Knights of Columbus Asset Advisors LLC Trims Position in Rexford Industrial Realty, Inc. (NYSE:REXR)

Key Points

• Knights of Columbus Asset Advisors LLC reduced its stake in Rexford Industrial Realty, Inc. by 51.5%, selling 37,352 shares to end the period with 35,157 shares valued at $1,376,000.
• Several large investors have recently adjusted their positions in Rexford, with Vanguard Group Inc. owning approximately $1.16 billion worth of shares after increasing its position by 1.9%.
• Investment analysts have downgraded their price targets for Rexford Industrial Realty, with Barclays reducing it from $38.00 to $35.00 and Truist Financial from $44.00 to $37.00, indicating mixed sentiment towards the stock.

Knights of Columbus Asset Advisors LLC lowered its position in shares of Rexford Industrial Realty, Inc. (NYSE:REXR - Free Report) by 51.5% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 35,157 shares of the real estate investment trust's stock after selling 37,352 shares during the period. Knights of Columbus Asset Advisors LLC's holdings in Rexford Industrial Realty were worth $1,376,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Utah Retirement Systems increased its holdings in shares of Rexford Industrial Realty by 0.8% during the 4th quarter. Utah Retirement Systems now owns 36,000 shares of the real estate investment trust's stock worth $1,392,000 after buying an additional 300 shares during the last quarter. M&T Bank Corp increased its holdings in shares of Rexford Industrial Realty by 1.2% during the 1st quarter. M&T Bank Corp now owns 26,857 shares of the real estate investment trust's stock worth $1,052,000 after buying an additional 317 shares during the last quarter. Private Trust Co. NA increased its holdings in shares of Rexford Industrial Realty by 95.6% during the 1st quarter. Private Trust Co. NA now owns 757 shares of the real estate investment trust's stock worth $30,000 after buying an additional 370 shares during the last quarter. Bessemer Group Inc. increased its holdings in shares of Rexford Industrial Realty by 118.4% during the 1st quarter. Bessemer Group Inc. now owns 747 shares of the real estate investment trust's stock worth $29,000 after buying an additional 405 shares during the last quarter. Finally, Quarry LP increased its holdings in shares of Rexford Industrial Realty by 18.3% during the 4th quarter. Quarry LP now owns 3,135 shares of the real estate investment trust's stock worth $121,000 after buying an additional 486 shares during the last quarter. Institutional investors and hedge funds own 99.52% of the company's stock.

Insider Activity at Rexford Industrial Realty

In related news, General Counsel David E. Lanzer sold 26,449 shares of the business's stock in a transaction 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.20% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on REXR shares. Robert W. Baird set a $43.00 price target on shares of Rexford Industrial Realty in a report on Tuesday, May 6th. JPMorgan Chase & Co. dropped their target price on shares of Rexford Industrial Realty from $44.00 to $37.00 and set a "neutral" rating for the company in a report on Thursday, April 24th. Wells Fargo & Company dropped their target price on shares of Rexford Industrial Realty from $45.00 to $39.00 and set an "overweight" rating for the company in a report on Monday, May 19th. Evercore ISI downgraded shares of Rexford Industrial Realty from an "outperform" rating to an "in-line" rating and dropped their target price for the company from $39.00 to $38.00 in a report on Friday, July 18th. Finally, Scotiabank dropped their target price on shares of Rexford Industrial Realty from $39.00 to $37.00 and set a "sector perform" rating for the company in a report on Monday, May 12th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $39.82.

Rexford Industrial Realty Stock Down 0.0%

Shares of NYSE:REXR traded down $0.01 during trading on Wednesday, hitting $37.59. The company's stock had a trading volume of 354,766 shares, compared to its average volume of 2,624,365. The business has a 50 day moving average price of $36.38 and a two-hundred day moving average price of $37.23. The company has a market capitalization of $8.90 billion, a PE ratio of 27.83, a P/E/G ratio of 4.11 and a beta of 1.13. 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, Inc. has a fifty-two week low of $29.68 and a fifty-two week high of $52.61.

Rexford Industrial Realty (NYSE:REXR - Get Free Report) last posted its quarterly earnings results on Wednesday, July 16th. The real estate investment trust reported $0.59 EPS for the quarter, topping the consensus estimate of $0.58 by $0.01. The business had revenue of $241.57 million during the quarter, compared to the consensus estimate of $251.72 million. Rexford Industrial Realty had a net margin of 32.04% and a return on equity of 3.62%. The company's quarterly revenue was up 5.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.60 earnings per share. As a group, research analysts expect that Rexford Industrial Realty, Inc. will post 2.38 EPS for the current fiscal year.

Rexford Industrial Realty Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th will be paid a dividend of $0.43 per share. The ex-dividend date is Tuesday, September 30th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 4.58%. Rexford Industrial Realty's payout ratio is currently 127.41%.

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.