Rexford Industrial Realty, Inc. (NYSE:REXR) Shares Bought by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Rexford Industrial Realty, Inc. (NYSE:REXR) by 6.6% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 90,491 shares of the real estate investment trust’s stock after purchasing an additional 5,613 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Rexford Industrial Realty were worth $4,035,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. Tower Research Capital LLC TRC increased its stake in Rexford Industrial Realty by 116.1% in the fourth quarter. Tower Research Capital LLC TRC now owns 46,150 shares of the real estate investment trust’s stock valued at $2,589,000 after purchasing an additional 24,793 shares during the period. M&G Plc acquired a new position in Rexford Industrial Realty in the first quarter valued at $33,644,000. First Financial Bank Trust Division acquired a new position in Rexford Industrial Realty in the first quarter valued at $2,551,000. GSI Capital Advisors LLC increased its stake in Rexford Industrial Realty by 45.0% in the fourth quarter. GSI Capital Advisors LLC now owns 191,054 shares of the real estate investment trust’s stock valued at $10,718,000 after purchasing an additional 59,320 shares during the period. Finally, Magnetar Financial LLC acquired a new position in Rexford Industrial Realty in the first quarter valued at $1,671,000. 99.52% of the stock is currently owned by institutional investors and hedge funds.

Rexford Industrial Realty Trading Up 1.5 %

NYSE:REXR opened at $50.90 on Friday. Rexford Industrial Realty, Inc. has a 52-week low of $41.56 and a 52-week high of $58.02. The company has a quick ratio of 1.73, a current ratio of 1.73 and a debt-to-equity ratio of 0.41. The stock has a fifty day simple moving average of $48.62 and a 200-day simple moving average of $47.85. The company has a market capitalization of $11.09 billion, a PE ratio of 46.70, a price-to-earnings-growth ratio of 2.06 and a beta of 0.92.

Rexford Industrial Realty (NYSE:REXR) last announced its earnings results on Wednesday, July 17th. The real estate investment trust reported $0.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.21). The business had revenue of $237.60 million for the quarter, compared to analyst estimates of $227.70 million. Rexford Industrial Realty had a return on equity of 3.31% and a net margin of 30.71%. The business’s revenue was up 21.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.54 EPS. On average, equities research analysts expect that Rexford Industrial Realty, Inc. will post 2.35 earnings per share for the current fiscal year.

Rexford Industrial Realty Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th will be issued a dividend of $0.4175 per share. This represents a $1.67 dividend on an annualized basis and a yield of 3.28%. The ex-dividend date of this dividend is Monday, September 30th. This is a boost from Rexford Industrial Realty’s previous quarterly dividend of $0.42. Rexford Industrial Realty’s dividend payout ratio is 153.21%.

Insiders Place Their Bets

In other news, CEO Howard Schwimmer sold 30,358 shares of the company’s stock in a transaction on Friday, July 26th. The stock was sold at an average price of $48.86, for a total value of $1,483,291.88. Following the sale, the chief executive officer now directly owns 50,673 shares in the company, valued at $2,475,882.78. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.20% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the stock. Wells Fargo & Company dropped their price target on shares of Rexford Industrial Realty from $66.00 to $61.00 and set an “overweight” rating on the stock in a research note on Wednesday. Evercore ISI raised their price target on Rexford Industrial Realty from $55.00 to $57.00 and gave the company an “outperform” rating in a report on Wednesday. JPMorgan Chase & Co. upped their price objective on Rexford Industrial Realty from $47.00 to $52.00 and gave the stock a “neutral” rating in a report on Thursday, July 25th. StockNews.com upgraded Rexford Industrial Realty from a “sell” rating to a “hold” rating in a research report on Monday, July 22nd. Finally, Scotiabank boosted their target price on shares of Rexford Industrial Realty from $51.00 to $55.00 and gave the stock a “sector outperform” rating in a research report on Monday, August 26th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $54.09.

Rexford Industrial Realty Company 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.