Cetera Trust Company N.A Takes Position in Rexford Industrial Realty, Inc. (NYSE:REXR)

Cetera Trust Company N.A bought a new position in shares of Rexford Industrial Realty, Inc. (NYSE:REXR) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 3,375 shares of the real estate investment trust’s stock, valued at approximately $189,000.

A number of other institutional investors have also added to or reduced their stakes in the company. Wetherby Asset Management Inc. increased its holdings in 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 buying an additional 196 shares during the last quarter. Eqis Capital Management Inc. increased its holdings in 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 buying an additional 202 shares during the last quarter. Lindbrook Capital LLC increased its holdings in Rexford Industrial Realty by 4.9% during the fourth quarter. Lindbrook Capital LLC now owns 5,554 shares of the real estate investment trust’s stock worth $312,000 after buying an additional 259 shares during the last quarter. IFP Advisors Inc increased its holdings in 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 buying an additional 290 shares during the last quarter. Finally, Jane Street Group LLC increased its holdings in 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 buying an additional 290 shares during the last quarter. 99.52% of the stock is currently owned by institutional investors and hedge funds.

Rexford Industrial Realty Trading Down 1.0 %

Shares of Rexford Industrial Realty stock opened at $42.74 on Monday. The firm has a 50-day moving average of $50.22 and a 200-day moving average of $50.63. The stock has a market cap of $9.31 billion, a PE ratio of 39.21, a PEG ratio of 1.89 and a beta of 0.86. Rexford Industrial Realty, Inc. has a 52-week low of $41.56 and a 52-week high of $58.02. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.35 and a current ratio of 3.21.

Rexford Industrial Realty (NYSE:REXR) last announced its earnings results on Thursday, April 18th. The real estate investment trust reported $0.27 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.30). The business had revenue of $214.10 million during the quarter, compared to the consensus estimate of $207.39 million. Rexford Industrial Realty had a net margin of 28.84% and a return on equity of 3.04%. The company’s revenue was up 15.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.52 EPS. As a group, sell-side analysts forecast that Rexford Industrial Realty, Inc. will post 2.33 EPS for the current year.

Rexford Industrial Realty Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Friday, June 28th will be paid a $0.417 dividend. This represents a $1.67 dividend on an annualized basis and a yield of 3.90%. The ex-dividend date of this dividend is Friday, June 28th. Rexford Industrial Realty’s dividend payout ratio (DPR) is presently 153.21%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Truist Financial lowered their target price on shares of Rexford Industrial Realty from $57.00 to $53.00 and set a “buy” rating on the stock in a report on Tuesday, April 16th. Wedbush began coverage on shares of Rexford Industrial Realty in a research report on Monday. They set a “neutral” rating and a $45.00 price objective for the company. TheStreet raised shares of Rexford Industrial Realty from a “c+” rating to a “b-” rating in a research report on Thursday, February 1st. Robert W. Baird reaffirmed a “neutral” rating and set a $61.00 price objective (up from $53.00) on shares of Rexford Industrial Realty in a research report on Friday, January 5th. Finally, Barclays began coverage on shares of Rexford Industrial Realty in a research report on Wednesday, March 27th. They set an “underweight” rating and a $45.00 price objective for the company. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $54.64.

Insider Activity at Rexford Industrial Realty

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

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.