MetLife Investment Management LLC Decreases Position in Rexford Industrial Realty, Inc. (NYSE:REXR)

MetLife Investment Management LLC trimmed its holdings in shares of Rexford Industrial Realty, Inc. (NYSE:REXR) by 1.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 119,806 shares of the real estate investment trust’s stock after selling 1,269 shares during the period. MetLife Investment Management LLC owned about 0.05% of Rexford Industrial Realty worth $6,027,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. BNP Paribas Financial Markets boosted its position in Rexford Industrial Realty by 5.5% during the 3rd quarter. BNP Paribas Financial Markets now owns 175,658 shares of the real estate investment trust’s stock valued at $8,837,000 after buying an additional 9,093 shares during the period. FMR LLC raised its stake in shares of Rexford Industrial Realty by 243.8% during the third quarter. FMR LLC now owns 275,669 shares of the real estate investment trust’s stock valued at $13,869,000 after acquiring an additional 195,496 shares during the last quarter. Bank of Montreal Can boosted its holdings in shares of Rexford Industrial Realty by 5.2% during the third quarter. Bank of Montreal Can now owns 72,416 shares of the real estate investment trust’s stock worth $3,658,000 after purchasing an additional 3,604 shares during the period. Fisher Asset Management LLC grew its stake in shares of Rexford Industrial Realty by 9.2% in the third quarter. Fisher Asset Management LLC now owns 66,766 shares of the real estate investment trust’s stock worth $3,359,000 after purchasing an additional 5,604 shares during the last quarter. Finally, Daiwa Securities Group Inc. increased its holdings in Rexford Industrial Realty by 19.6% during the 3rd quarter. Daiwa Securities Group Inc. now owns 1,448,419 shares of the real estate investment trust’s stock valued at $72,870,000 after purchasing an additional 237,624 shares during the period. 99.52% of the stock is owned by institutional investors.

Insider Transactions at Rexford Industrial Realty

In other 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 value of $711,377.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 1.20% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on REXR. 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 report on Tuesday, November 12th. StockNews.com lowered Rexford Industrial Realty from a “hold” rating to a “sell” rating in a research note on Monday, October 21st. Scotiabank downgraded shares of Rexford Industrial Realty from a “sector outperform” rating to a “sector perform” rating and reduced their price objective for the company from $55.00 to $48.00 in a research report on Friday, October 25th. Industrial Alliance Securities set a $55.00 target price on shares of Rexford Industrial Realty in a research report on Friday, October 18th. Finally, Wells Fargo & Company reduced their price target on shares of Rexford Industrial Realty from $66.00 to $61.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 28th. 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 company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $51.09.

Rexford Industrial Realty Stock Performance

Shares of REXR opened at $42.08 on Friday. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 0.40. The stock has a market cap of $9.36 billion, a P/E ratio of 34.21, a P/E/G ratio of 2.02 and a beta of 0.94. The business’s 50 day moving average price is $45.27 and its 200-day moving average price is $46.91. Rexford Industrial Realty, Inc. has a 52 week low of $41.16 and a 52 week high of $58.02.

Rexford Industrial Realty (NYSE:REXR) last released its earnings results on Wednesday, October 16th. The real estate investment trust reported $0.30 EPS 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 company’s revenue was up 17.7% compared to the same quarter last year. During the same period last year, the firm posted $0.56 earnings per share. Equities research analysts anticipate 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 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 annualized dividend and a yield of 3.97%. Rexford Industrial Realty’s dividend payout ratio (DPR) is presently 135.77%.

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.