Stevens Capital Management LP bought a new position in shares of Rexford Industrial Realty Inc (NYSE:REXR) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 5,891 shares of the real estate investment trust’s stock, valued at approximately $211,000.
Several other hedge funds have also recently bought and sold shares of REXR. Whittier Trust Co. boosted its stake in shares of Rexford Industrial Realty by 99.2% during the 4th quarter. Whittier Trust Co. now owns 1,243 shares of the real estate investment trust’s stock worth $37,000 after acquiring an additional 619 shares in the last quarter. Quantamental Technologies LLC purchased a new stake in shares of Rexford Industrial Realty during the 1st quarter worth about $60,000. Quadrant Capital Group LLC purchased a new stake in shares of Rexford Industrial Realty during the 1st quarter worth about $69,000. Nisa Investment Advisors LLC boosted its stake in shares of Rexford Industrial Realty by 289.0% during the 1st quarter. Nisa Investment Advisors LLC now owns 5,835 shares of the real estate investment trust’s stock worth $209,000 after acquiring an additional 4,335 shares in the last quarter. Finally, D.A. Davidson & CO. boosted its stake in shares of Rexford Industrial Realty by 6.5% during the 4th quarter. D.A. Davidson & CO. now owns 7,110 shares of the real estate investment trust’s stock worth $210,000 after acquiring an additional 435 shares in the last quarter. 97.50% of the stock is currently owned by institutional investors and hedge funds.
In related news, General Counsel David E. Lanzer sold 5,085 shares of the company’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $38.19, for a total transaction of $194,196.15. Following the completion of the transaction, the general counsel now owns 5,718 shares in the company, valued at approximately $218,370.42. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 1.70% of the stock is owned by corporate insiders.
Rexford Industrial Realty (NYSE:REXR) last released its quarterly earnings results on Tuesday, April 30th. The real estate investment trust reported $0.08 earnings per share for the quarter, missing the consensus estimate of $0.28 by ($0.20). Rexford Industrial Realty had a return on equity of 2.43% and a net margin of 18.77%. The company had revenue of $60.36 million for the quarter, compared to analyst estimates of $60.05 million. During the same quarter last year, the company earned $0.27 EPS. The firm’s revenue for the quarter was up 24.4% on a year-over-year basis. As a group, sell-side analysts expect that Rexford Industrial Realty Inc will post 1.2 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Friday, June 28th will be given a dividend of $0.185 per share. The ex-dividend date is Thursday, June 27th. This represents a $0.74 annualized dividend and a dividend yield of 1.94%. Rexford Industrial Realty’s dividend payout ratio (DPR) is presently 66.07%.
Several equities research analysts have recently issued reports on REXR shares. Zacks Investment Research lowered shares of Rexford Industrial Realty from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 25th. Wells Fargo & Co upped their price target on shares of Rexford Industrial Realty from $32.00 to $37.00 and gave the stock a “market perform” rating in a research report on Thursday, March 14th. They noted that the move was a valuation call. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $38.33.
About Rexford Industrial Realty
Rexford Industrial is a real estate investment trust focused on owning and operating industrial properties in Southern California infill markets. The Company owns 179 properties with approximately 22.1 million rentable square feet and manages an additional 20 properties with approximately 1.2 million rentable square feet.
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