Catalyst Capital Advisors LLC Takes $129,000 Position in Rexford Industrial Realty, Inc. (NYSE:REXR)

Catalyst Capital Advisors LLC acquired a new stake in shares of Rexford Industrial Realty, Inc. (NYSE:REXR) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 2,558 shares of the real estate investment trust’s stock, valued at approximately $129,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in REXR. Vanguard Group Inc. raised its stake in shares of Rexford Industrial Realty by 2.6% in the 1st quarter. Vanguard Group Inc. now owns 29,734,952 shares of the real estate investment trust’s stock worth $1,495,668,000 after buying an additional 753,098 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of Rexford Industrial Realty by 26.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 19,933,431 shares of the real estate investment trust’s stock worth $1,002,654,000 after purchasing an additional 4,197,907 shares during the period. Capital International Investors raised its position in shares of Rexford Industrial Realty by 687.7% during the first quarter. Capital International Investors now owns 19,590,676 shares of the real estate investment trust’s stock worth $985,411,000 after purchasing an additional 17,103,653 shares during the period. Centersquare Investment Management LLC raised its position in shares of Rexford Industrial Realty by 1.1% during the first quarter. Centersquare Investment Management LLC now owns 3,938,026 shares of the real estate investment trust’s stock worth $198,083,000 after purchasing an additional 42,632 shares during the period. Finally, Dimensional Fund Advisors LP raised its position in shares of Rexford Industrial Realty by 6.4% during 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 purchasing an additional 200,027 shares during the period. Institutional investors and hedge funds own 99.52% of the company’s stock.

Insider Buying and Selling at Rexford Industrial Realty

In other Rexford Industrial Realty news, CFO Laura E. Clark sold 14,185 shares of Rexford Industrial Realty stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $50.15, for a total value of $711,377.75. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 1.20% of the company’s stock.

Rexford Industrial Realty Stock Performance

Shares of Rexford Industrial Realty stock opened at $43.74 on Wednesday. The stock’s fifty day simple moving average is $48.24 and its 200 day simple moving average is $47.12. Rexford Industrial Realty, Inc. has a 12 month low of $41.89 and a 12 month high of $58.02. The company has a market capitalization of $9.73 billion, a PE ratio of 35.56, a PEG ratio of 2.03 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 released its quarterly earnings results on Wednesday, October 16th. The real estate investment trust reported $0.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.58 by ($0.28). Rexford Industrial Realty had a net margin of 30.40% and a return on equity of 3.35%. The firm had revenue of $241.84 million during the quarter, compared to analyst estimates of $235.81 million. During the same period in the prior year, the business earned $0.56 EPS. The business’s revenue for the quarter was up 17.7% compared to the same quarter last year. On average, research analysts predict that Rexford Industrial Realty, Inc. will post 2.34 EPS for the current year.

Rexford Industrial Realty Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be paid a $0.4175 dividend. This represents a $1.67 annualized dividend and a dividend yield of 3.82%. The ex-dividend date of this dividend is Tuesday, December 31st. Rexford Industrial Realty’s dividend payout ratio is 135.77%.

Wall Street Analyst Weigh In

Several research firms recently weighed in on REXR. Scotiabank lowered Rexford Industrial Realty from a “sector outperform” rating to a “sector perform” rating and dropped their price target for the company from $55.00 to $48.00 in a research report on Friday, October 25th. Mizuho decreased their price target on Rexford Industrial Realty from $50.00 to $49.00 and set a “neutral” rating for the company in a research note on Thursday, September 5th. Industrial Alliance Securities set a $55.00 price target on Rexford Industrial Realty in a research note on Friday, October 18th. JPMorgan Chase & Co. upped their price target on Rexford Industrial Realty from $47.00 to $52.00 and gave the stock a “neutral” rating in a research note on Thursday, July 25th. Finally, Evercore ISI reiterated an “outperform” rating on shares of Rexford Industrial Realty in a research note on Friday, October 18th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $51.45.

Rexford Industrial Realty 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.