Cipher Capital LP boosted its position in shares of Rexford Industrial Realty, Inc. (NYSE:REXR) by 593.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 123,405 shares of the real estate investment trust’s stock after buying an additional 105,619 shares during the period. Cipher Capital LP owned 0.16% of Rexford Industrial Realty worth $3,532,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. SG Americas Securities LLC increased its position in Rexford Industrial Realty by 269.4% during the third quarter. SG Americas Securities LLC now owns 15,472 shares of the real estate investment trust’s stock worth $443,000 after buying an additional 11,284 shares during the period. Quantbot Technologies LP acquired a new position in Rexford Industrial Realty during the third quarter worth approximately $961,000. Russell Investments Group Ltd. increased its position in Rexford Industrial Realty by 0.9% during the third quarter. Russell Investments Group Ltd. now owns 1,455,329 shares of the real estate investment trust’s stock worth $41,655,000 after buying an additional 12,388 shares during the period. TCW Group Inc. acquired a new position in Rexford Industrial Realty during the third quarter worth approximately $686,000. Finally, Advisor Group Inc. increased its position in Rexford Industrial Realty by 87.0% during the third quarter. Advisor Group Inc. now owns 7,083 shares of the real estate investment trust’s stock worth $203,000 after buying an additional 3,296 shares during the period. 92.46% of the stock is currently owned by institutional investors.
Several research firms have commented on REXR. Stifel Nicolaus reaffirmed a “buy” rating and set a $33.00 price target (up previously from $30.00) on shares of Rexford Industrial Realty in a research report on Thursday, September 14th. Jefferies Group LLC reissued a “buy” rating and issued a $32.00 target price on shares of Rexford Industrial Realty in a report on Tuesday, July 25th. BidaskClub lowered Rexford Industrial Realty from a “buy” rating to a “hold” rating in a report on Wednesday, September 20th. FBR & Co boosted their target price on Rexford Industrial Realty from $26.00 to $27.00 and gave the company a “mkt perform” rating in a report on Tuesday, August 8th. Finally, J P Morgan Chase & Co lowered Rexford Industrial Realty from an “overweight” rating to a “neutral” rating and set a $29.00 target price on the stock. in a report on Tuesday, September 26th. Five research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $30.60.
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Rexford Industrial Realty, Inc. (NYSE REXR) traded down $0.20 during trading hours on Friday, hitting $30.19. The stock had a trading volume of 470,086 shares, compared to its average volume of 333,834. The firm has a market capitalization of $2,351.77, a price-to-earnings ratio of 32.12, a P/E/G ratio of 3.93 and a beta of 0.75. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.72 and a current ratio of 0.72. Rexford Industrial Realty, Inc. has a 1-year low of $21.34 and a 1-year high of $30.66.
Rexford Industrial Realty (NYSE:REXR) last released its earnings results on Tuesday, October 31st. The real estate investment trust reported $0.25 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.24 by $0.01. The business had revenue of $43.30 million for the quarter, compared to analyst estimates of $41.77 million. Rexford Industrial Realty had a return on equity of 3.39% and a net margin of 23.50%. The company’s revenue for the quarter was up 30.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.22 earnings per share. analysts expect that Rexford Industrial Realty, Inc. will post 0.96 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, January 15th. Investors of record on Friday, December 29th will be paid a $0.145 dividend. The ex-dividend date is Thursday, December 28th. This represents a $0.58 dividend on an annualized basis and a dividend yield of 1.92%. Rexford Industrial Realty’s dividend payout ratio (DPR) is presently 134.89%.
About Rexford Industrial Realty
Rexford Industrial Realty, Inc is a self-administered and self-managed full-service real estate investment trust (REIT). The Company is focused on owning, operating and acquiring industrial properties in Southern California infill markets. Rexford Industrial Realty, L.P. is the operating partnership of the Company.
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