TD Asset Management Inc. Purchases 17,000 Shares of Rexford Industrial Realty, Inc. (NYSE:REXR)

TD Asset Management Inc. boosted its position in Rexford Industrial Realty, Inc. (NYSE:REXR) by 23.7% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 88,836 shares of the real estate investment trust’s stock after buying an additional 17,000 shares during the period. TD Asset Management Inc.’s holdings in Rexford Industrial Realty were worth $5,041,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of the stock. Vanguard Group Inc. increased its holdings in Rexford Industrial Realty by 7.4% during the 2nd quarter. Vanguard Group Inc. now owns 19,885,279 shares of the real estate investment trust’s stock worth $1,132,467,000 after purchasing an additional 1,370,118 shares in the last quarter. BlackRock Inc. increased its holdings in Rexford Industrial Realty by 1.7% during the 2nd quarter. BlackRock Inc. now owns 18,148,451 shares of the real estate investment trust’s stock worth $1,033,556,000 after purchasing an additional 308,761 shares in the last quarter. State Street Corp increased its holdings in Rexford Industrial Realty by 7.3% during the 2nd quarter. State Street Corp now owns 6,022,863 shares of the real estate investment trust’s stock worth $344,439,000 after purchasing an additional 410,140 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in Rexford Industrial Realty by 0.6% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 4,103,527 shares of the real estate investment trust’s stock worth $233,696,000 after purchasing an additional 23,851 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its holdings in Rexford Industrial Realty by 2.1% during the 2nd quarter. JPMorgan Chase & Co. now owns 3,790,608 shares of the real estate investment trust’s stock worth $215,876,000 after purchasing an additional 78,613 shares in the last quarter. 99.76% of the stock is owned by institutional investors and hedge funds.

A number of analysts have commented on the company. Wells Fargo & Company raised Rexford Industrial Realty from an “equal weight” rating to an “overweight” rating and set a $83.00 price objective for the company in a report on Tuesday, December 14th. Zacks Investment Research downgraded Rexford Industrial Realty from a “buy” rating to a “hold” rating in a research note on Thursday. JPMorgan Chase & Co. upgraded Rexford Industrial Realty from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $78.00 to $84.00 in a research note on Monday, December 20th. Finally, Robert W. Baird restated an “outperform” rating and issued a $82.00 target price (up previously from $74.00) on shares of Rexford Industrial Realty in a research note on Monday, October 25th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $75.80.

In related news, CEO Michael S. Frankel sold 115,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 10th. The stock was sold at an average price of $69.66, for a total value of $8,010,900.00. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 1.50% of the stock is currently owned by corporate insiders.

Shares of NYSE REXR opened at $74.04 on Friday. Rexford Industrial Realty, Inc. has a twelve month low of $45.90 and a twelve month high of $81.68. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.32. The stock’s 50 day moving average price is $74.25 and its 200-day moving average price is $65.60. The company has a market capitalization of $11.22 billion, a PE ratio of 110.51, a PEG ratio of 2.96 and a beta of 0.70.

Rexford Industrial Realty (NYSE:REXR) last posted its quarterly earnings data on Tuesday, October 19th. The real estate investment trust reported $0.23 EPS for the quarter, beating the consensus estimate of $0.12 by $0.11. Rexford Industrial Realty had a return on equity of 2.97% and a net margin of 26.46%. The business had revenue of $115.40 million for the quarter, compared to the consensus estimate of $111.08 million. During the same quarter in the prior year, the business earned $0.33 earnings per share. Rexford Industrial Realty’s revenue for the quarter was up 37.6% on a year-over-year basis. As a group, research analysts expect that Rexford Industrial Realty, Inc. will post 1.62 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 18th. Investors of record on Friday, December 31st will be paid a $0.24 dividend. The ex-dividend date is Thursday, December 30th. This represents a $0.96 annualized dividend and a yield of 1.30%. Rexford Industrial Realty’s payout ratio is 143.28%.

About Rexford Industrial Realty

Rexford Industrial Realty, Inc is a self-administered and self-managed real estate investment trust, which engages in owning, operating, and acquiring industrial properties. The company was founded on January 18, 2013 and is headquartered in Los Angeles, CA.

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Institutional Ownership by Quarter for Rexford Industrial Realty (NYSE:REXR)

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