Algert Global LLC Has $1.15 Million Stake in Rexford Industrial Realty, Inc. (NYSE:REXR)

Algert Global LLC trimmed its stake in Rexford Industrial Realty, Inc. (NYSE:REXR) by 83.3% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 25,670 shares of the real estate investment trust’s stock after selling 128,204 shares during the period. Algert Global LLC’s holdings in Rexford Industrial Realty were worth $1,145,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of REXR. Long Pond Capital LP boosted its position in shares of Rexford Industrial Realty by 2.3% during the 2nd quarter. Long Pond Capital LP now owns 1,053,505 shares of the real estate investment trust’s stock valued at $46,976,000 after acquiring an additional 23,290 shares in the last quarter. The Manufacturers Life Insurance Company boosted its position in shares of Rexford Industrial Realty by 28.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 370,696 shares of the real estate investment trust’s stock valued at $16,529,000 after acquiring an additional 82,286 shares in the last quarter. Deprince Race & Zollo Inc. boosted its position in shares of Rexford Industrial Realty by 20.3% during the 2nd quarter. Deprince Race & Zollo Inc. now owns 517,755 shares of the real estate investment trust’s stock valued at $23,087,000 after acquiring an additional 87,426 shares in the last quarter. Employees Retirement System of Texas boosted its position in shares of Rexford Industrial Realty by 11.6% during the 2nd quarter. Employees Retirement System of Texas now owns 173,000 shares of the real estate investment trust’s stock valued at $7,714,000 after acquiring an additional 18,000 shares in the last quarter. Finally, Squarepoint Ops LLC boosted its position in shares of Rexford Industrial Realty by 740.9% during the 2nd quarter. Squarepoint Ops LLC now owns 132,469 shares of the real estate investment trust’s stock valued at $5,907,000 after acquiring an additional 116,715 shares in the last quarter. 99.52% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

REXR has been the topic of several recent research reports. Evercore ISI lifted their target price on shares of Rexford Industrial Realty from $57.00 to $58.00 and gave the company an “outperform” rating in a research report on Monday, September 16th. StockNews.com upgraded shares of Rexford Industrial Realty from a “sell” rating to a “hold” rating in a research report on Monday, July 22nd. Mizuho decreased their target price on shares of Rexford Industrial Realty from $50.00 to $49.00 and set a “neutral” rating on the stock in a research report on Thursday, September 5th. Wells Fargo & Company cut their price target on shares of Rexford Industrial Realty from $66.00 to $61.00 and set an “overweight” rating for the company in a report on Wednesday, August 28th. Finally, Scotiabank lifted their price target on shares of Rexford Industrial Realty from $51.00 to $55.00 and gave the company a “sector outperform” rating in a report on Monday, August 26th. One investment 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 stock currently has an average rating of “Hold” and an average price target of $52.50.

Rexford Industrial Realty Trading Down 0.8 %

Shares of NYSE REXR opened at $48.41 on Friday. Rexford Industrial Realty, Inc. has a 1-year low of $41.56 and a 1-year high of $58.02. The company has a market cap of $10.63 billion, a PE ratio of 44.41, a P/E/G ratio of 2.07 and a beta of 0.93. 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 50-day moving average of $50.34 and a two-hundred day moving average of $47.56.

Rexford Industrial Realty (NYSE:REXR) last announced its 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 return on equity of 3.31% and a net margin of 30.71%. The company had revenue of $237.60 million during the quarter, compared to the consensus estimate of $227.70 million. During the same period in the prior year, the firm posted $0.54 earnings per share. The company’s revenue was up 21.3% on a year-over-year basis. As a group, equities analysts expect that Rexford Industrial Realty, Inc. will post 2.35 earnings per share for the current fiscal year.

Rexford Industrial Realty Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th will be paid a $0.4175 dividend. The ex-dividend date of this dividend is Monday, September 30th. This is an increase 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 3.45%. Rexford Industrial Realty’s payout ratio is currently 153.21%.

Insider Buying and Selling

In related news, CFO Laura E. Clark sold 14,185 shares of the business’s stock in a transaction that occurred on Tuesday, September 10th. The shares were 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 Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CFO Laura E. Clark sold 14,185 shares of the business’s stock in a transaction that occurred on Tuesday, September 10th. The shares were 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 Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Howard Schwimmer sold 30,358 shares of the business’s 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 directly owns 50,673 shares of the company’s stock, valued at approximately $2,475,882.78. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.20% of the stock is currently owned by insiders.

About Rexford Industrial Realty

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.