Xponance Inc. Trims Stake in Rexford Industrial Realty, Inc. (NYSE:REXR)

Xponance Inc. cut its holdings in shares of Rexford Industrial Realty, Inc. (NYSE:REXR) by 7.0% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 23,344 shares of the real estate investment trust’s stock after selling 1,764 shares during the quarter. Xponance Inc.’s holdings in Rexford Industrial Realty were worth $1,041,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Massmutual Trust Co. FSB ADV increased its holdings in Rexford Industrial Realty by 169.4% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 555 shares of the real estate investment trust’s stock valued at $25,000 after purchasing an additional 349 shares during the last quarter. V Square Quantitative Management LLC acquired a new position in Rexford Industrial Realty during the second quarter worth $26,000. Headlands Technologies LLC purchased a new position in shares of Rexford Industrial Realty during the second quarter worth $41,000. EverSource Wealth Advisors LLC grew its stake in shares of Rexford Industrial Realty by 1,252.2% in the first quarter. EverSource Wealth Advisors LLC now owns 933 shares of the real estate investment trust’s stock valued at $47,000 after buying an additional 864 shares in the last quarter. Finally, Advisors Asset Management Inc. raised its holdings in shares of Rexford Industrial Realty by 136.6% in the 1st quarter. Advisors Asset Management Inc. now owns 1,086 shares of the real estate investment trust’s stock valued at $55,000 after buying an additional 627 shares during the period. 99.52% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Truist Financial raised their target price on Rexford Industrial Realty from $50.00 to $54.00 and gave the company a “buy” rating in a report on Tuesday, July 30th. StockNews.com raised shares of Rexford Industrial Realty from a “sell” rating to a “hold” rating in a research note on Monday, July 22nd. Mizuho dropped their price objective on shares of Rexford Industrial Realty from $50.00 to $49.00 and set a “neutral” rating for the company in a report on Thursday, September 5th. Evercore ISI increased their target price on shares of Rexford Industrial Realty from $57.00 to $58.00 and gave the stock an “outperform” rating in a report on Monday, September 16th. Finally, Scotiabank boosted their price target on shares of Rexford Industrial Realty from $51.00 to $55.00 and gave the stock a “sector outperform” rating in a research note on Monday, August 26th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $52.50.

Insider Buying and Selling at Rexford Industrial Realty

In other news, CEO Howard Schwimmer sold 30,358 shares of the business’s stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $48.86, for a total transaction of $1,483,291.88. Following the completion of the sale, the chief executive officer now owns 50,673 shares in the company, valued at approximately $2,475,882.78. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CFO Laura E. Clark sold 14,185 shares of the company’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $50.15, for a total value of $711,377.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Howard Schwimmer sold 30,358 shares of the firm’s stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $48.86, for a total value of $1,483,291.88. Following the transaction, the chief executive officer now owns 50,673 shares in the company, valued at approximately $2,475,882.78. The disclosure for this sale can be found here. 1.20% of the stock is currently owned by insiders.

Rexford Industrial Realty Price Performance

Shares of REXR opened at $50.51 on Friday. The firm has a market capitalization of $11.09 billion, a price-to-earnings ratio of 46.34, a PEG ratio of 2.13 and a beta of 0.93. The firm’s fifty day simple moving average is $50.32 and its 200-day simple moving average is $47.66. Rexford Industrial Realty, Inc. has a twelve month low of $41.56 and a twelve month high of $58.02. The company has a current ratio of 1.73, a quick ratio of 1.73 and a debt-to-equity ratio of 0.41.

Rexford Industrial Realty (NYSE:REXR) last announced its quarterly earnings results on Wednesday, July 17th. The real estate investment trust reported $0.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.21). Rexford Industrial Realty had a return on equity of 3.31% and a net margin of 30.71%. The business had revenue of $237.60 million for the quarter, compared to analysts’ expectations of $227.70 million. During the same period last year, the firm earned $0.54 earnings per share. The firm’s quarterly revenue was up 21.3% on a year-over-year basis. Equities analysts forecast that Rexford Industrial Realty, Inc. will post 2.35 EPS for the current fiscal year.

Rexford Industrial Realty Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 30th will be issued a $0.4175 dividend. This represents a $1.67 dividend on an annualized basis and a yield of 3.31%. This is an increase from Rexford Industrial Realty’s previous quarterly dividend of $0.42. The ex-dividend date of this dividend is Monday, September 30th. Rexford Industrial Realty’s dividend payout ratio is 153.21%.

Rexford Industrial Realty 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.