Sumitomo Mitsui Trust Holdings Inc. Has $63.88 Million Stake in Rexford Industrial Realty, Inc. (NYSE:REXR)

Sumitomo Mitsui Trust Holdings Inc. trimmed its position in shares of Rexford Industrial Realty, Inc. (NYSE:REXR) by 24.8% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,138,625 shares of the real estate investment trust’s stock after selling 374,717 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc. owned 0.54% of Rexford Industrial Realty worth $63,877,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. Wetherby Asset Management Inc. raised its position in shares of Rexford Industrial Realty by 2.9% during the first quarter. Wetherby Asset Management Inc. now owns 6,932 shares of the real estate investment trust’s stock worth $517,000 after purchasing an additional 196 shares during the period. Eqis Capital Management Inc. raised its position in shares of Rexford Industrial Realty by 3.2% during the fourth quarter. Eqis Capital Management Inc. now owns 6,604 shares of the real estate investment trust’s stock worth $361,000 after purchasing an additional 202 shares during the period. IFP Advisors Inc raised its position in shares of Rexford Industrial Realty by 7.0% during the second quarter. IFP Advisors Inc now owns 4,458 shares of the real estate investment trust’s stock worth $233,000 after purchasing an additional 290 shares during the period. Jane Street Group LLC raised its position in shares of Rexford Industrial Realty by 5.2% during the second quarter. Jane Street Group LLC now owns 5,885 shares of the real estate investment trust’s stock worth $339,000 after purchasing an additional 290 shares during the period. Finally, Xponance Inc. raised its position in shares of Rexford Industrial Realty by 1.5% during the third quarter. Xponance Inc. now owns 24,917 shares of the real estate investment trust’s stock worth $1,230,000 after purchasing an additional 359 shares during the period. 99.52% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Rexford Industrial Realty

In other Rexford Industrial Realty news, General Counsel David E. Lanzer sold 18,113 shares of the firm’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $52.69, for a total value of $954,373.97. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 1.10% of the stock is owned by corporate insiders.

Rexford Industrial Realty Stock Up 2.2 %

REXR stock opened at $43.19 on Friday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.35 and a current ratio of 1.35. The company has a market capitalization of $9.41 billion, a price-to-earnings ratio of 39.62, a PEG ratio of 1.85 and a beta of 0.86. Rexford Industrial Realty, Inc. has a fifty-two week low of $41.56 and a fifty-two week high of $58.02. The stock has a fifty day moving average of $50.62 and a 200-day moving average of $50.68.

Rexford Industrial Realty (NYSE:REXR) last posted its quarterly earnings results on Wednesday, April 17th. The real estate investment trust reported $0.27 earnings per share for the quarter, missing the consensus estimate of $0.57 by ($0.30). The firm had revenue of $214.10 million for the quarter, compared to the consensus estimate of $207.39 million. Rexford Industrial Realty had a return on equity of 3.10% and a net margin of 28.84%. The firm’s revenue was up 15.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.52 EPS. As a group, equities research analysts predict that Rexford Industrial Realty, Inc. will post 2.35 earnings per share for the current year.

Rexford Industrial Realty Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Thursday, March 28th were paid a dividend of $0.4175 per share. This is an increase from Rexford Industrial Realty’s previous quarterly dividend of $0.38. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $1.67 annualized dividend and a dividend yield of 3.87%. Rexford Industrial Realty’s dividend payout ratio is presently 153.21%.

Analyst Upgrades and Downgrades

REXR has been the subject of a number of analyst reports. TheStreet raised Rexford Industrial Realty from a “c+” rating to a “b-” rating in a research report on Thursday, February 1st. Barclays initiated coverage on Rexford Industrial Realty in a research report on Wednesday, March 27th. They issued an “underweight” rating and a $45.00 price target for the company. Truist Financial lowered their price target on Rexford Industrial Realty from $57.00 to $53.00 and set a “buy” rating for the company in a research report on Tuesday. Robert W. Baird reissued a “neutral” rating and issued a $61.00 price target (up from $53.00) on shares of Rexford Industrial Realty in a research report on Friday, January 5th. Finally, JPMorgan Chase & Co. lowered Rexford Industrial Realty from an “overweight” rating to a “neutral” rating and set a $55.00 price target for the company. in a research report on Wednesday, February 7th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $55.60.

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.