Sumitomo Mitsui Trust Holdings Inc. Cuts Position in Rexford Industrial Realty, Inc. (NYSE:REXR)

Sumitomo Mitsui Trust Holdings Inc. cut its holdings in Rexford Industrial Realty, Inc. (NYSE:REXR - Free Report) by 24.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,138,625 shares of the real estate investment trust's stock after selling 374,717 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned about 0.54% of Rexford Industrial Realty worth $63,877,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of REXR. Envestnet Asset Management Inc. grew its holdings in Rexford Industrial Realty by 139.5% during the third quarter. Envestnet Asset Management Inc. now owns 232,848 shares of the real estate investment trust's stock valued at $11,491,000 after purchasing an additional 135,627 shares during the period. Pacer Advisors Inc. grew its holdings in Rexford Industrial Realty by 12.8% during the fourth quarter. Pacer Advisors Inc. now owns 207,609 shares of the real estate investment trust's stock valued at $11,647,000 after purchasing an additional 23,510 shares during the period. Louisiana State Employees Retirement System bought a new position in Rexford Industrial Realty during the fourth quarter valued at $3,327,000. The Manufacturers Life Insurance Company grew its holdings in Rexford Industrial Realty by 6.8% during the third quarter. The Manufacturers Life Insurance Company now owns 314,170 shares of the real estate investment trust's stock valued at $15,506,000 after purchasing an additional 19,981 shares during the period. Finally, Citigroup Inc. grew its holdings in Rexford Industrial Realty by 63.9% during the third quarter. Citigroup Inc. now owns 104,103 shares of the real estate investment trust's stock valued at $5,137,000 after purchasing an additional 40,587 shares during the period. 99.52% of the stock is owned by institutional investors.

Insider Activity at Rexford Industrial Realty

In other Rexford Industrial Realty news, General Counsel David E. Lanzer sold 18,113 shares of the company's stock in a transaction on Monday, February 12th. The shares were sold at an average price of $52.69, for a total value of $954,373.97. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.10% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several equities analysts have weighed in on REXR shares. JPMorgan Chase & Co. lowered Rexford Industrial Realty from an "overweight" rating to a "neutral" rating and set a $55.00 price objective for the company. in a report on Wednesday, February 7th. Robert W. Baird restated a "neutral" rating and set a $61.00 target price (up previously from $53.00) on shares of Rexford Industrial Realty in a research report on Friday, January 5th. Mizuho restated a "neutral" rating and set a $52.00 target price on shares of Rexford Industrial Realty in a research report on Tuesday, April 2nd. TheStreet upgraded Rexford Industrial Realty from a "c+" rating to a "b-" rating in a research report on Thursday, February 1st. Finally, Barclays started coverage on Rexford Industrial Realty in a research report on Wednesday, March 27th. They set an "underweight" rating and a $45.00 target price on the stock. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $55.60.

Rexford Industrial Realty Price Performance

Shares of REXR stock traded down $0.45 on Friday, reaching $42.74. The company's stock had a trading volume of 2,694,335 shares, compared to its average volume of 1,991,978. The company has a quick ratio of 1.35, a current ratio of 1.35 and a debt-to-equity ratio of 0.28. Rexford Industrial Realty, Inc. has a 12-month low of $41.56 and a 12-month high of $58.02. The company has a market capitalization of $9.31 billion, a P/E ratio of 39.00, a PEG ratio of 1.85 and a beta of 0.86. The stock's 50 day simple moving average is $50.42 and its 200-day simple moving average is $50.63.

Rexford Industrial Realty (NYSE:REXR - Get Free Report) last issued its quarterly earnings data on Thursday, April 18th. The real estate investment trust reported $0.27 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.57 by ($0.30). The business had revenue of $214.10 million during the quarter, compared to analysts' expectations of $207.39 million. Rexford Industrial Realty had a return on equity of 3.10% and a net margin of 28.84%. The company's quarterly revenue was up 15.0% on a year-over-year basis. During the same quarter last year, the business posted $0.52 EPS. As a group, equities analysts predict that Rexford Industrial Realty, Inc. will post 2.35 earnings per share for the current fiscal year.

Rexford Industrial Realty Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Friday, June 28th will be issued a $0.417 dividend. The ex-dividend date of this dividend is Friday, June 28th. This represents a $1.67 annualized dividend and a dividend yield of 3.90%. Rexford Industrial Realty's dividend payout ratio is currently 153.21%.

About Rexford Industrial Realty

Rexford Industrial creates value by investing in, operating and redeveloping industrial properties throughout infill Southern California, the world's fourth largest industrial market and consistently the highest-demand with lowest-supply major market in the nation. The Company's highly differentiated strategy enables internal and external growth opportunities through its proprietary value creation and asset management capabilities.