First Heartland Consultants Inc. Lowers Stock Holdings in Rexford Industrial Realty, Inc. (NYSE:REXR)

First Heartland Consultants Inc. cut its holdings in shares of Rexford Industrial Realty, Inc. (NYSE:REXR - Free Report) by 79.0% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,311 shares of the real estate investment trust's stock after selling 19,991 shares during the period. First Heartland Consultants Inc.'s holdings in Rexford Industrial Realty were worth $267,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Fulton Bank N.A. lifted its position in Rexford Industrial Realty by 4.7% in the 3rd quarter. Fulton Bank N.A. now owns 5,038 shares of the real estate investment trust's stock worth $253,000 after buying an additional 224 shares in the last quarter. Inspire Investing LLC increased its stake in Rexford Industrial Realty by 4.9% during the first quarter. Inspire Investing LLC now owns 7,126 shares of the real estate investment trust's stock valued at $358,000 after acquiring an additional 331 shares during the period. Hennion & Walsh Asset Management Inc. raised its stake in shares of Rexford Industrial Realty by 2.4% in the second quarter. Hennion & Walsh Asset Management Inc. now owns 14,641 shares of the real estate investment trust's stock valued at $653,000 after purchasing an additional 337 shares in the last quarter. Victory Capital Management Inc. lifted its position in Rexford Industrial Realty by 0.8% in the second quarter. Victory Capital Management Inc. now owns 46,066 shares of the real estate investment trust's stock worth $2,054,000 after purchasing an additional 345 shares during the period. Finally, Massmutual Trust Co. FSB ADV boosted its stake in Rexford Industrial Realty by 169.4% during the second quarter. Massmutual Trust Co. FSB ADV now owns 555 shares of the real estate investment trust's stock worth $25,000 after buying an additional 349 shares in the last quarter. 99.52% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CFO Laura E. Clark sold 14,185 shares of the firm's stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $50.15, for a total value of $711,377.75. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 1.20% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on REXR shares. Scotiabank lowered Rexford Industrial Realty from a "sector outperform" rating to a "sector perform" rating and lowered their price objective for the company from $55.00 to $48.00 in a research note on Friday, October 25th. Evercore ISI reaffirmed an "outperform" rating on shares of Rexford Industrial Realty in a research note on Friday, October 18th. Truist Financial cut their price objective on Rexford Industrial Realty from $54.00 to $50.00 and set a "buy" rating for the company in a report on Tuesday. StockNews.com cut shares of Rexford Industrial Realty from a "hold" rating to a "sell" rating in a research note on Monday, October 21st. Finally, Bank of America lowered Rexford Industrial Realty from a "buy" rating to a "neutral" rating and decreased their price target for the company from $66.00 to $49.00 in a research note on Monday, October 21st. Two 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 company. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $51.09.

Rexford Industrial Realty Stock Performance

NYSE REXR traded down $0.12 during trading on Thursday, hitting $41.74. 2,172,166 shares of the company's stock traded hands, compared to its average volume of 1,729,770. Rexford Industrial Realty, Inc. has a 12-month low of $41.16 and a 12-month high of $58.02. The stock has a market capitalization of $9.28 billion, a price-to-earnings ratio of 33.93, a PEG ratio of 1.98 and a beta of 0.94. 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 business has a 50 day moving average of $47.24 and a 200-day moving average of $47.07.

Rexford Industrial Realty (NYSE:REXR - Get Free Report) last released its quarterly earnings results on Wednesday, October 16th. The real estate investment trust reported $0.30 earnings per share for the quarter, missing the consensus estimate of $0.58 by ($0.28). The business had revenue of $241.84 million during 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 business's revenue was up 17.7% on a year-over-year basis. During the same period in the previous year, the business earned $0.56 EPS. As a group, equities research analysts anticipate that Rexford Industrial Realty, Inc. will post 2.34 earnings per share for the current fiscal year.

Rexford Industrial Realty Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be paid a $0.4175 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $1.67 dividend on an annualized basis and a dividend yield of 4.00%. Rexford Industrial Realty's dividend payout ratio (DPR) is 135.77%.

About Rexford Industrial Realty

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.