Atria Investments Inc Cuts Stake in Rexford Industrial Realty, Inc. (NYSE:REXR)

Atria Investments Inc lowered its position in shares of Rexford Industrial Realty, Inc. (NYSE:REXR) by 9.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 13,499 shares of the real estate investment trust’s stock after selling 1,375 shares during the period. Atria Investments Inc’s holdings in Rexford Industrial Realty were worth $679,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Massmutual Trust Co. FSB ADV increased its position in shares of Rexford Industrial Realty by 169.4% in the second 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 in the last quarter. V Square Quantitative Management LLC purchased a new stake in shares of Rexford Industrial Realty in the 2nd quarter valued at $26,000. UMB Bank n.a. increased its holdings in Rexford Industrial Realty by 164.3% during the 3rd quarter. UMB Bank n.a. now owns 719 shares of the real estate investment trust’s stock worth $36,000 after purchasing an additional 447 shares during the period. Headlands Technologies LLC purchased a new stake in Rexford Industrial Realty during the 2nd quarter worth about $41,000. Finally, EverSource Wealth Advisors LLC boosted its position 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 acquiring an additional 864 shares in the last quarter. Institutional investors own 99.52% of the company’s stock.

Rexford Industrial Realty Stock Up 0.6 %

Shares of NYSE REXR opened at $42.95 on Wednesday. Rexford Industrial Realty, Inc. has a 1 year low of $41.16 and a 1 year high of $58.02. The firm has a market cap of $9.55 billion, a price-to-earnings ratio of 34.92, a PEG ratio of 2.01 and a beta of 0.94. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.20 and a current ratio of 1.20. The stock’s 50-day simple moving average is $46.78 and its 200-day simple moving average is $47.08.

Rexford Industrial Realty (NYSE:REXR) last announced its quarterly earnings data on Wednesday, October 16th. The real estate investment trust reported $0.30 earnings per share for the quarter, missing the consensus estimate of $0.58 by ($0.28). Rexford Industrial Realty had a net margin of 30.40% and a return on equity of 3.35%. The firm had revenue of $241.84 million during the quarter, compared to the consensus estimate of $235.81 million. During the same period in the prior year, the firm earned $0.56 earnings per share. The firm’s quarterly revenue was up 17.7% compared to the same quarter last year. 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 firm also recently disclosed 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. The ex-dividend date is Tuesday, December 31st. This represents a $1.67 annualized dividend and a dividend yield of 3.89%. Rexford Industrial Realty’s dividend payout ratio is presently 135.77%.

Insider Transactions at Rexford Industrial Realty

In other Rexford Industrial Realty news, CFO Laura E. Clark sold 14,185 shares of the company’s stock in a transaction 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 SEC, which is accessible through this link. Insiders own 1.20% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on REXR. Truist Financial decreased their target price on Rexford Industrial Realty from $54.00 to $50.00 and set a “buy” rating for the company in a research report on Tuesday, November 12th. Scotiabank downgraded Rexford Industrial Realty from a “sector outperform” rating to a “sector perform” rating and cut their target price for the stock from $55.00 to $48.00 in a research note on Friday, October 25th. Industrial Alliance Securities set a $55.00 target price on Rexford Industrial Realty in a research note on Friday, October 18th. Bank of America downgraded Rexford Industrial Realty from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $66.00 to $49.00 in a research note on Monday, October 21st. Finally, JPMorgan Chase & Co. raised 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. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, Rexford Industrial Realty has an average rating of “Hold” and an average target price of $51.09.

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.