Hsbc Holdings PLC Sells 231,308 Shares of Rexford Industrial Realty, Inc. (NYSE:REXR)

Hsbc Holdings PLC reduced its holdings in shares of Rexford Industrial Realty, Inc. (NYSE:REXR) by 40.9% in the second quarter, Holdings Channel.com reports. The fund owned 333,918 shares of the real estate investment trust’s stock after selling 231,308 shares during the quarter. Hsbc Holdings PLC’s holdings in Rexford Industrial Realty were worth $14,862,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Massmutual Trust Co. FSB ADV lifted its stake 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 acquiring an additional 349 shares during the last quarter. V Square Quantitative Management LLC purchased a new position in Rexford Industrial Realty during the 2nd quarter worth $26,000. Headlands Technologies LLC purchased a new position in Rexford Industrial Realty during the 2nd quarter worth $41,000. EverSource Wealth Advisors LLC increased its holdings in 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 during the period. Finally, Advisors Asset Management Inc. increased its holdings in Rexford Industrial Realty by 136.6% during the 1st quarter. Advisors Asset Management Inc. now owns 1,086 shares of the real estate investment trust’s stock worth $55,000 after purchasing an additional 627 shares during the period. 99.52% of the stock is owned by institutional investors.

Insider Transactions at Rexford Industrial Realty

In other news, CEO Howard Schwimmer sold 30,358 shares of the firm’s stock in a transaction on Friday, July 26th. The stock was sold at an average price of $48.86, for a total value of $1,483,291.88. Following the completion of the sale, the chief executive officer now owns 50,673 shares of the company’s stock, valued at approximately $2,475,882.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Howard Schwimmer sold 30,358 shares of the firm’s stock in a transaction on Friday, July 26th. The stock was sold at an average price of $48.86, for a total value of $1,483,291.88. Following the completion of the sale, the chief executive officer now owns 50,673 shares of the company’s stock, valued at approximately $2,475,882.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Laura E. Clark sold 14,185 shares of the firm’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $50.15, for a total value of $711,377.75. The disclosure for this sale can be found here. Insiders own 1.20% of the company’s stock.

Rexford Industrial Realty Trading Down 2.0 %

Shares of NYSE:REXR opened at $51.13 on Monday. Rexford Industrial Realty, Inc. has a 12-month low of $41.56 and a 12-month high of $58.02. The business’s fifty day simple moving average is $50.14 and its 200-day simple moving average is $47.64. The company has a market capitalization of $11.14 billion, a PE ratio of 46.91, a P/E/G ratio of 2.10 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 (NYSE:REXR) last announced its quarterly earnings results on Wednesday, July 17th. The real estate investment trust reported $0.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.21). The company had revenue of $237.60 million during the quarter, compared to analysts’ expectations of $227.70 million. Rexford Industrial Realty had a net margin of 30.71% and a return on equity of 3.31%. The company’s revenue was up 21.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.54 earnings per share. As a group, equities research analysts predict that Rexford Industrial Realty, Inc. will post 2.35 earnings per share for the current fiscal year.

Rexford Industrial Realty Increases Dividend

The firm 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. This is a boost from Rexford Industrial Realty’s previous quarterly dividend of $0.42. The ex-dividend date is Monday, September 30th. This represents a $1.67 dividend on an annualized basis and a dividend yield of 3.27%. Rexford Industrial Realty’s dividend payout ratio (DPR) is presently 153.21%.

Analysts Set New Price Targets

Several research firms have commented on REXR. Scotiabank raised their price objective on Rexford Industrial Realty from $51.00 to $55.00 and gave the stock a “sector outperform” rating in a report on Monday, August 26th. Evercore ISI raised their price objective on 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. raised their price objective on Rexford Industrial Realty from $47.00 to $52.00 and gave the stock a “neutral” rating in a report on Thursday, July 25th. Wells Fargo & Company reduced their price objective on Rexford Industrial Realty from $66.00 to $61.00 and set an “overweight” rating on the stock in a report on Wednesday, August 28th. Finally, 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 report on Thursday, September 5th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $52.50.

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.