Los Angeles Capital Management LLC Sells 83,910 Shares of Rexford Industrial Realty, Inc. (NYSE:REXR)

Los Angeles Capital Management LLC trimmed its stake in Rexford Industrial Realty, Inc. (NYSE:REXR - Free Report) by 90.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 8,955 shares of the real estate investment trust's stock after selling 83,910 shares during the quarter. Los Angeles Capital Management LLC's holdings in Rexford Industrial Realty were worth $502,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in REXR. New York Life Investment Management LLC raised its holdings in Rexford Industrial Realty by 188.9% in the 4th quarter. New York Life Investment Management LLC now owns 92,561 shares of the real estate investment trust's stock valued at $5,193,000 after acquiring an additional 60,517 shares during the last quarter. Victory Capital Management Inc. boosted its position in shares of Rexford Industrial Realty by 19.7% in the fourth quarter. Victory Capital Management Inc. now owns 45,851 shares of the real estate investment trust's stock worth $2,572,000 after acquiring an additional 7,533 shares during the last quarter. Van ECK Associates Corp boosted its position in shares of Rexford Industrial Realty by 15.9% in the fourth quarter. Van ECK Associates Corp now owns 79,137 shares of the real estate investment trust's stock worth $4,440,000 after acquiring an additional 10,828 shares during the last quarter. Retirement Systems of Alabama increased its position in Rexford Industrial Realty by 1.4% during the fourth quarter. Retirement Systems of Alabama now owns 468,787 shares of the real estate investment trust's stock worth $26,299,000 after purchasing an additional 6,621 shares during the last quarter. Finally, Aew Capital Management L P increased its position in Rexford Industrial Realty by 3.6% during the fourth quarter. Aew Capital Management L P now owns 829,798 shares of the real estate investment trust's stock worth $46,552,000 after purchasing an additional 28,679 shares during the last quarter. 99.52% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, General Counsel David E. Lanzer sold 18,113 shares of the company's stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $52.69, for a total transaction of $954,373.97. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 1.20% of the company's stock.

Rexford Industrial Realty Stock Down 0.4 %

REXR stock traded down $0.19 during mid-day trading on Friday, hitting $45.11. 1,030,077 shares of the company were exchanged, compared to its average volume of 2,498,226. The firm has a fifty day simple moving average of $47.76 and a 200 day simple moving average of $50.31. The company has a market capitalization of $9.83 billion, a PE ratio of 41.39, a price-to-earnings-growth ratio of 1.97 and a beta of 0.89. Rexford Industrial Realty, Inc. has a twelve month low of $41.56 and a twelve month high of $58.02. The company has a current ratio of 3.21, a quick ratio of 3.21 and a debt-to-equity ratio of 0.41.

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

Rexford Industrial Realty Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Friday, June 28th will be issued a dividend of $0.417 per share. This represents a $1.67 annualized dividend and a dividend yield of 3.70%. The ex-dividend date of this dividend is Friday, June 28th. Rexford Industrial Realty's dividend payout ratio (DPR) is presently 153.21%.

Analysts Set New Price Targets

Several research analysts recently weighed in on REXR shares. Robert W. Baird cut 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. Truist Financial dropped their target price on shares of Rexford Industrial Realty from $53.00 to $50.00 and set a "buy" rating for the company in a research report on Thursday, May 2nd. JPMorgan Chase & Co. cut shares of Rexford Industrial Realty from an "overweight" rating to a "neutral" rating and set a $55.00 price target on the stock. in a research report on Wednesday, February 7th. Barclays raised their target price on shares of Rexford Industrial Realty from $45.00 to $46.00 and gave the company an "underweight" rating in a research note on Tuesday, April 23rd. Finally, Wedbush started coverage on shares of Rexford Industrial Realty in a research report on Monday, April 22nd. They set a "neutral" rating and a $45.00 price target for the company. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat, Rexford Industrial Realty presently has an average rating of "Hold" and an average target price of $53.36.

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.