Geode Capital Management LLC boosted its position in shares of Rexford Industrial Realty, Inc. (NYSE:REXR - Free Report) by 1.9% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 4,074,044 shares of the real estate investment trust's stock after purchasing an additional 74,865 shares during the quarter. Geode Capital Management LLC owned about 1.83% of Rexford Industrial Realty worth $205,014,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors also recently added to or reduced their stakes in the company. UMB Bank n.a. lifted its stake in shares of Rexford Industrial Realty by 164.3% in the 3rd quarter. UMB Bank n.a. now owns 719 shares of the real estate investment trust's stock valued at $36,000 after purchasing an additional 447 shares during the period. Headlands Technologies LLC acquired a new position in Rexford Industrial Realty in the second quarter valued at about $41,000. CWM LLC boosted its holdings in 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 buying an additional 631 shares during the last quarter. Fifth Third Bancorp grew its position in shares of Rexford Industrial Realty by 42.4% during the 2nd quarter. Fifth Third Bancorp now owns 1,741 shares of the real estate investment trust's stock worth $78,000 after buying an additional 518 shares during the period. Finally, GAMMA Investing LLC increased its stake in shares of Rexford Industrial Realty by 111.7% in the 3rd quarter. GAMMA Investing LLC now owns 1,850 shares of the real estate investment trust's stock valued at $93,000 after acquiring an additional 976 shares during the last quarter. 99.52% of the stock is currently owned by institutional investors and hedge funds.
REXR stock opened at $40.87 on Monday. 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 capitalization of $9.09 billion, a P/E ratio of 33.23, a P/E/G ratio of 1.94 and a beta of 0.93. Rexford Industrial Realty, Inc. has a fifty-two week low of $39.85 and a fifty-two week high of $58.02. The business has a 50-day moving average of $43.44 and a 200-day moving average of $46.64.
Rexford Industrial Realty (NYSE:REXR - Get Free Report) last released its quarterly 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). Rexford Industrial Realty had a return on equity of 3.35% and a net margin of 30.40%. The firm had revenue of $241.84 million for the quarter, compared to analyst estimates of $235.81 million. During the same period last year, the company earned $0.56 EPS. The company's revenue was up 17.7% compared to the same quarter last year. On average, sell-side analysts anticipate that Rexford Industrial Realty, Inc. will post 2.34 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be paid a $0.4175 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $1.67 annualized dividend and a yield of 4.09%. Rexford Industrial Realty's payout ratio is currently 135.77%.
REXR has been the topic of several recent analyst reports. Bank of America lowered shares of Rexford Industrial Realty from a "buy" rating to a "neutral" rating and reduced their price objective for the stock from $66.00 to $49.00 in a research note on Monday, October 21st. Scotiabank lowered shares of Rexford Industrial Realty from a "sector outperform" rating to a "sector perform" rating and decreased their price target for the company from $55.00 to $48.00 in a report on Friday, October 25th. Mizuho dropped their price objective on Rexford Industrial Realty from $50.00 to $49.00 and set a "neutral" rating on the stock in a research note on Thursday, September 5th. Industrial Alliance Securities set a $55.00 target price on Rexford Industrial Realty in a report on Friday, October 18th. Finally, StockNews.com downgraded Rexford Industrial Realty from a "hold" rating to a "sell" rating in a report on Monday, October 21st. Two analysts have rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $51.09.
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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.
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