Amalgamated Bank Decreases Stock Holdings in Rexford Industrial Realty, Inc. (NYSE:REXR)

Amalgamated Bank lessened its stake in Rexford Industrial Realty, Inc. (NYSE:REXR) by 4.7% in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 109,788 shares of the real estate investment trust’s stock after selling 5,377 shares during the quarter. Amalgamated Bank owned approximately 0.05% of Rexford Industrial Realty worth $4,895,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its holdings in shares of Rexford Industrial Realty by 2.6% during the first quarter. Vanguard Group Inc. now owns 29,734,952 shares of the real estate investment trust’s stock valued at $1,495,668,000 after acquiring an additional 753,098 shares during the last quarter. Price T Rowe Associates Inc. MD raised its stake in Rexford Industrial Realty by 26.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 19,933,431 shares of the real estate investment trust’s stock valued at $1,002,654,000 after purchasing an additional 4,197,907 shares during the last quarter. Capital International Investors lifted its holdings in Rexford Industrial Realty by 687.7% in the 1st quarter. Capital International Investors now owns 19,590,676 shares of the real estate investment trust’s stock valued at $985,411,000 after purchasing an additional 17,103,653 shares in the last quarter. Centersquare Investment Management LLC boosted its stake in Rexford Industrial Realty by 1.1% during the 1st quarter. Centersquare Investment Management LLC now owns 3,938,026 shares of the real estate investment trust’s stock worth $198,083,000 after purchasing an additional 42,632 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in shares of Rexford Industrial Realty by 6.4% during the second quarter. Dimensional Fund Advisors LP now owns 3,326,694 shares of the real estate investment trust’s stock worth $148,337,000 after buying an additional 200,027 shares in the last quarter. Hedge funds and other institutional investors own 99.52% of the company’s stock.

Insider Transactions at Rexford Industrial Realty

In related news, CFO Laura E. Clark sold 14,185 shares of the stock in a transaction dated 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 document filed with the SEC, which is accessible through this hyperlink. In related news, CFO Laura E. Clark sold 14,185 shares of Rexford Industrial Realty stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $50.15, for a total value of $711,377.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Howard Schwimmer sold 30,358 shares of the stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $48.86, for a total transaction of $1,483,291.88. Following the sale, the chief executive officer now owns 50,673 shares in the company, valued at $2,475,882.78. The disclosure for this sale can be found here. Company insiders own 1.20% of the company’s stock.

Analysts Set New Price Targets

REXR has been the topic of several research reports. Mizuho decreased their price target on shares of Rexford Industrial Realty from $50.00 to $49.00 and set a “neutral” rating on the stock in a research note on Thursday, September 5th. Scotiabank raised their target price on shares of Rexford Industrial Realty from $51.00 to $55.00 and gave the stock a “sector outperform” rating in a research note on Monday, August 26th. Wells Fargo & Company dropped their price target on Rexford Industrial Realty from $66.00 to $61.00 and set an “overweight” rating for the company in a research report on Wednesday, August 28th. Truist Financial lifted their price objective on Rexford Industrial Realty from $50.00 to $54.00 and gave the stock a “buy” rating in a research report on Tuesday, July 30th. Finally, JPMorgan Chase & Co. upped their target price on Rexford Industrial Realty from $47.00 to $52.00 and gave the company a “neutral” rating in a report on Thursday, July 25th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $52.50.

Rexford Industrial Realty Stock Down 2.0 %

Shares of NYSE:REXR opened at $51.13 on Friday. The business has a 50-day moving average price of $50.14 and a 200 day moving average price of $47.68. Rexford Industrial Realty, Inc. has a 12-month low of $41.56 and a 12-month high of $58.02. The company has a current ratio of 1.73, a quick ratio of 1.73 and a debt-to-equity ratio of 0.41. The company has a market capitalization of $11.22 billion, a price-to-earnings ratio of 46.91, a PEG ratio of 2.10 and a beta of 0.93.

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

Rexford Industrial Realty Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th will be paid a dividend of $0.4175 per share. This represents a $1.67 dividend on an annualized basis and a yield of 3.27%. This is a boost from Rexford Industrial Realty’s previous quarterly dividend of $0.42. The ex-dividend date is Monday, September 30th. Rexford Industrial Realty’s dividend payout ratio is 153.21%.

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.