Evoke Wealth LLC Cuts Stock Position in Rexford Industrial Realty, Inc. (NYSE:REXR)

Evoke Wealth LLC cut its holdings in shares of Rexford Industrial Realty, Inc. (NYSE:REXR) by 2.6% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 23,541 shares of the real estate investment trust’s stock after selling 626 shares during the quarter. Rexford Industrial Realty makes up about 1.2% of Evoke Wealth LLC’s investment portfolio, making the stock its 13th biggest position. Evoke Wealth LLC’s holdings in Rexford Industrial Realty were worth $1,060,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in REXR. Los Angeles Capital Management LLC boosted its position in shares of Rexford Industrial Realty by 2.3% during the first quarter. Los Angeles Capital Management LLC now owns 9,165 shares of the real estate investment trust’s stock worth $461,000 after acquiring an additional 210 shares during the last quarter. Inspire Investing LLC boosted its holdings in shares of Rexford Industrial Realty by 4.9% during the 1st quarter. Inspire Investing LLC now owns 7,126 shares of the real estate investment trust’s stock valued at $358,000 after purchasing an additional 331 shares during the last quarter. Hennion & Walsh Asset Management Inc. boosted its holdings in shares of Rexford Industrial Realty by 2.4% during the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 14,641 shares of the real estate investment trust’s stock valued at $653,000 after purchasing an additional 337 shares during the last quarter. Victory Capital Management Inc. grew its position in shares of Rexford Industrial Realty by 0.8% during the second quarter. Victory Capital Management Inc. now owns 46,066 shares of the real estate investment trust’s stock valued at $2,054,000 after purchasing an additional 345 shares in the last quarter. Finally, Massmutual Trust Co. FSB ADV increased its holdings 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 worth $25,000 after purchasing an additional 349 shares during the last quarter. 99.52% of the stock is currently owned by hedge funds and other institutional investors.

Rexford Industrial Realty Stock Performance

Shares of NYSE:REXR opened at $51.13 on Friday. 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 $11.14 billion, a price-to-earnings ratio of 46.91, a PEG ratio of 2.10 and a beta of 0.93. Rexford Industrial Realty, Inc. has a 12 month low of $41.56 and a 12 month high of $58.02. The firm’s 50-day moving average is $50.14 and its 200 day moving average is $47.68.

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

Rexford Industrial Realty Increases Dividend

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

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. StockNews.com upgraded Rexford Industrial Realty from a “sell” rating to a “hold” rating in a report on Monday, July 22nd. Mizuho cut their target price on shares of Rexford Industrial Realty from $50.00 to $49.00 and set a “neutral” rating for the company in a report on Thursday, September 5th. Evercore ISI upped their price target on shares of Rexford Industrial Realty from $57.00 to $58.00 and gave the company an “outperform” rating in a research note on Monday, September 16th. Truist Financial lifted 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 note on Tuesday, July 30th. Finally, Scotiabank upped their target price on shares of 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 equities research analyst has rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, Rexford Industrial Realty has a consensus rating of “Hold” and an average price target of $52.50.

Insider Buying and Selling

In other Rexford Industrial Realty news, 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 value of $711,377.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Howard Schwimmer sold 30,358 shares of the stock in a transaction on Friday, July 26th. The stock was 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 disclosure for this sale can be found here. 1.20% of the stock is currently owned by insiders.

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.