Russell Investments Group Ltd. Sells 64,023 Shares of Rexford Industrial Realty, Inc. (NYSE:REXR)

Russell Investments Group Ltd. reduced its stake in Rexford Industrial Realty, Inc. (NYSE:REXR) by 34.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 120,321 shares of the real estate investment trust’s stock after selling 64,023 shares during the period. Russell Investments Group Ltd.’s holdings in Rexford Industrial Realty were worth $6,750,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the stock. GAMMA Investing LLC bought a new stake in shares of Rexford Industrial Realty during the fourth quarter valued at about $41,000. Fifth Third Bancorp increased its stake in 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 acquiring an additional 411 shares during the last quarter. Ninepoint Partners LP purchased a new stake in shares of Rexford Industrial Realty in the 3rd quarter valued at about $108,000. Signaturefd LLC boosted its position in shares of Rexford Industrial Realty by 45.9% during the 3rd quarter. Signaturefd LLC now owns 2,270 shares of the real estate investment trust’s stock valued at $112,000 after acquiring an additional 714 shares during the last quarter. Finally, International Assets Investment Management LLC grew its holdings in shares of Rexford Industrial Realty by 5,510.9% during the fourth quarter. International Assets Investment Management LLC now owns 3,086 shares of the real estate investment trust’s stock worth $173,000 after purchasing an additional 3,031 shares in the last quarter. 99.52% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. TheStreet raised shares of Rexford Industrial Realty from a “c+” rating to a “b-” rating in a research note on Thursday, February 1st. Mizuho reaffirmed a “neutral” rating and set a $52.00 price objective on shares of Rexford Industrial Realty in a report on Tuesday, April 2nd. Truist Financial cut their target price on shares of Rexford Industrial Realty from $53.00 to $50.00 and set a “buy” rating for the company in a research report on Thursday, May 2nd. JPMorgan Chase & Co. downgraded Rexford Industrial Realty from an “overweight” rating to a “neutral” rating and set a $55.00 price target on the stock. in a research report on Wednesday, February 7th. Finally, Wedbush began coverage on Rexford Industrial Realty in a research note on Monday, April 22nd. They set a “neutral” rating and a $45.00 price target for the company. Two equities research 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 company has a consensus rating of “Hold” and a consensus target price of $53.36.

Insider Buying and Selling

In other Rexford Industrial Realty news, General Counsel David E. Lanzer sold 18,113 shares of the 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 legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.20% of the stock is owned by insiders.

Rexford Industrial Realty Stock Performance

NYSE REXR opened at $44.92 on Thursday. The firm has a market cap of $9.78 billion, a price-to-earnings ratio of 41.21, a PEG ratio of 1.94 and a beta of 0.89. The company has a 50-day simple moving average of $48.01 and a two-hundred day simple moving average of $50.22. The company has a quick ratio of 3.21, a current ratio of 3.21 and a debt-to-equity ratio of 0.41. Rexford Industrial Realty, Inc. has a 12-month low of $41.56 and a 12-month high of $58.02.

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 the consensus estimate of $0.57 by ($0.30). The company 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 3.04%. The company’s revenue was up 15.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.52 earnings per share. On average, equities analysts forecast that Rexford Industrial Realty, Inc. will post 2.34 EPS for the current year.

Rexford Industrial Realty Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Friday, June 28th will be issued a $0.417 dividend. This represents a $1.67 annualized dividend and a dividend yield of 3.71%. The ex-dividend date of this dividend is Friday, June 28th. Rexford Industrial Realty’s dividend payout ratio is 153.21%.

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.