Rexford Industrial Realty, Inc. (NYSE:REXR) Shares Sold by Profund Advisors LLC

Profund Advisors LLC lessened its holdings in shares of Rexford Industrial Realty, Inc. (NYSE:REXR) by 15.4% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 5,897 shares of the real estate investment trust’s stock after selling 1,074 shares during the quarter. Profund Advisors LLC’s holdings in Rexford Industrial Realty were worth $263,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. increased its position in shares of Rexford Industrial Realty by 2.6% in the first quarter. Vanguard Group Inc. now owns 29,734,952 shares of the real estate investment trust’s stock worth $1,495,668,000 after acquiring an additional 753,098 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its position in Rexford Industrial Realty by 26.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 19,933,431 shares of the real estate investment trust’s stock worth $1,002,654,000 after purchasing an additional 4,197,907 shares during the period. Capital International Investors boosted its position in Rexford Industrial Realty by 687.7% during the 1st quarter. Capital International Investors now owns 19,590,676 shares of the real estate investment trust’s stock worth $985,411,000 after purchasing an additional 17,103,653 shares during the period. Centersquare Investment Management LLC increased its holdings in Rexford Industrial Realty by 1.1% in the 1st quarter. Centersquare Investment Management LLC now owns 3,938,026 shares of the real estate investment trust’s stock valued at $198,083,000 after purchasing an additional 42,632 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its position in Rexford Industrial Realty by 6.4% in the second quarter. Dimensional Fund Advisors LP now owns 3,326,694 shares of the real estate investment trust’s stock valued at $148,337,000 after purchasing an additional 200,027 shares during the period. Hedge funds and other institutional investors own 99.52% of the company’s stock.

Rexford Industrial Realty Trading Down 0.1 %

NYSE:REXR opened at $50.51 on Friday. The company has a market cap of $11.09 billion, a PE ratio of 46.34, a P/E/G ratio of 2.13 and a beta of 0.93. The business’s 50 day moving average is $50.29 and its two-hundred day moving average is $47.68. The company has a quick ratio of 1.73, a current ratio of 1.73 and a debt-to-equity ratio of 0.41. Rexford Industrial Realty, Inc. has a 52 week low of $41.56 and a 52 week high of $58.02.

Rexford Industrial Realty (NYSE:REXR) last posted its quarterly earnings results on Wednesday, July 17th. The real estate investment trust reported $0.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.58 by ($0.21). The firm had revenue of $237.60 million for the quarter, compared to analyst estimates of $227.70 million. Rexford Industrial Realty had a net margin of 30.71% and a return on equity of 3.31%. The business’s revenue was up 21.3% on a year-over-year basis. During the same period in the prior year, the company posted $0.54 earnings per share. On average, analysts predict that Rexford Industrial Realty, Inc. will post 2.35 EPS for the current year.

Rexford Industrial Realty Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th will be issued a $0.4175 dividend. The ex-dividend date is Monday, September 30th. This is a positive change from Rexford Industrial Realty’s previous quarterly dividend of $0.42. This represents a $1.67 annualized dividend and a dividend yield of 3.31%. Rexford Industrial Realty’s payout ratio is 153.21%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on REXR shares. Mizuho lowered their target price on Rexford Industrial Realty from $50.00 to $49.00 and set a “neutral” rating for the company in a research note on Thursday, September 5th. Truist Financial increased their price objective on shares of Rexford Industrial Realty from $50.00 to $54.00 and gave the company a “buy” rating in a research report on Tuesday, July 30th. StockNews.com upgraded Rexford Industrial Realty from a “sell” rating to a “hold” rating in a research note on Monday, July 22nd. Wells Fargo & Company cut their price target on Rexford Industrial Realty from $66.00 to $61.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 28th. Finally, Evercore ISI increased their price target on Rexford Industrial Realty from $57.00 to $58.00 and gave the company an “outperform” rating in a report on Monday, September 16th. One research analyst has rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Rexford Industrial Realty has a consensus rating of “Hold” and an average price target of $52.50.

Insider Activity at Rexford Industrial Realty

In other Rexford Industrial Realty news, CFO Laura E. Clark sold 14,185 shares of the firm’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $50.15, for a total value of $711,377.75. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, CEO Howard Schwimmer sold 30,358 shares of the business’s stock in a transaction on Friday, July 26th. The shares were sold at an average price of $48.86, for a total transaction of $1,483,291.88. Following the completion of the transaction, the chief executive officer now owns 50,673 shares of the company’s stock, valued at $2,475,882.78. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Laura E. Clark sold 14,185 shares of the stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $50.15, for a total transaction of $711,377.75. The disclosure for this sale can be found here. Insiders own 1.20% of the company’s stock.

Rexford Industrial Realty Company Profile

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.