Atom Investors LP Makes New $4.68 Million Investment in Rexford Industrial Realty, Inc. (NYSE:REXR)

Atom Investors LP purchased a new stake in shares of Rexford Industrial Realty, Inc. (NYSE:REXR) during the third quarter, HoldingsChannel.com reports. The institutional investor purchased 93,015 shares of the real estate investment trust’s stock, valued at approximately $4,680,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Rexford Industrial Realty by 338.0% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,930,706 shares of the real estate investment trust’s stock valued at $97,134,000 after buying an additional 1,489,876 shares during the period. Canada Pension Plan Investment Board increased its stake in shares of Rexford Industrial Realty by 41.9% during the second quarter. Canada Pension Plan Investment Board now owns 3,175,465 shares of the real estate investment trust’s stock valued at $141,594,000 after acquiring an additional 938,177 shares during the period. Massachusetts Financial Services Co. MA raised its holdings in Rexford Industrial Realty by 38.0% during the second quarter. Massachusetts Financial Services Co. MA now owns 2,907,560 shares of the real estate investment trust’s stock worth $129,648,000 after purchasing an additional 800,137 shares in the last quarter. Daiwa Securities Group Inc. lifted its position in Rexford Industrial Realty by 52.5% in the second quarter. Daiwa Securities Group Inc. now owns 1,210,795 shares of the real estate investment trust’s stock worth $53,990,000 after purchasing an additional 417,037 shares during the period. Finally, PGGM Investments boosted its stake in Rexford Industrial Realty by 16.5% during the 2nd quarter. PGGM Investments now owns 2,833,520 shares of the real estate investment trust’s stock valued at $126,347,000 after purchasing an additional 401,593 shares in the last quarter. 99.52% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts recently weighed in on the company. Wells Fargo & Company decreased their target price on Rexford Industrial Realty from $66.00 to $61.00 and set an “overweight” rating for the company in a research note on Wednesday, August 28th. Evercore ISI reiterated an “outperform” rating on shares of Rexford Industrial Realty in a report on Friday, October 18th. Industrial Alliance Securities set a $55.00 price target on shares of Rexford Industrial Realty in a research report on Friday, October 18th. Bank of America cut Rexford Industrial Realty from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $66.00 to $49.00 in a report on Monday, October 21st. Finally, StockNews.com cut shares of Rexford Industrial Realty from a “hold” rating to a “sell” rating in a report on Monday, October 21st. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, Rexford Industrial Realty presently has a consensus rating of “Hold” and an average target price of $51.09.

Insider Activity at Rexford Industrial Realty

In other Rexford Industrial Realty news, CFO Laura E. Clark sold 14,185 shares of the business’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $50.15, for a total transaction of $711,377.75. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 1.20% of the stock is owned by insiders.

Rexford Industrial Realty Stock Down 1.1 %

Shares of NYSE:REXR opened at $42.08 on Monday. The company has a 50 day moving average of $45.27 and a 200-day moving average of $46.91. The stock has a market cap of $9.36 billion, a price-to-earnings ratio of 34.21, a P/E/G ratio of 1.99 and a beta of 0.94. Rexford Industrial Realty, Inc. has a one year low of $41.16 and a one year high of $58.02. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.20 and a quick ratio of 1.20.

Rexford Industrial Realty (NYSE:REXR) last released its quarterly earnings data on Wednesday, October 16th. The real estate investment trust reported $0.30 EPS for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.28). Rexford Industrial Realty had a net margin of 30.40% and a return on equity of 3.35%. The firm had revenue of $241.84 million during the quarter, compared to the consensus estimate of $235.81 million. During the same quarter in the prior year, the company earned $0.56 EPS. Rexford Industrial Realty’s quarterly revenue was up 17.7% on a year-over-year basis. On average, sell-side analysts forecast that Rexford Industrial Realty, Inc. will post 2.34 earnings per share for the current year.

Rexford Industrial Realty Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be issued a dividend of $0.4175 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $1.67 dividend on an annualized basis and a dividend yield of 3.97%. Rexford Industrial Realty’s payout ratio is presently 135.77%.

Rexford Industrial Realty Profile

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.