Prudential Financial Inc. acquired a new stake in Rexford Industrial Realty Inc (NASDAQ:REXR) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,533,498 shares of the company’s stock, valued at approximately $32,341,000. Prudential Financial Inc. owned about 2.33% of Rexford Industrial Realty at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP boosted its stake in shares of Rexford Industrial Realty by 7.2% in the second quarter. Dimensional Fund Advisors LP now owns 645,613 shares of the company’s stock valued at $13,616,000 after buying an additional 43,369 shares during the period. Teacher Retirement System of Texas boosted its stake in shares of Rexford Industrial Realty by 33.2% in the second quarter. Teacher Retirement System of Texas now owns 9,102 shares of the company’s stock valued at $192,000 after buying an additional 2,271 shares during the period. Kayne Anderson Rudnick Investment Management LLC boosted its stake in shares of Rexford Industrial Realty by 70.9% in the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 112,415 shares of the company’s stock valued at $2,371,000 after buying an additional 46,638 shares during the period. UBS Asset Management Americas Inc. boosted its stake in shares of Rexford Industrial Realty by 6.9% in the second quarter. UBS Asset Management Americas Inc. now owns 84,974 shares of the company’s stock valued at $1,792,000 after buying an additional 5,500 shares during the period. Finally, Nationwide Fund Advisors boosted its stake in shares of Rexford Industrial Realty by 29.5% in the second quarter. Nationwide Fund Advisors now owns 87,063 shares of the company’s stock valued at $1,836,000 after buying an additional 19,842 shares during the period.

Shares of Rexford Industrial Realty Inc (NASDAQ:REXR) traded up 0.50% during mid-day trading on Tuesday, hitting $22.07. The company had a trading volume of 47,179 shares. The firm’s 50-day moving average price is $22.18 and its 200 day moving average price is $20.30. Rexford Industrial Realty Inc has a one year low of $13.33 and a one year high of $23.02. The company has a market capitalization of $1.45 billion and a P/E ratio of 83.92.

Rexford Industrial Realty (NASDAQ:REXR) last issued its earnings results on Wednesday, August 3rd. The company reported $0.21 EPS for the quarter, meeting the consensus estimate of $0.21. The business had revenue of $30.61 million for the quarter, compared to the consensus estimate of $26.48 million. The business’s revenue was up 34.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.19 EPS. Analysts predict that Rexford Industrial Realty Inc will post $0.86 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, October 17th. Shareholders of record on Friday, September 30th will be given a dividend of $0.135 per share. This represents a $0.54 annualized dividend and a dividend yield of 2.46%. The ex-dividend date is Wednesday, September 28th.

Several brokerages have recently commented on REXR. Citigroup Inc. raised their target price on Rexford Industrial Realty from $18.50 to $22.00 and gave the stock 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 report on Tuesday, July 19th. National Securities reiterated a “hold” rating and set a $22.00 price objective (up from $20.00) on shares of Rexford Industrial Realty in a report on Thursday, August 4th. 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 report on Wednesday, July 6th. Finally, DA Davidson increased their price objective on Rexford Industrial Realty from $22.06 to $27.00 and gave the stock a “buy” rating in a report on Friday, August 26th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Rexford Industrial Realty has an average rating of “Buy” and a consensus target price of $23.75.

About Rexford Industrial Realty

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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