Massachusetts Financial Services Co. MA Acquires 4,384,624 Shares of Rexford Industrial Realty, Inc. (NYSE:REXR)

Massachusetts Financial Services Co. MA increased its holdings in shares of Rexford Industrial Realty, Inc. (NYSE:REXR - Free Report) by 130.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm 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 approximately 3.28% of Rexford Industrial Realty worth $303,488,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Vanguard Group Inc. grew its position in Rexford Industrial Realty by 1.9% in the 4th quarter. Vanguard Group Inc. now owns 29,931,981 shares of the real estate investment trust's stock worth $1,157,170,000 after purchasing an additional 562,710 shares during the last quarter. Centersquare Investment Management LLC lifted its position in shares of Rexford Industrial Realty by 32.3% in the 4th quarter. Centersquare Investment Management LLC now owns 4,492,166 shares of the real estate investment trust's stock valued at $173,667,000 after acquiring an additional 1,097,349 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Rexford Industrial Realty by 1.7% in the 4th quarter. Geode Capital Management LLC now owns 4,144,754 shares of the real estate investment trust's stock valued at $160,282,000 after acquiring an additional 70,710 shares in the last quarter. Rush Island Management LP purchased a new stake in shares of Rexford Industrial Realty in the 4th quarter valued at approximately $132,701,000. Finally, Boston Partners lifted its position in shares of Rexford Industrial Realty by 7.5% in the 4th quarter. Boston Partners now owns 3,160,272 shares of the real estate investment trust's stock valued at $122,184,000 after acquiring an additional 221,478 shares in the last quarter. Institutional investors and hedge funds own 99.52% of the company's stock.

Rexford Industrial Realty Stock Up 2.8%

Shares of REXR traded up $0.98 during mid-day trading on Friday, hitting $36.41. 3,367,109 shares of the company's stock were exchanged, compared to its average volume of 2,227,261. Rexford Industrial Realty, Inc. has a twelve month low of $29.68 and a twelve month high of $52.61. The firm has a fifty day moving average of $36.05 and a two-hundred day moving average of $37.29. The company has a quick ratio of 4.90, a current ratio of 4.90 and a debt-to-equity ratio of 0.37. The stock has a market cap of $8.62 billion, a price-to-earnings ratio of 26.96, a P/E/G ratio of 3.33 and a beta of 1.13.

Rexford Industrial Realty (NYSE:REXR - Get Free Report) last posted its 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. The business had revenue of $241.57 million for the quarter, compared to analyst estimates of $251.72 million. Rexford Industrial Realty had a net margin of 32.04% and a return on equity of 3.66%. Rexford Industrial Realty's revenue was up 5.0% compared to the same quarter last year. During the same period last year, the business posted $0.60 EPS. On average, sell-side analysts forecast 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 declared a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Tuesday, September 30th will be given a $0.43 dividend. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $1.72 annualized dividend and a yield of 4.72%. Rexford Industrial Realty's dividend payout ratio is 138.71%.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. Industrial Alliance Securities set a $38.00 price target on shares of Rexford Industrial Realty in a research report on Tuesday, March 25th. Barclays cut their target price on shares of Rexford Industrial Realty from $38.00 to $35.00 and set an "underweight" rating for the company in a research report on Wednesday, April 30th. JPMorgan Chase & Co. cut their target price on shares of Rexford Industrial Realty from $44.00 to $37.00 and set a "neutral" rating for the company in a research report on Thursday, April 24th. Robert W. Baird set a $43.00 target price on shares of Rexford Industrial Realty in a research report on Tuesday, May 6th. Finally, Wells Fargo & Company cut their target price on shares of Rexford Industrial Realty from $45.00 to $39.00 and set an "overweight" rating for the company in a research report on Monday, May 19th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $39.82.

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.