Massachusetts Financial Services Co. MA Acquires 431,659 Shares of Rexford Industrial Realty, Inc. (NYSE:REXR)

Massachusetts Financial Services Co. MA increased its stake in Rexford Industrial Realty, Inc. (NYSE:REXR) by 14.8% during the third quarter, according to its most recent filing with the SEC. The fund owned 3,339,219 shares of the real estate investment trust’s stock after buying an additional 431,659 shares during the quarter. Massachusetts Financial Services Co. MA owned 1.50% of Rexford Industrial Realty worth $167,996,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. O Shaughnessy Asset Management LLC boosted its stake in Rexford Industrial Realty by 19.9% in the first quarter. O Shaughnessy Asset Management LLC now owns 4,605 shares of the real estate investment trust’s stock valued at $232,000 after acquiring an additional 764 shares during the last quarter. Advisors Asset Management Inc. lifted its stake in Rexford Industrial Realty by 136.6% in the first quarter. Advisors Asset Management Inc. now owns 1,086 shares of the real estate investment trust’s stock valued at $55,000 after purchasing an additional 627 shares during the last quarter. Magnetar Financial LLC purchased a new stake in Rexford Industrial Realty in the first quarter worth $1,671,000. Price T Rowe Associates Inc. MD raised its stake in shares of Rexford Industrial Realty by 26.7% in the first quarter. Price T Rowe Associates Inc. MD now owns 19,933,431 shares of the real estate investment trust’s stock valued at $1,002,654,000 after buying an additional 4,197,907 shares during the period. Finally, Public Employees Retirement Association of Colorado lifted its position in shares of Rexford Industrial Realty by 1,093.5% during the 1st quarter. Public Employees Retirement Association of Colorado now owns 245,795 shares of the real estate investment trust’s stock valued at $12,363,000 after buying an additional 225,200 shares during the last quarter. Institutional investors own 99.52% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on REXR shares. Scotiabank lowered Rexford Industrial Realty from a “sector outperform” rating to a “sector perform” rating and decreased their price objective for the stock from $55.00 to $48.00 in a report on Friday, October 25th. StockNews.com lowered shares of Rexford Industrial Realty from a “hold” rating to a “sell” rating in a research report on Monday, October 21st. Wells Fargo & Company cut their price objective on shares of Rexford Industrial Realty from $66.00 to $61.00 and set an “overweight” rating for the company in a report on Wednesday, August 28th. Evercore ISI reissued an “outperform” rating on shares of Rexford Industrial Realty in a report on Friday, October 18th. Finally, Mizuho cut their price target on Rexford Industrial Realty from $50.00 to $49.00 and set a “neutral” rating for the company in a report on Thursday, September 5th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $51.09.

Insider Transactions at Rexford Industrial Realty

In other news, CFO Laura E. Clark sold 14,185 shares of the company’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $50.15, for a total value of $711,377.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 1.20% of the company’s stock.

Rexford Industrial Realty Trading Up 0.3 %

Shares of REXR stock opened at $42.08 on Friday. Rexford Industrial Realty, Inc. has a 52-week low of $41.16 and a 52-week high of $58.02. The business’s fifty day moving average is $46.33 and its 200 day moving average is $47.00. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.20 and a current ratio of 1.20. The company has a market capitalization of $9.36 billion, a PE ratio of 34.21, a price-to-earnings-growth ratio of 1.99 and a beta of 0.94.

Rexford Industrial Realty (NYSE:REXR) last released its quarterly earnings results 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 business had revenue of $241.84 million during the quarter, compared to analysts’ expectations of $235.81 million. Rexford Industrial Realty had a net margin of 30.40% and a return on equity of 3.35%. The business’s revenue was up 17.7% on a year-over-year basis. During the same period in the previous year, the business earned $0.56 EPS. On average, equities research analysts anticipate that Rexford Industrial Realty, Inc. will post 2.34 EPS for the current fiscal year.

Rexford Industrial Realty Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be issued a $0.4175 dividend. This represents a $1.67 dividend on an annualized basis and a dividend yield of 3.97%. The ex-dividend date of this dividend is Tuesday, December 31st. Rexford Industrial Realty’s payout ratio is 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.