First Foundation Advisors Trims Stake in Rexford Industrial Realty, Inc. (NYSE:REXR)

Key Points

• First Foundation Advisors reduced its stake in Rexford Industrial Realty by 40.9%, now holding 113,652 shares worth $4,449,000 after selling 78,697 shares in the first quarter.
• Rexford Industrial Realty's recent quarterly earnings reported $0.59 earnings per share, slightly beating the consensus estimate of $0.58, with revenues up 5.0% year-over-year.
• The company announced a quarterly dividend of $0.43 per share, representing an annualized dividend yield of 4.65%, with a high payout ratio of 127.41%.

First Foundation Advisors lowered its stake in shares of Rexford Industrial Realty, Inc. (NYSE:REXR - Free Report) by 40.9% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 113,652 shares of the real estate investment trust's stock after selling 78,697 shares during the quarter. First Foundation Advisors' holdings in Rexford Industrial Realty were worth $4,449,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently modified their holdings of REXR. Massachusetts Financial Services Co. MA boosted its stake in Rexford Industrial Realty by 130.2% during the first quarter. Massachusetts Financial Services Co. MA now owns 7,751,922 shares of the real estate investment trust's stock worth $303,488,000 after acquiring an additional 4,384,624 shares in the last quarter. Rush Island Management LP bought a new stake in Rexford Industrial Realty during the fourth quarter worth about $132,701,000. Norges Bank bought a new stake in Rexford Industrial Realty during the fourth quarter worth about $104,685,000. Long Pond Capital LP bought a new stake in Rexford Industrial Realty during the fourth quarter worth about $58,595,000. Finally, Northern Trust Corp boosted its stake in Rexford Industrial Realty by 94.3% during the fourth quarter. Northern Trust Corp now owns 3,104,624 shares of the real estate investment trust's stock worth $120,025,000 after acquiring an additional 1,506,779 shares in the last quarter. Hedge funds and other institutional investors own 99.52% of the company's stock.

Rexford Industrial Realty Trading Down 1.7%

Shares of NYSE REXR opened at $36.98 on Tuesday. The firm's 50 day moving average price is $36.33 and its 200-day moving average price is $37.22. The company has a market cap of $8.75 billion, a PE ratio of 27.39, a P/E/G ratio of 4.18 and a beta of 1.13. Rexford Industrial Realty, Inc. has a 52-week low of $29.68 and a 52-week 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 - Get Free Report) last released its quarterly earnings data on Wednesday, July 16th. The real estate investment trust reported $0.59 earnings per share 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 firm had revenue of $241.57 million during the quarter, compared to analysts' expectations of $251.72 million. During the same period in the previous year, the company earned $0.60 earnings per share. The firm's quarterly revenue was up 5.0% on a year-over-year basis. On average, equities research analysts expect that Rexford Industrial Realty, Inc. will post 2.38 EPS for the current fiscal year.

Rexford Industrial Realty Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th will be issued a dividend of $0.43 per share. The ex-dividend date is Tuesday, September 30th. This represents a $1.72 annualized dividend and a dividend yield of 4.65%. Rexford Industrial Realty's payout ratio is 127.41%.

Insider Buying and Selling at Rexford Industrial Realty

In other 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 shares were sold at an average price of $36.87, for a total transaction of $975,174.63. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.20% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. Robert W. Baird set a $43.00 price objective on shares of Rexford Industrial Realty in a research note on Tuesday, May 6th. Evercore ISI lowered shares of Rexford Industrial Realty from an "outperform" rating to an "in-line" rating and dropped their price objective for the stock from $39.00 to $38.00 in a research note on Friday, July 18th. Scotiabank dropped their price objective on shares of 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. Truist Financial dropped their price objective on shares of Rexford Industrial Realty from $44.00 to $37.00 and set a "buy" rating on the stock in a research note on Thursday, May 1st. Finally, Wells Fargo & Company dropped their target price on shares of 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. 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. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $39.82.

Rexford Industrial Realty Company 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.

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