PNC Financial Services Group Inc. Buys 2,256 Shares of Rexford Industrial Realty, Inc. (NYSE:REXR)

PNC Financial Services Group Inc. lifted its stake in shares of Rexford Industrial Realty, Inc. (NYSE:REXR) by 24.4% in the third quarter, HoldingsChannel reports. The fund owned 11,501 shares of the real estate investment trust’s stock after acquiring an additional 2,256 shares during the period. PNC Financial Services Group Inc.’s holdings in Rexford Industrial Realty were worth $653,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in REXR. First Trust Advisors LP grew its stake in shares of Rexford Industrial Realty by 419.1% during the 1st quarter. First Trust Advisors LP now owns 90,000 shares of the real estate investment trust’s stock valued at $3,223,000 after acquiring an additional 72,663 shares during the period. Rafferty Asset Management LLC grew its stake in shares of Rexford Industrial Realty by 61.5% during the 2nd quarter. Rafferty Asset Management LLC now owns 10,520 shares of the real estate investment trust’s stock valued at $599,000 after acquiring an additional 4,008 shares during the period. Citigroup Inc. grew its stake in shares of Rexford Industrial Realty by 1.4% during the 2nd quarter. Citigroup Inc. now owns 302,185 shares of the real estate investment trust’s stock valued at $17,210,000 after acquiring an additional 4,171 shares during the period. Van ECK Associates Corp boosted its stake in Rexford Industrial Realty by 75.6% in the 2nd quarter. Van ECK Associates Corp now owns 31,933 shares of the real estate investment trust’s stock worth $1,819,000 after purchasing an additional 13,747 shares during the period. Finally, BNP Paribas Arbitrage SA boosted its stake in Rexford Industrial Realty by 174.3% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 170,675 shares of the real estate investment trust’s stock worth $9,720,000 after purchasing an additional 108,464 shares during the period. Institutional investors own 99.76% of the company’s stock.

In related news, CEO Michael S. Frankel sold 115,000 shares of the stock in a transaction on Wednesday, November 10th. The stock was sold at an average price of $69.66, for a total transaction of $8,010,900.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.50% of the company’s stock.

Several research firms have weighed in on REXR. Wells Fargo & Company upgraded Rexford Industrial Realty from an “equal weight” rating to an “overweight” rating and set a $83.00 price target for the company in a research note on Tuesday, December 14th. Robert W. Baird restated an “outperform” rating and issued a $82.00 price target (up from $74.00) on shares of Rexford Industrial Realty in a research note on Monday, October 25th. JPMorgan Chase & Co. upgraded Rexford Industrial Realty from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $78.00 to $84.00 in a research note on Monday, December 20th. Finally, Zacks Investment Research downgraded Rexford Industrial Realty from a “buy” rating to a “hold” rating in a research note on Thursday. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, Rexford Industrial Realty has a consensus rating of “Buy” and a consensus target price of $75.80.

NYSE REXR opened at $74.04 on Friday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.90 and a current ratio of 0.90. The company has a market capitalization of $11.22 billion, a P/E ratio of 110.51, a P/E/G ratio of 2.96 and a beta of 0.70. Rexford Industrial Realty, Inc. has a one year low of $45.90 and a one year high of $81.68. The stock has a 50 day moving average price of $74.25 and a 200-day moving average price of $65.60.

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

The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 18th. Investors of record on Friday, December 31st will be issued a dividend of $0.24 per share. 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 presently 143.28%.

Rexford Industrial Realty Company Profile

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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