Sumitomo Mitsui Trust Holdings Inc. Sells 374,717 Shares of Rexford Industrial Realty, Inc. (NYSE:REXR)

Sumitomo Mitsui Trust Holdings Inc. cut its position in shares of Rexford Industrial Realty, Inc. (NYSE:REXR) by 24.8% during the 4th quarter, HoldingsChannel reports. The firm owned 1,138,625 shares of the real estate investment trust’s stock after selling 374,717 shares during the period. Sumitomo Mitsui Trust Holdings Inc.’s holdings in Rexford Industrial Realty were worth $63,877,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Quarry LP bought a new stake in Rexford Industrial Realty in the second quarter worth $28,000. Fifth Third Bancorp boosted its holdings in Rexford Industrial Realty by 58.2% in the third quarter. Fifth Third Bancorp now owns 1,117 shares of the real estate investment trust’s stock worth $55,000 after acquiring an additional 411 shares in the last quarter. Belpointe Asset Management LLC boosted its holdings in Rexford Industrial Realty by 112.7% in the first quarter. Belpointe Asset Management LLC now owns 1,176 shares of the real estate investment trust’s stock worth $70,000 after acquiring an additional 623 shares in the last quarter. First Manhattan Co. bought a new stake in Rexford Industrial Realty in the first quarter worth $151,000. Finally, Ossiam boosted its holdings in Rexford Industrial Realty by 21.3% in the first quarter. Ossiam now owns 2,096 shares of the real estate investment trust’s stock worth $125,000 after acquiring an additional 368 shares in the last quarter. 99.52% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Rexford Industrial Realty

In other Rexford Industrial Realty news, General Counsel David E. Lanzer sold 18,113 shares of the business’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $52.69, for a total transaction of $954,373.97. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.10% of the stock is currently owned by corporate insiders.

Rexford Industrial Realty Stock Up 2.2 %

Rexford Industrial Realty stock opened at $43.19 on Friday. The stock has a market cap of $9.41 billion, a PE ratio of 39.62, a price-to-earnings-growth ratio of 1.85 and a beta of 0.86. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.35 and a current ratio of 1.35. Rexford Industrial Realty, Inc. has a one year low of $41.56 and a one year high of $58.02. The stock has a fifty day moving average of $50.62 and a 200 day moving average of $50.68.

Rexford Industrial Realty (NYSE:REXR) last posted its quarterly earnings data on Wednesday, April 17th. The real estate investment trust reported $0.27 EPS for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.30). The firm had revenue of $214.10 million for the quarter, compared to analysts’ expectations of $207.39 million. Rexford Industrial Realty had a net margin of 28.84% and a return on equity of 3.10%. The firm’s revenue was up 15.0% compared to the same quarter last year. During the same quarter last year, the company posted $0.52 EPS. As a group, sell-side analysts predict that Rexford Industrial Realty, Inc. will post 2.35 EPS for the current year.

Rexford Industrial Realty Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Thursday, March 28th were issued a dividend of $0.4175 per share. This represents a $1.67 annualized dividend and a yield of 3.87%. The ex-dividend date was Wednesday, March 27th. This is a positive change from Rexford Industrial Realty’s previous quarterly dividend of $0.38. Rexford Industrial Realty’s payout ratio is currently 153.21%.

Analysts Set New Price Targets

REXR has been the topic of several analyst reports. Robert W. Baird reissued a “neutral” rating and issued a $61.00 target price (up from $53.00) on shares of Rexford Industrial Realty in a report on Friday, January 5th. JPMorgan Chase & Co. cut Rexford Industrial Realty from an “overweight” rating to a “neutral” rating and set a $55.00 price target for the company. in a research note on Wednesday, February 7th. Barclays assumed coverage on Rexford Industrial Realty in a research note on Wednesday, March 27th. They issued an “underweight” rating and a $45.00 price target for the company. Mizuho restated a “neutral” rating and issued a $52.00 price target on shares of Rexford Industrial Realty in a research note on Tuesday, April 2nd. Finally, TheStreet upgraded Rexford Industrial Realty from a “c+” rating to a “b-” rating in a research note on Thursday, February 1st. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $55.60.

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.