Thrivent Financial for Lutherans Acquires 166,604 Shares of Rexford Industrial Realty, Inc. (NYSE:REXR)

Thrivent Financial for Lutherans lifted its holdings in shares of Rexford Industrial Realty, Inc. (NYSE:REXR) by 160.9% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 270,164 shares of the real estate investment trust’s stock after purchasing an additional 166,604 shares during the period. Thrivent Financial for Lutherans’ holdings in Rexford Industrial Realty were worth $13,592,000 as of its most recent filing with the SEC.

A number of other large investors also recently added to or reduced their stakes in REXR. Price T Rowe Associates Inc. MD boosted its position 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 valued at $1,002,654,000 after buying an additional 4,197,907 shares during the period. Canada Pension Plan Investment Board lifted its stake in shares of Rexford Industrial Realty by 262.7% in the 1st quarter. Canada Pension Plan Investment Board now owns 2,237,288 shares of the real estate investment trust’s stock valued at $112,536,000 after acquiring an additional 1,620,378 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in Rexford Industrial Realty by 38.0% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 2,907,560 shares of the real estate investment trust’s stock valued at $129,648,000 after acquiring an additional 800,137 shares during the period. Long Pond Capital LP grew its position in Rexford Industrial Realty by 137.8% during the 1st quarter. Long Pond Capital LP now owns 1,030,215 shares of the real estate investment trust’s stock worth $51,820,000 after acquiring an additional 596,958 shares during the last quarter. Finally, Daiwa Securities Group Inc. increased its stake in Rexford Industrial Realty by 52.5% in the 2nd quarter. Daiwa Securities Group Inc. now owns 1,210,795 shares of the real estate investment trust’s stock worth $53,990,000 after purchasing an additional 417,037 shares during the period. Hedge funds and other institutional investors own 99.52% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. JPMorgan Chase & Co. raised their target price on shares of 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 lowered shares of Rexford Industrial Realty from a “hold” rating to a “sell” rating in a report on Monday, October 21st. Mizuho dropped their target price on shares of Rexford Industrial Realty from $50.00 to $49.00 and set a “neutral” rating for the company in a report on Thursday, September 5th. Industrial Alliance Securities set a $55.00 price target on Rexford Industrial Realty in a report on Friday, October 18th. Finally, Scotiabank cut Rexford Industrial Realty from a “sector outperform” rating to a “sector perform” rating and dropped their price objective for the stock from $55.00 to $48.00 in a report on Friday, October 25th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, Rexford Industrial Realty currently has a consensus rating of “Hold” and an average price target of $51.09.

Rexford Industrial Realty Trading Down 0.6 %

NYSE REXR opened at $42.69 on Thursday. The firm has a market capitalization of $9.49 billion, a PE ratio of 34.70, a P/E/G ratio of 2.01 and a beta of 0.94. The stock’s 50 day moving average is $46.63 and its 200 day moving average is $47.07. Rexford Industrial Realty, Inc. has a twelve month low of $41.16 and a twelve month high of $58.02. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 0.40.

Rexford Industrial Realty (NYSE:REXR) last announced 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 for the quarter, compared to the consensus estimate 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 period in the prior year, the business posted $0.56 EPS. Research analysts forecast that Rexford Industrial Realty, Inc. will post 2.34 earnings per share for the current fiscal year.

Rexford Industrial Realty Announces Dividend

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

Insider Activity

In other news, CFO Laura E. Clark sold 14,185 shares of the company’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $50.15, for a total transaction of $711,377.75. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 1.20% of the company’s stock.

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.