First Heartland Consultants Inc. Lowers Position in Rexford Industrial Realty, Inc. (NYSE:REXR)

First Heartland Consultants Inc. cut its holdings in Rexford Industrial Realty, Inc. (NYSE:REXR) by 79.0% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 5,311 shares of the real estate investment trust’s stock after selling 19,991 shares during the quarter. First Heartland Consultants Inc.’s holdings in Rexford Industrial Realty were worth $267,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in REXR. Fulton Bank N.A. raised its holdings in Rexford Industrial Realty by 4.7% in the third quarter. Fulton Bank N.A. now owns 5,038 shares of the real estate investment trust’s stock worth $253,000 after purchasing an additional 224 shares in the last quarter. Inspire Investing LLC increased its holdings in shares of Rexford Industrial Realty by 4.9% during the first quarter. Inspire Investing LLC now owns 7,126 shares of the real estate investment trust’s stock valued at $358,000 after acquiring an additional 331 shares in the last quarter. Hennion & Walsh Asset Management Inc. increased its holdings in shares of Rexford Industrial Realty by 2.4% during the second quarter. Hennion & Walsh Asset Management Inc. now owns 14,641 shares of the real estate investment trust’s stock valued at $653,000 after acquiring an additional 337 shares in the last quarter. Victory Capital Management Inc. increased its holdings in shares of Rexford Industrial Realty by 0.8% during the second quarter. Victory Capital Management Inc. now owns 46,066 shares of the real estate investment trust’s stock valued at $2,054,000 after acquiring an additional 345 shares in the last quarter. Finally, Massmutual Trust Co. FSB ADV increased its holdings in shares of Rexford Industrial Realty by 169.4% during the second quarter. Massmutual Trust Co. FSB ADV now owns 555 shares of the real estate investment trust’s stock valued at $25,000 after acquiring an additional 349 shares in the last quarter. 99.52% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, CFO Laura E. Clark sold 14,185 shares of the stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $50.15, for a total transaction of $711,377.75. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 1.20% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the stock. Truist Financial cut their price objective on shares of Rexford Industrial Realty from $54.00 to $50.00 and set a “buy” rating on the stock in a report on Tuesday. Scotiabank downgraded shares of Rexford Industrial Realty from a “sector outperform” rating to a “sector perform” rating and cut their price objective for the company from $55.00 to $48.00 in a report on Friday, October 25th. Industrial Alliance Securities set a $55.00 price objective on shares of Rexford Industrial Realty in a report on Friday, October 18th. Mizuho cut their price target on shares of Rexford Industrial Realty from $50.00 to $49.00 and set a “neutral” rating on the stock in a report on Thursday, September 5th. Finally, JPMorgan Chase & Co. increased their price target on shares of Rexford Industrial Realty from $47.00 to $52.00 and gave the stock a “neutral” rating in a report on Thursday, July 25th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $51.09.

Rexford Industrial Realty Trading Up 1.0 %

Rexford Industrial Realty stock opened at $41.83 on Thursday. The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 0.40. Rexford Industrial Realty, Inc. has a 12 month low of $41.36 and a 12 month high of $58.02. The stock’s 50 day simple moving average is $47.24 and its two-hundred day simple moving average is $47.07. The firm has a market cap of $9.30 billion, a PE ratio of 34.01, a P/E/G ratio of 1.98 and a beta of 0.94.

Rexford Industrial Realty (NYSE:REXR) last released its quarterly earnings data on Wednesday, October 16th. The real estate investment trust reported $0.30 EPS for the quarter, missing the consensus estimate of $0.58 by ($0.28). Rexford Industrial Realty had a return on equity of 3.35% and a net margin of 30.40%. The company had revenue of $241.84 million during the quarter, compared to analysts’ expectations of $235.81 million. During the same quarter in the prior year, the company posted $0.56 EPS. The company’s revenue for the quarter was up 17.7% on a year-over-year basis. Analysts anticipate that Rexford Industrial Realty, Inc. will post 2.34 earnings per share for the current year.

Rexford Industrial Realty Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be given a dividend of $0.4175 per share. The ex-dividend date is Tuesday, December 31st. This represents a $1.67 dividend on an annualized basis and a dividend yield of 3.99%. Rexford Industrial Realty’s dividend payout ratio (DPR) is 135.77%.

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.