Massachusetts Financial Services Co. MA Has $303.49 Million Stock Position in Rexford Industrial Realty, Inc. (NYSE:REXR)

Massachusetts Financial Services Co. MA grew its position in shares of Rexford Industrial Realty, Inc. (NYSE:REXR - Free Report) by 130.2% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 7,751,922 shares of the real estate investment trust's stock after acquiring an additional 4,384,624 shares during the quarter. Massachusetts Financial Services Co. MA owned 3.28% of Rexford Industrial Realty worth $303,488,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Teacher Retirement System of Texas raised its stake in shares of Rexford Industrial Realty by 198.3% during the 1st quarter. Teacher Retirement System of Texas now owns 39,028 shares of the real estate investment trust's stock worth $1,528,000 after purchasing an additional 25,945 shares in the last quarter. GAMMA Investing LLC raised its stake in shares of Rexford Industrial Realty by 211.2% during the 1st quarter. GAMMA Investing LLC now owns 1,441 shares of the real estate investment trust's stock worth $56,000 after purchasing an additional 978 shares in the last quarter. Bessemer Group Inc. raised its stake 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 valued at $29,000 after acquiring an additional 405 shares during the period. Oppenheimer Asset Management Inc. raised its stake in Rexford Industrial Realty by 40.5% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 36,792 shares of the real estate investment trust's stock valued at $1,440,000 after acquiring an additional 10,603 shares during the period. Finally, Raymond James Financial Inc. bought a new stake in Rexford Industrial Realty in the 4th quarter valued at $11,830,000. Institutional investors own 99.52% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on REXR. JPMorgan Chase & Co. dropped their price target on 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. Evercore ISI dropped their price target on Rexford Industrial Realty from $43.00 to $40.00 and set an "outperform" rating on the stock in a research note on Monday, April 21st. Scotiabank dropped their price target on Rexford Industrial Realty from $39.00 to $37.00 and set a "sector perform" rating on the stock in a research note on Monday, May 12th. Robert W. Baird set a $43.00 price target on Rexford Industrial Realty in a research note on Tuesday, May 6th. Finally, Barclays dropped their price target on 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 equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $40.00.

Rexford Industrial Realty Stock Up 0.1%

REXR stock opened at $37.11 on Tuesday. The company has a debt-to-equity ratio of 0.37, a current ratio of 4.90 and a quick ratio of 4.90. The stock has a market capitalization of $8.78 billion, a price-to-earnings ratio of 29.93, a PEG ratio of 3.40 and a beta of 1.13. The business's fifty day moving average price is $35.86 and its two-hundred day moving average price is $37.34. Rexford Industrial Realty, Inc. has a fifty-two week low of $29.68 and a fifty-two week high of $52.61.

Rexford Industrial Realty (NYSE:REXR - Get Free Report) last posted its quarterly earnings data on Wednesday, April 16th. The real estate investment trust reported $0.62 earnings per share for the quarter, topping the consensus estimate of $0.57 by $0.05. The firm had revenue of $248.82 million for the quarter, compared to analysts' expectations of $246.74 million. Rexford Industrial Realty had a return on equity of 3.31% and a net margin of 28.96%. On average, equities analysts anticipate that Rexford Industrial Realty, Inc. will post 2.38 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 Tuesday, July 15th. Stockholders of record on Monday, June 30th will be issued a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a dividend yield of 4.63%. The ex-dividend date of this dividend is Monday, June 30th. Rexford Industrial Realty's dividend payout ratio (DPR) is currently 138.71%.

Rexford Industrial Realty Company Profile

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.

Want to see what other hedge funds are holding REXR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Rexford Industrial Realty, Inc. (NYSE:REXR - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.