Rexford Industrial Realty, Inc. (NYSE:REXR) Shares Sold by Pacer Advisors Inc.

Pacer Advisors Inc. lessened its holdings in shares of Rexford Industrial Realty, Inc. (NYSE:REXR) by 2.6% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 227,379 shares of the real estate investment trust’s stock after selling 6,108 shares during the period. Pacer Advisors Inc. owned 0.10% of Rexford Industrial Realty worth $11,439,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Canada Pension Plan Investment Board lifted its position in shares of Rexford Industrial Realty by 41.9% during the 2nd 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 buying an additional 938,177 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its stake in Rexford Industrial Realty by 38.0% in the second quarter. Massachusetts Financial Services Co. MA now owns 2,907,560 shares of the real estate investment trust’s stock valued at $129,648,000 after acquiring an additional 800,137 shares in the last quarter. Daiwa Securities Group Inc. boosted its stake in Rexford Industrial Realty by 52.5% in the second quarter. Daiwa Securities Group Inc. now owns 1,210,795 shares of the real estate investment trust’s stock valued at $53,990,000 after acquiring an additional 417,037 shares in the last quarter. PGGM Investments grew 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 worth $126,347,000 after purchasing an additional 401,593 shares during the last quarter. Finally, Raymond James & Associates lifted its holdings in shares of Rexford Industrial Realty by 264.5% in the 2nd quarter. Raymond James & Associates now owns 361,672 shares of the real estate investment trust’s stock valued at $16,127,000 after purchasing an additional 262,435 shares during the last quarter. 99.52% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Rexford Industrial Realty

In other Rexford Industrial Realty news, CFO Laura E. Clark sold 14,185 shares of the business’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $50.15, for a total transaction of $711,377.75. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 1.20% of the stock is currently owned by corporate insiders.

Rexford Industrial Realty Stock Performance

Shares of REXR stock opened at $42.08 on Friday. The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 0.40. The stock has a 50 day simple moving average of $46.16 and a 200-day simple moving average of $46.98. The company has a market cap of $9.36 billion, a price-to-earnings ratio of 34.21, a price-to-earnings-growth ratio of 1.99 and a beta of 0.94. Rexford Industrial Realty, Inc. has a 12-month low of $41.16 and a 12-month high of $58.02.

Rexford Industrial Realty (NYSE:REXR) last released its quarterly earnings data 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). The business had revenue of $241.84 million during the quarter, compared to analysts’ expectations of $235.81 million. Rexford Industrial Realty had a return on equity of 3.35% and a net margin of 30.40%. The company’s revenue was up 17.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.56 EPS. On average, equities analysts forecast that Rexford Industrial Realty, Inc. will post 2.34 EPS for the current year.

Rexford Industrial Realty Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be issued 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 yield of 3.97%. Rexford Industrial Realty’s dividend payout ratio (DPR) is presently 135.77%.

Analysts Set New Price Targets

REXR has been the topic of several research analyst reports. Evercore ISI reaffirmed an “outperform” rating on shares of Rexford Industrial Realty in a research report on Friday, October 18th. Bank of America cut shares of Rexford Industrial Realty from a “buy” rating to a “neutral” rating and cut their target price for the company from $66.00 to $49.00 in a report on Monday, October 21st. Mizuho decreased their price target on shares of 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. Wells Fargo & Company dropped their price objective 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. Finally, Scotiabank downgraded shares of Rexford Industrial Realty from a “sector outperform” rating to a “sector perform” rating and decreased their target price for the stock from $55.00 to $48.00 in a research note on Friday, October 25th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $51.09.

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.