Whittier Trust Co. of Nevada Inc. reduced its stake in shares of Rexford Industrial Realty, Inc. (NYSE:REXR – Free Report) by 68.1% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 55,277 shares of the real estate investment trust’s stock after selling 118,117 shares during the period. Whittier Trust Co. of Nevada Inc.’s holdings in Rexford Industrial Realty were worth $1,798,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also made changes to their positions in the company. V Square Quantitative Management LLC purchased a new position in Rexford Industrial Realty in the fourth quarter valued at about $31,000. Wiser Advisor Group LLC purchased a new stake in shares of Rexford Industrial Realty during the 3rd quarter worth approximately $34,000. Fideuram Intesa Sanpaolo Private Banking S.P.A. purchased a new stake in shares of Rexford Industrial Realty during the 4th quarter worth approximately $34,000. Allworth Financial LP grew its holdings in shares of Rexford Industrial Realty by 140.3% in the 3rd quarter. Allworth Financial LP now owns 983 shares of the real estate investment trust’s stock worth $40,000 after acquiring an additional 574 shares during the period. Finally, Los Angeles Capital Management LLC acquired a new stake in shares of Rexford Industrial Realty in the 4th quarter worth approximately $45,000. 99.52% of the stock is owned by institutional investors and hedge funds.
Rexford Industrial Realty Price Performance
Shares of Rexford Industrial Realty stock traded up $0.79 during trading on Tuesday, hitting $35.05. 198,105 shares of the company were exchanged, compared to its average volume of 2,516,646. The company has a quick ratio of 1.50, a current ratio of 1.50 and a debt-to-equity ratio of 0.38. Rexford Industrial Realty, Inc. has a fifty-two week low of $32.14 and a fifty-two week high of $44.38. The stock has a market capitalization of $7.91 billion, a price-to-earnings ratio of 37.69, a P/E/G ratio of 1.43 and a beta of 1.21. The firm has a 50 day moving average price of $34.88 and a 200 day moving average price of $36.50.
Rexford Industrial Realty Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th will be paid a dividend of $0.435 per share. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $1.74 dividend on an annualized basis and a dividend yield of 5.0%. Rexford Industrial Realty’s dividend payout ratio (DPR) is presently 187.10%.
Analysts Set New Price Targets
Several equities analysts recently issued reports on the company. Truist Financial reduced their price objective on Rexford Industrial Realty from $40.00 to $38.00 and set a “buy” rating for the company in a report on Thursday, May 21st. Zacks Research raised Rexford Industrial Realty from a “strong sell” rating to a “hold” rating in a report on Tuesday, April 28th. Wells Fargo & Company dropped their price target on Rexford Industrial Realty from $45.00 to $44.00 and set an “overweight” rating for the company in a research report on Monday, June 1st. Wall Street Zen downgraded Rexford Industrial Realty from a “hold” rating to a “sell” rating in a research note on Saturday. Finally, Raymond James Financial initiated coverage on shares of Rexford Industrial Realty in a research report on Wednesday, June 17th. They issued an “underperform” rating on the stock. Five equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $40.62.
Get Our Latest Stock Report on REXR
Insider Activity at Rexford Industrial Realty
In other Rexford Industrial Realty news, General Counsel David E. Lanzer sold 33,299 shares of the firm’s stock in a transaction dated Tuesday, April 28th. The shares were sold at an average price of $35.47, for a total transaction of $1,181,115.53. Following the sale, the general counsel directly owned 33,299 shares of the company’s stock, valued at $1,181,115.53. This trade represents a 50.00% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 1.80% of the stock is currently owned by insiders.
Rexford Industrial Realty Company Profile
Rexford Industrial Realty, Inc (NYSE: REXR) is a real estate investment trust (REIT) specializing in the acquisition, ownership and operation of industrial properties in Southern California. The company’s portfolio is concentrated in infill locations across key supply-chain markets, where it targets modern distribution centers, logistics facilities and light manufacturing spaces. Rexford’s strategy emphasizes buildings that offer proximity to major transportation routes and labor pools, catering to tenants in e-commerce, third-party logistics and manufacturing industries.
Since its founding in 2013, Rexford Industrial Realty has executed a disciplined growth plan driven by property acquisitions, selective development projects and strategic value-add initiatives.
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