $40.00.

About Rexford Industrial Realty

Rexford Industrial Realty, Inc is a self-administered and self-managed real estate investment trust, which engages in owning and operating industrial properties in infill markets. The company was founded by Richard S. Ziman on January 18, 2013 and is headquartered in Los Angeles, CA.