Los Angeles Capital Management LLC Sells 260 Shares of Rexford Industrial Realty, Inc. (NYSE:REXR)

Los Angeles Capital Management LLC reduced its position in Rexford Industrial Realty, Inc. (NYSE:REXR) by 2.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,905 shares of the real estate investment trust’s stock after selling 260 shares during the quarter. Los Angeles Capital Management LLC’s holdings in Rexford Industrial Realty were worth $397,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Securian Asset Management Inc. lifted its stake in shares of Rexford Industrial Realty by 1.9% during the 4th quarter. Securian Asset Management Inc. now owns 17,815 shares of the real estate investment trust’s stock worth $999,000 after acquiring an additional 330 shares during the last quarter. Inspire Investing LLC lifted its position in shares of Rexford Industrial Realty by 4.9% during the first quarter. Inspire Investing LLC now owns 7,126 shares of the real estate investment trust’s stock worth $358,000 after purchasing an additional 331 shares during the last quarter. Hennion & Walsh Asset Management Inc. boosted its stake in shares of Rexford Industrial Realty by 2.4% during the second quarter. Hennion & Walsh Asset Management Inc. now owns 14,641 shares of the real estate investment trust’s stock valued at $653,000 after purchasing an additional 337 shares during the period. Victory Capital Management Inc. grew its holdings in shares of Rexford Industrial Realty by 0.8% in the second quarter. Victory Capital Management Inc. now owns 46,066 shares of the real estate investment trust’s stock worth $2,054,000 after purchasing an additional 345 shares during the last quarter. Finally, Massmutual Trust Co. FSB ADV increased its stake in Rexford Industrial Realty by 169.4% in 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. Institutional investors own 99.52% of the company’s stock.

Rexford Industrial Realty Price Performance

NYSE REXR opened at $50.59 on Friday. The firm’s fifty day simple moving average is $49.72 and its two-hundred day simple moving average is $47.69. The firm has a market capitalization of $11.11 billion, a P/E ratio of 46.41, a P/E/G ratio of 2.06 and a beta of 0.93. 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, Inc. has a 12-month low of $41.56 and a 12-month high of $58.02.

Rexford Industrial Realty (NYSE:REXR) last issued its quarterly earnings results on Wednesday, July 17th. The real estate investment trust reported $0.37 earnings per share for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.21). The business had revenue of $237.60 million for the quarter, compared to analysts’ expectations of $227.70 million. Rexford Industrial Realty had a return on equity of 3.31% and a net margin of 30.71%. Rexford Industrial Realty’s revenue was up 21.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.54 EPS. Analysts forecast that Rexford Industrial Realty, Inc. will post 2.35 EPS for the current fiscal 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 issued a dividend of $0.4175 per share. 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 dividend on an annualized basis and a dividend yield of 3.30%. Rexford Industrial Realty’s payout ratio is 153.21%.

Wall Street Analyst Weigh In

Several research firms have issued reports on REXR. JPMorgan Chase & Co. boosted their price objective on shares of Rexford Industrial Realty from $47.00 to $52.00 and gave the company a “neutral” rating in a research report on Thursday, July 25th. Truist Financial increased their price objective on Rexford Industrial Realty from $50.00 to $54.00 and gave the stock a “buy” rating in a research note on Tuesday, July 30th. Scotiabank lifted their target price on Rexford Industrial Realty from $51.00 to $55.00 and gave the company a “sector outperform” rating in a research report on Monday, August 26th. Evercore ISI upped their target price on Rexford Industrial Realty from $55.00 to $57.00 and gave the stock an “outperform” rating in a report on Wednesday, August 28th. Finally, 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. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $54.00.

Insider Activity at Rexford Industrial Realty

In other Rexford Industrial Realty news, CFO Laura E. Clark sold 14,185 shares of the business’s 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 transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, CFO Laura E. Clark sold 14,185 shares of the firm’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $50.15, for a total transaction of $711,377.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 transaction, the chief executive officer now owns 50,673 shares of the company’s stock, valued at $2,475,882.78. The disclosure for this sale can be found here. 1.20% of the stock is owned by insiders.

About Rexford Industrial Realty

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.