Westpac Banking Corp cut its position in Rexford Industrial Realty Inc (NYSE:REXR) by 1.8% during the 1st quarter, Holdings Channel reports. The firm owned 667,390 shares of the real estate investment trust’s stock after selling 12,119 shares during the quarter. Westpac Banking Corp’s holdings in Rexford Industrial Realty were worth $23,899,000 as of its most recent filing with the Securities & Exchange Commission.
Other large investors have also recently modified their holdings of the company. Whittier Trust Co. grew its stake in Rexford Industrial Realty by 99.2% in the fourth quarter. Whittier Trust Co. now owns 1,243 shares of the real estate investment trust’s stock worth $37,000 after purchasing an additional 619 shares in the last quarter. Quantamental Technologies LLC purchased a new stake in shares of Rexford Industrial Realty during the 1st quarter valued at $60,000. Quadrant Capital Group LLC purchased a new stake in shares of Rexford Industrial Realty during the 1st quarter valued at $69,000. US Bancorp DE increased its position in shares of Rexford Industrial Realty by 5.4% in the 1st quarter. US Bancorp DE now owns 5,540 shares of the real estate investment trust’s stock valued at $198,000 after acquiring an additional 286 shares during the period. Finally, Nisa Investment Advisors LLC increased its position in shares of Rexford Industrial Realty by 289.0% in the 1st quarter. Nisa Investment Advisors LLC now owns 5,835 shares of the real estate investment trust’s stock valued at $209,000 after acquiring an additional 4,335 shares during the period. Hedge funds and other institutional investors own 98.68% of the company’s stock.
Several equities research analysts have weighed in on the company. Zacks Investment Research downgraded Rexford Industrial Realty from a “buy” rating to a “hold” rating in a research report on Tuesday. Wells Fargo & Co increased their price target on Rexford Industrial Realty from $32.00 to $37.00 and gave the stock a “market perform” rating in a research report on Thursday, March 14th. They noted that the move was a valuation call. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $38.33.
In other news, CFO Adeel Khan sold 40,000 shares of the firm’s stock in a transaction dated Thursday, May 23rd. The stock was sold at an average price of $38.00, for a total transaction of $1,520,000.00. Following the sale, the chief financial officer now directly owns 40,000 shares in the company, valued at approximately $1,520,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, General Counsel David E. Lanzer sold 5,085 shares of the firm’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $38.19, for a total value of $194,196.15. Following the sale, the general counsel now owns 5,718 shares in the company, valued at $218,370.42. The disclosure for this sale can be found here. 1.70% of the stock is owned by company insiders.
REXR traded up $0.49 during midday trading on Wednesday, hitting $39.98. 17,800 shares of the company were exchanged, compared to its average volume of 714,820. Rexford Industrial Realty Inc has a 1-year low of $28.17 and a 1-year high of $39.70. The company has a debt-to-equity ratio of 0.38, a quick ratio of 8.34 and a current ratio of 8.34. The company has a market capitalization of $4.11 billion, a P/E ratio of 35.61, a P/E/G ratio of 3.75 and a beta of 0.84.
Rexford Industrial Realty (NYSE:REXR) last posted its earnings results on Tuesday, April 30th. The real estate investment trust reported $0.08 EPS for the quarter, missing the Zacks’ consensus estimate of $0.28 by ($0.20). Rexford Industrial Realty had a net margin of 18.77% and a return on equity of 2.43%. The business had revenue of $60.36 million for the quarter, compared to analyst estimates of $60.05 million. During the same quarter last year, the business earned $0.27 earnings per share. Rexford Industrial Realty’s revenue was up 24.4% on a year-over-year basis. Analysts forecast that Rexford Industrial Realty Inc will post 1.2 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Friday, June 28th will be given a dividend of $0.185 per share. This represents a $0.74 dividend on an annualized basis and a dividend yield of 1.85%. The ex-dividend date is Thursday, June 27th. Rexford Industrial Realty’s dividend payout ratio (DPR) is presently 66.07%.
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About Rexford Industrial Realty
Rexford Industrial is a real estate investment trust focused on owning and operating industrial properties in Southern California infill markets. The Company owns 179 properties with approximately 22.1 million rentable square feet and manages an additional 20 properties with approximately 1.2 million rentable square feet.
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