Highline Wealth Partners LLC Sells 1,600 Shares of Rexford Industrial Realty, Inc. (NYSE:REXR)

Highline Wealth Partners LLC reduced its stake in Rexford Industrial Realty, Inc. (NYSE:REXR) by 45.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,927 shares of the real estate investment trust’s stock after selling 1,600 shares during the period. Highline Wealth Partners LLC’s holdings in Rexford Industrial Realty were worth $74,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in REXR. UMB Bank n.a. grew its position in shares of Rexford Industrial Realty by 164.3% during the 3rd quarter. UMB Bank n.a. now owns 719 shares of the real estate investment trust’s stock valued at $36,000 after purchasing an additional 447 shares in the last quarter. Headlands Technologies LLC bought a new position in Rexford Industrial Realty in the 2nd quarter worth about $41,000. GAMMA Investing LLC raised its holdings in shares of Rexford Industrial Realty by 111.7% in the 3rd quarter. GAMMA Investing LLC now owns 1,850 shares of the real estate investment trust’s stock valued at $93,000 after acquiring an additional 976 shares in the last quarter. Archer Investment Corp grew its holdings in shares of Rexford Industrial Realty by 61.5% during the third quarter. Archer Investment Corp now owns 2,100 shares of the real estate investment trust’s stock worth $106,000 after purchasing an additional 800 shares in the last quarter. Finally, Catalyst Capital Advisors LLC bought a new position in shares of Rexford Industrial Realty in the third quarter worth approximately $129,000. 99.52% of the stock is currently owned by hedge funds and other institutional investors.

Rexford Industrial Realty Trading Down 3.0 %

NYSE:REXR traded down $1.13 during midday trading on Friday, reaching $37.12. 861,272 shares of the stock traded hands, compared to its average volume of 1,427,286. The stock has a market capitalization of $8.26 billion, a P/E ratio of 30.18, a PEG ratio of 1.94 and a beta of 0.95. Rexford Industrial Realty, Inc. has a 12 month low of $37.06 and a 12 month high of $56.14. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.20 and a current ratio of 1.20. The company has a fifty day moving average of $40.76 and a 200 day moving average of $45.83.

Rexford Industrial Realty (NYSE:REXR) last announced its quarterly earnings results on Wednesday, October 16th. The real estate investment trust reported $0.30 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.28). The business had revenue of $241.84 million for the quarter, compared to analysts’ expectations of $235.81 million. Rexford Industrial Realty had a net margin of 30.40% and a return on equity of 3.35%. The firm’s revenue for the quarter was up 17.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.56 EPS. On average, research analysts predict that Rexford Industrial Realty, Inc. will post 2.34 EPS for the current year.

Rexford Industrial Realty Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be given a dividend of $0.4175 per share. This represents a $1.67 dividend on an annualized basis and a yield of 4.50%. The ex-dividend date of this dividend is Tuesday, December 31st. Rexford Industrial Realty’s payout ratio is currently 135.77%.

Wall Street Analyst Weigh In

A number of research firms have commented on REXR. Truist Financial cut their price target on shares of Rexford Industrial Realty from $54.00 to $50.00 and set a “buy” rating for the company in a research note on Tuesday, November 12th. Scotiabank cut Rexford Industrial Realty from a “sector outperform” rating to a “sector perform” rating and reduced their target price for the company from $55.00 to $48.00 in a research note on Friday, October 25th. Mizuho dropped their price target on Rexford Industrial Realty from $46.00 to $45.00 and set a “neutral” rating for the company in a research note on Wednesday. StockNews.com lowered Rexford Industrial Realty from a “hold” rating to a “sell” rating in a research report on Monday, October 21st. Finally, Evercore ISI restated an “outperform” rating on shares of Rexford Industrial Realty in a research report on Friday, October 18th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $50.73.

Rexford Industrial Realty Company 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.