Nicola Wealth Management LTD. Sells 6,300 Shares of Rexford Industrial Realty, Inc. (NYSE:REXR)

Nicola Wealth Management LTD. lowered its stake in shares of Rexford Industrial Realty, Inc. (NYSE:REXR - Free Report) by 22.3% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 22,010 shares of the real estate investment trust's stock after selling 6,300 shares during the quarter. Nicola Wealth Management LTD.'s holdings in Rexford Industrial Realty were worth $851,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of REXR. UMB Bank n.a. lifted its holdings in Rexford Industrial Realty by 38.9% in the fourth quarter. UMB Bank n.a. now owns 999 shares of the real estate investment trust's stock valued at $39,000 after buying an additional 280 shares during the period. IHT Wealth Management LLC lifted its stake in shares of Rexford Industrial Realty by 4.8% in the 3rd quarter. IHT Wealth Management LLC now owns 6,451 shares of the real estate investment trust's stock valued at $325,000 after purchasing an additional 296 shares during the period. CIBC Asset Management Inc boosted its position in shares of Rexford Industrial Realty by 5.7% in the 4th quarter. CIBC Asset Management Inc now owns 6,572 shares of the real estate investment trust's stock worth $254,000 after purchasing an additional 355 shares during the last quarter. Exchange Traded Concepts LLC boosted its position in shares of Rexford Industrial Realty by 13.2% in the 4th quarter. Exchange Traded Concepts LLC now owns 3,172 shares of the real estate investment trust's stock worth $123,000 after purchasing an additional 371 shares during the last quarter. Finally, M&T Bank Corp grew its stake in shares of Rexford Industrial Realty by 1.5% during the third quarter. M&T Bank Corp now owns 29,225 shares of the real estate investment trust's stock worth $1,470,000 after purchasing an additional 442 shares during the period. 99.52% of the stock is owned by institutional investors.

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Rexford Industrial Realty Stock Down 0.7 %

Shares of NYSE REXR traded down $0.27 during midday trading on Friday, hitting $40.47. 2,364,480 shares of the stock traded hands, compared to its average volume of 2,008,309. Rexford Industrial Realty, Inc. has a one year low of $36.92 and a one year high of $53.88. The business has a 50 day moving average price of $39.95 and a two-hundred day moving average price of $43.70. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.30 and a current ratio of 1.30. The company has a market cap of $9.23 billion, a PE ratio of 33.45, a P/E/G ratio of 2.62 and a beta of 0.98.

Rexford Industrial Realty (NYSE:REXR - Get Free Report) last issued its quarterly earnings data on Wednesday, February 5th. The real estate investment trust reported $0.58 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.27 by $0.31. Rexford Industrial Realty had a net margin of 29.10% and a return on equity of 3.26%. On average, equities analysts predict that Rexford Industrial Realty, Inc. will post 2.38 EPS for the current year.

Rexford Industrial Realty Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be given a $0.43 dividend. This is a positive change from Rexford Industrial Realty's previous quarterly dividend of $0.42. This represents a $1.72 dividend on an annualized basis and a yield of 4.25%. The ex-dividend date of this dividend is Monday, March 31st. Rexford Industrial Realty's dividend payout ratio is presently 142.15%.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. Barclays reduced their target price on Rexford Industrial Realty from $44.00 to $41.00 and set an "underweight" rating on the stock in a report on Monday, January 13th. Scotiabank lowered their target price on shares of Rexford Industrial Realty from $48.00 to $47.00 and set a "sector perform" rating for the company in a research note on Friday, February 28th. Truist Financial reduced their price target on shares of 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. Deutsche Bank Aktiengesellschaft started coverage on shares of Rexford Industrial Realty in a research report on Tuesday, January 14th. They issued a "hold" rating and a $40.00 price objective for the company. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Rexford Industrial Realty from $45.00 to $44.00 and set a "neutral" rating for the company in a research report on Thursday, February 13th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $48.50.

Rexford Industrial Realty Profile

Rexford Industrial Realty, Inc is a self-administered and self-managed real estate investment trust, which engages in owning and operating industrial properties in infill markets. The company was founded by Richard S. Ziman on January 18, 2013 and is headquartered in Los Angeles, CA.