Metis Global Partners LLC Buys 5,295 Shares of Rexford Industrial Realty, Inc. (NYSE:REXR)

Metis Global Partners LLC grew its stake in Rexford Industrial Realty, Inc. (NYSE:REXR) by 30.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 22,547 shares of the real estate investment trust’s stock after purchasing an additional 5,295 shares during the period. Metis Global Partners LLC’s holdings in Rexford Industrial Realty were worth $1,134,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of the stock. Vanguard Group Inc. grew its stake in shares of Rexford Industrial Realty by 2.6% in the 1st quarter. Vanguard Group Inc. now owns 29,734,952 shares of the real estate investment trust’s stock valued at $1,495,668,000 after purchasing an additional 753,098 shares during the period. Price T Rowe Associates Inc. MD grew its stake in shares of Rexford Industrial Realty by 26.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 19,933,431 shares of the real estate investment trust’s stock valued at $1,002,654,000 after purchasing an additional 4,197,907 shares during the period. Capital International Investors grew its stake in shares of Rexford Industrial Realty by 687.7% in the 1st quarter. Capital International Investors now owns 19,590,676 shares of the real estate investment trust’s stock valued at $985,411,000 after purchasing an additional 17,103,653 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of Rexford Industrial Realty by 6.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,326,694 shares of the real estate investment trust’s stock valued at $148,337,000 after purchasing an additional 200,027 shares during the period. Finally, Canada Pension Plan Investment Board grew its stake in shares of Rexford Industrial Realty by 41.9% in the 2nd quarter. Canada Pension Plan Investment Board now owns 3,175,465 shares of the real estate investment trust’s stock valued at $141,594,000 after purchasing an additional 938,177 shares during the period. 99.52% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms have recently weighed in on REXR. Industrial Alliance Securities set a $55.00 price objective on Rexford Industrial Realty in a research note on Friday, October 18th. Bank of America downgraded Rexford Industrial Realty from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $66.00 to $49.00 in a report on Monday, October 21st. Scotiabank downgraded Rexford Industrial Realty from a “sector outperform” rating to a “sector perform” rating and reduced their target price for the stock from $55.00 to $48.00 in a report on Friday, October 25th. Truist Financial reduced their target price on Rexford Industrial Realty from $54.00 to $50.00 and set a “buy” rating on the stock in a report on Tuesday, November 12th. Finally, Wells Fargo & Company reduced their target price on Rexford Industrial Realty from $66.00 to $61.00 and set an “overweight” rating on the stock in a report on Wednesday, August 28th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $51.09.

Insider Buying and Selling at Rexford Industrial Realty

In other Rexford Industrial Realty news, CFO Laura E. Clark sold 14,185 shares of the company’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $50.15, for a total transaction of $711,377.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 1.20% of the company’s stock.

Rexford Industrial Realty Stock Up 0.6 %

NYSE:REXR opened at $42.01 on Friday. The stock’s fifty day moving average price is $46.92 and its two-hundred day moving average price is $47.05. Rexford Industrial Realty, Inc. has a 52-week low of $41.16 and a 52-week high of $58.02. 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 market cap of $9.34 billion, a price-to-earnings ratio of 34.15, a P/E/G ratio of 2.00 and a beta of 0.94.

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

Rexford Industrial Realty Announces Dividend

The firm also recently announced 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 annualized dividend and a dividend yield of 3.98%. The ex-dividend date of this dividend is Tuesday, December 31st. Rexford Industrial Realty’s payout ratio is 135.77%.

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.