Rexford Industrial Realty, Inc. (NYSE:REXR) Shares Sold by Reinhart Partners LLC.

Reinhart Partners LLC. decreased its stake in shares of Rexford Industrial Realty, Inc. (NYSE:REXR - Free Report) by 3.9% during the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 271,712 shares of the real estate investment trust's stock after selling 10,886 shares during the quarter. Reinhart Partners LLC. owned about 0.12% of Rexford Industrial Realty worth $10,638,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Utah Retirement Systems lifted its position in Rexford Industrial Realty by 0.8% during the fourth 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 in the last quarter. CIBC Asset Management Inc lifted its position in Rexford Industrial Realty by 5.7% during the fourth quarter. CIBC Asset Management Inc now owns 6,572 shares of the real estate investment trust's stock worth $254,000 after buying an additional 355 shares in the last quarter. Isthmus Partners LLC lifted its position in Rexford Industrial Realty by 7.3% during the fourth quarter. Isthmus Partners LLC now owns 6,887 shares of the real estate investment trust's stock worth $266,000 after buying an additional 469 shares in the last quarter. Quarry LP lifted its position in Rexford Industrial Realty by 18.3% during the fourth 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 in the last quarter. Finally, MassMutual Private Wealth & Trust FSB raised its position in 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 valued at $29,000 after purchasing an additional 566 shares during the period. Hedge funds and other institutional investors own 99.52% of the company's stock.

Rexford Industrial Realty Trading Up 1.4%

Shares of REXR traded up $0.51 during trading hours on Tuesday, hitting $37.11. The stock had a trading volume of 2,562,254 shares, compared to its average volume of 2,048,582. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.30 and a current ratio of 1.30. The firm has a market cap of $8.78 billion, a P/E ratio of 30.67, a P/E/G ratio of 2.62 and a beta of 1.14. The company's fifty day simple moving average is $34.15 and its 200 day simple moving average is $37.98. 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 released its quarterly earnings data on Wednesday, April 16th. The real estate investment trust reported $0.62 EPS for the quarter, beating the consensus estimate of $0.57 by $0.05. Rexford Industrial Realty had a return on equity of 3.26% and a net margin of 29.10%. The company had revenue of $248.82 million for the quarter, compared to analyst estimates of $246.74 million. Equities research analysts forecast 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 Tuesday, July 15th. Shareholders of record on Monday, June 30th will be given a $0.43 dividend. This represents a $1.72 annualized dividend and a yield of 4.63%. The ex-dividend date is Monday, June 30th. Rexford Industrial Realty's dividend payout ratio (DPR) is presently 138.71%.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Barclays dropped their price objective on Rexford Industrial Realty from $38.00 to $35.00 and set an "underweight" rating for the company in a research note on Wednesday, April 30th. Industrial Alliance Securities set a $38.00 target price on Rexford Industrial Realty in a research note on Tuesday, March 25th. Wells Fargo & Company lowered their price target on Rexford Industrial Realty from $45.00 to $39.00 and set an "overweight" rating on the stock in a report on Monday, May 19th. Truist Financial reduced their price target on 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, JPMorgan Chase & Co. reduced their price target 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 analysts have rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $40.00.

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.