Landscape Capital Management L.L.C. Reduces Position in Rexford Industrial Realty, Inc. (NYSE:REXR)

Landscape Capital Management L.L.C. lessened its stake in shares of Rexford Industrial Realty, Inc. (NYSE:REXR) by 8.5% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 4,632 shares of the real estate investment trust’s stock after selling 431 shares during the quarter. Landscape Capital Management L.L.C.’s holdings in Rexford Industrial Realty were worth $233,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Massmutual Trust Co. FSB ADV lifted its stake in Rexford Industrial Realty by 169.4% in the second 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 period. V Square Quantitative Management LLC purchased a new stake in Rexford Industrial Realty in the second quarter worth $26,000. UMB Bank n.a. lifted its stake in Rexford Industrial Realty by 164.3% in the third 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 during the period. Headlands Technologies LLC purchased a new stake in Rexford Industrial Realty in the second quarter worth $41,000. Finally, EverSource Wealth Advisors LLC lifted 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 worth $47,000 after acquiring an additional 864 shares during the period. Hedge funds and other institutional investors own 99.52% of the company’s stock.

Rexford Industrial Realty Price Performance

Shares of NYSE:REXR opened at $42.88 on Tuesday. Rexford Industrial Realty, Inc. has a 1-year low of $41.16 and a 1-year high of $58.02. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.20 and a quick ratio of 1.20. The business has a fifty day moving average price of $46.16 and a 200-day moving average price of $47.01. The company has a market capitalization of $9.54 billion, a PE ratio of 34.86, a PEG ratio of 1.99 and a beta of 0.94.

Rexford Industrial Realty (NYSE:REXR) last issued its quarterly earnings results on Wednesday, October 16th. The real estate investment trust reported $0.30 earnings per share for the quarter, missing the consensus estimate of $0.58 by ($0.28). Rexford Industrial Realty had a net margin of 30.40% and a return on equity of 3.35%. The company had revenue of $241.84 million for the quarter, compared to the consensus estimate of $235.81 million. During the same quarter in the previous year, the business earned $0.56 earnings per share. Rexford Industrial Realty’s revenue was up 17.7% compared to the same quarter last year. As a group, equities analysts expect that Rexford Industrial Realty, Inc. will post 2.34 EPS for the current fiscal year.

Rexford Industrial Realty Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors 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 3.89%. Rexford Industrial Realty’s dividend payout ratio (DPR) is presently 135.77%.

Insider Activity at Rexford Industrial Realty

In related news, CFO Laura E. Clark sold 14,185 shares of the stock in a transaction on 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 legal filing with the SEC, which can be accessed through the SEC website. 1.20% of the stock is currently owned by insiders.

Analyst Ratings Changes

REXR has been the subject of a number of research analyst reports. Wells Fargo & Company dropped their price target on Rexford Industrial Realty from $66.00 to $61.00 and set an “overweight” rating for the company in a research note on Wednesday, August 28th. Bank of America downgraded Rexford Industrial Realty from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $66.00 to $49.00 in a report on Monday, October 21st. Truist Financial decreased their price objective on Rexford Industrial Realty from $54.00 to $50.00 and set a “buy” rating for the company in a report on Tuesday, November 12th. Scotiabank downgraded Rexford Industrial Realty from a “sector outperform” rating to a “sector perform” rating and decreased their price objective for the stock from $55.00 to $48.00 in a report on Friday, October 25th. Finally, Evercore ISI reiterated an “outperform” rating on shares of Rexford Industrial Realty in a report on Friday, October 18th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $51.09.

Rexford Industrial Realty 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.