Millennium Management LLC Lowers Stake in Rexford Industrial Realty Inc (NYSE:REXR)

Millennium Management LLC lowered its stake in shares of Rexford Industrial Realty Inc (NYSE:REXR) by 40.9% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 299,432 shares of the real estate investment trust’s stock after selling 207,248 shares during the quarter. Millennium Management LLC owned approximately 0.32% of Rexford Industrial Realty worth $8,824,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of REXR. Ramsey Quantitative Systems raised its position in shares of Rexford Industrial Realty by 3.2% in the 4th quarter. Ramsey Quantitative Systems now owns 10,028 shares of the real estate investment trust’s stock valued at $296,000 after acquiring an additional 315 shares during the period. Advisor Group Inc. raised its position in shares of Rexford Industrial Realty by 5.9% in the 4th quarter. Advisor Group Inc. now owns 7,168 shares of the real estate investment trust’s stock valued at $212,000 after acquiring an additional 400 shares during the period. D.A. Davidson & CO. raised its position in shares of Rexford Industrial Realty by 6.5% in the 4th quarter. D.A. Davidson & CO. now owns 7,110 shares of the real estate investment trust’s stock valued at $210,000 after acquiring an additional 435 shares during the period. American International Group Inc. raised its position in shares of Rexford Industrial Realty by 0.9% in the 4th quarter. American International Group Inc. now owns 60,771 shares of the real estate investment trust’s stock valued at $1,791,000 after acquiring an additional 523 shares during the period. Finally, Natixis Advisors L.P. raised its position in shares of Rexford Industrial Realty by 0.3% in the 4th quarter. Natixis Advisors L.P. now owns 207,178 shares of the real estate investment trust’s stock valued at $6,105,000 after acquiring an additional 553 shares during the period. 99.76% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NYSE:REXR traded down $0.38 during midday trading on Wednesday, hitting $35.71. The stock had a trading volume of 118 shares, compared to its average volume of 584,266. Rexford Industrial Realty Inc has a 12 month low of $28.17 and a 12 month high of $37.53. The stock has a market capitalization of $3.49 billion, a PE ratio of 32.03, a P/E/G ratio of 4.30 and a beta of 0.87. The company has a current ratio of 8.81, a quick ratio of 8.81 and a debt-to-equity ratio of 0.43.

Rexford Industrial Realty (NYSE:REXR) last announced its quarterly earnings results on Tuesday, February 12th. The real estate investment trust reported $0.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.27 by $0.02. The business had revenue of $56.13 million during the quarter, compared to the consensus estimate of $55.81 million. Rexford Industrial Realty had a return on equity of 2.98% and a net margin of 21.82%. The company’s quarterly revenue was up 22.6% on a year-over-year basis. During the same quarter last year, the firm posted $0.26 EPS. On average, equities analysts predict that Rexford Industrial Realty Inc will post 1.18 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Friday, March 29th were given a $0.185 dividend. This represents a $0.74 dividend on an annualized basis and a yield of 2.07%. The ex-dividend date of this dividend was Thursday, March 28th. This is a boost from Rexford Industrial Realty’s previous quarterly dividend of $0.16. Rexford Industrial Realty’s payout ratio is currently 66.07%.

Several brokerages have commented on REXR. Zacks Investment Research upgraded shares of Rexford Industrial Realty from a “hold” rating to a “buy” rating and set a $39.00 target price on the stock in a report on Friday, February 15th. Wells Fargo & Co raised their price target on shares of Rexford Industrial Realty from $32.00 to $37.00 and gave the stock a “market perform” rating in a research note on Thursday, March 14th. They noted that the move was a valuation call. Finally, JPMorgan Chase & Co. raised shares of Rexford Industrial Realty from an “underweight” rating to a “neutral” rating in a research note on Wednesday, December 19th. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $36.25.

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Rexford Industrial Realty Company Profile

Rexford Industrial is a real estate investment trust focused on owning and operating industrial properties in Southern California infill markets. The Company owns 168 properties with approximately 20.6 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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