Sumitomo Mitsui DS Asset Management Company Ltd Increases Stake in Rexford Industrial Realty, Inc. (NYSE: REXR)


Sumitomo Mitsui DS Asset Management Company Ltd increased its position in Rexford Industrial Realty, Inc. (NYSE: REXRGet a rating) by 14.1% in the first quarter, according to the company in its latest 13F filing with the Securities and Exchange Commission (SEC). The company held 17,242 shares of the real estate investment trust after acquiring an additional 2,134 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Rexford Industrial Realty were worth $1,286,000 when it last filed with the SEC.

Other institutional investors and hedge funds have also recently increased or reduced their stake in the company. Total Clarity Wealth Management Inc. acquired a new equity stake in Rexford Industrial Realty in Q4 valued at approximately $41,000. National Bank of Canada FI acquired a new stake in Rexford Industrial Realty during the 4th quarter for a value of $43,000. First Horizon Advisors Inc. increased its stake in Rexford Industrial Realty by 28.7% during the 4th quarter. First Horizon Advisors Inc. now owns 727 shares of the real estate investment trust worth $59,000 after purchasing an additional 162 shares in the last quarter. Signaturefd LLC increased its holdings in Rexford Industrial Realty by 63.5% during the 4th quarter. Signaturefd LLC now owns 870 shares of the real estate investment trust worth $71,000 after buying 338 additional shares in the last quarter. Finally, Exchange Traded Concepts LLC acquired a new stake in Rexford Industrial Realty during the 4th quarter at a value of $128,000. Institutional investors and hedge funds own 98.53% of the company’s shares.

Shares of REXR opened at $58.78 on Friday. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt ratio of 0.29. The company has a market capitalization of $9.70 billion, a P/E ratio of 66.80, a price-to-earnings growth ratio of 3.02 and a beta of 0.70. The stock’s fifty-day simple moving average is $65.37 and its 200-day simple moving average is $70.98. Rexford Industrial Realty, Inc. has a 12-month low of $55.84 and a 12-month high of $84.68.

Rexford Industrial Building (NYSE: REXRGet a rating) last reported results on Tuesday, April 19. The real estate investment trust reported earnings per share of $0.27 for the quarter, beating the consensus estimate of $0.20 by $0.07. The company posted revenue of $140.80 million for the quarter, versus analyst estimates of $141.60 million. Rexford Industrial Realty had a return on equity of 3.22% and a net margin of 29.60%. The company’s quarterly revenue increased 41.1% year over year. During the same period last year, the company posted EPS of $0.37. Sell-side analysts expect Rexford Industrial Realty, Inc. to post earnings per share of 1.93 for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, July 15. Investors of record on Thursday, June 30 will receive a dividend of $0.315. This represents an annualized dividend of $1.26 and a dividend yield of 2.14%. The ex-dividend date is Wednesday, June 29. Rexford Industrial Realty’s dividend payout ratio (DPR) is currently 143.18%.

In related news, CEO Howard Schwimmer sold 16,500 shares in a trade on Wednesday, June 15. The stock was sold at an average price of $59.90, for a total value of $988,350.00. As a result of the transaction, the CEO now directly owns 84,472 shares of the company, valued at approximately $5,059,872.80. The sale was disclosed in a filing with the Securities & Exchange Commission, available at this link. Insiders of the company hold 1.50% of the shares of the company.

REXR has been the subject of a number of analyst reports. Robert W. Baird raised his target price on Rexford Industrial Realty from $86.00 to $103.00 in a Thursday, April 21 report. Wolfe Research assumed coverage for Rexford Industrial Realty in a Tuesday, June 21 report. They set a “market performance” rating and a target price of $63.00 on the stock. Wells Fargo & Company lowered its price target on Rexford Industrial Realty from $90.00 to $74.00 and set an “overweight” rating on the stock in a Monday, June 6 report. Jefferies Financial Group lowered its price target on Rexford Industrial Realty from $89.00 to $73.00 in a report released Thursday. To finish, StockNews.com upgraded Rexford Industrial Realty from a “hold” rating to a “sell” rating in a Tuesday, June 21 report. One analyst has assigned the stock a sell rating, another has assigned a hold rating and four have assigned the company’s stock a buy rating. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $77.17.

Rexford Industrial Real Estate Company Profile (Get a rating)

Rexford Industrial, a real estate investment trust focused on owning and operating industrial properties in the Southern California infill markets, owns 232 properties totaling approximately 27.9 million leasable square feet and manages 20 additional properties of approximately 1.0 million leasable square feet.

See also

Want to see which other hedge funds hold REXR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Rexford Industrial Realty, Inc. (NYSE: REXRGet a rating).

Institutional ownership by quarter for Rexford Industrial Realty (NYSE: REXR)



Get news and reviews for Rexford Industrial Realty Daily – Enter your email address below to receive a concise daily summary of breaking news and analyst ratings for Rexford Industrial Realty and related companies with MarketBeat.com’s FREE daily newsletter.