Prospera Financial Services Inc Sells 303 Shares of Rexford Industrial Realty, Inc. (NYSE:REXR)

Prospera Financial Services Inc decreased its holdings in shares of Rexford Industrial Realty, Inc. (NYSE:REXR) by 4.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,854 shares of the real estate investment trust’s stock after selling 303 shares during the period. Prospera Financial Services Inc’s holdings in Rexford Industrial Realty were worth $345,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Massmutual Trust Co. FSB ADV lifted its position in shares of Rexford Industrial Realty by 169.4% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 555 shares of the real estate investment trust’s stock worth $25,000 after buying an additional 349 shares during the period. V Square Quantitative Management LLC bought a new position in shares of Rexford Industrial Realty during the second quarter valued at $26,000. UMB Bank n.a. boosted its stake in shares of Rexford Industrial Realty by 164.3% in the 3rd 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 in the last quarter. Headlands Technologies LLC bought a new stake in shares of Rexford Industrial Realty in the 2nd quarter worth about $41,000. Finally, EverSource Wealth Advisors LLC increased its position in shares of Rexford Industrial Realty by 1,252.2% during the 1st 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. 99.52% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have commented on REXR shares. StockNews.com lowered shares of Rexford Industrial Realty from a “hold” rating to a “sell” rating in a research report on Monday, October 21st. Industrial Alliance Securities set a $55.00 price target on Rexford Industrial Realty in a research report on Friday, October 18th. Evercore ISI reaffirmed an “outperform” rating on shares of Rexford Industrial Realty in a report on Friday, October 18th. Mizuho reduced their price objective on 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. Finally, Wells Fargo & Company lowered their target price on Rexford Industrial Realty from $66.00 to $61.00 and set an “overweight” rating for the company in a research note on Wednesday, August 28th. Two equities 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 company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $51.09.

Rexford Industrial Realty Price Performance

Shares of REXR stock opened at $42.08 on Monday. The firm has a market cap of $9.36 billion, a price-to-earnings ratio of 34.21, a PEG ratio of 1.99 and a beta of 0.94. Rexford Industrial Realty, Inc. has a 12 month low of $41.16 and a 12 month 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 stock has a 50-day moving average price of $46.16 and a 200 day moving average price of $47.00.

Rexford Industrial Realty (NYSE:REXR) last issued 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 for the quarter, compared to analyst estimates of $235.81 million. During the same quarter in the prior year, the firm earned $0.56 EPS. The firm’s quarterly revenue was up 17.7% compared to the same quarter last year. Research analysts expect that Rexford Industrial Realty, Inc. will post 2.34 EPS for the current year.

Rexford Industrial Realty Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be given a dividend of $0.4175 per share. This represents a $1.67 annualized dividend and a dividend yield of 3.97%. The ex-dividend date is Tuesday, December 31st. Rexford Industrial Realty’s payout ratio is 135.77%.

Insider Activity

In other news, CFO Laura E. Clark sold 14,185 shares of the company’s stock in a transaction dated Tuesday, September 10th. The stock was 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 Securities & Exchange Commission, which can be accessed through the SEC website. 1.20% of the stock is currently owned by company insiders.

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.