Landscape Capital Management L.L.C. Reduces Stock Holdings in Rexford Industrial Realty, Inc. (NYSE:REXR)

Landscape Capital Management L.L.C. trimmed its position in Rexford Industrial Realty, Inc. (NYSE:REXR) by 8.5% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 4,632 shares of the real estate investment trust’s stock after selling 431 shares during the period. Landscape Capital Management L.L.C.’s holdings in Rexford Industrial Realty were worth $233,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the company. M&G Plc lifted its position in shares of Rexford Industrial Realty by 12.2% during the 2nd quarter. M&G Plc now owns 754,952 shares of the real estate investment trust’s stock valued at $33,973,000 after buying an additional 82,078 shares in the last quarter. DekaBank Deutsche Girozentrale lifted its position in shares of Rexford Industrial Realty by 23.8% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 62,445 shares of the real estate investment trust’s stock valued at $3,089,000 after buying an additional 12,006 shares in the last quarter. SG Americas Securities LLC lifted its position in shares of Rexford Industrial Realty by 61.4% during the 2nd quarter. SG Americas Securities LLC now owns 50,822 shares of the real estate investment trust’s stock valued at $2,266,000 after buying an additional 19,340 shares in the last quarter. Asset Management One Co. Ltd. lifted its position in shares of Rexford Industrial Realty by 15.8% during 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 in the last quarter. Finally, PGGM Investments lifted its position in shares of Rexford Industrial Realty by 16.5% during 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 in the last quarter. 99.52% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on REXR. Scotiabank cut Rexford Industrial Realty from a “sector outperform” rating to a “sector perform” rating and lowered their price objective for the company from $55.00 to $48.00 in a research report on Friday, October 25th. Evercore ISI reaffirmed an “outperform” rating on shares of Rexford Industrial Realty in a research report on Friday, October 18th. Wells Fargo & Company decreased their target price on Rexford Industrial Realty from $66.00 to $61.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 28th. StockNews.com downgraded Rexford Industrial Realty from a “hold” rating to a “sell” rating in a research note on Monday, October 21st. Finally, Truist Financial decreased their target price on Rexford Industrial Realty from $54.00 to $50.00 and set a “buy” rating on the stock in a research note on Tuesday, November 12th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $51.09.

Rexford Industrial Realty Stock Performance

NYSE:REXR opened at $42.88 on Tuesday. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.20 and a quick ratio of 1.20. Rexford Industrial Realty, Inc. has a 1 year low of $41.16 and a 1 year high of $58.02. The stock’s 50 day simple moving average is $46.16 and its two-hundred day simple moving average is $47.01. The company has a market cap of $9.54 billion, a price-to-earnings ratio of 34.86, a PEG ratio of 1.99 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 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.28). The firm had revenue of $241.84 million during the quarter, compared to the consensus estimate of $235.81 million. Rexford Industrial Realty had a return on equity of 3.35% and a net margin of 30.40%. The business’s revenue was up 17.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.56 EPS. As a group, equities analysts anticipate that Rexford Industrial Realty, Inc. will post 2.34 earnings per share for the current fiscal year.

Rexford Industrial Realty Dividend Announcement

The business 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. This represents a $1.67 annualized dividend and a dividend yield of 3.89%. The ex-dividend date is Tuesday, December 31st. Rexford Industrial Realty’s dividend payout ratio is currently 135.77%.

Insider Activity

In other news, CFO Laura E. Clark sold 14,185 shares of the business’s 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 transaction 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 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.