Twin Capital Management Inc. Sells 513 Shares of Rexford Industrial Realty, Inc. (NYSE:REXR)

Twin Capital Management Inc. lowered its position in shares of Rexford Industrial Realty, Inc. (NYSE:REXR) by 3.7% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 13,332 shares of the real estate investment trust’s stock after selling 513 shares during the quarter. Twin Capital Management Inc.’s holdings in Rexford Industrial Realty were worth $748,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of REXR. Norges Bank bought a new position in shares of Rexford Industrial Realty during the 4th quarter worth approximately $283,319,000. Price T Rowe Associates Inc. MD lifted its position in shares of Rexford Industrial Realty by 64.9% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 10,432,222 shares of the real estate investment trust’s stock worth $570,016,000 after buying an additional 4,107,405 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Rexford Industrial Realty by 7.5% during the 1st quarter. Vanguard Group Inc. now owns 22,698,814 shares of the real estate investment trust’s stock worth $1,693,104,000 after buying an additional 1,587,612 shares in the last quarter. State Street Corp increased its stake in shares of Rexford Industrial Realty by 19.0% during the 1st quarter. State Street Corp now owns 8,626,789 shares of the real estate investment trust’s stock worth $646,126,000 after purchasing an additional 1,375,680 shares during the last quarter. Finally, Deutsche Bank AG increased its stake in shares of Rexford Industrial Realty by 61.0% during the 1st quarter. Deutsche Bank AG now owns 2,573,212 shares of the real estate investment trust’s stock worth $153,492,000 after purchasing an additional 974,709 shares during the last quarter. Institutional investors own 99.52% of the company’s stock.

Insider Activity

In other news, General Counsel David E. Lanzer sold 18,113 shares of the business’s stock in a transaction on 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 through the SEC website. Company insiders own 1.10% of the company’s stock.

Rexford Industrial Realty Stock Down 1.0 %

Rexford Industrial Realty stock opened at $42.74 on Friday. Rexford Industrial Realty, Inc. has a 1-year low of $41.56 and a 1-year high of $58.02. The firm has a market capitalization of $9.31 billion, a price-to-earnings ratio of 39.21, a P/E/G ratio of 1.91 and a beta of 0.86. The company has a current ratio of 3.21, a quick ratio of 1.35 and a debt-to-equity ratio of 0.41. The firm has a 50 day simple moving average of $50.42 and a 200 day simple moving average of $50.63.

Rexford Industrial Realty (NYSE:REXR) last released its quarterly earnings results on Thursday, April 18th. The real estate investment trust reported $0.27 EPS for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.30). The firm had revenue of $214.10 million for the quarter, compared to analysts’ expectations of $207.39 million. Rexford Industrial Realty had a net margin of 28.84% and a return on equity of 3.04%. The firm’s revenue for the quarter was up 15.0% on a year-over-year basis. During the same quarter last year, the firm earned $0.52 earnings per share. On average, analysts predict that Rexford Industrial Realty, Inc. will post 2.33 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. Stockholders 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 dividend on an annualized basis and a dividend yield of 3.90%. Rexford Industrial Realty’s dividend payout ratio (DPR) is currently 153.21%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. Barclays assumed coverage on shares of Rexford Industrial Realty in a research note on Wednesday, March 27th. They set an “underweight” rating and a $45.00 price target for the company. TheStreet upgraded shares of Rexford Industrial Realty from a “c+” rating to a “b-” rating in a research note on Thursday, February 1st. Robert W. Baird restated a “neutral” rating and set a $61.00 price target (up previously from $53.00) on shares of Rexford Industrial Realty in a research note on Friday, January 5th. Truist Financial decreased their price target on shares of Rexford Industrial Realty from $57.00 to $53.00 and set a “buy” rating for the company in a research note on Tuesday. Finally, JPMorgan Chase & Co. lowered shares of Rexford Industrial Realty from an “overweight” rating to a “neutral” rating and set a $55.00 price target for the company. in a research note on Wednesday, February 7th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, Rexford Industrial Realty currently has a consensus rating of “Hold” and an average price target of $55.60.

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.