Trade Report: Today, IndexIQ Advisors LLC invests in 12,889 by buying Rexford Industrial Realty Inc (REXR) shares

Today, IndexIQ Advisors LLC invests in 12,889 by buying Rexford Industrial Realty Inc (REXR) shares

IndexIQ Advisors LLC increased its stake in Rexford Industrial Realty Inc (NASDAQ:REXR) by 24.3% during the third quarter, Holdings Channel reports. The fund owned 65,975 shares of the company’s stock after buying an additional 12,889 shares during the period. IndexIQ Advisors LLC owned 0.10% of Rexford Industrial Realty worth $1,510,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Strs Ohio increased its position 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 valued at $2,505,000 after buying an additional 17,917 shares during the last quarter. Insight Capital Research & Management Inc. bought a new position in shares of Rexford Industrial Realty during the second quarter valued at approximately $2,899,000. Sumitomo Mitsui Trust Holdings Inc. increased its position in shares of Rexford Industrial Realty by 17.6% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 46,382 shares of the company’s stock valued at $978,000 after buying an additional 6,943 shares during the last quarter. Bank of New York Mellon Corp increased its position in shares of Rexford Industrial Realty by 18.8% in the second quarter. Bank of New York Mellon Corp now owns 431,451 shares of the company’s stock valued at $9,098,000 after buying an additional 68,382 shares during the last quarter. Finally, Ngam Advisors L.P. increased its position in shares of Rexford Industrial Realty by 27.0% in the second quarter. Ngam Advisors L.P. now owns 253,704 shares of the company’s stock valued at $5,351,000 after buying an additional 54,000 shares during the last quarter.

Shares of Rexford Industrial Realty Inc (NASDAQ:REXR) traded down 0.05% on Friday, hitting $22.18. The stock had a trading volume of 98,104 shares. Rexford Industrial Realty Inc has a 1-year low of $15.14 and a 1-year high of $23.38. The firm has a 50 day moving average of $21.41 and a 200-day moving average of $21.44. The firm has a market capitalization of $1.46 billion and a price-to-earnings ratio of 78.93.

Rexford Industrial Realty (NASDAQ:REXR) last released its quarterly earnings results on Wednesday, November 2nd. The company reported $0.22 earnings per share for the quarter, topping the consensus estimate of $0.21 by $0.01. The firm earned $32.94 million during the quarter, compared to the consensus estimate of $27.68 million. The company’s revenue for the quarter was up 41.2% compared to the same quarter last year. During the same period in the previous year, the company posted $0.20 EPS. Equities analysts predict that Rexford Industrial Realty Inc will post $0.87 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 17th. Investors of record on Friday, December 30th will be paid a $0.135 dividend. The ex-dividend date of this dividend is Wednesday, December 28th. This represents a $0.54 dividend on an annualized basis and a yield of 2.43%.

REXR has been the topic of several recent research reports. National Securities reaffirmed a “hold” rating and set a $22.00 target price (up from $20.00) on shares of Rexford Industrial Realty in a report on Thursday, August 4th. Jefferies Group reaffirmed a “buy” rating on shares of Rexford Industrial Realty in a report on Thursday, August 18th. DA Davidson lifted their target price on Rexford Industrial Realty from $22.06 to $27.00 and gave the stock a “buy” rating in a report on Friday, August 26th. Finally, Zacks Investment Research downgraded Rexford Industrial Realty from a “hold” rating to a “sell” rating in a report on Thursday, October 20th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $24.00.

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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