Reaves W H & Co. Inc. Sells 325,219 Shares of Rexford Industrial Realty, Inc. (NYSE:REXR)

Reaves W H & Co. Inc. reduced its position in shares of Rexford Industrial Realty, Inc. (NYSE:REXR - Free Report) by 81.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 72,052 shares of the real estate investment trust's stock after selling 325,219 shares during the period. Reaves W H & Co. Inc.'s holdings in Rexford Industrial Realty were worth $4,042,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Commonwealth Equity Services LLC boosted its holdings 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 valued at $6,142,000 after acquiring an additional 5,207 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings 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 acquiring an additional 8,238 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Rexford Industrial Realty by 8.8% in 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 acquiring an additional 6,688 shares during the last quarter. Park Avenue Securities LLC bought a new stake in Rexford Industrial Realty in the third quarter valued at approximately $245,000. Finally, Assetmark Inc. lifted its stake in 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 currently owned by institutional investors.

Rexford Industrial Realty Trading Down 0.4 %

REXR traded down $0.19 on Friday, hitting $45.11. 1,029,831 shares of the company were exchanged, compared to its average volume of 2,699,606. The firm has a fifty day simple moving average of $47.76 and a two-hundred day simple moving average of $50.21. The company has a debt-to-equity ratio of 0.41, a quick ratio of 3.21 and a current ratio of 3.21. Rexford Industrial Realty, Inc. has a 12 month low of $41.56 and a 12 month high of $58.02. The stock has a market capitalization of $9.83 billion, a PE ratio of 41.39, a price-to-earnings-growth ratio of 1.94 and a beta of 0.89.

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 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 the consensus estimate of $207.39 million. Rexford Industrial Realty had a return on equity of 3.04% and a net margin of 28.84%. Rexford Industrial Realty's quarterly revenue was up 15.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.52 earnings per share. Sell-side analysts expect that Rexford Industrial Realty, Inc. will post 2.34 earnings per share for the current year.

Rexford Industrial Realty Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Friday, June 28th will be given a dividend of $0.417 per share. The ex-dividend date is Friday, June 28th. This represents a $1.67 annualized dividend and a dividend yield of 3.70%. Rexford Industrial Realty's dividend payout ratio is presently 153.21%.

Insider Activity at Rexford Industrial Realty

In other Rexford Industrial Realty news, General Counsel David E. Lanzer sold 18,113 shares of Rexford Industrial Realty stock in a transaction on Monday, February 12th. The stock was sold at an average price of $52.69, for a total transaction of $954,373.97. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.20% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on REXR shares. Mizuho reaffirmed a "neutral" rating and set a $52.00 target price on shares of Rexford Industrial Realty in a research report on Tuesday, April 2nd. Robert W. Baird lowered their target price on Rexford Industrial Realty from $57.00 to $49.00 and set a "neutral" rating on the stock in a research report on Wednesday, May 1st. Barclays upped their target price on Rexford Industrial Realty from $45.00 to $46.00 and gave the stock an "underweight" rating in a research report on Tuesday, April 23rd. Truist Financial lowered their target price on Rexford Industrial Realty from $53.00 to $50.00 and set a "buy" rating on the stock in a research report on Thursday, May 2nd. Finally, TheStreet raised Rexford Industrial Realty from a "c+" rating to a "b-" rating in a research report on Thursday, February 1st. Two research analysts have rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat.com, Rexford Industrial Realty presently has an average rating of "Hold" and an average price target of $53.36.

Rexford Industrial Realty Profile

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.

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