Sun Life Financial Inc. Sells 100,276 Shares of Rexford Industrial Realty, Inc. (NYSE:REXR)

Sun Life Financial Inc. decreased its position in Rexford Industrial Realty, Inc. (NYSE:REXR - Free Report) by 40.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 149,578 shares of the real estate investment trust's stock after selling 100,276 shares during the quarter. Rexford Industrial Realty comprises approximately 0.4% of Sun Life Financial Inc.'s holdings, making the stock its 26th largest position. Sun Life Financial Inc. owned approximately 0.07% of Rexford Industrial Realty worth $7,525,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of REXR. Fulton Bank N.A. boosted its stake in shares of Rexford Industrial Realty by 4.7% during the 3rd quarter. Fulton Bank N.A. now owns 5,038 shares of the real estate investment trust's stock worth $253,000 after acquiring an additional 224 shares in the last quarter. Inspire Investing LLC boosted its position in shares of Rexford Industrial Realty by 4.9% in the 1st quarter. Inspire Investing LLC now owns 7,126 shares of the real estate investment trust's stock valued at $358,000 after purchasing an additional 331 shares during the period. Hennion & Walsh Asset Management Inc. increased its stake in Rexford Industrial Realty by 2.4% in the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 14,641 shares of the real estate investment trust's stock worth $653,000 after purchasing an additional 337 shares in the last quarter. Victory Capital Management Inc. raised its holdings in Rexford Industrial Realty by 0.8% during the 2nd quarter. Victory Capital Management Inc. now owns 46,066 shares of the real estate investment trust's stock worth $2,054,000 after buying an additional 345 shares during the period. Finally, Massmutual Trust Co. FSB ADV lifted 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 valued at $25,000 after buying an additional 349 shares in the last quarter. Institutional investors own 99.52% of the company's stock.

Rexford Industrial Realty Stock Up 2.1 %

NYSE:REXR traded up $0.90 during trading hours on Monday, reaching $44.25. The company's stock had a trading volume of 2,137,178 shares, compared to its average volume of 1,719,424. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.20 and a quick ratio of 1.20. The company has a market cap of $9.64 billion, a price-to-earnings ratio of 40.48, a price-to-earnings-growth ratio of 2.07 and a beta of 0.93. Rexford Industrial Realty, Inc. has a one year low of $41.68 and a one year high of $58.02. The business's 50-day moving average is $49.36 and its 200-day moving average is $47.18.

Rexford Industrial Realty (NYSE:REXR - Get Free Report) last announced 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). The company had revenue of $241.84 million during the quarter, compared to analyst estimates of $235.81 million. Rexford Industrial Realty had a return on equity of 3.35% and a net margin of 30.40%. Rexford Industrial Realty's quarterly revenue was up 17.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.56 EPS. Equities research analysts predict that Rexford Industrial Realty, Inc. will post 2.34 EPS for the current year.

Rexford Industrial Realty Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be issued a $0.4175 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $1.67 annualized dividend and a yield of 3.77%. Rexford Industrial Realty's dividend payout ratio (DPR) is presently 153.21%.

Analyst Upgrades and Downgrades

REXR has been the topic of several analyst reports. Industrial Alliance Securities set a $55.00 target price on shares of Rexford Industrial Realty in a research report on Friday, October 18th. StockNews.com downgraded shares of Rexford Industrial Realty from a "hold" rating to a "sell" rating in a research note on Monday, October 21st. Scotiabank cut Rexford Industrial Realty from a "sector outperform" rating to a "sector perform" rating and decreased their target price for the stock from $55.00 to $48.00 in a research report on Friday. JPMorgan Chase & Co. upped their price target on Rexford Industrial Realty from $47.00 to $52.00 and gave the company a "neutral" rating in a research report on Thursday, July 25th. Finally, Truist Financial raised their price objective on Rexford Industrial Realty from $50.00 to $54.00 and gave the stock a "buy" rating in a research report on Tuesday, July 30th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $51.45.

Insiders Place Their Bets

In other Rexford Industrial Realty news, CFO Laura E. Clark sold 14,185 shares of the firm's stock in a transaction that occurred on 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 document filed with the SEC, which is accessible through the SEC website. Company insiders own 1.20% of the company's stock.

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.