First Financial Bank Trust Division Sells 596 Shares of Rexford Industrial Realty, Inc. (NYSE:REXR)

First Financial Bank Trust Division reduced its position in Rexford Industrial Realty, Inc. (NYSE:REXR) by 1.1% during the third quarter, HoldingsChannel reports. The firm owned 53,063 shares of the real estate investment trust’s stock after selling 596 shares during the period. First Financial Bank Trust Division’s holdings in Rexford Industrial Realty were worth $2,670,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Massmutual Trust Co. FSB ADV boosted its position in Rexford Industrial Realty by 169.4% during the second quarter. Massmutual Trust Co. FSB ADV now owns 555 shares of the real estate investment trust’s stock valued at $25,000 after acquiring an additional 349 shares during the last quarter. V Square Quantitative Management LLC bought a new stake in shares of Rexford Industrial Realty during the 2nd quarter valued at about $26,000. Headlands Technologies LLC acquired a new stake in Rexford Industrial Realty during the second quarter worth approximately $41,000. EverSource Wealth Advisors LLC increased its holdings in Rexford Industrial Realty by 1,252.2% in the first 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. Finally, Advisors Asset Management Inc. lifted its stake in Rexford Industrial Realty by 136.6% in the first quarter. Advisors Asset Management Inc. now owns 1,086 shares of the real estate investment trust’s stock valued at $55,000 after buying an additional 627 shares during the period. 99.52% of the stock is currently owned by institutional investors and hedge funds.

Rexford Industrial Realty Stock Performance

Shares of REXR opened at $48.93 on Thursday. The firm has a market capitalization of $10.74 billion, a P/E ratio of 44.89, a P/E/G ratio of 2.07 and a beta of 0.93. Rexford Industrial Realty, Inc. has a 52 week low of $41.56 and a 52 week high of $58.02. The stock has a 50 day moving average price of $50.33 and a two-hundred day moving average price of $47.56. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.73 and a current ratio of 1.73.

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 the consensus estimate of $0.58 by ($0.21). Rexford Industrial Realty had a return on equity of 3.31% and a net margin of 30.71%. The company had revenue of $237.60 million for the quarter, compared to the consensus estimate of $227.70 million. During the same quarter last year, the company posted $0.54 EPS. The company’s quarterly revenue was up 21.3% compared to the same quarter last year. Equities analysts forecast that Rexford Industrial Realty, Inc. will post 2.35 earnings per share for the current fiscal year.

Rexford Industrial Realty Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th will be given a $0.4175 dividend. This represents a $1.67 dividend on an annualized basis and a yield of 3.41%. This is an increase from Rexford Industrial Realty’s previous quarterly dividend of $0.42. The ex-dividend date of this dividend is Monday, September 30th. Rexford Industrial Realty’s dividend payout ratio is presently 153.21%.

Insider Buying and Selling at Rexford Industrial Realty

In other news, CEO Howard Schwimmer sold 30,358 shares of the business’s stock in a transaction that occurred 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 transaction, the chief executive officer now owns 50,673 shares in the company, valued at approximately $2,475,882.78. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 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 transaction of $1,483,291.88. Following the completion of the sale, the chief executive officer now directly owns 50,673 shares of the company’s stock, valued at approximately $2,475,882.78. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, 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 disclosure for this sale can be found here. Company insiders own 1.20% of the company’s stock.

Analyst Ratings Changes

REXR has been the subject of several recent analyst reports. Scotiabank raised their price objective on shares of Rexford Industrial Realty from $51.00 to $55.00 and gave the stock a “sector outperform” rating in a research report on Monday, August 26th. StockNews.com upgraded shares of Rexford Industrial Realty from a “sell” rating to a “hold” rating in a report on Monday, July 22nd. Mizuho dropped their price objective 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. JPMorgan Chase & Co. raised their target price on Rexford Industrial Realty from $47.00 to $52.00 and gave the company a “neutral” rating in a research note on Thursday, July 25th. Finally, Truist Financial upped their price target 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. One investment analyst has rated the stock with a sell rating, five have given a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, Rexford Industrial Realty currently has a consensus rating of “Hold” and a consensus target price 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.