M&G Plc Purchases New Shares in Rexford Industrial Realty, Inc. (NYSE:REXR)

M&G Plc acquired a new position in shares of Rexford Industrial Realty, Inc. (NYSE:REXR) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 672,874 shares of the real estate investment trust’s stock, valued at approximately $33,644,000. M&G Plc owned 0.31% of Rexford Industrial Realty as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in the stock. Norges Bank purchased a new stake in shares of Rexford Industrial Realty during the fourth quarter worth about $157,685,000. Capital International Investors purchased a new stake in Rexford Industrial Realty during the 4th quarter worth approximately $139,522,000. Vanguard Group Inc. raised its holdings in shares of Rexford Industrial Realty by 4.5% during the fourth quarter. Vanguard Group Inc. now owns 28,981,854 shares of the real estate investment trust’s stock valued at $1,625,882,000 after acquiring an additional 1,235,894 shares during the last quarter. Boston Partners lifted its position in shares of Rexford Industrial Realty by 63.3% in the fourth quarter. Boston Partners now owns 2,772,565 shares of the real estate investment trust’s stock valued at $155,536,000 after acquiring an additional 1,075,005 shares in the last quarter. Finally, Daiwa Securities Group Inc. lifted its position in shares of Rexford Industrial Realty by 894.0% in the first quarter. Daiwa Securities Group Inc. now owns 793,758 shares of the real estate investment trust’s stock valued at $39,926,000 after acquiring an additional 713,907 shares in the last quarter. 99.52% of the stock is currently owned by institutional investors and hedge funds.

Rexford Industrial Realty Trading Up 0.6 %

REXR traded up $0.27 during trading hours on Friday, reaching $49.11. The company’s stock had a trading volume of 1,434,429 shares, compared to its average volume of 1,866,996. The business’s 50-day moving average is $45.50 and its 200-day moving average is $48.74. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.73 and a quick ratio of 3.21. The stock has a market cap of $10.70 billion, a PE ratio of 45.06, a P/E/G ratio of 1.99 and a beta of 0.92. Rexford Industrial Realty, Inc. has a fifty-two week low of $41.56 and a fifty-two week high of $58.02.

Rexford Industrial Realty (NYSE:REXR) last issued its quarterly earnings data on Wednesday, July 17th. The real estate investment trust reported $0.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.21). The business had revenue of $237.60 million for the quarter, compared to analyst estimates of $227.70 million. Rexford Industrial Realty had a return on equity of 3.31% and a net margin of 30.71%. The firm’s revenue for the quarter was up 21.3% compared to the same quarter last year. During the same period in the previous year, the business posted $0.54 earnings per share. As a group, equities research analysts predict that Rexford Industrial Realty, Inc. will post 2.32 earnings per share for the current fiscal year.

Rexford Industrial Realty Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 30th will be issued a $0.4175 dividend. This represents a $1.67 annualized dividend and a yield of 3.40%. The ex-dividend date of this dividend is Monday, September 30th. This is an increase from Rexford Industrial Realty’s previous quarterly dividend of $0.42. Rexford Industrial Realty’s dividend payout ratio (DPR) is 153.21%.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the company. Evercore ISI began coverage on Rexford Industrial Realty in a research note on Wednesday, July 10th. They issued an “outperform” rating and a $54.00 price objective for the company. Scotiabank reduced their target price on shares of Rexford Industrial Realty from $55.00 to $51.00 and set a “sector outperform” rating for the company in a research report on Thursday, May 16th. Mizuho lowered their price target on shares of Rexford Industrial Realty from $52.00 to $50.00 and set a “neutral” rating on the stock in a research report on Friday, May 31st. Robert W. Baird cut their price objective on shares of Rexford Industrial Realty from $57.00 to $49.00 and set a “neutral” rating for the company in a report on Wednesday, May 1st. Finally, Wedbush started coverage on Rexford Industrial Realty in a report on Monday, April 22nd. They set a “neutral” rating and a $45.00 target price on the stock. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $52.60.

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.