Insight Capital Research & Management Inc. bought a new position in shares of Rexford Industrial Realty Inc (NASDAQ:REXR) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 137,474 shares of the company’s stock, valued at approximately $2,899,000.
Separately, Strs Ohio raised its stake in shares of Rexford Industrial Realty by 17.8% in the second quarter. Strs Ohio now owns 118,817 shares of the company’s stock worth $2,505,000 after buying an additional 17,917 shares during the period.
Shares of Rexford Industrial Realty Inc (NASDAQ:REXR) traded down 2.40% on Monday, reaching $22.34. 184,285 shares of the company traded hands. The stock has a 50 day moving average of $22.29 and a 200 day moving average of $20.68. The stock has a market cap of $1.47 billion and a price-to-earnings ratio of 84.94. Rexford Industrial Realty Inc has a 52-week low of $14.16 and a 52-week high of $23.38.
Rexford Industrial Realty (NASDAQ:REXR) last issued its earnings results on Wednesday, August 3rd. The company reported $0.21 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.21. The firm earned $30.61 million during the quarter, compared to the consensus estimate of $26.48 million. During the same period in the previous year, the company posted $0.19 EPS. The firm’s revenue for the quarter was up 34.7% on a year-over-year basis. On average, analysts expect that Rexford Industrial Realty Inc will post $0.86 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, October 17th. Shareholders of record on Friday, September 30th will be paid a $0.135 dividend. This represents a $0.54 annualized dividend and a yield of 2.42%. The ex-dividend date of this dividend is Wednesday, September 28th.
A number of research analysts have recently weighed in on REXR shares. Zacks Investment Research upgraded shares of Rexford Industrial Realty from a “hold” rating to a “buy” rating and set a $24.00 price target on the stock in a report on Wednesday, July 6th. TheStreet upgraded shares of Rexford Industrial Realty from a “hold” rating to a “buy” rating in a report on Tuesday, July 19th. DA Davidson raised their price target on shares of Rexford Industrial Realty from $22.06 to $27.00 and gave the company a “buy” rating in a report on Friday, August 26th. Jefferies Group restated a “buy” rating on shares of Rexford Industrial Realty in a report on Thursday, August 18th. Finally, National Securities restated a “hold” rating and set a $22.00 price target (up previously from $20.00) on shares of Rexford Industrial Realty in a report on Thursday, August 4th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $23.75.
Rexford Industrial Realty Company Profile
Rexford Industrial Realty, Inc is a self-administered and self-managed full-service real estate investment trust (REIT). The Company is focused on owning, operating and acquiring industrial properties in Southern California infill markets. The Company’s consolidated portfolio consisted of approximately 119 properties with over 12.0 million rentable square feet.
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