Rexford Industrial Realty, Inc. $REXR Holdings Increased by Aberdeen Group plc

Key Points

• Aberdeen Group increased its Rexford Industrial Realty stake by 2,548.6% in the third quarter, bringing its holdings to about 2.42 million shares, valued at $87.8 million. Institutional investors and hedge funds collectively own 99.52% of the stock.
• Rexford reported quarterly EPS of $0.07, below the $0.60 analyst consensus, while revenue of $239.1 million topped estimates but declined 5.6% year over year.
• The REIT declared a quarterly dividend of $0.435 per share, equivalent to a 4.6% yield at the reported share price. Analysts’ consensus rating was “Hold,” with an average price target of $41.14.

Aberdeen Group plc increased its stake in shares of Rexford Industrial Realty, Inc. (NYSE:REXR - Free Report) by 2,548.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,420,834 shares of the real estate investment trust's stock after purchasing an additional 2,329,433 shares during the period. Aberdeen Group plc owned approximately 1.14% of Rexford Industrial Realty worth $87,804,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in REXR. BlackRock Inc. acquired a new position in Rexford Industrial Realty in the second quarter valued at about $1,293,168,000. Dimensional Fund Advisors LP boosted its holdings in Rexford Industrial Realty by 2.4% during the first quarter. Dimensional Fund Advisors LP now owns 3,581,987 shares of the real estate investment trust's stock worth $117,239,000 after buying an additional 85,135 shares during the last quarter. Legal & General Group Plc acquired a new position in shares of Rexford Industrial Realty during the 2nd quarter worth about $86,861,000. Bank of America Corp DE acquired a new position in shares of Rexford Industrial Realty during the 2nd quarter worth about $79,547,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Rexford Industrial Realty by 41,558.2% during the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,654,665 shares of the real estate investment trust's stock worth $55,431,000 after buying an additional 1,650,693 shares during the period. 99.52% of the stock is owned by institutional investors and hedge funds.

Rexford Industrial Realty Stock Down 0.2%

Shares of NYSE REXR traded down $0.07 during mid-day trading on Friday, reaching $37.58. 1,267,452 shares of the company's stock were exchanged, compared to its average volume of 2,584,458. Rexford Industrial Realty, Inc. has a twelve month low of $32.14 and a twelve month high of $42.41. The company has a current ratio of 4.08, a quick ratio of 4.08 and a debt-to-equity ratio of 0.38. The firm has a market capitalization of $7.97 billion, a price-to-earnings ratio of -17.81 and a beta of 1.11. The business has a fifty day simple moving average of $37.60 and a 200 day simple moving average of $36.36.

Rexford Industrial Realty (NYSE:REXR - Get Free Report) last announced its quarterly earnings results on Thursday, October 22nd. The real estate investment trust reported $0.07 earnings per share for the quarter, missing analysts' consensus estimates of $0.60 by ($0.53). The company had revenue of $239.10 million during the quarter, compared to the consensus estimate of $232.95 million. Rexford Industrial Realty had a negative net margin of 47.15% and a negative return on equity of 5.72%. The business's quarterly revenue was down 5.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.60 EPS. As a group, equities analysts expect that Rexford Industrial Realty, Inc. will post 2.42 EPS for the current fiscal year.

Rexford Industrial Realty Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 15th. Stockholders of record on Thursday, December 31st will be given a dividend of $0.4350 per share. This represents a $1.74 annualized dividend and a dividend yield of 4.6%. The ex-dividend date of this dividend is Thursday, December 31st. Rexford Industrial Realty's dividend payout ratio is currently -82.46%.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. BMO Capital Markets increased their price target on shares of Rexford Industrial Realty from $38.00 to $39.00 and gave the company an "outperform" rating in a research report on Monday, September 28th. JPMorgan Chase & Co. boosted their price objective on shares of Rexford Industrial Realty from $36.00 to $39.00 and gave the company an "underweight" rating in a report on Monday, August 3rd. Wall Street Zen upgraded shares of Rexford Industrial Realty from a "sell" rating to a "hold" rating in a report on Saturday, October 31st. Mizuho raised shares of Rexford Industrial Realty from a "neutral" rating to an "outperform" rating and upped their target price for the company from $38.00 to $41.00 in a research note on Tuesday, October 13th. Finally, Jefferies Financial Group lowered shares of Rexford Industrial Realty from a "buy" rating to a "hold" rating and set a $40.00 target price on the stock. in a report on Thursday, August 6th. Seven equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, Rexford Industrial Realty has an average rating of "Hold" and an average price target of $41.14.

Rexford Industrial Realty Profile

Rexford Industrial Realty, Inc. is a real estate investment trust that owns, operates, acquires, develops and redevelops industrial properties. Its portfolio primarily serves businesses that need warehouse, distribution, manufacturing and other industrial space. The company focuses on infill markets in Southern California, including Los Angeles, Orange County, San Diego, the Inland Empire and Ventura County. Its strategy centers on properties in established areas with access to customers, workers and transportation networks.

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