Rexford Industrial Realty, Inc. (NYSE:REXR) Shares Sold by Victory Capital Management Inc.

Victory Capital Management Inc. cut its holdings in Rexford Industrial Realty, Inc. (NYSE:REXR) by 6.5% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 43,069 shares of the real estate investment trust’s stock after selling 2,997 shares during the period. Victory Capital Management Inc.’s holdings in Rexford Industrial Realty were worth $2,167,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. M&G Plc raised its stake in shares of Rexford Industrial Realty by 12.2% in the second quarter. M&G Plc now owns 754,952 shares of the real estate investment trust’s stock valued at $33,973,000 after acquiring an additional 82,078 shares in the last quarter. DekaBank Deutsche Girozentrale raised its stake in shares of Rexford Industrial Realty by 23.8% during the first quarter. DekaBank Deutsche Girozentrale now owns 62,445 shares of the real estate investment trust’s stock worth $3,089,000 after purchasing an additional 12,006 shares during the last quarter. SG Americas Securities LLC lifted its holdings in shares of Rexford Industrial Realty by 61.4% during the second quarter. SG Americas Securities LLC now owns 50,822 shares of the real estate investment trust’s stock worth $2,266,000 after purchasing an additional 19,340 shares during the period. Asset Management One Co. Ltd. grew its position in Rexford Industrial Realty by 15.8% in the 3rd quarter. Asset Management One Co. Ltd. now owns 471,682 shares of the real estate investment trust’s stock valued at $23,730,000 after buying an additional 64,264 shares during the last quarter. Finally, PGGM Investments increased its stake in Rexford Industrial Realty by 16.5% in the 2nd quarter. PGGM Investments now owns 2,833,520 shares of the real estate investment trust’s stock valued at $126,347,000 after buying an additional 401,593 shares during the period. 99.52% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Scotiabank lowered shares of Rexford Industrial Realty from a “sector outperform” rating to a “sector perform” rating and decreased their target price for the stock from $55.00 to $48.00 in a research report on Friday, October 25th. Wells Fargo & Company dropped their price target on Rexford Industrial Realty from $66.00 to $61.00 and set an “overweight” rating for the company in a research report on Wednesday, August 28th. Industrial Alliance Securities set a $55.00 price objective on shares of Rexford Industrial Realty in a research report on Friday, October 18th. Evercore ISI restated an “outperform” rating on shares of Rexford Industrial Realty in a report on Friday, October 18th. Finally, StockNews.com lowered shares of Rexford Industrial Realty from a “hold” rating to a “sell” rating in a research report on Monday, October 21st. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $51.09.

Insider Activity

In other news, CFO Laura E. Clark sold 14,185 shares of the firm’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $50.15, for a total value of $711,377.75. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 1.20% of the company’s stock.

Rexford Industrial Realty Price Performance

REXR stock opened at $42.08 on Monday. The stock has a market capitalization of $9.36 billion, a price-to-earnings ratio of 34.21, a price-to-earnings-growth ratio of 1.99 and a beta of 0.94. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 0.40. Rexford Industrial Realty, Inc. has a 52-week low of $41.16 and a 52-week high of $58.02. The stock’s fifty day simple moving average is $46.16 and its 200-day simple moving average is $47.00.

Rexford Industrial Realty (NYSE:REXR) last posted its quarterly earnings results 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). The business had revenue of $241.84 million during the quarter, compared to analysts’ expectations of $235.81 million. Rexford Industrial Realty had a net margin of 30.40% and a return on equity of 3.35%. The firm’s quarterly revenue was up 17.7% compared to the same quarter last year. During the same quarter last year, the firm earned $0.56 EPS. Equities research analysts expect that Rexford Industrial Realty, Inc. will post 2.34 EPS for the current year.

Rexford Industrial Realty Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be issued a $0.4175 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $1.67 dividend on an annualized basis and a dividend yield of 3.97%. 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.