Oak Thistle LLC Sells 18,328 Shares of Rexford Industrial Realty, Inc. (NYSE:REXR)

Oak Thistle LLC decreased its position in Rexford Industrial Realty, Inc. (NYSE:REXR) by 66.4% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,263 shares of the real estate investment trust’s stock after selling 18,328 shares during the quarter. Oak Thistle LLC’s holdings in Rexford Industrial Realty were worth $466,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also bought and sold shares of REXR. GAMMA Investing LLC purchased a new stake in shares of Rexford Industrial Realty in the 4th quarter valued at $41,000. Quarry LP boosted its stake in shares of Rexford Industrial Realty by 195.8% during the fourth quarter. Quarry LP now owns 1,118 shares of the real estate investment trust’s stock valued at $63,000 after purchasing an additional 740 shares during the period. Principal Securities Inc. purchased a new stake in shares of Rexford Industrial Realty during the fourth quarter valued at approximately $96,000. International Assets Investment Management LLC grew its holdings in shares of Rexford Industrial Realty by 5,510.9% in 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 purchasing an additional 3,031 shares during the last quarter. Finally, Cetera Trust Company N.A purchased a new position in shares of Rexford Industrial Realty in the fourth quarter worth $189,000. Hedge funds and other institutional investors own 99.52% of the company’s stock.

Rexford Industrial Realty Price Performance

Shares of REXR stock opened at $44.42 on Tuesday. The company has a quick ratio of 3.21, a current ratio of 3.21 and a debt-to-equity ratio of 0.41. The stock has a market cap of $9.68 billion, a price-to-earnings ratio of 40.75, a PEG ratio of 1.80 and a beta of 0.92. The business’s fifty day moving average is $44.48 and its 200 day moving average is $49.50. Rexford Industrial Realty, Inc. has a twelve month low of $41.56 and a twelve month high of $58.02.

Rexford Industrial Realty (NYSE:REXR) last released its earnings results on Thursday, April 18th. The real estate investment trust reported $0.27 earnings per share 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 business 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 earned $0.52 earnings per share. The firm’s quarterly revenue was up 15.0% compared to the same quarter last year. Research analysts expect that Rexford Industrial Realty, Inc. will post 2.34 EPS for the current fiscal year.

Rexford Industrial Realty Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Friday, June 28th will be issued a dividend of $0.417 per share. The ex-dividend date is Friday, June 28th. This represents a $1.67 annualized dividend and a dividend yield of 3.76%. Rexford Industrial Realty’s payout ratio is 153.21%.

Analysts Set New Price Targets

A number of brokerages have issued reports on REXR. Wedbush began coverage on shares of Rexford Industrial Realty in a report on Monday, April 22nd. They issued a “neutral” rating and a $45.00 price target on the stock. Robert W. Baird cut their target price on Rexford Industrial Realty from $57.00 to $49.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 1st. Scotiabank lowered their price target on Rexford Industrial Realty from $55.00 to $51.00 and set a “sector outperform” rating for the company in a research report on Thursday, May 16th. Truist Financial cut their price objective on Rexford Industrial Realty from $53.00 to $50.00 and set a “buy” rating on the stock in a research report on Thursday, May 2nd. Finally, Mizuho decreased their target price on Rexford Industrial Realty from $52.00 to $50.00 and set a “neutral” rating for the company in a report on Friday, May 31st. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $52.44.

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.