AXS Investments LLC Decreases Stake in Rexford Industrial Realty, Inc. (NYSE:REXR)

AXS Investments LLC lowered its position in shares of Rexford Industrial Realty, Inc. (NYSE:REXR) by 30.7% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 17,822 shares of the real estate investment trust’s stock after selling 7,900 shares during the period. AXS Investments LLC’s holdings in Rexford Industrial Realty were worth $931,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Nisa Investment Advisors LLC lifted its position in Rexford Industrial Realty by 21.5% in the 1st quarter. Nisa Investment Advisors LLC now owns 75,924 shares of the real estate investment trust’s stock valued at $4,529,000 after purchasing an additional 13,455 shares during the last quarter. Versor Investments LP acquired a new stake in shares of Rexford Industrial Realty in the first quarter worth $262,000. Signaturefd LLC grew its holdings in shares of Rexford Industrial Realty by 29.9% during the first quarter. Signaturefd LLC now owns 2,225 shares of the real estate investment trust’s stock valued at $133,000 after buying an additional 512 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its position in Rexford Industrial Realty by 3.2% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 85,178 shares of the real estate investment trust’s stock valued at $5,081,000 after buying an additional 2,632 shares during the period. Finally, Rhumbline Advisers lifted its stake in Rexford Industrial Realty by 6.3% in the 2nd quarter. Rhumbline Advisers now owns 670,302 shares of the real estate investment trust’s stock worth $35,003,000 after acquiring an additional 39,796 shares in the last quarter. Institutional investors and hedge funds own 99.52% of the company’s stock.

Rexford Industrial Realty Stock Performance

Shares of Rexford Industrial Realty stock traded down $0.06 on Friday, reaching $46.99. The stock had a trading volume of 1,458,266 shares, compared to its average volume of 1,638,287. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.66 and a current ratio of 0.66. The business’s 50-day moving average price is $47.65 and its two-hundred day moving average price is $51.52. The stock has a market cap of $9.92 billion, a P/E ratio of 44.73, a price-to-earnings-growth ratio of 2.02 and a beta of 0.88. Rexford Industrial Realty, Inc. has a fifty-two week low of $41.56 and a fifty-two week high of $66.71.

Rexford Industrial Realty (NYSE:REXR) last posted its quarterly earnings data on Wednesday, October 18th. The real estate investment trust reported $0.27 earnings per share for the quarter, missing the consensus estimate of $0.56 by ($0.29). The business had revenue of $205.40 million during the quarter, compared to the consensus estimate of $201.96 million. Rexford Industrial Realty had a net margin of 28.28% and a return on equity of 2.96%. The firm’s revenue was up 26.2% compared to the same quarter last year. During the same period in the prior year, the company posted $0.50 earnings per share. On average, sell-side analysts forecast that Rexford Industrial Realty, Inc. will post 2.18 EPS for the current year.

Rexford Industrial Realty Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 16th. Investors of record on Friday, December 29th will be paid a $0.38 dividend. The ex-dividend date is Thursday, December 28th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 3.23%. Rexford Industrial Realty’s payout ratio is 144.76%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Wolfe Research raised shares of Rexford Industrial Realty from a “peer perform” rating to an “outperform” rating and set a $70.00 price target for the company in a research report on Tuesday, September 19th. Stifel Nicolaus decreased their target price on shares of Rexford Industrial Realty from $60.00 to $56.00 and set a “buy” rating for the company in a research note on Thursday, October 19th. StockNews.com assumed coverage on shares of Rexford Industrial Realty in a research note on Thursday, October 5th. They issued a “sell” rating on the stock. Scotiabank raised Rexford Industrial Realty from a “sector perform” rating to a “sector outperform” rating and set a $55.00 price objective for the company in a research report on Wednesday, November 8th. Finally, Truist Financial cut their price target on Rexford Industrial Realty from $56.00 to $49.00 and set a “buy” rating for the company in a research note on Monday, October 23rd. One research analyst has rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, Rexford Industrial Realty currently has an average rating of “Hold” and an average price target of $57.38.

Rexford Industrial Realty 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.