Rexford Industrial Realty, Inc. (NYSE:REXR) Shares Sold by Spirit of America Management Corp NY

Spirit of America Management Corp NY decreased its position in Rexford Industrial Realty, Inc. (NYSE:REXR) by 19.4% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,500 shares of the real estate investment trust’s stock after selling 3,500 shares during the period. Spirit of America Management Corp NY’s holdings in Rexford Industrial Realty were worth $729,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also added to or reduced their stakes in the company. Massmutual Trust Co. FSB ADV raised its stake in shares of Rexford Industrial Realty by 169.4% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 555 shares of the real estate investment trust’s stock valued at $25,000 after buying an additional 349 shares during the last quarter. V Square Quantitative Management LLC purchased a new position in Rexford Industrial Realty during the second quarter valued at approximately $26,000. UMB Bank n.a. raised its position in Rexford Industrial Realty by 164.3% during the third quarter. UMB Bank n.a. now owns 719 shares of the real estate investment trust’s stock valued at $36,000 after acquiring an additional 447 shares in the last quarter. Headlands Technologies LLC purchased a new stake in Rexford Industrial Realty in the 2nd quarter worth approximately $41,000. Finally, EverSource Wealth Advisors LLC grew its stake in shares of Rexford Industrial Realty by 1,252.2% during the 1st quarter. EverSource Wealth Advisors LLC now owns 933 shares of the real estate investment trust’s stock worth $47,000 after purchasing an additional 864 shares during the period. Hedge funds and other institutional investors own 99.52% of the company’s stock.

Rexford Industrial Realty Stock Performance

Shares of NYSE:REXR opened at $44.58 on Friday. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.20 and a quick ratio of 1.73. 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 $9.71 billion, a PE ratio of 40.90, a P/E/G ratio of 2.13 and a beta of 0.93. The business’s 50 day moving average price is $49.50 and its 200-day moving average price is $47.24.

Rexford Industrial Realty (NYSE:REXR) last announced its earnings results on Wednesday, October 16th. The real estate investment trust reported $0.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.58 by ($0.28). The business had revenue of $241.84 million for the quarter, compared to analyst estimates of $235.81 million. Rexford Industrial Realty had a return on equity of 3.35% and a net margin of 30.40%. The company’s revenue for the quarter was up 17.7% compared to the same quarter last year. During the same period last year, the firm earned $0.56 EPS. As a group, equities research analysts expect that Rexford Industrial Realty, Inc. will post 2.34 earnings per share for the current fiscal year.

Rexford Industrial Realty Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be issued a $0.4175 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $1.67 dividend on an annualized basis and a yield of 3.75%. Rexford Industrial Realty’s payout ratio is 153.21%.

Insiders Place Their Bets

In related 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 value of $711,377.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.20% of the company’s stock.

Wall Street Analysts Forecast Growth

REXR has been the topic of a number of recent analyst reports. Wells Fargo & Company lowered their price target on shares of Rexford Industrial Realty from $66.00 to $61.00 and set an “overweight” rating on the stock in a report on Wednesday, August 28th. Industrial Alliance Securities set a $55.00 target price on shares of Rexford Industrial Realty in a research note on Friday, October 18th. Mizuho cut their price target on Rexford Industrial Realty from $50.00 to $49.00 and set a “neutral” rating for the company in a research note on Thursday, September 5th. JPMorgan Chase & Co. increased their price target on Rexford Industrial Realty from $47.00 to $52.00 and gave the stock a “neutral” rating in a research report on Thursday, July 25th. Finally, Bank of America downgraded Rexford Industrial Realty from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $66.00 to $49.00 in a research note on Monday. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, Rexford Industrial Realty currently has an average rating of “Hold” and a consensus target price of $52.09.

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.