Swiss National Bank Sells 35,500 Shares of Rexford Industrial Realty, Inc. (NYSE:REXR)

Swiss National Bank trimmed its holdings in shares of Rexford Industrial Realty, Inc. (NYSE:REXR) by 8.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 406,316 shares of the real estate investment trust’s stock after selling 35,500 shares during the period. Swiss National Bank owned 0.19% of Rexford Industrial Realty worth $22,794,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Massachusetts Financial Services Co. MA lifted its stake in shares of Rexford Industrial Realty by 103.2% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,591,399 shares of the real estate investment trust’s stock valued at $78,536,000 after purchasing an additional 808,134 shares during the period. Schonfeld Strategic Advisors LLC lifted its stake in Rexford Industrial Realty by 267.6% in the third quarter. Schonfeld Strategic Advisors LLC now owns 1,003,426 shares of the real estate investment trust’s stock valued at $49,519,000 after buying an additional 730,424 shares during the period. Kennedy Capital Management LLC boosted its holdings in Rexford Industrial Realty by 191.7% during the third quarter. Kennedy Capital Management LLC now owns 342,487 shares of the real estate investment trust’s stock worth $16,902,000 after buying an additional 225,064 shares during the last quarter. UBS Group AG increased its stake in shares of Rexford Industrial Realty by 240.7% in the 3rd quarter. UBS Group AG now owns 314,157 shares of the real estate investment trust’s stock valued at $15,504,000 after acquiring an additional 221,951 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC raised its position in shares of Rexford Industrial Realty by 15.0% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 1,669,572 shares of the real estate investment trust’s stock valued at $93,663,000 after acquiring an additional 218,055 shares during the period. 99.52% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, General Counsel David E. Lanzer sold 18,113 shares of the firm’s stock in a transaction dated 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 filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.20% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. JPMorgan Chase & Co. downgraded shares of Rexford Industrial Realty from an “overweight” rating to a “neutral” rating and set a $55.00 target price for the company. in a research note on Wednesday, February 7th. Barclays lifted their target price on Rexford Industrial Realty from $45.00 to $46.00 and gave the stock an “underweight” rating in a report on Tuesday, April 23rd. TheStreet upgraded Rexford Industrial Realty from a “c+” rating to a “b-” rating in a report on Thursday, February 1st. Robert W. Baird decreased their price objective on Rexford Industrial Realty from $57.00 to $49.00 and set a “neutral” rating for the company in a research report on Wednesday, May 1st. Finally, Mizuho restated a “neutral” rating and set a $52.00 target price on shares of Rexford Industrial Realty in a report on Tuesday, April 2nd. 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 stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $53.36.

Rexford Industrial Realty Stock Down 0.4 %

Shares of REXR stock opened at $44.92 on Thursday. The firm’s fifty day moving average price is $48.01 and its two-hundred day moving average price is $50.22. Rexford Industrial Realty, Inc. has a 1 year low of $41.56 and a 1 year 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. The firm has a market capitalization of $9.78 billion, a P/E ratio of 41.21, a PEG ratio of 1.94 and a beta of 0.89.

Rexford Industrial Realty (NYSE:REXR) last released its 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). The company had revenue of $214.10 million for 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%. The business’s revenue was up 15.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.52 EPS. On average, equities analysts predict that Rexford Industrial Realty, Inc. will post 2.34 EPS for the current fiscal year.

Rexford Industrial Realty Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Investors 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 annualized dividend and a dividend yield of 3.71%. Rexford Industrial Realty’s dividend payout ratio is presently 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.