Rexford Industrial Realty, Inc. (NYSE:REXR) Shares Sold by Swiss National Bank

Swiss National Bank cut its stake in Rexford Industrial Realty, Inc. (NYSE:REXR) by 0.7% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 425,216 shares of the real estate investment trust’s stock after selling 3,100 shares during the quarter. Swiss National Bank owned approximately 0.19% of Rexford Industrial Realty worth $21,393,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of REXR. Price T Rowe Associates Inc. MD raised its position in shares of Rexford Industrial Realty by 26.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 19,933,431 shares of the real estate investment trust’s stock valued at $1,002,654,000 after buying an additional 4,197,907 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of Rexford Industrial Realty by 6.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,326,694 shares of the real estate investment trust’s stock valued at $148,337,000 after purchasing an additional 200,027 shares during the last quarter. Canada Pension Plan Investment Board increased its position in shares of Rexford Industrial Realty by 41.9% during the 2nd 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 purchasing an additional 938,177 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its position in 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 valued at $129,648,000 after buying an additional 800,137 shares during the last quarter. Finally, Boston Partners boosted its stake in Rexford Industrial Realty by 4.3% during the first quarter. Boston Partners now owns 2,890,685 shares of the real estate investment trust’s stock worth $145,353,000 after buying an additional 118,120 shares during the period. Hedge funds and other institutional investors own 99.52% of the company’s stock.

Insider Transactions at Rexford Industrial Realty

In related news, CFO Laura E. Clark sold 14,185 shares of the business’s stock in a transaction dated Tuesday, September 10th. The shares were 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 link. Corporate insiders own 1.20% of the company’s stock.

Rexford Industrial Realty Trading Down 1.7 %

Shares of Rexford Industrial Realty stock opened at $41.97 on Friday. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 0.40. The firm has a market cap of $9.33 billion, a price-to-earnings ratio of 34.70, a price-to-earnings-growth ratio of 2.04 and a beta of 0.94. Rexford Industrial Realty, Inc. has a 52-week low of $41.16 and a 52-week high of $58.02. The company’s 50-day simple moving average is $46.48 and its 200-day simple moving average is $47.03.

Rexford Industrial Realty (NYSE:REXR) last issued its earnings results on Wednesday, October 16th. The real estate investment trust reported $0.30 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 business had revenue of $241.84 million for the quarter, compared to analysts’ expectations of $235.81 million. During the same period last year, the company posted $0.56 earnings per share. The business’s quarterly revenue was up 17.7% on a year-over-year basis. As a group, equities research analysts anticipate that Rexford Industrial Realty, Inc. will post 2.34 earnings per share for the current year.

Rexford Industrial Realty Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be given a dividend of $0.4175 per share. The ex-dividend date is Tuesday, December 31st. This represents a $1.67 annualized dividend and a dividend yield of 3.98%. Rexford Industrial Realty’s payout ratio is currently 135.77%.

Wall Street Analyst Weigh In

Several brokerages have recently commented on REXR. Wells Fargo & Company decreased their price objective on shares of Rexford Industrial Realty from $66.00 to $61.00 and set an “overweight” rating on the stock in a report on Wednesday, August 28th. Evercore ISI restated an “outperform” rating on shares of Rexford Industrial Realty in a research report on Friday, October 18th. JPMorgan Chase & Co. lifted their price objective 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. Scotiabank cut shares of Rexford Industrial Realty from a “sector outperform” rating to a “sector perform” rating and lowered their price target for the stock from $55.00 to $48.00 in a report on Friday, October 25th. Finally, Truist Financial reduced their price objective on shares of Rexford Industrial Realty from $54.00 to $50.00 and set a “buy” rating on the stock in a report on Tuesday, November 12th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, Rexford Industrial Realty has a consensus rating of “Hold” and an average target price of $51.09.

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.