Cynosure Group LLC Sells 1,307 Shares of Rexford Industrial Realty, Inc. (NYSE:REXR)

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

A number of other large investors have also modified their holdings of REXR. Massachusetts Financial Services Co. MA increased its holdings in Rexford Industrial Realty by 14.8% in the 3rd 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 buying an additional 431,659 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of Rexford Industrial Realty by 6.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,326,694 shares of the real estate investment trust’s stock valued at $148,337,000 after acquiring an additional 200,027 shares in the last quarter. Canada Pension Plan Investment Board increased its stake in 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 valued at $141,594,000 after acquiring an additional 938,177 shares during the period. Boston Partners raised its position in 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 purchasing an additional 118,120 shares in the last quarter. Finally, PGGM Investments lifted its stake in 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 worth $126,347,000 after purchasing an additional 401,593 shares during the period. 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 analyst reports. StockNews.com lowered Rexford Industrial Realty from a “hold” rating to a “sell” rating in a research note on Monday, October 21st. Truist Financial dropped their price objective on Rexford Industrial Realty from $54.00 to $50.00 and set a “buy” rating for the company in a research note on Tuesday, November 12th. Wells Fargo & Company reduced their target price on shares of Rexford Industrial Realty from $66.00 to $61.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 28th. Industrial Alliance Securities set a $55.00 target price on shares of Rexford Industrial Realty in a research report on Friday, October 18th. Finally, Scotiabank downgraded shares of Rexford Industrial Realty from a “sector outperform” rating to a “sector perform” rating and cut their price target for the company from $55.00 to $48.00 in a report on Friday, October 25th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $51.09.

Insider Buying and Selling

In other Rexford Industrial Realty news, CFO Laura E. Clark sold 14,185 shares of the firm’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 value of $711,377.75. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 1.20% of the company’s stock.

Rexford Industrial Realty Trading Up 0.5 %

Shares of NYSE REXR opened at $42.55 on Friday. Rexford Industrial Realty, Inc. has a 1-year low of $41.16 and a 1-year high of $58.02. The company has a 50-day moving average of $45.45 and a two-hundred day moving average of $46.91. The company has a market cap of $9.46 billion, a PE ratio of 34.59, a P/E/G ratio of 2.02 and a beta of 0.94. 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 posted its quarterly earnings data on Wednesday, October 16th. The real estate investment trust reported $0.30 earnings per share for the quarter, missing the consensus estimate of $0.58 by ($0.28). The company had revenue of $241.84 million during the quarter, compared to the consensus estimate of $235.81 million. Rexford Industrial Realty had a return on equity of 3.35% and a net margin of 30.40%. The business’s revenue for the quarter was up 17.7% on a year-over-year basis. During the same quarter last year, the firm earned $0.56 EPS. As a group, equities analysts expect that Rexford Industrial Realty, Inc. will post 2.34 earnings per share for the current fiscal year.

Rexford Industrial Realty Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be issued a $0.4175 dividend. This represents a $1.67 annualized dividend and a yield of 3.92%. The ex-dividend date is Tuesday, December 31st. Rexford Industrial Realty’s dividend payout ratio is 135.77%.

Rexford Industrial Realty Company 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.