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

Cetera Investment Advisers cut its holdings in Rexford Industrial Realty, Inc. (NYSE:REXR) by 5.3% during the 1st quarter, according to its most recent 13F filing with the Securities & 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 as of its most recent SEC filing.

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

Rexford Industrial Realty Stock Up 1.1%

REXR opened at $38.19 on Monday. The firm has a 50 day moving average price of $36.83 and a 200 day moving average price of $36.94. The company has a market cap of $9.04 billion, a PE ratio of 28.29, a price-to-earnings-growth ratio of 4.23 and a beta of 1.10. Rexford Industrial Realty, Inc. has a 1 year low of $29.68 and a 1 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 issued its quarterly earnings data on Wednesday, July 16th. The real estate investment trust reported $0.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.58 by $0.01. Rexford Industrial Realty had a net margin of 32.04% and a return on equity of 3.62%. The company had revenue of $241.57 million during the quarter, compared to the consensus estimate of $251.72 million. During the same quarter last year, the company earned $0.60 earnings per share. Rexford Industrial Realty’s revenue for the quarter was up 5.0% on a year-over-year basis. Sell-side analysts expect that Rexford Industrial Realty, Inc. will post 2.38 earnings per share for the current year.

Rexford Industrial Realty Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Tuesday, September 30th will be given a $0.43 dividend. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $1.72 annualized dividend and a yield of 4.5%. Rexford Industrial Realty’s dividend payout ratio (DPR) is 127.41%.

Insider Transactions at Rexford Industrial Realty

In other Rexford Industrial Realty news, General Counsel David E. Lanzer sold 26,449 shares of the stock in a transaction that occurred on Monday, July 21st. The shares were sold at an average price of $36.87, for a total value of $975,174.63. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.20% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. Robert W. Baird set a $43.00 target price on shares of Rexford Industrial Realty in a report on Tuesday, May 6th. Evercore ISI lowered shares of Rexford Industrial Realty from an “outperform” rating to an “in-line” rating and reduced their target price for the company from $39.00 to $38.00 in a report on Friday, July 18th. Scotiabank reduced their target price on shares of Rexford Industrial Realty from $39.00 to $37.00 and set a “sector perform” rating on the stock in a report on Monday, May 12th. JPMorgan Chase & Co. reduced their target price on shares of Rexford Industrial Realty from $44.00 to $37.00 and set a “neutral” rating on the stock in a report on Thursday, April 24th. Finally, Barclays cut their price objective on shares of Rexford Industrial Realty from $38.00 to $35.00 and set an “underweight” rating on the stock in a report on Wednesday, April 30th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $39.82.

About Rexford Industrial Realty

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.