KBC Group NV Sells 47,410 Shares of Rexford Industrial Realty, Inc. (NYSE:REXR)

KBC Group NV lowered its holdings in Rexford Industrial Realty, Inc. (NYSE:REXR - Free Report) by 89.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,681 shares of the real estate investment trust's stock after selling 47,410 shares during the quarter. KBC Group NV's holdings in Rexford Industrial Realty were worth $286,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. Massmutual Trust Co. FSB ADV lifted its holdings in shares of 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 valued at $25,000 after acquiring an additional 349 shares during the period. V Square Quantitative Management LLC bought a new position in Rexford Industrial Realty during the 2nd quarter valued at about $26,000. UMB Bank n.a. boosted its position in Rexford Industrial Realty by 164.3% in the third quarter. UMB Bank n.a. now owns 719 shares of the real estate investment trust's stock valued at $36,000 after buying an additional 447 shares in the last quarter. Headlands Technologies LLC bought a new stake in Rexford Industrial Realty during the second quarter worth about $41,000. Finally, EverSource Wealth Advisors LLC increased its holdings in shares of Rexford Industrial Realty by 1,252.2% during the first quarter. EverSource Wealth Advisors LLC now owns 933 shares of the real estate investment trust's stock worth $47,000 after buying an additional 864 shares in the last quarter. Institutional investors and hedge funds own 99.52% of the company's stock.

Rexford Industrial Realty Trading Down 1.3 %

Shares of REXR traded down $0.54 on Wednesday, reaching $42.41. 175,067 shares of the company's stock were exchanged, compared to its average volume of 1,722,327. 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 $9.43 billion, a P/E ratio of 34.48, a price-to-earnings-growth ratio of 2.01 and a beta of 0.94. The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 0.40. The business has a 50 day moving average price of $46.63 and a two-hundred day moving average price of $47.07.

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

Rexford Industrial Realty Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be given a dividend of $0.4175 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $1.67 annualized dividend and a dividend yield of 3.94%. Rexford Industrial Realty's payout ratio is currently 135.77%.

Analyst Ratings Changes

REXR has been the topic of a number of research analyst reports. Truist Financial decreased their price target on Rexford Industrial Realty from $54.00 to $50.00 and set a "buy" rating on the stock in a research report on Tuesday, November 12th. Scotiabank lowered Rexford Industrial Realty from a "sector outperform" rating to a "sector perform" rating and lowered their target price 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 report on Friday, October 18th. Wells Fargo & Company decreased their price objective on shares of Rexford Industrial Realty from $66.00 to $61.00 and set an "overweight" rating on the stock in a report on Wednesday, August 28th. Finally, StockNews.com downgraded shares of Rexford Industrial Realty from a "hold" rating to a "sell" rating in a research note on Monday, October 21st. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $51.09.

Insider Activity

In other news, CFO Laura E. Clark sold 14,185 shares of Rexford Industrial Realty 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 SEC, which is available through this link. 1.20% of the stock is currently owned by company insiders.

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.