Rexford Industrial Realty, Inc. (NYSE:REXR) Shares Sold by Sei Investments Co.

Sei Investments Co. lowered its stake in shares of Rexford Industrial Realty, Inc. (NYSE:REXR) by 5.9% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 540,782 shares of the real estate investment trust’s stock after selling 33,991 shares during the quarter. Sei Investments Co. owned about 0.25% of Rexford Industrial Realty worth $24,113,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of REXR. Tower Research Capital LLC TRC raised its stake in Rexford Industrial Realty by 116.1% during the fourth quarter. Tower Research Capital LLC TRC now owns 46,150 shares of the real estate investment trust’s stock worth $2,589,000 after purchasing an additional 24,793 shares during the period. M&G Plc acquired a new position in Rexford Industrial Realty in the first quarter valued at $33,644,000. First Financial Bank Trust Division purchased a new stake in Rexford Industrial Realty during the first quarter valued at about $2,551,000. Magnetar Financial LLC acquired a new stake in Rexford Industrial Realty during the first quarter worth about $1,671,000. Finally, Vanguard Group Inc. raised its holdings in shares of Rexford Industrial Realty by 2.6% in the 1st quarter. Vanguard Group Inc. now owns 29,734,952 shares of the real estate investment trust’s stock worth $1,495,668,000 after purchasing an additional 753,098 shares during the period. 99.52% of the stock is currently owned by hedge funds and other institutional investors.

Rexford Industrial Realty Price Performance

REXR stock opened at $52.02 on Wednesday. The company has a market capitalization of $11.33 billion, a PE ratio of 47.72, a P/E/G ratio of 2.10 and a beta of 0.93. The company has a quick ratio of 1.73, a current ratio of 1.73 and a debt-to-equity ratio of 0.41. The stock’s 50 day moving average is $50.22 and its two-hundred day moving average is $47.63. Rexford Industrial Realty, Inc. has a 52-week low of $41.56 and a 52-week high of $58.02.

Rexford Industrial Realty (NYSE:REXR) last posted its quarterly earnings results on Wednesday, July 17th. The real estate investment trust reported $0.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.58 by ($0.21). The company had revenue of $237.60 million during the quarter, compared to analyst estimates of $227.70 million. Rexford Industrial Realty had a net margin of 30.71% and a return on equity of 3.31%. The company’s revenue was up 21.3% on a year-over-year basis. During the same period in the prior year, the company earned $0.54 earnings per share. Analysts predict that Rexford Industrial Realty, Inc. will post 2.35 earnings per share for the current fiscal year.

Rexford Industrial Realty Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 30th will be paid a $0.4175 dividend. This represents a $1.67 dividend on an annualized basis and a yield of 3.21%. This is an increase from Rexford Industrial Realty’s previous quarterly dividend of $0.42. The ex-dividend date of this dividend is Monday, September 30th. Rexford Industrial Realty’s dividend payout ratio (DPR) is 153.21%.

Insider Activity at Rexford Industrial Realty

In other Rexford Industrial Realty 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 transaction of $711,377.75. The transaction was disclosed in a filing with the SEC, which is available at this link. In other news, CEO Howard Schwimmer sold 30,358 shares of the firm’s stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $48.86, for a total value of $1,483,291.88. Following the transaction, the chief executive officer now directly owns 50,673 shares in the company, valued at approximately $2,475,882.78. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Laura E. Clark sold 14,185 shares of the business’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $50.15, for a total transaction of $711,377.75. The disclosure for this sale can be found here. 1.20% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. StockNews.com upgraded Rexford Industrial Realty from a “sell” rating to a “hold” rating in a report on Monday, July 22nd. Truist Financial increased their price objective on shares of Rexford Industrial Realty from $50.00 to $54.00 and gave the stock a “buy” rating in a research report on Tuesday, July 30th. JPMorgan Chase & Co. lifted their target price on shares of Rexford Industrial Realty from $47.00 to $52.00 and gave the company a “neutral” rating in a report on Thursday, July 25th. Mizuho decreased their price target on shares of Rexford Industrial Realty from $50.00 to $49.00 and set a “neutral” rating for the company in a research report on Thursday, September 5th. Finally, Scotiabank raised their price objective on Rexford Industrial Realty from $51.00 to $55.00 and gave the company a “sector outperform” rating in a research report on Monday, August 26th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $52.50.

Rexford Industrial Realty Company 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.