Handelsbanken Fonder AB Buys 20,700 Shares of Rexford Industrial Realty, Inc. (NYSE:REXR)

Handelsbanken Fonder AB raised its stake in shares of Rexford Industrial Realty, Inc. (NYSE:REXR) by 45.5% in the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 66,202 shares of the real estate investment trust’s stock after purchasing an additional 20,700 shares during the period. Handelsbanken Fonder AB’s holdings in Rexford Industrial Realty were worth $3,331,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Massmutual Trust Co. FSB ADV grew its stake in shares of Rexford Industrial Realty by 169.4% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 555 shares of the real estate investment trust’s stock valued at $25,000 after acquiring an additional 349 shares during the period. V Square Quantitative Management LLC bought a new position in shares of Rexford Industrial Realty in the second quarter worth approximately $26,000. Headlands Technologies LLC purchased a new stake in shares of Rexford Industrial Realty in the second quarter worth $41,000. EverSource Wealth Advisors LLC raised its position in shares of Rexford Industrial Realty by 1,252.2% during the 1st quarter. EverSource Wealth Advisors LLC now owns 933 shares of the real estate investment trust’s stock valued at $47,000 after purchasing an additional 864 shares during the period. Finally, Advisors Asset Management Inc. raised its position in shares of Rexford Industrial Realty by 136.6% during the 1st 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 period. Hedge funds and other institutional investors own 99.52% of the company’s stock.

Rexford Industrial Realty Price Performance

Rexford Industrial Realty stock opened at $47.09 on Wednesday. Rexford Industrial Realty, Inc. has a 52-week low of $41.56 and a 52-week high of $58.02. The company has a quick ratio of 1.73, a current ratio of 1.73 and a debt-to-equity ratio of 0.41. The firm’s fifty day moving average is $50.26 and its 200 day moving average is $47.46. The company has a market cap of $10.26 billion, a price-to-earnings ratio of 43.20, a PEG ratio of 2.00 and a beta of 0.93.

Rexford Industrial Realty (NYSE:REXR) last announced its earnings results on Wednesday, July 17th. The real estate investment trust reported $0.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.58 by ($0.21). The business had revenue of $237.60 million for the quarter, compared to analysts’ expectations of $227.70 million. Rexford Industrial Realty had a net margin of 30.71% and a return on equity of 3.31%. The firm’s quarterly revenue was up 21.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.54 earnings per share. Sell-side analysts forecast that Rexford Industrial Realty, Inc. will post 2.35 EPS for the current fiscal year.

Rexford Industrial Realty Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th will be issued a $0.4175 dividend. This is a boost from Rexford Industrial Realty’s previous quarterly dividend of $0.42. The ex-dividend date of this dividend is Monday, September 30th. This represents a $1.67 dividend on an annualized basis and a dividend yield of 3.55%. Rexford Industrial Realty’s payout ratio is 153.21%.

Insider Activity

In related news, CFO Laura E. Clark sold 14,185 shares of the firm’s 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 filing with the Securities & Exchange Commission, which is available through this link. In other news, CFO Laura E. Clark sold 14,185 shares of the firm’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $50.15, for a total value of $711,377.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Howard Schwimmer sold 30,358 shares of Rexford Industrial Realty stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $48.86, for a total transaction of $1,483,291.88. Following the transaction, the chief executive officer now directly owns 50,673 shares of the company’s stock, valued at approximately $2,475,882.78. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.20% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on REXR. Evercore ISI increased their price target on Rexford Industrial Realty from $57.00 to $58.00 and gave the stock an “outperform” rating in a research note on Monday, September 16th. JPMorgan Chase & Co. increased their target price on Rexford Industrial Realty from $47.00 to $52.00 and gave the stock a “neutral” rating in a research report on Thursday, July 25th. Wells Fargo & Company dropped their price target on Rexford Industrial Realty from $66.00 to $61.00 and set an “overweight” rating for the company in a research note on Wednesday, August 28th. StockNews.com upgraded shares of Rexford Industrial Realty from a “sell” rating to a “hold” rating in a research report on Monday, July 22nd. Finally, Scotiabank upped their target price on shares of Rexford Industrial Realty from $51.00 to $55.00 and gave the stock a “sector outperform” rating in a research report on Monday, August 26th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $52.50.

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.