Brasada Capital Management LP trimmed its position in shares of Rexford Industrial Realty Inc (NYSE:REXR) by 2.6% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 169,332 shares of the real estate investment trust’s stock after selling 4,575 shares during the period. Rexford Industrial Realty makes up about 1.8% of Brasada Capital Management LP’s holdings, making the stock its 14th largest holding. Brasada Capital Management LP owned about 0.16% of Rexford Industrial Realty worth $6,064,000 at the end of the most recent reporting period.
A number of other large investors have also recently added to or reduced their stakes in REXR. JPMorgan Chase & Co. increased its position in shares of Rexford Industrial Realty by 115.1% during the third quarter. JPMorgan Chase & Co. now owns 2,617,974 shares of the real estate investment trust’s stock worth $83,671,000 after acquiring an additional 1,400,758 shares during the period. Bank of New York Mellon Corp increased its position in shares of Rexford Industrial Realty by 9.4% during the third quarter. Bank of New York Mellon Corp now owns 718,369 shares of the real estate investment trust’s stock worth $22,958,000 after acquiring an additional 61,486 shares during the period. TIAA CREF Investment Management LLC increased its position in shares of Rexford Industrial Realty by 5.1% during the third quarter. TIAA CREF Investment Management LLC now owns 1,187,227 shares of the real estate investment trust’s stock worth $37,944,000 after acquiring an additional 57,648 shares during the period. Vanguard Group Inc increased its position in shares of Rexford Industrial Realty by 9.9% during the third quarter. Vanguard Group Inc now owns 12,569,018 shares of the real estate investment trust’s stock worth $401,706,000 after acquiring an additional 1,128,837 shares during the period. Finally, State of Alaska Department of Revenue increased its position in shares of Rexford Industrial Realty by 3.5% during the fourth quarter. State of Alaska Department of Revenue now owns 30,095 shares of the real estate investment trust’s stock worth $886,000 after acquiring an additional 1,019 shares during the period. Institutional investors own 97.19% of the company’s stock.
A number of research firms have recently weighed in on REXR. Zacks Investment Research lowered Rexford Industrial Realty from a “buy” rating to a “hold” rating in a research report on Wednesday, April 17th. Wells Fargo & Co upped their price objective on Rexford Industrial Realty from $32.00 to $37.00 and gave the stock a “market perform” rating in a research report on Thursday, March 14th. They noted that the move was a valuation call. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $37.00.
Rexford Industrial Realty (NYSE:REXR) last posted its earnings results on Tuesday, April 30th. The real estate investment trust reported $0.08 EPS for the quarter, missing the consensus estimate of $0.28 by ($0.20). The business had revenue of $60.36 million during the quarter, compared to analysts’ expectations of $60.05 million. Rexford Industrial Realty had a net margin of 18.77% and a return on equity of 2.43%. The business’s quarterly revenue was up 24.4% compared to the same quarter last year. During the same period last year, the company earned $0.27 EPS. Analysts predict that Rexford Industrial Realty Inc will post 1.2 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Friday, June 28th will be issued a $0.185 dividend. This represents a $0.74 annualized dividend and a yield of 1.95%. The ex-dividend date of this dividend is Thursday, June 27th. Rexford Industrial Realty’s dividend payout ratio (DPR) is presently 66.07%.
In related news, General Counsel David E. Lanzer sold 5,085 shares of the stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $38.19, for a total value of $194,196.15. Following the transaction, the general counsel now owns 5,718 shares of the company’s stock, valued at $218,370.42. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.80% of the company’s stock.
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About Rexford Industrial Realty
Rexford Industrial is a real estate investment trust focused on owning and operating industrial properties in Southern California infill markets. The Company owns 179 properties with approximately 22.1 million rentable square feet and manages an additional 20 properties with approximately 1.2 million rentable square feet.
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