Credit Suisse AG decreased its position in Rexford Industrial Realty Inc (NASDAQ:REXR) by 0.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 342,559 shares of the company’s stock after selling 2,629 shares during the period. Credit Suisse AG owned approximately 0.52% of Rexford Industrial Realty worth $7,714,000 at the end of the most recent reporting period.
Other hedge funds have also modified their holdings of the company. BlackRock Inc. increased its position in shares of Rexford Industrial Realty by 1,607.5% in the first quarter. BlackRock Inc. now owns 5,832,562 shares of the company’s stock worth $131,347,000 after buying an additional 5,490,976 shares in the last quarter. Loomis Sayles & Co. L P bought a new position in shares of Rexford Industrial Realty during the first quarter worth approximately $8,304,000. Citadel Advisors LLC increased its position in shares of Rexford Industrial Realty by 881.8% in the first quarter. Citadel Advisors LLC now owns 377,015 shares of the company’s stock worth $8,490,000 after buying an additional 338,614 shares in the last quarter. Bank of America Corp DE increased its position in shares of Rexford Industrial Realty by 27.9% in the first quarter. Bank of America Corp DE now owns 817,941 shares of the company’s stock worth $18,419,000 after buying an additional 178,175 shares during the period. Finally, Wellington Management Group LLP increased its position in shares of Rexford Industrial Realty by 6.7% in the first quarter. Wellington Management Group LLP now owns 2,630,219 shares of the company’s stock worth $59,233,000 after buying an additional 164,973 shares during the period.
Rexford Industrial Realty Inc (REXR) traded up 0.018% on Friday, reaching $27.565. The company’s stock had a trading volume of 733,033 shares. Rexford Industrial Realty Inc has a 52-week low of $20.05 and a 52-week high of $29.02. The firm has a market capitalization of $1.95 billion and a P/E ratio of 59.026. The firm has a 50-day moving average price of $27.76 and a 200 day moving average price of $25.16.
Rexford Industrial Realty (NASDAQ:REXR) last released its quarterly earnings results on Tuesday, August 1st. The company reported $0.23 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.23. Rexford Industrial Realty had a return on equity of 1.96% and a net margin of 16.18%. The firm had revenue of $36.78 million for the quarter, compared to the consensus estimate of $36.75 million. During the same quarter last year, the business posted $0.22 EPS. The company’s revenue for the quarter was up 20.2% on a year-over-year basis. Equities analysts anticipate that Rexford Industrial Realty Inc will post $0.29 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, October 16th. Shareholders of record on Friday, September 29th will be paid a $0.145 dividend. This represents a $0.58 annualized dividend and a dividend yield of 2.10%. The ex-dividend date of this dividend is Thursday, September 28th.
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A number of brokerages recently issued reports on REXR. FBR & Co upped their price target on Rexford Industrial Realty from $26.00 to $27.00 and gave the company a “mkt perform” rating in a report on Tuesday. DA Davidson reissued a “buy” rating and issued a $33.00 price objective (up from $30.00) on shares of Rexford Industrial Realty in a report on Thursday, July 13th. Jefferies Group LLC reissued a “buy” rating and issued a $32.00 price objective on shares of Rexford Industrial Realty in a report on Tuesday, July 25th. Wunderlich reissued a “hold” rating and issued a $24.00 price objective (up from $22.00) on shares of Rexford Industrial Realty in a report on Tuesday, May 9th. Finally, Stifel Nicolaus restated a “buy” rating and set a $30.00 price target (up previously from $27.50) on shares of Rexford Industrial Realty in a research note on Wednesday, June 14th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Rexford Industrial Realty currently has a consensus rating of “Buy” and a consensus target price of $27.86.
Rexford Industrial Realty Company Profile
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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