Pacer Advisors Inc. Decreases Stock Holdings in Rexford Industrial Realty, Inc. (NYSE:REXR)

Key Points

• Pacer Advisors Inc. reduced its stake in Rexford Industrial Realty by 23.8%, owning 157,482 shares, valued at approximately $6.17 million after selling 49,075 shares in the first quarter.
• Several institutional investors have changed their positions, with Massachusetts Financial Services Co. increasing its holdings by 130.2%, now owning 7.75 million shares valued at $303.5 million.
• Rexford Industrial Realty recently announced a quarterly dividend of $0.43 per share, equating to a dividend yield of 4.58%, with a payout ratio of 127.41%.

Pacer Advisors Inc. cut its stake in shares of Rexford Industrial Realty, Inc. (NYSE:REXR - Free Report) by 23.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 157,482 shares of the real estate investment trust's stock after selling 49,075 shares during the period. Pacer Advisors Inc. owned about 0.07% of Rexford Industrial Realty worth $6,165,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. MassMutual Private Wealth & Trust FSB grew its holdings in shares of 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 acquiring an additional 566 shares in the last quarter. Bessemer Group Inc. raised its position in Rexford Industrial Realty by 118.4% in the first quarter. Bessemer Group Inc. now owns 747 shares of the real estate investment trust's stock worth $29,000 after acquiring an additional 405 shares during the period. Private Trust Co. NA boosted its stake in Rexford Industrial Realty by 95.6% in the first quarter. Private Trust Co. NA now owns 757 shares of the real estate investment trust's stock valued at $30,000 after acquiring an additional 370 shares during the last quarter. Quantbot Technologies LP bought a new position in shares of Rexford Industrial Realty during the 4th quarter valued at approximately $33,000. Finally, GAMMA Investing LLC grew its holdings in Rexford Industrial Realty by 211.2% during the first 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 during the period. Institutional investors own 99.52% of the company's stock.

Rexford Industrial Realty Price Performance

Shares of Rexford Industrial Realty stock traded down $0.05 on Thursday, hitting $37.14. 585,405 shares of the company traded hands, compared to its average volume of 2,619,009. Rexford Industrial Realty, Inc. has a 12-month low of $29.68 and a 12-month high of $52.61. The firm's 50-day simple moving average is $36.44 and its 200 day simple moving average is $37.23. The company has a market cap of $8.79 billion, a P/E ratio of 27.52, a P/E/G ratio of 4.18 and a beta of 1.13. The company has a current ratio of 5.59, a quick ratio of 5.59 and a debt-to-equity ratio of 0.37.

Rexford Industrial Realty (NYSE:REXR - Get Free Report) last posted its quarterly earnings data on Wednesday, July 16th. The real estate investment trust reported $0.59 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.58 by $0.01. The firm had revenue of $241.57 million during 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 company's revenue for the quarter was up 5.0% compared to the same quarter last year. During the same period in the prior year, the business earned $0.60 EPS. Analysts expect that Rexford Industrial Realty, Inc. will post 2.38 earnings per share for the current fiscal year.

Rexford Industrial Realty Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th will be given a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a yield of 4.63%. The ex-dividend date of this dividend is Tuesday, September 30th. Rexford Industrial Realty's payout ratio is presently 127.41%.

Insider Activity

In related news, General Counsel David E. Lanzer sold 26,449 shares of the firm's stock in a transaction dated Monday, July 21st. The stock was sold at an average price of $36.87, for a total value of $975,174.63. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 1.20% of the company's stock.

Analyst Ratings Changes

REXR has been the topic of several recent research reports. JPMorgan Chase & Co. dropped their price objective 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. 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 downgraded Rexford Industrial Realty from an "outperform" rating to an "in-line" rating and dropped their target price for the stock from $39.00 to $38.00 in a research report on Friday, July 18th. Scotiabank reduced 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. Finally, Truist Financial dropped their price objective on Rexford Industrial Realty from $44.00 to $37.00 and set a "buy" rating on the stock in a report on Thursday, May 1st. Two analysts have rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, Rexford Industrial Realty currently has an average rating of "Hold" and an average 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.