Massachusetts Financial Services Co. MA Acquires 282,813 Shares of Rexford Industrial Realty, Inc. (NYSE:REXR)

Massachusetts Financial Services Co. MA lifted its holdings in Rexford Industrial Realty, Inc. (NYSE:REXR - Free Report) by 17.8% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,874,212 shares of the real estate investment trust's stock after purchasing an additional 282,813 shares during the period. Massachusetts Financial Services Co. MA owned approximately 0.89% of Rexford Industrial Realty worth $105,143,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Park Avenue Securities LLC purchased a new stake in Rexford Industrial Realty during the 3rd quarter worth about $245,000. Assetmark Inc. raised its holdings in Rexford Industrial Realty by 13.9% in the third quarter. Assetmark Inc. now owns 4,016 shares of the real estate investment trust's stock valued at $198,000 after acquiring an additional 489 shares in the last quarter. Fifth Third Bancorp raised its holdings in Rexford Industrial Realty by 58.2% in the third quarter. Fifth Third Bancorp now owns 1,117 shares of the real estate investment trust's stock valued at $55,000 after acquiring an additional 411 shares in the last quarter. M&T Bank Corp lifted its stake in Rexford Industrial Realty by 4.2% in the third quarter. M&T Bank Corp now owns 28,458 shares of the real estate investment trust's stock worth $1,405,000 after acquiring an additional 1,142 shares during the last quarter. Finally, Nisa Investment Advisors LLC grew its holdings in Rexford Industrial Realty by 7.7% during the 3rd quarter. Nisa Investment Advisors LLC now owns 81,460 shares of the real estate investment trust's stock worth $4,020,000 after acquiring an additional 5,802 shares in the last quarter. Institutional investors and hedge funds own 99.52% of the company's stock.

Wall Street Analysts Forecast Growth

REXR has been the topic of a number of analyst reports. Wedbush assumed coverage on shares of Rexford Industrial Realty in a report on Monday, April 22nd. They issued a "neutral" rating and a $45.00 price objective on the stock. Barclays raised their price target on Rexford Industrial Realty from $45.00 to $46.00 and gave the company an "underweight" rating in a research note on Tuesday, April 23rd. Scotiabank lowered their price objective on Rexford Industrial Realty from $55.00 to $51.00 and set a "sector outperform" rating for the company in a research report on Thursday. Robert W. Baird cut their target price on Rexford Industrial Realty from $57.00 to $49.00 and set a "neutral" rating on the stock in a research report on Wednesday, May 1st. Finally, JPMorgan Chase & Co. downgraded Rexford Industrial Realty from an "overweight" rating to a "neutral" rating and set a $55.00 price target for the company. in a report on Wednesday, February 7th. Two analysts have rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of "Hold" and an average target price of $53.00.

Rexford Industrial Realty Stock Performance

NYSE REXR traded up $0.23 on Thursday, hitting $46.13. 1,756,357 shares of the company's stock were exchanged, compared to its average volume of 1,901,075. The firm has a market cap of $10.05 billion, a price-to-earnings ratio of 42.32, a P/E/G ratio of 1.96 and a beta of 0.89. The firm's 50-day moving average price is $47.22 and its two-hundred day moving average price is $50.29. Rexford Industrial Realty, Inc. has a fifty-two week low of $41.56 and a fifty-two week high of $58.02. The company has a debt-to-equity ratio of 0.41, a current ratio of 3.21 and a quick ratio of 3.21.

Rexford Industrial Realty (NYSE:REXR - Get Free Report) last released its quarterly earnings data on Thursday, April 18th. The real estate investment trust reported $0.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.57 by ($0.30). The business had revenue of $214.10 million during the quarter, compared to analysts' expectations of $207.39 million. Rexford Industrial Realty had a return on equity of 3.04% and a net margin of 28.84%. The company's revenue was up 15.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.52 EPS. On average, research analysts expect that Rexford Industrial Realty, Inc. will post 2.34 EPS for the current year.

Rexford Industrial Realty Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Friday, June 28th will be paid a $0.417 dividend. This represents a $1.67 annualized dividend and a dividend yield of 3.62%. The ex-dividend date is Friday, June 28th. Rexford Industrial Realty's dividend payout ratio (DPR) is 153.21%.

About Rexford Industrial Realty

Rexford Industrial creates value by investing in, operating and redeveloping industrial properties throughout infill Southern California, the world's fourth largest industrial market and consistently the highest-demand with lowest-supply major market in the nation. The Company's highly differentiated strategy enables internal and external growth opportunities through its proprietary value creation and asset management capabilities.