WCM Investment Management LLC trimmed its position in Rexford Industrial Realty Inc (NYSE:REXR) by 2.1% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 40,040 shares of the real estate investment trust’s stock after selling 867 shares during the period. WCM Investment Management LLC’s holdings in Rexford Industrial Realty were worth $1,617,000 at the end of the most recent quarter.
Several other institutional investors have also recently modified their holdings of the company. Quantamental Technologies LLC acquired a new stake in shares of Rexford Industrial Realty in the first quarter valued at about $60,000. Quadrant Capital Group LLC acquired a new position in Rexford Industrial Realty during the first quarter worth approximately $69,000. Whittier Trust Co. increased its position in Rexford Industrial Realty by 96.5% during the second quarter. Whittier Trust Co. now owns 2,335 shares of the real estate investment trust’s stock worth $94,000 after buying an additional 1,147 shares during the last quarter. NEXT Financial Group Inc increased its position in Rexford Industrial Realty by 58.3% during the second quarter. NEXT Financial Group Inc now owns 2,483 shares of the real estate investment trust’s stock worth $100,000 after buying an additional 914 shares during the last quarter. Finally, Nisa Investment Advisors LLC increased its position in Rexford Industrial Realty by 289.0% during the first quarter. Nisa Investment Advisors LLC now owns 5,835 shares of the real estate investment trust’s stock worth $209,000 after buying an additional 4,335 shares during the last quarter. Institutional investors own 94.26% of the company’s stock.
Shares of REXR stock traded down $0.66 during trading on Friday, hitting $43.02. The company had a trading volume of 15,454 shares, compared to its average volume of 727,581. The company has a debt-to-equity ratio of 0.34, a quick ratio of 7.17 and a current ratio of 7.17. The firm has a market capitalization of $4.79 billion, a P/E ratio of 38.50, a price-to-earnings-growth ratio of 4.96 and a beta of 0.83. The stock’s 50-day moving average price is $41.97 and its 200 day moving average price is $38.19. Rexford Industrial Realty Inc has a one year low of $28.17 and a one year high of $44.03.
Rexford Industrial Realty (NYSE:REXR) last issued its quarterly earnings results on Tuesday, July 30th. The real estate investment trust reported $0.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.29 by ($0.17). The company had revenue of $63.60 million during the quarter, compared to the consensus estimate of $63.33 million. Rexford Industrial Realty had a net margin of 21.02% and a return on equity of 2.63%. The company’s quarterly revenue was up 23.3% on a year-over-year basis. During the same quarter last year, the firm posted $0.27 earnings per share. On average, research analysts anticipate that Rexford Industrial Realty Inc will post 1.21 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 30th will be paid a $0.185 dividend. This represents a $0.74 annualized dividend and a dividend yield of 1.72%. The ex-dividend date of this dividend is Friday, September 27th. Rexford Industrial Realty’s dividend payout ratio (DPR) is currently 66.07%.
In related news, CEO Howard Schwimmer sold 23,600 shares of the business’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $41.70, for a total value of $984,120.00. Following the completion of the sale, the chief executive officer now directly owns 68,958 shares in the company, valued at $2,875,548.60. The sale was disclosed in a filing with the SEC, which is available at this link. Insiders own 1.70% of the company’s stock.
Several research firms have recently commented on REXR. Zacks Investment Research downgraded Rexford Industrial Realty from a “buy” rating to a “hold” rating in a research report on Thursday, July 11th. Stifel Nicolaus upped their target price on Rexford Industrial Realty from $41.00 to $46.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Three analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $42.67.
Rexford Industrial Realty Profile
Rexford Industrial is a real estate investment trust focused on owning and operating industrial properties in Southern California infill markets. The Company owns 179 properties with approximately 22.1 million rentable square feet and manages an additional 20 properties with approximately 1.2 million rentable square feet.
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