Rexford Industrial Realty Inc (REXR) Position Lowered by Manning & Napier Advisors LLC

Manning & Napier Advisors LLC decreased its position in shares of Rexford Industrial Realty Inc (NASDAQ:REXR) by 2.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 346,440 shares of the company’s stock after selling 7,670 shares during the period. Manning & Napier Advisors LLC owned 0.52% of Rexford Industrial Realty worth $9,504,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in the stock. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its stake in shares of Rexford Industrial Realty by 1.8% in the first quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 10,347 shares of the company’s stock worth $233,000 after buying an additional 181 shares during the last quarter. Russell Investments Group Ltd. increased its stake in shares of Rexford Industrial Realty by 8.5% in the first quarter. Russell Investments Group Ltd. now owns 1,029,288 shares of the company’s stock worth $23,169,000 after buying an additional 80,389 shares during the last quarter. State of New Jersey Common Pension Fund D increased its stake in shares of Rexford Industrial Realty by 7.6% in the first quarter. State of New Jersey Common Pension Fund D now owns 510,000 shares of the company’s stock worth $11,485,000 after buying an additional 36,000 shares during the last quarter. Fisher Asset Management LLC increased its stake in shares of Rexford Industrial Realty by 35.7% in the first quarter. Fisher Asset Management LLC now owns 71,540 shares of the company’s stock worth $1,611,000 after buying an additional 18,806 shares during the last quarter. Finally, Navellier & Associates Inc bought a new stake in shares of Rexford Industrial Realty during the first quarter worth about $802,000.

Rexford Industrial Realty Inc (NASDAQ:REXR) traded down 0.50% during midday trading on Friday, reaching $27.78. 241,641 shares of the company’s stock were exchanged. The firm’s 50 day moving average is $27.62 and its 200 day moving average is $24.72. Rexford Industrial Realty Inc has a 52 week low of $20.05 and a 52 week high of $28.47. The firm has a market capitalization of $1.84 billion and a price-to-earnings ratio of 71.41.

Rexford Industrial Realty (NASDAQ:REXR) last announced its earnings results on Wednesday, May 3rd. The company reported $0.23 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.23. The business had revenue of $35.35 million during the quarter, compared to the consensus estimate of $35.53 million. Rexford Industrial Realty had a return on equity of 1.96% and a net margin of 16.18%. The business’s quarterly revenue was up 28.5% on a year-over-year basis. During the same period in the prior year, the company posted $0.22 EPS. On average, equities analysts anticipate that Rexford Industrial Realty Inc will post $0.19 earnings per share for the current year.

The firm also recently announced a dividend, which was paid on Friday, June 30th. Stockholders of record on Thursday, June 15th were paid a dividend of $0.367 per share. The ex-dividend date of this dividend was Tuesday, June 13th.

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A number of analysts have recently issued reports on the stock. Stifel Nicolaus reaffirmed a “buy” rating and set a $30.00 price target (up previously from $27.50) on shares of Rexford Industrial Realty in a report on Wednesday, June 14th. Jefferies Group LLC reiterated a “buy” rating and issued a $32.00 price objective (up previously from $26.00) on shares of Rexford Industrial Realty in a research note on Sunday, June 25th. DA Davidson reiterated a “buy” rating and issued a $33.00 price objective (up previously from $30.00) on shares of Rexford Industrial Realty in a research note on Thursday, July 13th. FBR & Co assumed coverage on shares of Rexford Industrial Realty in a research note on Tuesday, July 11th. They issued a “mkt perform” rating and a $26.00 price objective on the stock. Finally, Wunderlich reiterated a “hold” rating and issued a $24.00 price objective (up previously from $22.00) on shares of Rexford Industrial Realty in a research note on Tuesday, May 9th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $27.71.

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. Rexford Industrial Realty, L.P. is the operating partnership of the Company.