Raymond James & Associates Reduces Holdings in Rexford Industrial Realty, Inc. (NYSE:REXR)

Raymond James & Associates lowered its position in Rexford Industrial Realty, Inc. (NYSE:REXR) by 0.6% in the 3rd quarter, HoldingsChannel reports. The fund owned 359,646 shares of the real estate investment trust’s stock after selling 2,026 shares during the period. Raymond James & Associates’ holdings in Rexford Industrial Realty were worth $18,094,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in REXR. M&G Plc bought a new stake in shares of Rexford Industrial Realty in the first quarter valued at approximately $33,644,000. Magnetar Financial LLC bought a new position in shares of Rexford Industrial Realty in the first quarter worth $1,671,000. Vanguard Group Inc. grew 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 valued at $1,495,668,000 after purchasing an additional 753,098 shares in the last quarter. DekaBank Deutsche Girozentrale raised its stake in shares of Rexford Industrial Realty by 23.8% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 62,445 shares of the real estate investment trust’s stock valued at $3,089,000 after purchasing an additional 12,006 shares during the period. Finally, Russell Investments Group Ltd. lifted its holdings in Rexford Industrial Realty by 32.8% during the 1st quarter. Russell Investments Group Ltd. now owns 159,845 shares of the real estate investment trust’s stock worth $8,040,000 after purchasing an additional 39,524 shares in the last quarter. 99.52% of the stock is currently owned by institutional investors.

Rexford Industrial Realty Trading Down 2.8 %

REXR stock opened at $43.35 on Friday. Rexford Industrial Realty, Inc. has a one year low of $41.56 and a one year high of $58.02. The company has a market capitalization of $9.44 billion, a PE ratio of 39.77, a price-to-earnings-growth ratio of 2.13 and a beta of 0.93. The company’s 50 day moving average price is $49.36 and its two-hundred day moving average price is $47.20. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.73 and a current ratio of 1.20.

Rexford Industrial Realty (NYSE:REXR) last issued its earnings results on Wednesday, October 16th. The real estate investment trust reported $0.30 EPS for the quarter, missing analysts’ consensus estimates 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 analysts’ expectations of $235.81 million. During the same quarter in the previous year, the business earned $0.56 EPS. Rexford Industrial Realty’s revenue for the quarter was up 17.7% compared to the same quarter last year. As a group, 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 business also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be issued a dividend of $0.4175 per share. This represents a $1.67 annualized dividend and a yield of 3.85%. The ex-dividend date of this dividend is Tuesday, December 31st. Rexford Industrial Realty’s dividend payout ratio is presently 153.21%.

Analyst Ratings Changes

Several brokerages have recently weighed in on REXR. JPMorgan Chase & Co. upped their price target on Rexford Industrial Realty from $47.00 to $52.00 and gave the company a “neutral” rating in a research report on Thursday, July 25th. Mizuho lowered 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 research note on Thursday, September 5th. Scotiabank lowered shares of Rexford Industrial Realty from a “sector outperform” rating to a “sector perform” rating and reduced their price target for the company from $55.00 to $48.00 in a research report on Friday. Bank of America downgraded Rexford Industrial Realty from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $66.00 to $49.00 in a research report on Monday, October 21st. Finally, Wells Fargo & Company decreased their target price 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. Two research 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 data from MarketBeat, Rexford Industrial Realty currently has an average rating of “Hold” and an average price target of $51.45.

Insider Buying and Selling

In other news, CFO Laura E. Clark sold 14,185 shares of the 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 1.20% of the stock is owned by corporate insiders.

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.