Algert Global LLC Sells 5,250 Shares of Rexford Industrial Realty, Inc. (NYSE:REXR)

Algert Global LLC trimmed its position in Rexford Industrial Realty, Inc. (NYSE:REXR) by 20.5% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 20,420 shares of the real estate investment trust’s stock after selling 5,250 shares during the period. Algert Global LLC’s holdings in Rexford Industrial Realty were worth $1,027,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the company. Massmutual Trust Co. FSB ADV increased its position in shares of 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 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 second quarter worth approximately $26,000. UMB Bank n.a. boosted its holdings in shares of Rexford Industrial Realty by 164.3% during 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 bought a new stake in shares of Rexford Industrial Realty during the second quarter worth approximately $41,000. Finally, EverSource Wealth Advisors LLC boosted its holdings in shares of Rexford Industrial Realty by 1,252.2% during 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. 99.52% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on REXR shares. Wells Fargo & Company reduced their price objective on Rexford Industrial Realty from $66.00 to $61.00 and set an “overweight” rating for the company in a report on Wednesday, August 28th. Scotiabank cut Rexford Industrial Realty from a “sector outperform” rating to a “sector perform” rating and reduced their price objective for the stock from $55.00 to $48.00 in a report on Friday, October 25th. Bank of America cut Rexford Industrial Realty from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $66.00 to $49.00 in a report on Monday, October 21st. Truist Financial cut 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. Finally, StockNews.com cut Rexford Industrial Realty from a “hold” rating to a “sell” rating in a research note on Monday, October 21st. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $51.09.

Rexford Industrial Realty Stock Up 0.5 %

NYSE REXR opened at $42.55 on Friday. The business has a fifty day moving average price of $45.45 and a two-hundred day moving average price of $46.91. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.20 and a quick ratio of 1.20. Rexford Industrial Realty, Inc. has a fifty-two week low of $41.16 and a fifty-two week high of $58.02. The stock has a market capitalization of $9.46 billion, a PE ratio of 34.59, a PEG ratio of 2.03 and a beta of 0.94.

Rexford Industrial Realty (NYSE:REXR) last released its 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 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 the consensus estimate of $235.81 million. During the same quarter in the previous year, the company earned $0.56 earnings per share. The firm’s revenue for the quarter was up 17.7% on a year-over-year basis. Equities analysts expect that Rexford Industrial Realty, Inc. will post 2.34 earnings per share for the current fiscal year.

Rexford Industrial Realty Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be issued a dividend of $0.4175 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $1.67 annualized dividend and a dividend yield of 3.92%. Rexford Industrial Realty’s dividend payout ratio (DPR) is presently 135.77%.

Insider Transactions at Rexford Industrial Realty

In other news, CFO Laura E. Clark sold 14,185 shares of the company’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $50.15, for a total transaction of $711,377.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 1.20% of the company’s stock.

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.