Metropolitan Life Insurance Co NY Purchases 5,257 Shares of Rexford Industrial Realty Inc (NYSE:REXR)

Metropolitan Life Insurance Co NY lifted its position in shares of Rexford Industrial Realty Inc (NYSE:REXR) by 15.3% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 39,675 shares of the real estate investment trust’s stock after purchasing an additional 5,257 shares during the quarter. Metropolitan Life Insurance Co NY’s holdings in Rexford Industrial Realty were worth $1,746,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in REXR. Voloridge Investment Management LLC purchased a new position in Rexford Industrial Realty during the third quarter valued at $292,000. Barclays PLC raised its stake in Rexford Industrial Realty by 1.3% during the third quarter. Barclays PLC now owns 232,607 shares of the real estate investment trust’s stock valued at $10,239,000 after buying an additional 3,008 shares during the last quarter. Public Employees Retirement System of Ohio raised its stake in Rexford Industrial Realty by 5.0% during the third quarter. Public Employees Retirement System of Ohio now owns 114,534 shares of the real estate investment trust’s stock valued at $5,042,000 after buying an additional 5,487 shares during the last quarter. Penserra Capital Management LLC purchased a new position in Rexford Industrial Realty during the third quarter valued at $6,884,000. Finally, California State Teachers Retirement System raised its stake in Rexford Industrial Realty by 6.8% during the third quarter. California State Teachers Retirement System now owns 170,758 shares of the real estate investment trust’s stock valued at $7,517,000 after buying an additional 10,823 shares during the last quarter. Institutional investors own 99.51% of the company’s stock.

In other news, CFO Adeel Khan sold 49,721 shares of the business’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $46.01, for a total value of $2,287,663.21. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Michael S. Frankel sold 12,536 shares of the business’s stock in a transaction on Monday, November 4th. The stock was sold at an average price of $47.46, for a total value of $594,958.56. Following the completion of the transaction, the chief executive officer now owns 71,834 shares of the company’s stock, valued at approximately $3,409,241.64. The disclosure for this sale can be found here. Insiders sold 97,720 shares of company stock valued at $4,583,782 in the last 90 days. Company insiders own 1.70% of the company’s stock.

REXR stock opened at $46.99 on Thursday. Rexford Industrial Realty Inc has a 1-year low of $28.17 and a 1-year high of $48.80. The business has a fifty day moving average price of $46.93 and a 200-day moving average price of $43.11. The company has a debt-to-equity ratio of 0.38, a current ratio of 5.82 and a quick ratio of 5.82. The stock has a market capitalization of $5.31 billion, a P/E ratio of 41.96, a P/E/G ratio of 5.57 and a beta of 0.77.

Rexford Industrial Realty (NYSE:REXR) last posted its quarterly earnings results on Tuesday, October 29th. The real estate investment trust reported $0.31 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.30 by $0.01. Rexford Industrial Realty had a return on equity of 2.61% and a net margin of 21.32%. The firm had revenue of $68.06 million during the quarter, compared to analysts’ expectations of $67.50 million. During the same quarter in the previous year, the business earned $0.28 earnings per share. The company’s revenue was up 23.3% on a year-over-year basis. As a group, analysts anticipate that Rexford Industrial Realty Inc will post 1.22 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be paid a $0.185 dividend. This represents a $0.74 annualized dividend and a dividend yield of 1.57%. The ex-dividend date is Monday, December 30th. Rexford Industrial Realty’s dividend payout ratio is currently 66.07%.

A number of research analysts have issued reports on REXR shares. Citigroup lifted their price objective on Rexford Industrial Realty from $42.00 to $47.00 and gave the company a “neutral” rating in a research note on Monday, September 23rd. JPMorgan Chase & Co. lifted their price objective on Rexford Industrial Realty from $43.00 to $47.00 and gave the company a “neutral” rating in a research note on Tuesday. Zacks Investment Research cut Rexford Industrial Realty from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 22nd. Finally, ValuEngine cut Rexford Industrial Realty from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. Five research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $45.40.

Rexford Industrial Realty Profile

Rexford Industrial is a real estate investment trust focused on owning and operating industrial properties in Southern California infill markets. The Company owns 179 properties with approximately 22.1 million rentable square feet and manages an additional 20 properties with approximately 1.2 million rentable square feet.

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

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