Highline Wealth Partners LLC Sells 1,600 Shares of Rexford Industrial Realty, Inc. (NYSE:REXR)

Highline Wealth Partners LLC trimmed its position in Rexford Industrial Realty, Inc. (NYSE:REXR) by 45.4% during the 4th quarter, Holdings Channel.com reports. The firm owned 1,927 shares of the real estate investment trust’s stock after selling 1,600 shares during the period. Highline Wealth Partners LLC’s holdings in Rexford Industrial Realty were worth $74,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in REXR. Fulton Bank N.A. grew its position in shares of Rexford Industrial Realty by 4.7% in the 3rd quarter. Fulton Bank N.A. now owns 5,038 shares of the real estate investment trust’s stock worth $253,000 after buying an additional 224 shares during the period. IHT Wealth Management LLC boosted its position in shares of Rexford Industrial Realty by 4.8% in the 3rd quarter. IHT Wealth Management LLC now owns 6,451 shares of the real estate investment trust’s stock worth $325,000 after purchasing an additional 296 shares in the last quarter. Victory Capital Management Inc. grew its stake in shares of Rexford Industrial Realty by 0.8% in the 2nd quarter. Victory Capital Management Inc. now owns 46,066 shares of the real estate investment trust’s stock worth $2,054,000 after buying an additional 345 shares during the last quarter. Naviter Wealth LLC increased its position in Rexford Industrial Realty by 2.6% during the 3rd quarter. Naviter Wealth LLC now owns 14,907 shares of the real estate investment trust’s stock valued at $756,000 after buying an additional 382 shares in the last quarter. Finally, M&T Bank Corp raised its stake in Rexford Industrial Realty by 1.5% during the third quarter. M&T Bank Corp now owns 29,225 shares of the real estate investment trust’s stock valued at $1,470,000 after buying an additional 442 shares during the last quarter. Institutional investors own 99.52% of the company’s stock.

Rexford Industrial Realty Stock Performance

Shares of NYSE REXR traded down $1.13 during midday trading on Friday, hitting $37.12. 861,272 shares of the company’s stock traded hands, compared to its average volume of 1,427,286. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.20 and a current ratio of 1.20. The stock has a market capitalization of $8.26 billion, a price-to-earnings ratio of 30.18, a price-to-earnings-growth ratio of 1.94 and a beta of 0.95. The firm has a fifty day moving average of $40.76 and a 200 day moving average of $45.83. Rexford Industrial Realty, Inc. has a 1 year low of $37.06 and a 1 year high of $56.14.

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

Rexford Industrial Realty Dividend Announcement

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 issued a dividend of $0.4175 per share. This represents a $1.67 annualized dividend and a yield of 4.50%. The ex-dividend date is Tuesday, December 31st. Rexford Industrial Realty’s dividend payout ratio is currently 135.77%.

Analysts Set New Price Targets

Several brokerages have recently weighed in on REXR. Evercore ISI restated an “outperform” rating on shares of Rexford Industrial Realty in a report on Friday, October 18th. Scotiabank cut 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 report on Friday, October 25th. Truist Financial cut their price target on shares of Rexford Industrial Realty from $54.00 to $50.00 and set a “buy” rating on the stock in a report on Tuesday, November 12th. Industrial Alliance Securities set a $55.00 target price on Rexford Industrial Realty in a research note on Friday, October 18th. Finally, Bank of America cut Rexford Industrial Realty from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $66.00 to $49.00 in a research note on Monday, October 21st. Two 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 stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $50.73.

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.