Fmr LLC Grows Holdings in Rexford Industrial Realty, Inc. (NYSE:REXR)

Fmr LLC raised its position in Rexford Industrial Realty, Inc. (NYSE:REXR) by 243.8% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 275,669 shares of the real estate investment trust’s stock after buying an additional 195,496 shares during the period. Fmr LLC’s holdings in Rexford Industrial Realty were worth $13,869,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in REXR. V Square Quantitative Management LLC acquired a new stake in shares of Rexford Industrial Realty in the second quarter valued at about $26,000. UMB Bank n.a. increased its stake in shares of Rexford Industrial Realty by 164.3% during the third quarter. UMB Bank n.a. now owns 719 shares of the real estate investment trust’s stock worth $36,000 after purchasing an additional 447 shares in the last quarter. Headlands Technologies LLC purchased a new stake in shares of Rexford Industrial Realty during the second quarter worth about $41,000. CWM LLC increased its stake in shares of Rexford Industrial Realty by 73.9% during the second quarter. CWM LLC now owns 1,485 shares of the real estate investment trust’s stock worth $66,000 after purchasing an additional 631 shares in the last quarter. Finally, Fifth Third Bancorp increased its stake in shares of Rexford Industrial Realty by 42.4% during the second quarter. Fifth Third Bancorp now owns 1,741 shares of the real estate investment trust’s stock worth $78,000 after purchasing an additional 518 shares in the last quarter. Hedge funds and other institutional investors own 99.52% of the company’s stock.

Rexford Industrial Realty Stock Performance

Rexford Industrial Realty stock opened at $41.18 on Wednesday. The firm has a 50 day simple moving average of $43.93 and a 200-day simple moving average of $46.71. Rexford Industrial Realty, Inc. has a 1-year low of $39.85 and a 1-year 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 stock has a market cap of $9.16 billion, a price-to-earnings ratio of 33.48, a price-to-earnings-growth ratio of 1.90 and a beta of 0.93.

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

Rexford Industrial Realty Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders 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 dividend yield of 4.06%. Rexford Industrial Realty’s dividend payout ratio is currently 135.77%.

Analyst Ratings Changes

REXR has been the subject of a number of research reports. Wells Fargo & Company cut their target price on shares of Rexford Industrial Realty from $66.00 to $61.00 and set an “overweight” rating for the company in a research note on Wednesday, August 28th. StockNews.com cut shares of Rexford Industrial Realty from a “hold” rating to a “sell” rating in a research note on Monday, October 21st. Truist Financial dropped their price objective on shares of Rexford Industrial Realty from $54.00 to $50.00 and set a “buy” rating for the company in a research note on Tuesday, November 12th. Industrial Alliance Securities set a $55.00 price objective on shares of Rexford Industrial Realty in a research note on Friday, October 18th. Finally, Bank of America cut shares of Rexford Industrial Realty from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $66.00 to $49.00 in a research note on Monday, October 21st. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $51.09.

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.