Waratah Capital Advisors Ltd. Cuts Stock Position in Rexford Industrial Realty, Inc. (NYSE:REXR)

Waratah Capital Advisors Ltd. lessened its holdings in Rexford Industrial Realty, Inc. (NYSE:REXRGet Rating) by 45.9% in the first quarter, HoldingsChannel reports. The institutional investor owned 265,490 shares of the real estate investment trust’s stock after selling 225,540 shares during the quarter. Waratah Capital Advisors Ltd.’s holdings in Rexford Industrial Realty were worth $19,803,000 at the end of the most recent reporting period.

A number of other institutional investors have also bought and sold shares of the business. Advisor Group Holdings Inc. increased its stake in Rexford Industrial Realty by 3.5% in the 4th quarter. Advisor Group Holdings Inc. now owns 4,392 shares of the real estate investment trust’s stock worth $355,000 after buying an additional 150 shares in the last quarter. First Horizon Advisors Inc. grew its position in shares of Rexford Industrial Realty by 28.7% during the fourth quarter. First Horizon Advisors Inc. now owns 727 shares of the real estate investment trust’s stock valued at $59,000 after purchasing an additional 162 shares in the last quarter. FourThought Financial LLC grew its position in shares of Rexford Industrial Realty by 11.8% during the first quarter. FourThought Financial LLC now owns 1,705 shares of the real estate investment trust’s stock valued at $127,000 after purchasing an additional 180 shares in the last quarter. JJJ Advisors Inc. grew its position in shares of Rexford Industrial Realty by 38.9% during the first quarter. JJJ Advisors Inc. now owns 1,124 shares of the real estate investment trust’s stock valued at $84,000 after purchasing an additional 315 shares in the last quarter. Finally, Summit Global Investments grew its position in shares of Rexford Industrial Realty by 1.2% during the first quarter. Summit Global Investments now owns 29,034 shares of the real estate investment trust’s stock valued at $2,166,000 after purchasing an additional 341 shares in the last quarter. Hedge funds and other institutional investors own 98.53% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. StockNews.com lowered Rexford Industrial Realty from a “hold” rating to a “sell” rating in a research report on Thursday, July 21st. Jefferies Financial Group cut their price objective on Rexford Industrial Realty from $89.00 to $73.00 in a research report on Thursday, June 30th. Robert W. Baird increased their price target on shares of Rexford Industrial Realty from $87.00 to $89.00 in a report on Friday, July 22nd. Wells Fargo & Company lowered their price target on shares of Rexford Industrial Realty from $90.00 to $74.00 and set an “overweight” rating for the company in a report on Monday, June 6th. Finally, Wolfe Research assumed coverage on shares of Rexford Industrial Realty in a report on Tuesday, June 21st. They issued a “market perform” rating and a $63.00 price target for the company. One analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $76.60.

Rexford Industrial Realty Trading Up 0.1 %

NYSE REXR traded up $0.06 during trading on Friday, hitting $64.77. The stock had a trading volume of 573,785 shares, compared to its average volume of 1,255,011. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.55 and a current ratio of 0.55. The stock has a market capitalization of $11.08 billion, a price-to-earnings ratio of 68.18, a P/E/G ratio of 2.96 and a beta of 0.76. Rexford Industrial Realty, Inc. has a one year low of $55.84 and a one year high of $84.68. The stock has a 50 day simple moving average of $61.12 and a 200 day simple moving average of $68.31.

Rexford Industrial Realty (NYSE:REXRGet Rating) last announced its quarterly earnings data on Wednesday, July 20th. The real estate investment trust reported $0.22 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.24 by ($0.02). The firm had revenue of $149.12 million during the quarter, compared to the consensus estimate of $149.21 million. Rexford Industrial Realty had a return on equity of 3.17% and a net margin of 29.79%. The firm’s revenue for the quarter was up 42.9% on a year-over-year basis. During the same period in the previous year, the business earned $0.39 EPS. Sell-side analysts predict that Rexford Industrial Realty, Inc. will post 1.93 earnings per share for the current year.

Rexford Industrial Realty Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Saturday, October 15th. Shareholders of record on Friday, September 30th will be paid a $0.315 dividend. This represents a $1.26 annualized dividend and a yield of 1.95%. The ex-dividend date is Thursday, September 29th. Rexford Industrial Realty’s payout ratio is currently 132.63%.

Insiders Place Their Bets

In other news, CEO Howard Schwimmer sold 15,350 shares of Rexford Industrial Realty stock in a transaction that occurred on Monday, August 1st. The shares were sold at an average price of $65.27, for a total transaction of $1,001,894.50. Following the completion of the sale, the chief executive officer now owns 52,720 shares of the company’s stock, valued at $3,441,034.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders sold a total of 48,252 shares of company stock valued at $3,009,629 over the last 90 days. Insiders own 1.50% of the company’s stock.

Rexford Industrial Realty Profile

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Rexford Industrial, a real estate investment trust focused on owning and operating industrial properties throughout Southern California infill markets, owns 232 properties with approximately 27.9 million rentable square feet and manages an additional 20 properties with approximately 1.0 million rentable square feet.

Further Reading

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Institutional Ownership by Quarter for Rexford Industrial Realty (NYSE:REXR)

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