Nisa Investment Advisors LLC Reduces Position in Rexford Industrial Realty, Inc. (NYSE:REXR)

Nisa Investment Advisors LLC lowered its position in Rexford Industrial Realty, Inc. (NYSE:REXR) by 8.3% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 64,521 shares of the real estate investment trust’s stock after selling 5,819 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Rexford Industrial Realty were worth $3,277,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the company. Massmutual Trust Co. FSB ADV lifted its position in shares of Rexford Industrial Realty by 169.4% during the second quarter. Massmutual Trust Co. FSB ADV now owns 555 shares of the real estate investment trust’s stock worth $25,000 after purchasing an additional 349 shares in the last quarter. V Square Quantitative Management LLC acquired a new stake in shares of Rexford Industrial Realty during the second quarter worth about $26,000. UMB Bank n.a. lifted its position in shares of Rexford Industrial Realty by 164.3% during the third quarter. UMB Bank n.a. now owns 719 shares of the real estate investment trust’s stock worth $36,000 after purchasing an additional 447 shares in the last quarter. Headlands Technologies LLC acquired a new stake in shares of Rexford Industrial Realty during the second quarter worth about $41,000. Finally, EverSource Wealth Advisors LLC lifted its position in shares of Rexford Industrial Realty by 1,252.2% during the first quarter. EverSource Wealth Advisors LLC now owns 933 shares of the real estate investment trust’s stock worth $47,000 after purchasing an additional 864 shares in the last quarter. Hedge funds and other institutional investors own 99.52% of the company’s stock.

Insider Transactions at Rexford Industrial Realty

In other news, CFO Laura E. Clark sold 14,185 shares of the firm’s stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $50.15, for a total transaction of $711,377.75. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 1.20% of the company’s stock.

Rexford Industrial Realty Stock Performance

Shares of Rexford Industrial Realty stock opened at $42.55 on Friday. The firm has a market capitalization of $9.46 billion, a P/E ratio of 34.59, a P/E/G ratio of 2.10 and a beta of 0.93. Rexford Industrial Realty, Inc. has a 52 week low of $41.89 and a 52 week high of $58.02. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 0.40. The firm’s 50 day moving average is $48.77 and its two-hundred day moving average is $47.08.

Rexford Industrial Realty (NYSE:REXR) last announced its earnings results on Wednesday, October 16th. The real estate investment trust reported $0.30 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.28). The business had revenue of $241.84 million for the quarter, compared to analysts’ expectations of $235.81 million. Rexford Industrial Realty had a return on equity of 3.35% and a net margin of 30.40%. The business’s revenue was up 17.7% on a year-over-year basis. During the same quarter last year, the business posted $0.56 earnings per share. Research analysts forecast that Rexford Industrial Realty, Inc. will post 2.34 EPS for the current fiscal year.

Rexford Industrial Realty Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be given a dividend of $0.4175 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $1.67 dividend on an annualized basis and a dividend yield of 3.92%. Rexford Industrial Realty’s dividend payout ratio (DPR) is presently 135.77%.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on REXR. Wells Fargo & Company reduced their target price on shares of Rexford Industrial Realty from $66.00 to $61.00 and set an “overweight” rating on the stock in a report on Wednesday, August 28th. Mizuho reduced their target price on shares of Rexford Industrial Realty from $50.00 to $49.00 and set a “neutral” rating on the stock in a report on Thursday, September 5th. Truist Financial raised their target price on shares of Rexford Industrial Realty from $50.00 to $54.00 and gave the company a “buy” rating in a report on Tuesday, July 30th. Bank of America cut shares of Rexford Industrial Realty from a “buy” rating to a “neutral” rating and reduced their target price for the company from $66.00 to $49.00 in a report on Monday, October 21st. Finally, Evercore ISI reaffirmed an “outperform” rating on shares of Rexford Industrial Realty in a report on Friday, October 18th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $51.45.

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.