Parallel Advisors LLC Sells 3,131 Shares of Rexford Industrial Realty, Inc. (NYSE:REXR)

Parallel Advisors LLC lessened its stake in shares of Rexford Industrial Realty, Inc. (NYSE:REXRFree Report) by 49.2% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,234 shares of the real estate investment trust’s stock after selling 3,131 shares during the period. Parallel Advisors LLC’s holdings in Rexford Industrial Realty were worth $181,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. Norges Bank bought a new stake in Rexford Industrial Realty in the fourth quarter valued at approximately $157,685,000. Boston Partners raised its stake in Rexford Industrial Realty by 63.3% in the fourth quarter. Boston Partners now owns 2,772,565 shares of the real estate investment trust’s stock valued at $155,536,000 after buying an additional 1,075,005 shares during the period. Massachusetts Financial Services Co. MA raised its stake in Rexford Industrial Realty by 103.2% in the third quarter. Massachusetts Financial Services Co. MA now owns 1,591,399 shares of the real estate investment trust’s stock valued at $78,536,000 after buying an additional 808,134 shares during the period. Schonfeld Strategic Advisors LLC raised its stake in Rexford Industrial Realty by 267.6% in the third quarter. Schonfeld Strategic Advisors LLC now owns 1,003,426 shares of the real estate investment trust’s stock valued at $49,519,000 after buying an additional 730,424 shares during the period. Finally, Westfield Capital Management Co. LP bought a new stake in Rexford Industrial Realty in the fourth quarter valued at approximately $35,903,000. Institutional investors own 99.52% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Scotiabank dropped their price objective on Rexford Industrial Realty from $55.00 to $51.00 and set a “sector outperform” rating on the stock in a research note on Thursday, May 16th. Barclays upped their target price 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 initiated coverage on Rexford Industrial Realty in a research report on Monday, April 22nd. They issued a “neutral” rating and a $45.00 target price on the stock. Mizuho decreased their target price on Rexford Industrial Realty from $52.00 to $50.00 and set a “neutral” rating on the stock in a research report on Friday. Finally, Robert W. Baird decreased their target price on Rexford Industrial Realty from $57.00 to $49.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 1st. Two analysts have rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $52.82.

View Our Latest Analysis on Rexford Industrial Realty

Rexford Industrial Realty Trading Down 1.5 %

Shares of NYSE:REXR opened at $44.69 on Tuesday. The company has a market capitalization of $9.73 billion, a P/E ratio of 41.00, a P/E/G ratio of 1.83 and a beta of 0.93. Rexford Industrial Realty, Inc. has a 1 year low of $41.56 and a 1 year high of $58.02. 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 business’s 50 day simple moving average is $45.56 and its 200 day simple moving average is $50.34.

Rexford Industrial Realty (NYSE:REXRGet Free Report) last issued its quarterly earnings results 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 analyst estimates of $207.39 million. Rexford Industrial Realty had a return on equity of 3.04% and a net margin of 28.84%. The company’s quarterly revenue was up 15.0% compared to the same quarter last year. During the same period in the prior year, the company earned $0.52 EPS. On average, research analysts anticipate that Rexford Industrial Realty, Inc. will post 2.34 EPS for the current fiscal year.

Rexford Industrial Realty Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Friday, June 28th will be issued a $0.417 dividend. This represents a $1.67 dividend on an annualized basis and a dividend yield of 3.73%. The ex-dividend date of this dividend is Friday, June 28th. Rexford Industrial Realty’s dividend payout ratio is presently 153.21%.

Rexford Industrial Realty Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Rexford Industrial Realty (NYSE:REXR)

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