Federated Hermes Inc. Sells 2,011 Shares of Rexford Industrial Realty, Inc. (NYSE:REXR)

Federated Hermes Inc. trimmed its position in shares of Rexford Industrial Realty, Inc. (NYSE:REXR) by 7.3% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 25,700 shares of the real estate investment trust’s stock after selling 2,011 shares during the quarter. Federated Hermes Inc.’s holdings in Rexford Industrial Realty were worth $1,442,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in REXR. Xponance Inc. boosted its position in shares of Rexford Industrial Realty by 1.5% during the third quarter. Xponance Inc. now owns 24,917 shares of the real estate investment trust’s stock valued at $1,230,000 after purchasing an additional 359 shares in the last quarter. Arizona State Retirement System lifted its position in Rexford Industrial Realty by 0.7% during the fourth quarter. Arizona State Retirement System now owns 57,624 shares of the real estate investment trust’s stock valued at $3,233,000 after buying an additional 407 shares during the period. Bank Pictet & Cie Europe AG boosted its holdings in shares of Rexford Industrial Realty by 1.4% during the 3rd quarter. Bank Pictet & Cie Europe AG now owns 30,244 shares of the real estate investment trust’s stock valued at $1,493,000 after buying an additional 408 shares in the last quarter. Fifth Third Bancorp grew its position in shares of Rexford Industrial Realty by 58.2% in the 3rd quarter. Fifth Third Bancorp now owns 1,117 shares of the real estate investment trust’s stock worth $55,000 after buying an additional 411 shares during the period. Finally, Toronto Dominion Bank grew its position in shares of Rexford Industrial Realty by 2.0% in the 3rd quarter. Toronto Dominion Bank now owns 23,203 shares of the real estate investment trust’s stock worth $1,145,000 after buying an additional 465 shares during the period. Hedge funds and other institutional investors own 99.52% of the company’s stock.

Rexford Industrial Realty Stock Up 0.5 %

REXR stock opened at $43.40 on Tuesday. The stock has a market capitalization of $9.45 billion, a P/E ratio of 39.82, a P/E/G ratio of 1.90 and a beta of 0.86. The company has a debt-to-equity ratio of 0.41, a current ratio of 3.21 and a quick ratio of 3.21. Rexford Industrial Realty, Inc. has a 1-year low of $41.56 and a 1-year high of $58.02. The business has a fifty day moving average price of $49.11 and a 200-day moving average price of $50.40.

Rexford Industrial Realty (NYSE:REXR) last issued its earnings results on Thursday, April 18th. The real estate investment trust reported $0.27 earnings per share for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.30). The business had revenue of $214.10 million during the quarter, compared to analysts’ expectations of $207.39 million. Rexford Industrial Realty had a return on equity of 3.04% and a net margin of 28.84%. Rexford Industrial Realty’s quarterly revenue was up 15.0% compared to the same quarter last year. During the same period last year, the firm posted $0.52 EPS. Equities analysts forecast that Rexford Industrial Realty, Inc. will post 2.33 earnings per share for the current fiscal year.

Rexford Industrial Realty Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Friday, June 28th will be given a dividend of $0.417 per share. The ex-dividend date of this dividend is Friday, June 28th. This represents a $1.67 dividend on an annualized basis and a yield of 3.84%. Rexford Industrial Realty’s dividend payout ratio (DPR) is 153.21%.

Insider Buying and Selling

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

Wall Street Analysts Forecast Growth

REXR has been the topic of several research reports. Robert W. Baird reissued a “neutral” rating and set a $61.00 price objective (up previously from $53.00) on shares of Rexford Industrial Realty in a research note on Friday, January 5th. 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. Barclays raised their price objective on Rexford Industrial Realty from $45.00 to $46.00 and gave the company an “underweight” rating in a research report on Tuesday, April 23rd. Wedbush began coverage on Rexford Industrial Realty in a report on Monday, April 22nd. They issued a “neutral” rating and a $45.00 target price on the stock. Finally, TheStreet upgraded Rexford Industrial Realty from a “c+” rating to a “b-” rating in a report on Thursday, February 1st. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $54.73.

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.