Koa Wealth Management LLC Trims Position in Rexford Industrial Realty, Inc. (NYSE:REXR)

Key Points

• Koa Wealth Management LLC has reduced its stake in Rexford Industrial Realty by 56.5%, selling 18,500 shares and now holding 14,266 shares valued at approximately $559,000.
• Several institutional investors significantly increased their stakes, with MassMutual Private Wealth & Trust boosting by 332.9% and GAMMA Investing increasing its holdings by 211.2%.
• Rexford Industrial Realty recently declared a quarterly dividend of $0.43, with an annualized yield of 4.7%, although its dividend payout ratio stands at 127.41%.

Koa Wealth Management LLC lowered its position in Rexford Industrial Realty, Inc. (NYSE:REXR - Free Report) by 56.5% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 14,266 shares of the real estate investment trust's stock after selling 18,500 shares during the quarter. Koa Wealth Management LLC's holdings in Rexford Industrial Realty were worth $559,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. MassMutual Private Wealth & Trust FSB increased 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 worth $29,000 after acquiring an additional 566 shares during the last quarter. Bessemer Group Inc. boosted its stake 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 worth $29,000 after purchasing an additional 405 shares during the period. Private Trust Co. NA boosted its stake 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 worth $30,000 after purchasing an additional 370 shares during the period. GAMMA Investing LLC boosted its stake 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 worth $56,000 after purchasing an additional 978 shares during the period. Finally, Avalon Trust Co bought a new position in Rexford Industrial Realty in the 1st quarter worth about $66,000. Hedge funds and other institutional investors own 99.52% of the company's stock.

Rexford Industrial Realty Trading Up 1.6%

Rexford Industrial Realty stock traded up $0.58 during trading hours on Tuesday, reaching $36.99. The company had a trading volume of 2,285,380 shares, compared to its average volume of 2,603,843. The company has a debt-to-equity ratio of 0.37, a current ratio of 5.59 and a quick ratio of 5.59. The company has a 50-day moving average price of $36.67 and a 200 day moving average price of $37.03. The firm has a market cap of $8.75 billion, a price-to-earnings ratio of 27.40, a P/E/G ratio of 4.08 and a beta of 1.10. Rexford Industrial Realty, Inc. has a 12-month low of $29.68 and a 12-month high of $52.61.

Rexford Industrial Realty (NYSE:REXR - Get Free Report) last announced its quarterly earnings results on Wednesday, July 16th. The real estate investment trust reported $0.59 EPS for the quarter, topping analysts' consensus estimates of $0.58 by $0.01. The business 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 business's quarterly revenue was up 5.0% on a year-over-year basis. During the same period in the previous year, the firm earned $0.60 EPS. Equities analysts forecast that Rexford Industrial Realty, Inc. will post 2.38 earnings per share for the current year.

Rexford Industrial Realty Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th will be paid a dividend of $0.43 per share. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $1.72 annualized dividend and a dividend yield of 4.7%. Rexford Industrial Realty's payout ratio is 127.41%.

Insider Activity

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 stock was 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 SEC, which is available through the SEC website. Company insiders own 1.20% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. JPMorgan Chase & Co. cut their target price on Rexford Industrial Realty from $44.00 to $37.00 and set a "neutral" rating for the company in a research note on Thursday, April 24th. Wells Fargo & Company dropped their price target on Rexford Industrial Realty from $45.00 to $39.00 and set an "overweight" rating for the company in a research report on Monday, May 19th. Truist Financial dropped their price target on Rexford Industrial Realty from $44.00 to $37.00 and set a "buy" rating for the company in a research report on Thursday, May 1st. Evercore ISI downgraded Rexford Industrial Realty from an "outperform" rating to an "in-line" rating and dropped their price target for the company from $39.00 to $38.00 in a research report on Friday, July 18th. Finally, Scotiabank dropped their price target on Rexford Industrial Realty from $39.00 to $37.00 and set a "sector perform" rating for the company in a research report on Monday, May 12th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, Rexford Industrial Realty currently has an average rating of "Hold" and an average target price of $39.82.

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.