Swiss National Bank Sells 35,500 Shares of Rexford Industrial Realty, Inc. (NYSE:REXR)

Swiss National Bank lessened its holdings in Rexford Industrial Realty, Inc. (NYSE:REXR) by 8.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 406,316 shares of the real estate investment trust’s stock after selling 35,500 shares during the period. Swiss National Bank’s holdings in Rexford Industrial Realty were worth $22,794,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in REXR. Envestnet Asset Management Inc. grew its stake in shares of Rexford Industrial Realty by 139.5% in the 3rd quarter. Envestnet Asset Management Inc. now owns 232,848 shares of the real estate investment trust’s stock worth $11,491,000 after acquiring an additional 135,627 shares in the last quarter. Pacer Advisors Inc. increased its stake in Rexford Industrial Realty by 12.8% in the 4th quarter. Pacer Advisors Inc. now owns 207,609 shares of the real estate investment trust’s stock valued at $11,647,000 after buying an additional 23,510 shares during the last quarter. Louisiana State Employees Retirement System purchased a new position in shares of Rexford Industrial Realty in the 4th quarter worth approximately $3,327,000. Daiwa Securities Group Inc. grew its holdings in shares of Rexford Industrial Realty by 1.5% in the fourth quarter. Daiwa Securities Group Inc. now owns 79,851 shares of the real estate investment trust’s stock valued at $4,480,000 after acquiring an additional 1,171 shares in the last quarter. Finally, The Manufacturers Life Insurance Company lifted its holdings in Rexford Industrial Realty by 6.8% during the third quarter. The Manufacturers Life Insurance Company now owns 314,170 shares of the real estate investment trust’s stock worth $15,506,000 after acquiring an additional 19,981 shares during the period. Institutional investors own 99.52% of the company’s stock.

Insider Activity

In other Rexford Industrial Realty news, General Counsel David E. Lanzer sold 18,113 shares of the stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $52.69, for a total value of $954,373.97. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 1.20% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of brokerages have issued reports on REXR. Robert W. Baird reduced their price objective on Rexford Industrial Realty from $57.00 to $49.00 and set a “neutral” rating for the company in a research note on Wednesday, May 1st. TheStreet upgraded shares of Rexford Industrial Realty from a “c+” rating to a “b-” rating in a report on Thursday, February 1st. Truist Financial dropped their target price on shares of Rexford Industrial Realty from $53.00 to $50.00 and set a “buy” rating on the stock in a research note on Thursday, May 2nd. Mizuho restated a “neutral” rating and set a $52.00 price target on shares of Rexford Industrial Realty in a research note on Tuesday, April 2nd. Finally, Barclays increased their price objective on Rexford Industrial Realty from $45.00 to $46.00 and gave the company an “underweight” rating in a report on Tuesday, April 23rd. Two research analysts have rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, Rexford Industrial Realty currently has a consensus rating of “Hold” and an average price target of $53.36.

Rexford Industrial Realty Trading Down 0.4 %

NYSE:REXR opened at $44.92 on Thursday. Rexford Industrial Realty, Inc. has a 1 year low of $41.56 and a 1 year high of $58.02. The stock’s fifty day moving average price is $48.01 and its two-hundred day moving average price is $50.22. The company has a debt-to-equity ratio of 0.41, a current ratio of 3.21 and a quick ratio of 3.21. The company has a market cap of $9.78 billion, a P/E ratio of 41.21, a P/E/G ratio of 1.94 and a beta of 0.89.

Rexford Industrial Realty (NYSE:REXR) last issued its quarterly earnings data on Thursday, April 18th. The real estate investment trust reported $0.27 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 return on equity of 3.04% and a net margin of 28.84%. The business’s revenue for the quarter was up 15.0% on a year-over-year basis. During the same period last year, the company posted $0.52 EPS. As a group, analysts expect that Rexford Industrial Realty, Inc. will post 2.34 EPS for the current year.

Rexford Industrial Realty Cuts Dividend

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