Rexford Industrial Realty, Inc. (NYSE:REXR) Shares Sold by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. trimmed its stake in Rexford Industrial Realty, Inc. (NYSE:REXR) by 34.2% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 238,553 shares of the real estate investment trust’s stock after selling 123,934 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned approximately 0.11% of Rexford Industrial Realty worth $12,002,000 at the end of the most recent quarter.

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

Insider Buying and Selling at Rexford Industrial Realty

In other Rexford Industrial Realty news, CFO Laura E. Clark sold 14,185 shares of the company’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $50.15, for a total transaction of $711,377.75. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 1.20% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on REXR. Wells Fargo & Company lowered their price target on Rexford Industrial Realty from $66.00 to $61.00 and set an “overweight” rating for the company in a research report on Wednesday, August 28th. Evercore ISI reissued an “outperform” rating on shares of Rexford Industrial Realty in a research report on Friday, October 18th. StockNews.com downgraded Rexford Industrial Realty from a “hold” rating to a “sell” rating in a research report on Monday, October 21st. Mizuho lowered their price target on Rexford Industrial Realty from $50.00 to $49.00 and set a “neutral” rating for the company in a research report on Thursday, September 5th. Finally, Truist Financial decreased their target price on Rexford Industrial Realty from $54.00 to $50.00 and set a “buy” rating for the company in a research report on Tuesday, November 12th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $51.09.

Rexford Industrial Realty Trading Up 0.6 %

NYSE:REXR opened at $42.01 on Monday. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.20 and a current ratio of 1.20. Rexford Industrial Realty, Inc. has a one year low of $41.16 and a one year high of $58.02. The business’s 50-day simple moving average is $46.92 and its 200 day simple moving average is $47.05. The stock has a market cap of $9.34 billion, a price-to-earnings ratio of 34.15, a price-to-earnings-growth ratio of 2.01 and a beta of 0.94.

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

Rexford Industrial Realty Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be paid a dividend of $0.4175 per share. This represents a $1.67 annualized dividend and a yield of 3.98%. The ex-dividend date is Tuesday, December 31st. Rexford Industrial Realty’s payout ratio is currently 135.77%.

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.