Pacer Advisors Inc. Trims Holdings in Rexford Industrial Realty, Inc. (NYSE:REXR)

Pacer Advisors Inc. cut its position in shares of Rexford Industrial Realty, Inc. (NYSE:REXR) by 2.6% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 227,379 shares of the real estate investment trust’s stock after selling 6,108 shares during the quarter. Pacer Advisors Inc.’s holdings in Rexford Industrial Realty were worth $11,439,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of REXR. Massachusetts Financial Services Co. MA raised its holdings in Rexford Industrial Realty by 14.8% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 3,339,219 shares of the real estate investment trust’s stock valued at $167,996,000 after acquiring an additional 431,659 shares during the last quarter. Dimensional Fund Advisors LP grew its position in shares of Rexford Industrial Realty by 6.4% in the second quarter. Dimensional Fund Advisors LP now owns 3,326,694 shares of the real estate investment trust’s stock valued at $148,337,000 after purchasing an additional 200,027 shares during the period. Canada Pension Plan Investment Board grew its position in shares of Rexford Industrial Realty by 41.9% in the second quarter. Canada Pension Plan Investment Board now owns 3,175,465 shares of the real estate investment trust’s stock valued at $141,594,000 after purchasing an additional 938,177 shares during the period. Boston Partners increased its stake in Rexford Industrial Realty by 4.3% in the first quarter. Boston Partners now owns 2,890,685 shares of the real estate investment trust’s stock valued at $145,353,000 after purchasing an additional 118,120 shares during the last quarter. Finally, PGGM Investments lifted its position in 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 buying an additional 401,593 shares during the period. Institutional investors and hedge funds own 99.52% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on REXR. Truist Financial cut their price objective 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 price target on shares of Rexford Industrial Realty in a report on Friday, October 18th. Mizuho lowered their price objective 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. Evercore ISI reaffirmed an “outperform” rating on shares of Rexford Industrial Realty in a research report on Friday, October 18th. Finally, Bank of America downgraded Rexford Industrial Realty from a “buy” rating to a “neutral” rating and lowered their price target for the company from $66.00 to $49.00 in a research report on Monday, October 21st. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $51.09.

Rexford Industrial Realty Stock Up 0.3 %

NYSE 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. Rexford Industrial Realty, Inc. has a fifty-two week low of $41.16 and a fifty-two week high of $58.02. The business has a 50 day moving average price of $46.16 and a two-hundred day moving average price of $46.98. The stock has a market cap of $9.36 billion, a PE ratio of 34.21, a P/E/G ratio of 1.99 and a beta of 0.94.

Rexford Industrial Realty (NYSE:REXR) last announced its 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 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 analysts’ expectations of $235.81 million. During the same quarter last year, the company posted $0.56 earnings per share. Rexford Industrial Realty’s revenue for the quarter was up 17.7% compared to the same quarter last year. As a group, sell-side analysts predict that Rexford Industrial Realty, Inc. will post 2.34 EPS for the current fiscal year.

Rexford Industrial Realty Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be given a dividend of $0.4175 per share. This represents a $1.67 dividend on an annualized basis and a dividend yield of 3.97%. The ex-dividend date is Tuesday, December 31st. Rexford Industrial Realty’s payout ratio is 135.77%.

Insider Buying and Selling

In related news, CFO Laura E. Clark sold 14,185 shares of Rexford Industrial Realty stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $50.15, for a total value of $711,377.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.20% of the company’s stock.

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.