Mutual of America Capital Management LLC Lowers Stake in Rexford Industrial Realty, Inc. (NYSE:REXR)

Mutual of America Capital Management LLC lessened its stake in shares of Rexford Industrial Realty, Inc. (NYSE:REXR) by 4.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 118,391 shares of the real estate investment trust’s stock after selling 6,067 shares during the quarter. Mutual of America Capital Management LLC owned approximately 0.05% of Rexford Industrial Realty worth $5,956,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in REXR. 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 purchasing an additional 349 shares in the last quarter. V Square Quantitative Management LLC bought a new stake in shares of Rexford Industrial Realty in the 2nd quarter valued at about $26,000. UMB Bank n.a. raised its stake in shares of Rexford Industrial Realty by 164.3% during the 3rd quarter. UMB Bank n.a. now owns 719 shares of the real estate investment trust’s stock worth $36,000 after acquiring an additional 447 shares in the last quarter. Headlands Technologies LLC purchased a new stake in Rexford Industrial Realty during the second quarter valued at approximately $41,000. Finally, EverSource Wealth Advisors LLC boosted its stake 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 valued at $47,000 after acquiring an additional 864 shares in the last quarter. 99.52% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on REXR. Industrial Alliance Securities set a $55.00 price target on Rexford Industrial Realty in a research report on Friday, October 18th. Truist Financial decreased their price target on 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. StockNews.com lowered Rexford Industrial Realty from a “hold” rating to a “sell” rating in a research note on Monday, October 21st. Scotiabank lowered shares of Rexford Industrial Realty from a “sector outperform” rating to a “sector perform” rating and decreased their price objective for the company from $55.00 to $48.00 in a research report on Friday, October 25th. Finally, Mizuho dropped their target price on shares of Rexford Industrial Realty from $50.00 to $49.00 and set a “neutral” rating on the stock in a research report on Thursday, September 5th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $51.09.

Insider Activity at Rexford Industrial Realty

In related 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.20% of the stock is owned by company insiders.

Rexford Industrial Realty Price Performance

Shares of REXR opened at $42.95 on Wednesday. The business’s 50-day moving average is $46.78 and its two-hundred day moving average is $47.08. The company has a market capitalization of $9.55 billion, a P/E ratio of 34.92, a P/E/G ratio of 2.01 and a beta of 0.94. Rexford Industrial Realty, Inc. has a fifty-two week low of $41.16 and a fifty-two week high of $58.02. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.20 and a current ratio of 1.20.

Rexford Industrial Realty (NYSE:REXR) last posted its 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 company had revenue of $241.84 million for the quarter, compared to analyst estimates of $235.81 million. During the same period last year, the business earned $0.56 earnings per share. The firm’s revenue was up 17.7% on a year-over-year basis. Research analysts predict that Rexford Industrial Realty, Inc. will post 2.34 earnings per share for the current year.

Rexford Industrial Realty Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be issued a dividend of $0.4175 per share. This represents a $1.67 dividend on an annualized basis and a yield of 3.89%. The ex-dividend date is Tuesday, December 31st. Rexford Industrial Realty’s dividend payout ratio (DPR) is presently 135.77%.

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.