Algert Global LLC Has $1.15 Million Holdings in Rexford Industrial Realty, Inc. (NYSE:REXR)

Algert Global LLC lessened its stake in Rexford Industrial Realty, Inc. (NYSE:REXR) by 83.3% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 25,670 shares of the real estate investment trust’s stock after selling 128,204 shares during the quarter. Algert Global LLC’s holdings in Rexford Industrial Realty were worth $1,145,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in REXR. Tower Research Capital LLC TRC boosted its holdings in shares of Rexford Industrial Realty by 116.1% in the fourth quarter. Tower Research Capital LLC TRC now owns 46,150 shares of the real estate investment trust’s stock valued at $2,589,000 after buying an additional 24,793 shares during the period. Cibc World Markets Corp acquired a new position in Rexford Industrial Realty during the fourth quarter worth $3,927,000. Westwood Holdings Group Inc. boosted its holdings in Rexford Industrial Realty by 3.9% during the fourth quarter. Westwood Holdings Group Inc. now owns 260,500 shares of the real estate investment trust’s stock worth $14,614,000 after purchasing an additional 9,849 shares during the last quarter. Quadrature Capital Ltd acquired a new position in Rexford Industrial Realty during the fourth quarter worth $1,312,000. Finally, Ossiam boosted its holdings in Rexford Industrial Realty by 11.0% during the fourth quarter. Ossiam now owns 25,599 shares of the real estate investment trust’s stock worth $1,436,000 after purchasing an additional 2,542 shares during the last quarter. Institutional investors and hedge funds own 99.52% of the company’s stock.

Rexford Industrial Realty Stock Performance

NYSE REXR opened at $48.41 on Friday. The firm has a market capitalization of $10.63 billion, a P/E ratio of 44.41, a price-to-earnings-growth ratio of 2.07 and a beta of 0.93. The firm’s fifty day moving average price is $50.34 and its two-hundred day moving average price is $47.56. Rexford Industrial Realty, Inc. has a 1 year low of $41.56 and a 1 year high of $58.02. The company has a current ratio of 1.73, a quick ratio of 1.73 and a debt-to-equity ratio of 0.41.

Rexford Industrial Realty (NYSE:REXR) last issued its quarterly earnings data on Wednesday, July 17th. The real estate investment trust reported $0.37 earnings per share for the quarter, missing the consensus estimate of $0.58 by ($0.21). The company had revenue of $237.60 million during the quarter, compared to the consensus estimate of $227.70 million. Rexford Industrial Realty had a net margin of 30.71% and a return on equity of 3.31%. Rexford Industrial Realty’s revenue for the quarter was up 21.3% compared to the same quarter last year. During the same period in the previous year, the company earned $0.54 earnings per share. As a group, research analysts anticipate that Rexford Industrial Realty, Inc. will post 2.35 EPS for the current year.

Rexford Industrial Realty Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th will be given 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 3.45%. Rexford Industrial Realty’s dividend payout ratio is presently 153.21%.

Insider Activity

In other news, CEO Howard Schwimmer sold 30,358 shares of the stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $48.86, for a total value of $1,483,291.88. Following the transaction, the chief executive officer now directly owns 50,673 shares of the company’s stock, valued at $2,475,882.78. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, CFO Laura E. Clark sold 14,185 shares of the company’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 transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Howard Schwimmer sold 30,358 shares of the company’s stock in a transaction dated 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 in the company, valued at $2,475,882.78. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.20% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. Evercore ISI increased their target price on shares of Rexford Industrial Realty from $57.00 to $58.00 and gave the stock an “outperform” rating in a report on Monday, September 16th. JPMorgan Chase & Co. increased their target price on shares of Rexford Industrial Realty from $47.00 to $52.00 and gave the stock a “neutral” rating in a report on Thursday, July 25th. Truist Financial increased their target price on shares of Rexford Industrial Realty from $50.00 to $54.00 and gave the stock a “buy” rating in a report on Tuesday, July 30th. Scotiabank increased their target price on shares of Rexford Industrial Realty from $51.00 to $55.00 and gave the stock a “sector outperform” rating in a report on Monday, August 26th. Finally, Wells Fargo & Company dropped their price target on shares of Rexford Industrial Realty from $66.00 to $61.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 28th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, Rexford Industrial Realty has an average rating of “Hold” and a consensus target price of $52.50.

Rexford Industrial Realty 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.