Phocas Financial Corp. Has $1.85 Million Position in Rexford Industrial Realty, Inc. (NYSE:REXR)

Phocas Financial Corp. lessened its holdings in shares of Rexford Industrial Realty, Inc. (NYSE:REXR) by 28.9% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 32,994 shares of the real estate investment trust’s stock after selling 13,434 shares during the quarter. Phocas Financial Corp.’s holdings in Rexford Industrial Realty were worth $1,851,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Norges Bank acquired a new position in shares of Rexford Industrial Realty during the 4th quarter valued at about $283,319,000. Price T Rowe Associates Inc. MD boosted its position in Rexford Industrial Realty by 64.9% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 10,432,222 shares of the real estate investment trust’s stock worth $570,016,000 after purchasing an additional 4,107,405 shares during the period. Vanguard Group Inc. boosted its position in Rexford Industrial Realty by 7.5% during the first quarter. Vanguard Group Inc. now owns 22,698,814 shares of the real estate investment trust’s stock worth $1,693,104,000 after purchasing an additional 1,587,612 shares during the period. State Street Corp grew its holdings in Rexford Industrial Realty by 19.0% during the first quarter. State Street Corp now owns 8,626,789 shares of the real estate investment trust’s stock valued at $646,126,000 after purchasing an additional 1,375,680 shares during the last quarter. Finally, Deutsche Bank AG raised its position in shares of Rexford Industrial Realty by 61.0% in the first quarter. Deutsche Bank AG now owns 2,573,212 shares of the real estate investment trust’s stock valued at $153,492,000 after purchasing an additional 974,709 shares during the period. 99.52% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Rexford Industrial Realty

In related news, General Counsel David E. Lanzer sold 18,113 shares of the company’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $52.69, for a total value of $954,373.97. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 1.10% of the stock is owned by insiders.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. JPMorgan Chase & Co. downgraded shares of Rexford Industrial Realty from an “overweight” rating to a “neutral” rating and set a $55.00 price objective for the company. in a report on Wednesday, February 7th. TheStreet raised Rexford Industrial Realty from a “c+” rating to a “b-” rating in a research report on Thursday, February 1st. Robert W. Baird reissued a “neutral” rating and set a $61.00 price objective (up previously from $53.00) on shares of Rexford Industrial Realty in a research report on Friday, January 5th. Truist Financial lowered their target price on Rexford Industrial Realty from $61.00 to $57.00 and set a “buy” rating on the stock in a report on Thursday, February 15th. Finally, Barclays began coverage on Rexford Industrial Realty in a report on Wednesday, March 27th. They set an “underweight” rating and a $45.00 price target for the company. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $56.00.

Rexford Industrial Realty Stock Performance

Shares of NYSE REXR opened at $46.68 on Monday. The firm has a market capitalization of $10.04 billion, a price-to-earnings ratio of 41.68, a PEG ratio of 2.14 and a beta of 0.86. Rexford Industrial Realty, Inc. has a one year low of $41.56 and a one year high of $58.02. The business has a fifty day simple moving average of $51.12 and a 200 day simple moving average of $50.80. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 0.28.

Rexford Industrial Realty Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 15th. Stockholders of record on Thursday, March 28th will be paid a $0.4175 dividend. This is a boost from Rexford Industrial Realty’s previous quarterly dividend of $0.38. The ex-dividend date of this dividend is Wednesday, March 27th. This represents a $1.67 dividend on an annualized basis and a dividend yield of 3.58%. Rexford Industrial Realty’s dividend payout ratio is currently 149.11%.

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.