Governors Lane LP Sells 142,078 Shares of Rexford Industrial Realty, Inc. (NYSE:REXR)

Governors Lane LP trimmed its stake in Rexford Industrial Realty, Inc. (NYSE:REXR - Free Report) by 66.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 71,922 shares of the real estate investment trust's stock after selling 142,078 shares during the period. Governors Lane LP's holdings in Rexford Industrial Realty were worth $2,781,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Quantbot Technologies LP acquired a new position in shares of Rexford Industrial Realty in the 4th quarter worth approximately $33,000. UMB Bank n.a. boosted its stake in Rexford Industrial Realty by 38.9% in the fourth quarter. UMB Bank n.a. now owns 999 shares of the real estate investment trust's stock worth $39,000 after purchasing an additional 280 shares in the last quarter. Whittier Trust Co. of Nevada Inc. boosted its stake in Rexford Industrial Realty by 515.7% in the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 1,490 shares of the real estate investment trust's stock worth $58,000 after purchasing an additional 1,248 shares in the last quarter. Pilgrim Partners Asia Pte Ltd bought a new stake in shares of Rexford Industrial Realty during the fourth quarter worth $65,000. Finally, SRS Capital Advisors Inc. raised its holdings in shares of Rexford Industrial Realty by 4,104.5% in the fourth quarter. SRS Capital Advisors Inc. now owns 2,775 shares of the real estate investment trust's stock valued at $107,000 after buying an additional 2,709 shares during the last quarter. 99.52% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have commented on the stock. Barclays decreased their price objective on shares of Rexford Industrial Realty from $38.00 to $35.00 and set an "underweight" rating on the stock in a report on Wednesday, April 30th. Industrial Alliance Securities set a $38.00 price target on shares of Rexford Industrial Realty in a report on Tuesday, March 25th. Evercore ISI reduced their price objective on Rexford Industrial Realty from $43.00 to $40.00 and set an "outperform" rating on the stock in a report on Monday, April 21st. Scotiabank lowered their target price on Rexford Industrial Realty from $47.00 to $39.00 and set a "sector perform" rating for the company in a research note on Monday, April 7th. Finally, JPMorgan Chase & Co. cut 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 equities research analysts have rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $42.18.

Rexford Industrial Realty Trading Up 1.0 %

NYSE REXR opened at $34.19 on Friday. Rexford Industrial Realty, Inc. has a 12 month low of $29.68 and a 12 month high of $52.61. The stock has a 50-day simple moving average of $36.02 and a 200 day simple moving average of $39.15. The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 0.39. The company has a market capitalization of $8.09 billion, a PE ratio of 28.26, a P/E/G ratio of 2.62 and a beta of 1.12.

Rexford Industrial Realty (NYSE:REXR - Get Free Report) last announced its quarterly earnings results on Wednesday, April 16th. The real estate investment trust reported $0.62 EPS for the quarter, beating analysts' consensus estimates 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 during the quarter, compared to analysts' expectations of $246.74 million. Research analysts forecast that Rexford Industrial Realty, Inc. will post 2.38 EPS for the current year.

Rexford Industrial Realty Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th will be given a dividend of $0.43 per share. The ex-dividend date is Monday, June 30th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 5.03%. Rexford Industrial Realty's dividend payout ratio is 138.71%.

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.

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