Rexford Industrial Realty, Inc. (NYSE:REXR) Shares Bought by Canada Pension Plan Investment Board

Canada Pension Plan Investment Board lifted its position in shares of Rexford Industrial Realty, Inc. (NYSE:REXR) by 262.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,237,288 shares of the real estate investment trust’s stock after purchasing an additional 1,620,378 shares during the period. Canada Pension Plan Investment Board’s holdings in Rexford Industrial Realty were worth $112,536,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of REXR. Westwood Holdings Group Inc. raised its stake in Rexford Industrial Realty by 32.0% in the first quarter. Westwood Holdings Group Inc. now owns 343,857 shares of the real estate investment trust’s stock valued at $17,296,000 after buying an additional 83,357 shares in the last quarter. Capital International Inc. CA raised its position in shares of Rexford Industrial Realty by 96.2% during the 1st quarter. Capital International Inc. CA now owns 72,172 shares of the real estate investment trust’s stock worth $3,630,000 after acquiring an additional 35,379 shares in the last quarter. Capital International Investors lifted its stake in Rexford Industrial Realty by 687.7% during the first quarter. Capital International Investors now owns 19,590,676 shares of the real estate investment trust’s stock worth $985,411,000 after purchasing an additional 17,103,653 shares during the last quarter. Capital Group Private Client Services Inc. boosted its holdings in Rexford Industrial Realty by 99.0% in the first quarter. Capital Group Private Client Services Inc. now owns 157,527 shares of the real estate investment trust’s stock valued at $7,924,000 after purchasing an additional 78,381 shares in the last quarter. Finally, Anson Funds Management LP increased its stake in Rexford Industrial Realty by 111.1% in the first quarter. Anson Funds Management LP now owns 54,107 shares of the real estate investment trust’s stock valued at $2,722,000 after purchasing an additional 28,480 shares during the last quarter. Institutional investors and hedge funds own 99.52% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently commented on REXR. 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. JPMorgan Chase & Co. boosted their price objective on Rexford Industrial Realty from $47.00 to $52.00 and gave the company a “neutral” rating in a research note on Thursday. Mizuho lowered their target price 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. Wedbush initiated coverage on shares of Rexford Industrial Realty in a research report on Monday, April 22nd. They issued a “neutral” rating and a $45.00 price target for the company. Finally, Barclays lifted their price objective on shares of Rexford Industrial Realty from $45.00 to $46.00 and gave the company an “underweight” rating in a research note on Tuesday, April 23rd. One research analyst has rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $52.30.

Insiders Place Their Bets

In related news, CEO Howard Schwimmer sold 30,358 shares of the business’s stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $48.86, for a total transaction of $1,483,291.88. Following the sale, the chief executive officer now owns 50,673 shares of the company’s stock, valued at $2,475,882.78. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 1.20% of the company’s stock.

Rexford Industrial Realty Stock Performance

Shares of REXR stock traded up $0.88 during mid-day trading on Friday, hitting $49.05. The stock had a trading volume of 1,097,416 shares, compared to its average volume of 1,806,579. The firm has a market cap of $10.77 billion, a PE ratio of 45.00, a PEG ratio of 1.98 and a beta of 0.92. The company’s 50-day simple moving average is $45.82 and its 200-day simple moving average is $48.51. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.73 and a quick ratio of 3.21. 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 announced its quarterly earnings data on Wednesday, July 17th. The real estate investment trust reported $0.37 earnings per share for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.21). Rexford Industrial Realty had a net margin of 30.71% and a return on equity of 3.31%. The business had revenue of $237.60 million during the quarter, compared to analysts’ expectations of $227.70 million. During the same period in the prior year, the firm posted $0.54 EPS. Rexford Industrial Realty’s revenue for the quarter was up 21.3% compared to the same quarter last year. Sell-side analysts anticipate that Rexford Industrial Realty, Inc. will post 2.34 earnings per share for the current year.

Rexford Industrial Realty Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th will be issued a $0.4175 dividend. The ex-dividend date of this dividend is Monday, September 30th. This represents a $1.67 dividend on an annualized basis and a yield of 3.40%. 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%.

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.