Vanguard Group Inc. Acquires 779,095 Shares of Rexford Industrial Realty, Inc. (NYSE:REXR)

Vanguard Group Inc. increased its position in shares of Rexford Industrial Realty, Inc. (NYSE:REXR - Free Report) by 2.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 30,711,076 shares of the real estate investment trust's stock after acquiring an additional 779,095 shares during the period. Vanguard Group Inc. owned about 12.98% of Rexford Industrial Realty worth $1,202,339,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in REXR. Teacher Retirement System of Texas lifted its stake in Rexford Industrial Realty by 198.3% in the 1st quarter. Teacher Retirement System of Texas now owns 39,028 shares of the real estate investment trust's stock valued at $1,528,000 after purchasing an additional 25,945 shares during the last quarter. GAMMA Investing LLC lifted its stake in shares of Rexford Industrial Realty by 211.2% in the 1st quarter. GAMMA Investing LLC now owns 1,441 shares of the real estate investment trust's stock valued at $56,000 after acquiring an additional 978 shares during the last quarter. M&T Bank Corp boosted its holdings in shares of Rexford Industrial Realty by 1.2% during the 1st quarter. M&T Bank Corp now owns 26,857 shares of the real estate investment trust's stock valued at $1,052,000 after acquiring an additional 317 shares in the last quarter. Bessemer Group Inc. boosted its holdings in shares of Rexford Industrial Realty by 118.4% during 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 in the last quarter. Finally, Oppenheimer Asset Management Inc. grew its position in Rexford Industrial Realty by 40.5% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 36,792 shares of the real estate investment trust's stock worth $1,440,000 after acquiring an additional 10,603 shares during the last quarter. 99.52% of the stock is owned by institutional investors.

Insiders Place Their Bets

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

Rexford Industrial Realty Trading Up 1.6%

REXR traded up $0.58 during trading on Tuesday, hitting $36.99. The company's stock had a trading volume of 2,285,380 shares, compared to its average volume of 2,846,088. The firm has a market capitalization of $8.75 billion, a P/E ratio of 27.40, a PEG ratio of 4.05 and a beta of 1.10. Rexford Industrial Realty, Inc. has a twelve month low of $29.68 and a twelve month high of $52.61. The stock's fifty day moving average price is $36.69 and its 200-day moving average price is $37.03. 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 (NYSE:REXR - Get Free Report) last released 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 company had revenue of $241.57 million for the quarter, compared to the consensus estimate of $251.72 million. Rexford Industrial Realty had a net margin of 32.04% and a return on equity of 3.62%. Rexford Industrial Realty's quarterly revenue was up 5.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.60 EPS. Analysts anticipate that Rexford Industrial Realty, Inc. will post 2.38 EPS for the current year.

Rexford Industrial Realty Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several equities analysts have commented on REXR shares. JPMorgan Chase & Co. dropped their target price on 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 price objective on shares of Rexford Industrial Realty in a report on Tuesday, May 6th. Wells Fargo & Company reduced their target price on shares of Rexford Industrial Realty from $45.00 to $39.00 and set an "overweight" rating on the stock in a report on Monday, May 19th. Evercore ISI cut shares of Rexford Industrial Realty from an "outperform" rating to an "in-line" rating and decreased their price target for the company from $39.00 to $38.00 in a research report on Friday, July 18th. Finally, Barclays cut their price target on shares of Rexford Industrial Realty from $38.00 to $35.00 and set an "underweight" rating on the stock in a report on Wednesday, April 30th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $39.82.

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.