Jane Street Group LLC Cuts Stake in Rexford Industrial Realty, Inc. (NYSE:REXR)

Jane Street Group LLC reduced its holdings in shares of Rexford Industrial Realty, Inc. (NYSE:REXR) by 56.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 85,273 shares of the real estate investment trust’s stock after selling 109,282 shares during the period. Jane Street Group LLC’s holdings in Rexford Industrial Realty were worth $4,290,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Rexford Industrial Realty by 338.0% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,930,706 shares of the real estate investment trust’s stock worth $97,134,000 after purchasing an additional 1,489,876 shares during the period. Canada Pension Plan Investment Board increased its holdings in shares of Rexford Industrial Realty by 41.9% in the second quarter. Canada Pension Plan Investment Board now owns 3,175,465 shares of the real estate investment trust’s stock worth $141,594,000 after buying an additional 938,177 shares during the period. Massachusetts Financial Services Co. MA increased its holdings in shares of Rexford Industrial Realty by 38.0% in the second quarter. Massachusetts Financial Services Co. MA now owns 2,907,560 shares of the real estate investment trust’s stock worth $129,648,000 after buying an additional 800,137 shares during the period. Daiwa Securities Group Inc. lifted its stake in shares of Rexford Industrial Realty by 52.5% in the 2nd quarter. Daiwa Securities Group Inc. now owns 1,210,795 shares of the real estate investment trust’s stock valued at $53,990,000 after acquiring an additional 417,037 shares during the last quarter. Finally, Raymond James & Associates boosted its holdings in Rexford Industrial Realty by 264.5% during the 2nd quarter. Raymond James & Associates now owns 361,672 shares of the real estate investment trust’s stock valued at $16,127,000 after acquiring an additional 262,435 shares during the period. 99.52% of the stock is owned by hedge funds and other institutional investors.

Rexford Industrial Realty Stock Performance

Rexford Industrial Realty stock opened at $39.94 on Wednesday. Rexford Industrial Realty, Inc. has a fifty-two week low of $39.85 and a fifty-two week high of $57.01. The stock’s 50 day simple moving average is $43.29 and its two-hundred day simple moving average is $46.61. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.20 and a current ratio of 1.20. The stock has a market cap of $8.88 billion, a price-to-earnings ratio of 32.89, a PEG ratio of 1.94 and a beta of 0.93.

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

Rexford Industrial Realty Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be paid a $0.4175 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $1.67 annualized dividend and a dividend yield of 4.18%. Rexford Industrial Realty’s payout ratio is 135.77%.

Analyst Ratings Changes

Several analysts have weighed in on the company. Scotiabank downgraded Rexford Industrial Realty from a “sector outperform” rating to a “sector perform” rating and lowered their price objective for the company from $55.00 to $48.00 in a research report on Friday, October 25th. Bank of America lowered shares of Rexford Industrial Realty from a “buy” rating to a “neutral” rating and lowered their price target for the company from $66.00 to $49.00 in a report on Monday, October 21st. Mizuho cut their price target on shares of Rexford Industrial Realty from $50.00 to $49.00 and set a “neutral” rating on the stock in a report on Thursday, September 5th. Truist Financial lowered their price objective on shares of Rexford Industrial Realty from $54.00 to $50.00 and set a “buy” rating for the company in a research note on Tuesday, November 12th. Finally, Wells Fargo & Company cut 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 investment analysts have rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $51.09.

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.