Bamco Inc. NY Increases Stake in Rexford Industrial Realty, Inc. (NYSE:REXR)

Bamco Inc. NY lifted its stake in shares of Rexford Industrial Realty, Inc. (NYSE:REXR) by 18.4% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 1,526,016 shares of the real estate investment trust’s stock after purchasing an additional 236,921 shares during the period. Bamco Inc. NY’s holdings in Rexford Industrial Realty were worth $76,774,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the company. M&G Plc grew its holdings in Rexford Industrial Realty by 12.2% during the 2nd quarter. M&G Plc now owns 754,952 shares of the real estate investment trust’s stock worth $33,973,000 after acquiring an additional 82,078 shares in the last quarter. DekaBank Deutsche Girozentrale grew its stake in shares of Rexford Industrial Realty by 23.8% during the first quarter. DekaBank Deutsche Girozentrale now owns 62,445 shares of the real estate investment trust’s stock worth $3,089,000 after purchasing an additional 12,006 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG purchased a new position in Rexford Industrial Realty in the third quarter valued at $3,376,000. SG Americas Securities LLC raised its stake in Rexford Industrial Realty by 61.4% in the second quarter. SG Americas Securities LLC now owns 50,822 shares of the real estate investment trust’s stock valued at $2,266,000 after buying an additional 19,340 shares in the last quarter. Finally, Asset Management One Co. Ltd. raised its stake in Rexford Industrial Realty by 15.8% in the third quarter. Asset Management One Co. Ltd. now owns 471,682 shares of the real estate investment trust’s stock valued at $23,730,000 after buying an additional 64,264 shares in the last quarter. 99.52% of the stock is currently owned by hedge funds and other institutional investors.

Rexford Industrial Realty Stock Down 1.1 %

REXR stock opened at $42.08 on Monday. The company has a market cap of $9.36 billion, a price-to-earnings ratio of 34.21, a price-to-earnings-growth ratio of 1.99 and a beta of 0.94. The company has a fifty day moving average price of $45.27 and a 200 day moving average price of $46.91. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.20 and a quick ratio of 1.20. Rexford Industrial Realty, Inc. has a 12 month low of $41.16 and a 12 month high of $58.02.

Rexford Industrial Realty (NYSE:REXR) last announced its earnings results on Wednesday, October 16th. The real estate investment trust reported $0.30 EPS for the quarter, missing analysts’ consensus estimates 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 business had revenue of $241.84 million during the quarter, compared to analysts’ expectations of $235.81 million. During the same period in the previous year, the company posted $0.56 earnings per share. Rexford Industrial Realty’s quarterly revenue was up 17.7% on a year-over-year basis. Sell-side analysts expect that Rexford Industrial Realty, Inc. will post 2.34 earnings per share for the current year.

Rexford Industrial Realty Announces Dividend

The business also recently announced 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 dividend yield of 3.97%. Rexford Industrial Realty’s dividend payout ratio (DPR) is currently 135.77%.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. StockNews.com cut Rexford Industrial Realty from a “hold” rating to a “sell” rating in a research report on Monday, October 21st. Wells Fargo & Company lowered their price target on Rexford Industrial Realty from $66.00 to $61.00 and set an “overweight” rating for the company in a report on Wednesday, August 28th. Scotiabank cut shares of 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. Mizuho reduced their price objective on shares of Rexford Industrial Realty from $50.00 to $49.00 and set a “neutral” rating for the company in a research report on Thursday, September 5th. Finally, Bank of America downgraded shares of Rexford Industrial Realty from a “buy” rating to a “neutral” rating and dropped their target price for the company from $66.00 to $49.00 in a research report on Monday, October 21st. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $51.09.

Insider Activity

In other news, CFO Laura E. Clark sold 14,185 shares of Rexford Industrial Realty stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $50.15, for a total value of $711,377.75. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 1.20% of the company’s stock.

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.