Davis Selected Advisers Purchases 24,030 Shares of Rexford Industrial Realty, Inc. (NYSE:REXR)

Key Points

• Davis Selected Advisers increased its stake in Rexford Industrial Realty by 7.1%, holding a total of 363,620 shares valued at approximately $14.2 million.
• Several large investors, including MassMutual and Bessemer Group, significantly heightened their positions in Rexford, which is now 99.52% owned by institutional investors.
• The company has announced a quarterly dividend of $0.43 per share, with an annualized yield of 4.7%, scheduled for payment on October 15th.

Davis Selected Advisers increased its stake in shares of Rexford Industrial Realty, Inc. (NYSE:REXR - Free Report) by 7.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 363,620 shares of the real estate investment trust's stock after acquiring an additional 24,030 shares during the quarter. Davis Selected Advisers owned about 0.15% of Rexford Industrial Realty worth $14,236,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of REXR. MassMutual Private Wealth & Trust FSB grew its position in Rexford Industrial Realty by 332.9% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 736 shares of the real estate investment trust's stock worth $29,000 after purchasing an additional 566 shares during the last quarter. Bessemer Group Inc. grew its position in Rexford Industrial Realty by 118.4% in the 1st quarter. Bessemer Group Inc. now owns 747 shares of the real estate investment trust's stock worth $29,000 after purchasing an additional 405 shares during the last quarter. Private Trust Co. NA boosted its stake in Rexford Industrial Realty by 95.6% during the first quarter. Private Trust Co. NA now owns 757 shares of the real estate investment trust's stock worth $30,000 after buying an additional 370 shares in the last quarter. GAMMA Investing LLC boosted its stake in Rexford Industrial Realty by 211.2% during the first quarter. GAMMA Investing LLC now owns 1,441 shares of the real estate investment trust's stock worth $56,000 after buying an additional 978 shares in the last quarter. Finally, Avalon Trust Co acquired a new stake in Rexford Industrial Realty during the first quarter worth $66,000. 99.52% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on REXR shares. Wells Fargo & Company decreased their price target on shares of Rexford Industrial Realty from $45.00 to $39.00 and set an "overweight" rating on the stock in a research note on Monday, May 19th. JPMorgan Chase & Co. decreased their price target on shares of Rexford Industrial Realty from $44.00 to $37.00 and set a "neutral" rating on the stock in a research note on Thursday, April 24th. Robert W. Baird set a $43.00 price target on shares of Rexford Industrial Realty in a research note on Tuesday, May 6th. Evercore ISI downgraded shares of Rexford Industrial Realty from an "outperform" rating to an "in-line" rating and reduced their target price for the company from $39.00 to $38.00 in a research note on Friday, July 18th. Finally, Barclays reduced their target price on shares of Rexford Industrial Realty from $38.00 to $35.00 and set an "underweight" rating on the stock in a research note on Wednesday, April 30th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $39.82.

Insiders Place Their Bets

In other Rexford Industrial Realty news, General Counsel David E. Lanzer sold 26,449 shares of the business's stock in a transaction dated Monday, July 21st. The stock was sold at an average price of $36.87, for a total transaction of $975,174.63. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 1.20% of the company's stock.

Rexford Industrial Realty Stock Performance

Rexford Industrial Realty stock opened at $36.90 on Friday. The stock has a 50-day simple moving average of $36.62 and a 200 day simple moving average of $37.13. The company has a quick ratio of 5.59, a current ratio of 5.59 and a debt-to-equity ratio of 0.37. Rexford Industrial Realty, Inc. has a 12-month low of $29.68 and a 12-month high of $52.61. The stock has a market capitalization of $8.73 billion, a price-to-earnings ratio of 27.34, a P/E/G ratio of 4.08 and a beta of 1.10.

Rexford Industrial Realty (NYSE:REXR - Get Free Report) last released its quarterly earnings results on Wednesday, July 16th. The real estate investment trust reported $0.59 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.58 by $0.01. Rexford Industrial Realty had a return on equity of 3.62% and a net margin of 32.04%. The business had revenue of $241.57 million during the quarter, compared to analysts' expectations of $251.72 million. During the same period in the previous year, the business posted $0.60 earnings per share. The firm's revenue for the quarter was up 5.0% compared to the same quarter last year. On average, research analysts anticipate that Rexford Industrial Realty, Inc. will post 2.38 earnings per share for the current fiscal year.

Rexford Industrial Realty Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Tuesday, September 30th will be issued a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a yield of 4.7%. The ex-dividend date of this dividend is Tuesday, September 30th. Rexford Industrial Realty's payout ratio is currently 127.41%.

About Rexford Industrial Realty

Rexford Industrial Realty, Inc is a self-administered and self-managed real estate investment trust, which engages in owning and operating industrial properties in infill markets. The company was founded by Richard S. Ziman on January 18, 2013 and is headquartered in Los Angeles, CA.

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