Duff & Phelps Investment Management Co. Cuts Stake in Rexford Industrial Realty, Inc. (NYSE:REXR)

Duff & Phelps Investment Management Co. lessened its stake in shares of Rexford Industrial Realty, Inc. (NYSE:REXR) by 0.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,978,283 shares of the real estate investment trust’s stock after selling 3,600 shares during the period. Rexford Industrial Realty makes up about 1.3% of Duff & Phelps Investment Management Co.’s portfolio, making the stock its 24th biggest position. Duff & Phelps Investment Management Co. owned approximately 0.94% of Rexford Industrial Realty worth $110,982,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently modified their holdings of REXR. GAMMA Investing LLC purchased a new stake in Rexford Industrial Realty during the 4th quarter valued at about $41,000. Fifth Third Bancorp grew its position in shares of Rexford Industrial Realty by 58.2% in the 3rd quarter. Fifth Third Bancorp now owns 1,117 shares of the real estate investment trust’s stock valued at $55,000 after buying an additional 411 shares during the last quarter. Ninepoint Partners LP purchased a new stake in shares of Rexford Industrial Realty in the 3rd quarter valued at about $108,000. Signaturefd LLC grew its position in shares of Rexford Industrial Realty by 45.9% during the third quarter. Signaturefd LLC now owns 2,270 shares of the real estate investment trust’s stock worth $112,000 after acquiring an additional 714 shares during the last quarter. Finally, International Assets Investment Management LLC grew its holdings in shares of Rexford Industrial Realty by 5,510.9% during the fourth quarter. International Assets Investment Management LLC now owns 3,086 shares of the real estate investment trust’s stock worth $173,000 after buying an additional 3,031 shares during the last quarter. 99.52% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

REXR has been the topic of a number of analyst reports. Wedbush initiated coverage on Rexford Industrial Realty in a report on Monday, April 22nd. They issued a “neutral” rating and a $45.00 price objective on the stock. Truist Financial cut their target price 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, April 16th. Barclays increased their target price on Rexford Industrial Realty from $45.00 to $46.00 and gave the stock an “underweight” rating in a research report on Tuesday, April 23rd. Mizuho reiterated a “neutral” rating and set a $52.00 target price on shares of Rexford Industrial Realty in a report on Tuesday, April 2nd. Finally, JPMorgan Chase & Co. lowered Rexford Industrial Realty from an “overweight” rating to a “neutral” rating and set a $55.00 price objective for the company. in a report on Wednesday, February 7th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $54.73.

Insider Buying and Selling at Rexford Industrial Realty

In other Rexford Industrial Realty news, General Counsel David E. Lanzer sold 18,113 shares of the business’s stock in a transaction that occurred on Monday, February 12th. The stock was 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. Insiders own 1.10% of the company’s stock.

Rexford Industrial Realty Price Performance

NYSE REXR traded down $0.33 during trading hours on Tuesday, hitting $43.06. The company had a trading volume of 328,114 shares, compared to its average volume of 1,956,843. The firm has a market capitalization of $9.38 billion, a price-to-earnings ratio of 39.82, a PEG ratio of 1.90 and a beta of 0.86. The company has a debt-to-equity ratio of 0.41, a quick ratio of 3.21 and a current ratio of 3.21. Rexford Industrial Realty, Inc. has a 52 week low of $41.56 and a 52 week high of $58.02. The firm has a 50 day simple moving average of $49.11 and a 200 day simple moving average of $50.40.

Rexford Industrial Realty (NYSE:REXR) last released its 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). Rexford Industrial Realty had a return on equity of 3.04% and a net margin of 28.84%. The company had revenue of $214.10 million during the quarter, compared to analysts’ expectations of $207.39 million. During the same period in the prior year, the company posted $0.52 earnings per share. The company’s revenue was up 15.0% on a year-over-year basis. Equities research analysts expect 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 disclosed a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Friday, June 28th will be issued a dividend of $0.417 per share. The ex-dividend date of this dividend is Friday, June 28th. This represents a $1.67 annualized dividend and a yield of 3.87%. Rexford Industrial Realty’s payout ratio is currently 153.21%.

Rexford Industrial Realty Profile

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.