Rexford Industrial Realty, Inc. (NYSE:REXR) Shares Sold by Stevens Capital Management LP

Stevens Capital Management LP lowered its stake in shares of Rexford Industrial Realty, Inc. (NYSE:REXR) by 2.1% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 12,481 shares of the real estate investment trust’s stock after selling 263 shares during the period. Stevens Capital Management LP’s holdings in Rexford Industrial Realty were worth $700,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in REXR. Principal Financial Group Inc. lifted its stake in shares of Rexford Industrial Realty by 0.3% in the 3rd quarter. Principal Financial Group Inc. now owns 13,579,313 shares of the real estate investment trust’s stock valued at $670,137,000 after purchasing an additional 46,811 shares during the last quarter. Invesco Ltd. raised its holdings in shares of Rexford Industrial Realty by 1.9% in the 3rd quarter. Invesco Ltd. now owns 6,484,017 shares of the real estate investment trust’s stock valued at $319,986,000 after buying an additional 120,596 shares during the period. Schroder Investment Management Group raised its holdings in shares of Rexford Industrial Realty by 0.5% in the 3rd quarter. Schroder Investment Management Group now owns 2,582,529 shares of the real estate investment trust’s stock valued at $127,448,000 after buying an additional 12,327 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in Rexford Industrial Realty by 4.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,368,955 shares of the real estate investment trust’s stock worth $116,908,000 after purchasing an additional 93,050 shares during the period. Finally, Bank of New York Mellon Corp increased its holdings in Rexford Industrial Realty by 0.4% during the 3rd quarter. Bank of New York Mellon Corp now owns 2,034,769 shares of the real estate investment trust’s stock worth $100,416,000 after purchasing an additional 8,238 shares during the period. Institutional investors and hedge funds own 99.52% of the company’s stock.

Insider Transactions at Rexford Industrial Realty

In other news, General Counsel David E. Lanzer sold 18,113 shares of the stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $52.69, for a total transaction of $954,373.97. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 1.10% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on REXR shares. Barclays increased their price objective on Rexford Industrial Realty from $45.00 to $46.00 and gave the company an “underweight” rating in a report on Tuesday. TheStreet upgraded Rexford Industrial Realty from a “c+” rating to a “b-” rating in a report on Thursday, February 1st. Mizuho reiterated a “neutral” rating and issued a $52.00 price objective on shares of Rexford Industrial Realty in a report on Tuesday, April 2nd. Truist Financial dropped their price objective on Rexford Industrial Realty from $57.00 to $53.00 and set a “buy” rating on the stock in a report on Tuesday, April 16th. Finally, JPMorgan Chase & Co. downgraded Rexford Industrial Realty from an “overweight” rating to a “neutral” rating and set a $55.00 price objective on the stock. in a report on Wednesday, February 7th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $54.73.

Rexford Industrial Realty Stock Performance

Rexford Industrial Realty stock traded up $0.46 during mid-day trading on Thursday, reaching $43.00. 2,177,960 shares of the company were exchanged, compared to its average volume of 1,985,183. Rexford Industrial Realty, Inc. has a twelve month low of $41.56 and a twelve month high of $58.02. The firm’s 50-day simple moving average is $49.70 and its two-hundred day simple moving average is $50.51. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.35 and a current ratio of 3.21. The firm has a market cap of $9.37 billion, a PE ratio of 39.03, a price-to-earnings-growth ratio of 1.92 and a beta of 0.86.

Rexford Industrial Realty (NYSE:REXR) last posted its quarterly earnings data on Thursday, April 18th. The real estate investment trust reported $0.27 earnings per share for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.30). Rexford Industrial Realty had a return on equity of 3.04% and a net margin of 28.84%. The company had revenue of $214.10 million for the quarter, compared to analyst estimates of $207.39 million. During the same period in the previous year, the business posted $0.52 earnings per share. The firm’s revenue was up 15.0% compared to the same quarter last year. Equities analysts predict that Rexford Industrial Realty, Inc. will post 2.33 earnings per share for the current fiscal year.

Rexford Industrial Realty Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Friday, June 28th will be paid a dividend of $0.417 per share. This represents a $1.67 dividend on an annualized basis and a dividend yield of 3.88%. The ex-dividend date of this dividend is Friday, June 28th. Rexford Industrial Realty’s dividend payout ratio (DPR) is 153.21%.

About Rexford Industrial Realty

Rexford Industrial creates value by investing in, operating and redeveloping industrial properties throughout infill Southern California, the world's fourth largest industrial market and consistently the highest-demand with lowest-supply major market in the nation. The Company's highly differentiated strategy enables internal and external growth opportunities through its proprietary value creation and asset management capabilities.