Impax Asset Management Group plc Acquires New Holdings in Rexford Industrial Realty, Inc. (NYSE:REXR)

Impax Asset Management Group plc acquired a new stake in shares of Rexford Industrial Realty, Inc. (NYSE:REXR) during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 13,260 shares of the real estate investment trust’s stock, valued at approximately $667,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. raised its stake in shares of Rexford Industrial Realty by 2.6% during the first quarter. Vanguard Group Inc. now owns 29,734,952 shares of the real estate investment trust’s stock valued at $1,495,668,000 after purchasing an additional 753,098 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in Rexford Industrial Realty by 26.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 19,933,431 shares of the real estate investment trust’s stock worth $1,002,654,000 after acquiring an additional 4,197,907 shares during the period. Capital International Investors grew its holdings in Rexford Industrial Realty by 687.7% during the first quarter. Capital International Investors now owns 19,590,676 shares of the real estate investment trust’s stock worth $985,411,000 after acquiring an additional 17,103,653 shares during the period. Centersquare Investment Management LLC grew its holdings in Rexford Industrial Realty by 1.1% during the first quarter. Centersquare Investment Management LLC now owns 3,938,026 shares of the real estate investment trust’s stock worth $198,083,000 after acquiring an additional 42,632 shares during the period. Finally, Dimensional Fund Advisors LP grew its holdings in Rexford Industrial Realty by 6.4% during the second quarter. Dimensional Fund Advisors LP now owns 3,326,694 shares of the real estate investment trust’s stock worth $148,337,000 after acquiring an additional 200,027 shares during the period. 99.52% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. StockNews.com lowered Rexford Industrial Realty from a “hold” rating to a “sell” rating in a report on Monday, October 21st. Industrial Alliance Securities set a $55.00 target price on Rexford Industrial Realty in a report on Friday, October 18th. Mizuho lowered their target price on Rexford Industrial Realty from $50.00 to $49.00 and set a “neutral” rating on the stock in a report on Thursday, September 5th. Scotiabank downgraded Rexford Industrial Realty from a “sector outperform” rating to a “sector perform” rating and cut their price objective for the stock from $55.00 to $48.00 in a report on Friday, October 25th. Finally, Evercore ISI restated an “outperform” rating on shares of Rexford Industrial Realty in a report on Friday, October 18th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, Rexford Industrial Realty presently has an average rating of “Hold” and a consensus target price of $51.45.

Rexford Industrial Realty Price Performance

Shares of REXR opened at $42.70 on Thursday. The company has a market capitalization of $9.50 billion, a price-to-earnings ratio of 34.72, a P/E/G ratio of 2.06 and a beta of 0.94. Rexford Industrial Realty, Inc. has a fifty-two week low of $41.89 and a fifty-two week high of $58.02. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.20 and a quick ratio of 1.20. The business’s 50-day moving average is $48.07 and its 200-day moving average is $47.09.

Rexford Industrial Realty (NYSE:REXR) last issued its earnings results on Wednesday, October 16th. The real estate investment trust reported $0.30 earnings per share for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.28). The business had revenue of $241.84 million during the quarter, compared to analyst estimates of $235.81 million. Rexford Industrial Realty had a net margin of 30.40% and a return on equity of 3.35%. Rexford Industrial Realty’s revenue for the quarter was up 17.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.56 EPS. Equities research analysts expect that Rexford Industrial Realty, Inc. will post 2.34 EPS for the current fiscal year.

Rexford Industrial Realty Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be paid a $0.4175 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $1.67 annualized dividend and a dividend yield of 3.91%. Rexford Industrial Realty’s payout ratio is 135.77%.

Insider Activity at Rexford Industrial Realty

In related news, CFO Laura E. Clark sold 14,185 shares of the business’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $50.15, for a total value of $711,377.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.20% of the stock is currently owned by company insiders.

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.