Rexford Industrial Realty, Inc. (NYSE:REXR) Stock Holdings Lessened by Cynosure Group LLC

Cynosure Group LLC cut its stake in shares of Rexford Industrial Realty, Inc. (NYSE:REXR) by 15.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,036 shares of the real estate investment trust’s stock after selling 1,307 shares during the quarter. Cynosure Group LLC’s holdings in Rexford Industrial Realty were worth $354,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Massachusetts Financial Services Co. MA lifted its holdings in shares of Rexford Industrial Realty by 14.8% during the third quarter. Massachusetts Financial Services Co. MA now owns 3,339,219 shares of the real estate investment trust’s stock valued at $167,996,000 after purchasing an additional 431,659 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Rexford Industrial Realty by 6.4% in 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 during the period. Canada Pension Plan Investment Board increased its position in shares of Rexford Industrial Realty by 41.9% in the second quarter. Canada Pension Plan Investment Board now owns 3,175,465 shares of the real estate investment trust’s stock worth $141,594,000 after acquiring an additional 938,177 shares in the last quarter. Boston Partners increased its position in shares of Rexford Industrial Realty by 4.3% in the first quarter. Boston Partners now owns 2,890,685 shares of the real estate investment trust’s stock worth $145,353,000 after acquiring an additional 118,120 shares in the last quarter. Finally, PGGM Investments raised its holdings in shares of Rexford Industrial Realty by 16.5% during the second quarter. PGGM Investments now owns 2,833,520 shares of the real estate investment trust’s stock valued at $126,347,000 after acquiring an additional 401,593 shares during the period. 99.52% of the stock is owned by institutional investors.

Rexford Industrial Realty Stock Up 0.5 %

Rexford Industrial Realty stock opened at $42.55 on Friday. The company has a market capitalization of $9.46 billion, a P/E ratio of 34.59, a P/E/G ratio of 2.02 and a beta of 0.94. Rexford Industrial Realty, Inc. has a 1-year low of $41.16 and a 1-year high of $58.02. The firm’s fifty day simple moving average is $45.45 and its 200-day simple moving average is $46.91. The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 0.40.

Rexford Industrial Realty (NYSE:REXR) last announced its earnings results on Wednesday, October 16th. The real estate investment trust reported $0.30 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.28). Rexford Industrial Realty had a return on equity of 3.35% and a net margin of 30.40%. The company had revenue of $241.84 million for the quarter, compared to the consensus estimate of $235.81 million. During the same period in the previous year, the company earned $0.56 EPS. The firm’s revenue for the quarter was up 17.7% compared to the same quarter last year. Sell-side analysts forecast 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 paid a $0.4175 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $1.67 dividend on an annualized basis and a dividend yield of 3.92%. Rexford Industrial Realty’s payout ratio is presently 135.77%.

Wall Street Analysts Forecast Growth

REXR has been the topic of several research analyst reports. Scotiabank cut shares of Rexford Industrial Realty from a “sector outperform” rating to a “sector perform” rating and lowered their price objective for the stock from $55.00 to $48.00 in a research report on Friday, October 25th. Truist Financial lowered their price target on Rexford Industrial Realty from $54.00 to $50.00 and set a “buy” rating on the stock in a report on Tuesday, November 12th. Mizuho decreased their price objective on Rexford Industrial Realty from $50.00 to $49.00 and set a “neutral” rating for the company in a research report on Thursday, September 5th. StockNews.com downgraded Rexford Industrial Realty from a “hold” rating to a “sell” rating in a report on Monday, October 21st. Finally, Bank of America cut shares of Rexford Industrial Realty from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $66.00 to $49.00 in a report on Monday, October 21st. Two analysts have rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $51.09.

Insider Buying and Selling

In other news, CFO Laura E. Clark sold 14,185 shares of the firm’s stock in a transaction 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 filing with the SEC, which is available at this hyperlink. 1.20% of the stock is 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.