Wells Fargo & Company MN trimmed its position in Rexford Industrial Realty Inc (NYSE:REXR) by 26.4% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 254,117 shares of the real estate investment trust’s stock after selling 91,376 shares during the period. Wells Fargo & Company MN’s holdings in Rexford Industrial Realty were worth $10,259,000 at the end of the most recent quarter.
Several other institutional investors have also recently modified their holdings of the company. Whittier Trust Co. increased its position in shares of Rexford Industrial Realty by 96.5% in the second quarter. Whittier Trust Co. now owns 2,335 shares of the real estate investment trust’s stock valued at $94,000 after acquiring an additional 1,147 shares during the last quarter. NEXT Financial Group Inc increased its position in Rexford Industrial Realty by 58.3% during the second quarter. NEXT Financial Group Inc now owns 2,483 shares of the real estate investment trust’s stock worth $100,000 after buying an additional 914 shares during the last quarter. Stevens Capital Management LP acquired a new position in Rexford Industrial Realty during the first quarter worth approximately $211,000. Centersquare Investment Management LLC increased its position in Rexford Industrial Realty by 68.1% during the first quarter. Centersquare Investment Management LLC now owns 6,150 shares of the real estate investment trust’s stock worth $220,000 after buying an additional 2,491 shares during the last quarter. Finally, Nissay Asset Management Corp Japan ADV acquired a new position in Rexford Industrial Realty during the first quarter worth approximately $250,000. Institutional investors own 99.00% of the company’s stock.
Shares of Rexford Industrial Realty stock traded up $0.55 on Thursday, hitting $43.91. The stock had a trading volume of 9,347 shares, compared to its average volume of 711,426. Rexford Industrial Realty Inc has a twelve month low of $28.17 and a twelve month high of $44.92. The business’s 50 day moving average is $42.77 and its two-hundred day moving average is $39.09. The company has a quick ratio of 7.17, a current ratio of 7.17 and a debt-to-equity ratio of 0.34. The stock has a market cap of $4.83 billion, a price-to-earnings ratio of 39.13, a price-to-earnings-growth ratio of 5.07 and a beta of 0.80.
Rexford Industrial Realty (NYSE:REXR) last issued its quarterly earnings results on Tuesday, July 30th. The real estate investment trust reported $0.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.29 by ($0.17). The company had revenue of $63.60 million during the quarter, compared to the consensus estimate of $63.33 million. Rexford Industrial Realty had a net margin of 21.02% and a return on equity of 2.63%. The company’s quarterly revenue was up 23.3% on a year-over-year basis. During the same quarter last year, the firm posted $0.27 earnings per share. As a group, equities analysts predict that Rexford Industrial Realty Inc will post 1.21 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 30th will be paid a $0.185 dividend. This represents a $0.74 annualized dividend and a dividend yield of 1.69%. The ex-dividend date is Friday, September 27th. Rexford Industrial Realty’s dividend payout ratio (DPR) is currently 66.07%.
In related news, CEO Howard Schwimmer sold 23,600 shares of the business’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $41.70, for a total value of $984,120.00. Following the completion of the sale, the chief executive officer now directly owns 68,958 shares in the company, valued at $2,875,548.60. The sale was disclosed in a filing with the SEC, which is available at this link. Insiders own 1.70% of the company’s stock.
Several research firms have recently commented on REXR. Stifel Nicolaus upped their target price on Rexford Industrial Realty from $41.00 to $46.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Zacks Investment Research downgraded Rexford Industrial Realty from a “buy” rating to a “hold” rating in a research report on Thursday, July 11th. Three investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $42.67.
Rexford Industrial Realty Profile
Rexford Industrial is a real estate investment trust focused on owning and operating industrial properties in Southern California infill markets. The Company owns 179 properties with approximately 22.1 million rentable square feet and manages an additional 20 properties with approximately 1.2 million rentable square feet.
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