Swiss National Bank Decreases Stake in Rexford Industrial Realty, Inc. (NYSE:REXR)

Swiss National Bank cut its holdings in Rexford Industrial Realty, Inc. (NYSE:REXR - Free Report) by 8.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 406,316 shares of the real estate investment trust's stock after selling 35,500 shares during the period. Swiss National Bank owned about 0.19% of Rexford Industrial Realty worth $22,794,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Commonwealth Equity Services LLC raised its position in Rexford Industrial Realty by 4.4% in the third quarter. Commonwealth Equity Services LLC now owns 124,449 shares of the real estate investment trust's stock worth $6,142,000 after acquiring an additional 5,207 shares during the period. Bank of New York Mellon Corp lifted its stake in Rexford Industrial Realty by 0.4% in the third quarter. Bank of New York Mellon Corp now owns 2,034,769 shares of the real estate investment trust's stock valued at $100,416,000 after purchasing an additional 8,238 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Rexford Industrial Realty by 8.8% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 82,783 shares of the real estate investment trust's stock valued at $4,085,000 after purchasing an additional 6,688 shares during the period. Park Avenue Securities LLC purchased a new stake in Rexford Industrial Realty in the third quarter worth $245,000. Finally, Assetmark Inc. raised its stake in shares of Rexford Industrial Realty by 13.9% in the third quarter. Assetmark Inc. now owns 4,016 shares of the real estate investment trust's stock valued at $198,000 after buying an additional 489 shares during the period. 99.52% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on REXR. Barclays increased their price target on Rexford Industrial Realty from $45.00 to $46.00 and gave the stock an "underweight" rating in a research note on Tuesday, April 23rd. Mizuho restated a "neutral" rating and set a $52.00 price target on shares of Rexford Industrial Realty in a research note on Tuesday, April 2nd. Truist Financial reduced their price objective on shares of Rexford Industrial Realty from $53.00 to $50.00 and set a "buy" rating for the company in a research note on Thursday, May 2nd. TheStreet upgraded Rexford Industrial Realty from a "c+" rating to a "b-" rating in a research report on Thursday, February 1st. Finally, Wedbush started coverage on Rexford Industrial Realty in a research report on Monday, April 22nd. They issued a "neutral" rating and a $45.00 price target for the company. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat, Rexford Industrial Realty currently has an average rating of "Hold" and an average price target of $53.36.

Insider Activity at Rexford Industrial Realty

In other Rexford Industrial Realty news, General Counsel David E. Lanzer sold 18,113 shares of the business'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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 1.20% of the stock is owned by insiders.

Rexford Industrial Realty Price Performance

NYSE:REXR traded up $0.38 during midday trading on Thursday, hitting $45.28. The company had a trading volume of 1,013,560 shares, compared to its average volume of 1,936,556. The stock's fifty day moving average price is $47.90 and its 200-day moving average price is $50.19. Rexford Industrial Realty, Inc. has a 52-week low of $41.56 and a 52-week high of $58.02. The company has a quick ratio of 3.21, a current ratio of 3.21 and a debt-to-equity ratio of 0.41. The company has a market capitalization of $9.86 billion, a PE ratio of 41.54, a P/E/G ratio of 1.94 and a beta of 0.89.

Rexford Industrial Realty (NYSE:REXR - Get Free Report) last announced its quarterly earnings data on Thursday, April 18th. The real estate investment trust reported $0.27 earnings per share for the quarter, missing analysts' consensus estimates of $0.57 by ($0.30). The firm had revenue of $214.10 million for the quarter, compared to analysts' expectations of $207.39 million. Rexford Industrial Realty had a net margin of 28.84% and a return on equity of 3.04%. The business's quarterly revenue was up 15.0% on a year-over-year basis. During the same period in the prior year, the business posted $0.52 earnings per share. As a group, research analysts expect that Rexford Industrial Realty, Inc. will post 2.34 earnings per share for the current year.

Rexford Industrial Realty Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Friday, June 28th will be paid a $0.417 dividend. The ex-dividend date of this dividend is Friday, June 28th. This represents a $1.67 dividend on an annualized basis and a dividend yield of 3.68%. Rexford Industrial Realty's dividend payout ratio (DPR) is 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.