Duff & Phelps Investment Management Co. Trims Holdings in Rexford Industrial Realty, Inc. (NYSE:REXR)

Duff & Phelps Investment Management Co. lowered its holdings in Rexford Industrial Realty, Inc. (NYSE:REXR) by 0.2% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 1,978,283 shares of the real estate investment trust’s stock after selling 3,600 shares during the quarter. Rexford Industrial Realty makes up about 1.3% of Duff & Phelps Investment Management Co.’s investment portfolio, making the stock its 24th largest holding. Duff & Phelps Investment Management Co.’s holdings in Rexford Industrial Realty were worth $110,982,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Envestnet Asset Management Inc. boosted its position in Rexford Industrial Realty by 139.5% during the 3rd quarter. Envestnet Asset Management Inc. now owns 232,848 shares of the real estate investment trust’s stock valued at $11,491,000 after acquiring an additional 135,627 shares in the last quarter. Pacer Advisors Inc. grew its position in shares of Rexford Industrial Realty by 12.8% in the 4th quarter. Pacer Advisors Inc. now owns 207,609 shares of the real estate investment trust’s stock worth $11,647,000 after buying an additional 23,510 shares during the period. Louisiana State Employees Retirement System bought a new position in shares of Rexford Industrial Realty in the 4th quarter worth about $3,327,000. Daiwa Securities Group Inc. increased its stake in shares of Rexford Industrial Realty by 1.5% in the 4th quarter. Daiwa Securities Group Inc. now owns 79,851 shares of the real estate investment trust’s stock worth $4,480,000 after acquiring an additional 1,171 shares in the last quarter. Finally, The Manufacturers Life Insurance Company boosted its holdings in Rexford Industrial Realty by 6.8% in the third quarter. The Manufacturers Life Insurance Company now owns 314,170 shares of the real estate investment trust’s stock worth $15,506,000 after acquiring an additional 19,981 shares in the last quarter. 99.52% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Rexford Industrial Realty news, General Counsel David E. Lanzer sold 18,113 shares of Rexford Industrial Realty stock in a transaction on Monday, February 12th. The shares were sold at an average price of $52.69, for a total value of $954,373.97. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 1.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on REXR shares. Barclays lifted their target price on shares of Rexford Industrial Realty from $45.00 to $46.00 and gave the stock an “underweight” rating in a report on Tuesday, April 23rd. Truist Financial decreased their price objective on shares of Rexford Industrial Realty from $57.00 to $53.00 and set a “buy” rating for the company in a report on Tuesday, April 16th. JPMorgan Chase & Co. downgraded Rexford Industrial Realty from an “overweight” rating to a “neutral” rating and set a $55.00 target price on the stock. in a research note on Wednesday, February 7th. Wedbush assumed coverage on Rexford Industrial Realty in a research note on Monday, April 22nd. They issued a “neutral” rating and a $45.00 price target for the company. Finally, Mizuho reaffirmed a “neutral” rating and set a $52.00 price objective on shares of Rexford Industrial Realty in a research report on Tuesday, April 2nd. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $54.73.

Rexford Industrial Realty Stock Performance

NYSE REXR traded down $0.33 on Tuesday, hitting $43.06. 328,114 shares of the company traded hands, compared to its average volume of 1,956,843. The business’s 50 day moving average price is $49.11 and its 200-day moving average price is $50.40. The company has a market capitalization of $9.38 billion, a price-to-earnings ratio of 39.82, a P/E/G ratio of 1.90 and a beta of 0.86. The company has a current ratio of 3.21, a quick ratio of 3.21 and a debt-to-equity ratio of 0.41. Rexford Industrial Realty, Inc. has a 52-week low of $41.56 and a 52-week high of $58.02.

Rexford Industrial Realty (NYSE:REXR) last announced its quarterly earnings data on Thursday, April 18th. The real estate investment trust reported $0.27 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.30). The firm had revenue of $214.10 million during the quarter, compared to analysts’ expectations of $207.39 million. Rexford Industrial Realty had a return on equity of 3.04% and a net margin of 28.84%. The business’s revenue for the quarter was up 15.0% on a year-over-year basis. During the same period last year, the company earned $0.52 earnings per share. Equities analysts expect that Rexford Industrial Realty, Inc. will post 2.33 earnings per share for the current year.

Rexford Industrial Realty Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Friday, June 28th will be paid a dividend of $0.417 per share. The ex-dividend date of this dividend is Friday, June 28th. This represents a $1.67 annualized dividend and a yield of 3.87%. Rexford Industrial Realty’s payout ratio is 153.21%.

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.