Nissay Asset Management Corp Japan ADV Invests $250,000 in Rexford Industrial Realty Inc (NYSE:REXR) Stock

Nissay Asset Management Corp Japan ADV bought a new position in shares of Rexford Industrial Realty Inc (NYSE:REXR) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 6,968 shares of the real estate investment trust’s stock, valued at approximately $250,000.

Several other hedge funds have also recently added to or reduced their stakes in the stock. PGGM Investments increased its position in Rexford Industrial Realty by 4,193.6% during the 1st quarter. PGGM Investments now owns 4,303,370 shares of the real estate investment trust’s stock worth $154,104,000 after purchasing an additional 4,203,143 shares in the last quarter. JPMorgan Chase & Co. increased its position in Rexford Industrial Realty by 115.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,617,974 shares of the real estate investment trust’s stock worth $83,671,000 after purchasing an additional 1,400,758 shares in the last quarter. Vanguard Group Inc boosted its stake in Rexford Industrial Realty by 9.9% in the 3rd quarter. Vanguard Group Inc now owns 12,569,018 shares of the real estate investment trust’s stock worth $401,706,000 after buying an additional 1,128,837 shares during the last quarter. Norges Bank acquired a new stake in Rexford Industrial Realty in the 4th quarter worth about $29,836,000. Finally, BlackRock Inc. lifted its stake in shares of Rexford Industrial Realty by 4.8% in the 4th quarter. BlackRock Inc. now owns 10,579,277 shares of the real estate investment trust’s stock valued at $311,772,000 after purchasing an additional 487,419 shares in the last quarter. Hedge funds and other institutional investors own 98.68% of the company’s stock.

In related news, General Counsel David E. Lanzer sold 5,085 shares of the firm’s stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $38.19, for a total transaction of $194,196.15. Following the completion of the sale, the general counsel now directly owns 5,718 shares of the company’s stock, valued at approximately $218,370.42. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Adeel Khan sold 40,000 shares of the firm’s stock in a transaction on Thursday, May 23rd. The shares were sold at an average price of $38.00, for a total value of $1,520,000.00. Following the sale, the chief financial officer now directly owns 40,000 shares of the company’s stock, valued at $1,520,000. The disclosure for this sale can be found here. 1.70% of the stock is currently owned by insiders.

Several equities analysts recently commented on REXR shares. Zacks Investment Research raised Rexford Industrial Realty from a “hold” rating to a “buy” rating and set a $39.00 price target on the stock in a research report on Friday, February 15th. Wells Fargo & Co boosted their price target 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 equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $38.33.

Shares of NYSE REXR traded down $0.20 during trading on Friday, reaching $40.00. The stock had a trading volume of 557,100 shares, compared to its average volume of 714,273. The company has a market capitalization of $4.15 billion, a price-to-earnings ratio of 35.71, a price-to-earnings-growth ratio of 3.79 and a beta of 0.84. The company has a current ratio of 8.34, a quick ratio of 8.34 and a debt-to-equity ratio of 0.38. Rexford Industrial Realty Inc has a one year low of $28.17 and a one year high of $40.47.

Rexford Industrial Realty (NYSE:REXR) last issued its quarterly earnings data on Tuesday, April 30th. The real estate investment trust reported $0.08 EPS for the quarter, missing the Zacks’ consensus estimate of $0.28 by ($0.20). The company had revenue of $60.36 million for the quarter, compared to the consensus estimate of $60.05 million. Rexford Industrial Realty had a return on equity of 2.43% and a net margin of 18.77%. Rexford Industrial Realty’s quarterly revenue was up 24.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.27 earnings per share. As a group, equities analysts predict that Rexford Industrial Realty Inc will post 1.2 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Friday, June 28th will be given a dividend of $0.185 per share. This represents a $0.74 dividend on an annualized basis and a dividend yield of 1.85%. The ex-dividend date of this dividend is Thursday, June 27th. Rexford Industrial Realty’s dividend payout ratio (DPR) is presently 66.07%.

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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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Institutional Ownership by Quarter for Rexford Industrial Realty (NYSE:REXR)

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