Twin Capital Management Inc. Has $748,000 Stake in Rexford Industrial Realty, Inc. (NYSE:REXR)

Twin Capital Management Inc. trimmed its holdings in shares of Rexford Industrial Realty, Inc. (NYSE:REXR) by 3.7% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,332 shares of the real estate investment trust’s stock after selling 513 shares during the period. Twin Capital Management Inc.’s holdings in Rexford Industrial Realty were worth $748,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Envestnet Asset Management Inc. increased its stake in shares of Rexford Industrial Realty by 139.5% in the 3rd quarter. Envestnet Asset Management Inc. now owns 232,848 shares of the real estate investment trust’s stock valued at $11,491,000 after buying an additional 135,627 shares during the period. Pacer Advisors Inc. increased its stake in shares of Rexford Industrial Realty by 12.8% in the 4th quarter. Pacer Advisors Inc. now owns 207,609 shares of the real estate investment trust’s stock valued at $11,647,000 after buying an additional 23,510 shares during the period. Louisiana State Employees Retirement System acquired a new stake in shares of Rexford Industrial Realty in the 4th quarter valued at $3,327,000. The Manufacturers Life Insurance Company increased its stake in shares of Rexford Industrial Realty by 6.8% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 314,170 shares of the real estate investment trust’s stock valued at $15,506,000 after buying an additional 19,981 shares during the period. Finally, Citigroup Inc. increased its stake in shares of Rexford Industrial Realty by 63.9% in the 3rd quarter. Citigroup Inc. now owns 104,103 shares of the real estate investment trust’s stock valued at $5,137,000 after buying an additional 40,587 shares during the period. 99.52% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

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 stock was sold at an average price of $52.69, for a total transaction of $954,373.97. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.10% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. JPMorgan Chase & Co. cut Rexford Industrial Realty from an “overweight” rating to a “neutral” rating and set a $55.00 price objective for the company. in a research note on Wednesday, February 7th. TheStreet raised Rexford Industrial Realty from a “c+” rating to a “b-” rating in a research note 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 note on Friday, January 5th. Barclays assumed coverage on Rexford Industrial Realty in a research note on Wednesday, March 27th. They set an “underweight” rating and a $45.00 price objective for the company. Finally, Truist Financial decreased their price objective on Rexford Industrial Realty from $57.00 to $53.00 and set a “buy” rating for the company in a research note on Tuesday. Two 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’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $55.60.

Rexford Industrial Realty Stock Performance

Shares of Rexford Industrial Realty stock opened at $42.74 on Friday. The firm has a market cap of $9.31 billion, a price-to-earnings ratio of 39.21, a price-to-earnings-growth ratio of 1.91 and a beta of 0.86. The stock’s 50-day moving average is $50.42 and its 200-day moving average is $50.63. Rexford Industrial Realty, Inc. has a one year low of $41.56 and a one year high of $58.02. The company has a debt-to-equity ratio of 0.41, a current ratio of 3.21 and a quick ratio of 1.35.

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

Rexford Industrial Realty Cuts Dividend

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

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.