OVERSEA CHINESE BANKING Corp Ltd Purchases New Position in Rexford Industrial Realty, Inc. (NYSE:REXR)

OVERSEA CHINESE BANKING Corp Ltd acquired a new stake in Rexford Industrial Realty, Inc. (NYSE:REXR) in the 3rd quarter, HoldingsChannel.com reports. The fund acquired 60,304 shares of the real estate investment trust’s stock, valued at approximately $3,034,000.

A number of other hedge funds have also recently added to or reduced their stakes in REXR. Fulton Bank N.A. lifted its stake in shares of Rexford Industrial Realty by 4.7% in the 3rd quarter. Fulton Bank N.A. now owns 5,038 shares of the real estate investment trust’s stock valued at $253,000 after acquiring an additional 224 shares during the last quarter. Inspire Investing LLC increased its holdings in Rexford Industrial Realty by 4.9% in the 1st quarter. Inspire Investing LLC now owns 7,126 shares of the real estate investment trust’s stock worth $358,000 after purchasing an additional 331 shares in the last quarter. Hennion & Walsh Asset Management Inc. raised its position in Rexford Industrial Realty by 2.4% in the second quarter. Hennion & Walsh Asset Management Inc. now owns 14,641 shares of the real estate investment trust’s stock valued at $653,000 after purchasing an additional 337 shares during the last quarter. Victory Capital Management Inc. boosted its stake in shares of Rexford Industrial Realty by 0.8% during the second quarter. Victory Capital Management Inc. now owns 46,066 shares of the real estate investment trust’s stock valued at $2,054,000 after purchasing an additional 345 shares in the last quarter. Finally, Massmutual Trust Co. FSB ADV increased its stake in shares of Rexford Industrial Realty by 169.4% in the second quarter. Massmutual Trust Co. FSB ADV now owns 555 shares of the real estate investment trust’s stock valued at $25,000 after buying an additional 349 shares during the period. Institutional investors and hedge funds own 99.52% of the company’s stock.

Insider Activity

In related news, CFO Laura E. Clark sold 14,185 shares of the stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $50.15, for a total value of $711,377.75. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 1.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on REXR. StockNews.com downgraded shares of Rexford Industrial Realty from a “hold” rating to a “sell” rating in a research report on Monday, October 21st. Industrial Alliance Securities set a $55.00 price objective on shares of Rexford Industrial Realty in a research note on Friday, October 18th. Mizuho lowered their target price on Rexford Industrial Realty from $50.00 to $49.00 and set a “neutral” rating for the company in a research report on Thursday, September 5th. JPMorgan Chase & Co. upped their price target on Rexford Industrial Realty from $47.00 to $52.00 and gave the company a “neutral” rating in a research report on Thursday, July 25th. Finally, Bank of America downgraded Rexford Industrial Realty from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $66.00 to $49.00 in a research report on Monday, October 21st. Two research analysts have rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, Rexford Industrial Realty presently has a consensus rating of “Hold” and a consensus target price of $51.09.

Rexford Industrial Realty Stock Performance

NYSE:REXR opened at $41.39 on Wednesday. The firm has a market capitalization of $9.20 billion, a P/E ratio of 33.65, a P/E/G ratio of 2.04 and a beta of 0.94. Rexford Industrial Realty, Inc. has a twelve month low of $41.36 and a twelve month high of $58.02. The company has a fifty day moving average of $47.41 and a 200-day moving average of $47.10. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 0.40.

Rexford Industrial Realty (NYSE:REXR) last announced its quarterly earnings data on Wednesday, October 16th. The real estate investment trust reported $0.30 earnings per share for the quarter, missing the consensus estimate of $0.58 by ($0.28). The company had revenue of $241.84 million for the quarter, compared to analyst estimates of $235.81 million. Rexford Industrial Realty had a net margin of 30.40% and a return on equity of 3.35%. Rexford Industrial Realty’s revenue for the quarter was up 17.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.56 EPS. As a group, sell-side analysts anticipate that Rexford Industrial Realty, Inc. will post 2.34 EPS 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. Shareholders of record on Tuesday, December 31st will be paid a $0.4175 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $1.67 dividend on an annualized basis and a yield of 4.03%. Rexford Industrial Realty’s dividend payout ratio (DPR) is presently 135.77%.

Rexford Industrial Realty Company 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.