Teachers Insurance & Annuity Association of America raised its position in shares of Rexford Industrial Realty Inc (NYSE:REXR) by 414.9% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 439,469 shares of the real estate investment trust’s stock after buying an additional 354,119 shares during the quarter. Rexford Industrial Realty comprises about 2.1% of Teachers Insurance & Annuity Association of America’s investment portfolio, making the stock its 14th largest holding. Teachers Insurance & Annuity Association of America’s holdings in Rexford Industrial Realty were worth $17,741,000 at the end of the most recent reporting period.
Several other large investors have also recently added to or reduced their stakes in REXR. Centersquare Investment Management LLC grew its stake in shares of Rexford Industrial Realty by 7,328.9% during the second quarter. Centersquare Investment Management LLC now owns 456,879 shares of the real estate investment trust’s stock worth $18,444,000 after acquiring an additional 450,729 shares during the last quarter. BlackRock Inc. grew its position in Rexford Industrial Realty by 2.9% during the 1st quarter. BlackRock Inc. now owns 10,881,149 shares of the real estate investment trust’s stock worth $389,654,000 after purchasing an additional 301,872 shares during the last quarter. Panagora Asset Management Inc. increased its stake in Rexford Industrial Realty by 8,054.7% during the 2nd quarter. Panagora Asset Management Inc. now owns 223,113 shares of the real estate investment trust’s stock valued at $9,007,000 after purchasing an additional 220,377 shares in the last quarter. PGGM Investments increased its stake in Rexford Industrial Realty by 4.8% during the 2nd quarter. PGGM Investments now owns 4,508,463 shares of the real estate investment trust’s stock valued at $182,007,000 after purchasing an additional 205,093 shares in the last quarter. Finally, Principal Financial Group Inc. increased its stake in Rexford Industrial Realty by 5.6% during the 1st quarter. Principal Financial Group Inc. now owns 3,792,056 shares of the real estate investment trust’s stock valued at $135,794,000 after purchasing an additional 200,655 shares in the last quarter. Institutional investors and hedge funds own 99.00% of the company’s stock.
Shares of NYSE:REXR traded up $0.18 during trading on Wednesday, hitting $43.39. The stock had a trading volume of 448,149 shares, compared to its average volume of 526,112. Rexford Industrial Realty Inc has a 12-month low of $28.17 and a 12-month high of $44.92. The stock has a market capitalization of $4.86 billion, a price-to-earnings ratio of 38.74, a price-to-earnings-growth ratio of 5.07 and a beta of 0.80. The company has a quick ratio of 7.17, a current ratio of 7.17 and a debt-to-equity ratio of 0.34. The stock has a 50-day simple moving average of $42.74 and a two-hundred day simple moving average of $39.05.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th will be paid a $0.185 dividend. The ex-dividend date of this dividend is Friday, September 27th. This represents a $0.74 dividend on an annualized basis and a dividend yield of 1.71%. Rexford Industrial Realty’s payout ratio is currently 66.07%.
In other Rexford Industrial Realty news, CEO Howard Schwimmer sold 23,600 shares of Rexford Industrial Realty stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $41.70, for a total transaction of $984,120.00. Following the completion of the transaction, the chief executive officer now owns 68,958 shares in the company, valued at approximately $2,875,548.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 1.70% of the stock is owned by corporate insiders.
Several equities research analysts have recently commented on REXR shares. Stifel Nicolaus lifted their price objective on shares of Rexford Industrial Realty from $41.00 to $46.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Zacks Investment Research downgraded Rexford Industrial Realty from a “buy” rating to a “hold” rating in a research report on Thursday, July 11th. Three equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $42.67.
Rexford Industrial Realty Company Profile
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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