Cetera Investment Advisers Decreases Stake in Rexford Industrial Realty, Inc. $REXR

Cetera Investment Advisers reduced its position in Rexford Industrial Realty, Inc. (NYSE:REXR) by 5.3% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,102 shares of the real estate investment trust’s stock after selling 621 shares during the period. Cetera Investment Advisers’ holdings in Rexford Industrial Realty were worth $435,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. MassMutual Private Wealth & Trust FSB lifted its position in shares of Rexford Industrial Realty by 332.9% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 736 shares of the real estate investment trust’s stock worth $29,000 after buying an additional 566 shares in the last quarter. Bessemer Group Inc. increased its stake in Rexford Industrial Realty by 118.4% during the first quarter. Bessemer Group Inc. now owns 747 shares of the real estate investment trust’s stock worth $29,000 after acquiring an additional 405 shares during the last quarter. Private Trust Co. NA increased its stake in Rexford Industrial Realty by 95.6% during the first quarter. Private Trust Co. NA now owns 757 shares of the real estate investment trust’s stock worth $30,000 after acquiring an additional 370 shares during the last quarter. GAMMA Investing LLC increased its stake in Rexford Industrial Realty by 211.2% during the first quarter. GAMMA Investing LLC now owns 1,441 shares of the real estate investment trust’s stock worth $56,000 after acquiring an additional 978 shares during the last quarter. Finally, UMB Bank n.a. increased its stake in Rexford Industrial Realty by 188.0% during the first quarter. UMB Bank n.a. now owns 2,877 shares of the real estate investment trust’s stock worth $113,000 after acquiring an additional 1,878 shares during the last quarter. 99.52% of the stock is currently owned by hedge funds and other institutional investors.

Rexford Industrial Realty Trading Up 1.1%

REXR opened at $38.19 on Monday. The stock has a market cap of $9.04 billion, a price-to-earnings ratio of 28.29, a P/E/G ratio of 4.23 and a beta of 1.10. The stock’s 50 day moving average price is $36.83 and its 200-day moving average price is $36.94. Rexford Industrial Realty, Inc. has a one year low of $29.68 and a one year high of $52.61. The company has a debt-to-equity ratio of 0.37, a quick ratio of 5.59 and a current ratio of 5.59.

Rexford Industrial Realty (NYSE:REXR) last released its earnings results on Wednesday, July 16th. The real estate investment trust reported $0.59 EPS for the quarter, beating analysts’ consensus estimates of $0.58 by $0.01. The firm had revenue of $241.57 million for the quarter, compared to analysts’ expectations of $251.72 million. Rexford Industrial Realty had a return on equity of 3.62% and a net margin of 32.04%. The company’s quarterly revenue was up 5.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.60 earnings per share. On average, equities analysts forecast that Rexford Industrial Realty, Inc. will post 2.38 EPS for the current year.

Rexford Industrial Realty Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th will be issued a $0.43 dividend. The ex-dividend date is Tuesday, September 30th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 4.5%. Rexford Industrial Realty’s payout ratio is presently 127.41%.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on REXR shares. Barclays reduced their price objective on Rexford Industrial Realty from $38.00 to $35.00 and set an “underweight” rating on the stock in a research note on Wednesday, April 30th. Evercore ISI cut Rexford Industrial Realty from an “outperform” rating to an “in-line” rating and reduced their price objective for the stock from $39.00 to $38.00 in a research note on Friday, July 18th. Wells Fargo & Company reduced their price objective on Rexford Industrial Realty from $45.00 to $39.00 and set an “overweight” rating on the stock in a research note on Monday, May 19th. Scotiabank reduced their price objective on Rexford Industrial Realty from $39.00 to $37.00 and set a “sector perform” rating on the stock in a research note on Monday, May 12th. Finally, JPMorgan Chase & Co. reduced their price objective on Rexford Industrial Realty from $44.00 to $37.00 and set a “neutral” rating on the stock in a research note on Thursday, April 24th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $39.82.

Insider Activity

In related news, General Counsel David E. Lanzer sold 26,449 shares of the business’s stock in a transaction that occurred on Monday, July 21st. The stock was sold at an average price of $36.87, for a total value of $975,174.63. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 1.20% of the company’s stock.

Rexford Industrial Realty Profile

Rexford Industrial Realty, Inc is a self-administered and self-managed real estate investment trust, which engages in owning and operating industrial properties in infill markets. The company was founded by Richard S. Ziman on January 18, 2013 and is headquartered in Los Angeles, CA.