The PNC Financial Services Group Inc. Sold shares of Rexford Industrial Realty Inc (REXR)

The PNC Financial Services Group Inc. Sold shares of Rexford Industrial Realty Inc (REXR)

PNC Financial Services Group Inc. reduced its position in Rexford Industrial Realty Inc (NASDAQ:REXR) by 20.2% during the second quarter, Holdings Channel reports. The firm owned 7,630 shares of the company’s stock after selling 1,930 shares during the period. PNC Financial Services Group Inc.’s holdings in Rexford Industrial Realty were worth $161,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of the company. Emerald Acquisition Ltd. purchased a new position in shares of Rexford Industrial Realty during the second quarter worth about $17,551,000. Bank of New York Mellon Corp raised 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 worth $9,098,000 after buying an additional 68,382 shares during the period. Manning & Napier Advisors LLC raised its position in shares of Rexford Industrial Realty by 12.5% in the second quarter. Manning & Napier Advisors LLC now owns 419,630 shares of the company’s stock worth $8,848,000 after buying an additional 46,462 shares during the period. Ngam Advisors L.P. raised 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 worth $5,351,000 after buying an additional 54,000 shares during the period. Finally, California State Teachers Retirement System raised its position in shares of Rexford Industrial Realty by 17.0% in the second quarter. California State Teachers Retirement System now owns 137,596 shares of the company’s stock worth $2,902,000 after buying an additional 19,995 shares during the period.

Rexford Industrial Realty Inc (NASDAQ:REXR) traded down 0.74% during midday trading on Friday, reaching $21.33. The company had a trading volume of 426,492 shares. Rexford Industrial Realty Inc has a 1-year low of $14.51 and a 1-year high of $23.38. The stock has a market capitalization of $1.40 billion and a PE ratio of 81.10. The firm’s 50 day moving average is $22.23 and its 200 day moving average is $20.74.

Rexford Industrial Realty (NASDAQ:REXR) last released its quarterly earnings data on Wednesday, August 3rd. The company reported $0.21 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.21. The company earned $30.61 million during the quarter, compared to analyst estimates of $26.48 million. During the same quarter in the prior year, the company earned $0.19 EPS. The business’s revenue was up 34.7% on a year-over-year basis. On average, equities analysts anticipate that Rexford Industrial Realty Inc will post $0.86 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, October 17th. Stockholders of record on Friday, September 30th will be issued a $0.135 dividend. The ex-dividend date of this dividend is Wednesday, September 28th. This represents a $0.54 dividend on an annualized basis and a dividend yield of 2.53%.

A number of research firms have weighed in on REXR. Zacks Investment Research upgraded Rexford Industrial Realty from a “hold” rating to a “buy” rating and set a $24.00 price objective for the company in a research note on Wednesday, July 6th. DA Davidson raised their target price on Rexford Industrial Realty from $22.06 to $27.00 and gave the company a “buy” rating in a research report on Friday, August 26th. Citigroup Inc. raised their target price on Rexford Industrial Realty from $18.50 to $22.00 and gave the company a “neutral” rating in a research report on Thursday, July 7th. TheStreet upgraded Rexford Industrial Realty from a “hold” rating to a “buy” rating in a research report on Tuesday, July 19th. Finally, National Securities restated a “hold” rating and set a $22.00 target price (up from $20.00) on shares of Rexford Industrial Realty in a research report on Thursday, August 4th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $23.75.

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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