Duff & Phelps Investment Management Co. Trims Stake in Rexford Industrial Realty, Inc. (NYSE:REXR)

Duff & Phelps Investment Management Co. trimmed its holdings in Rexford Industrial Realty, Inc. (NYSE:REXR - Free Report) by 0.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,073,135 shares of the real estate investment trust's stock after selling 19,528 shares during the period. Rexford Industrial Realty accounts for about 1.2% of Duff & Phelps Investment Management Co.'s portfolio, making the stock its 29th biggest holding. Duff & Phelps Investment Management Co. owned approximately 0.93% of Rexford Industrial Realty worth $104,299,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. V Square Quantitative Management LLC bought a new position in Rexford Industrial Realty in the 2nd quarter valued at approximately $26,000. UMB Bank n.a. grew its stake 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 acquiring an additional 447 shares during the period. Headlands Technologies LLC bought a new position in Rexford Industrial Realty in the 2nd quarter valued at about $41,000. CWM LLC lifted its stake in Rexford Industrial Realty by 73.9% during the 2nd quarter. CWM LLC now owns 1,485 shares of the real estate investment trust's stock valued at $66,000 after acquiring an additional 631 shares in the last quarter. Finally, Fifth Third Bancorp grew its position in Rexford Industrial Realty by 42.4% in the 2nd quarter. Fifth Third Bancorp now owns 1,741 shares of the real estate investment trust's stock worth $78,000 after purchasing an additional 518 shares in the last quarter. Institutional investors and hedge funds own 99.52% of the company's stock.

Insider Transactions at Rexford Industrial Realty

In other news, CFO Laura E. Clark sold 14,185 shares of Rexford Industrial Realty stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $50.15, for a total transaction of $711,377.75. The transaction was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 1.20% of the company's stock.

Analyst Ratings Changes

A number of brokerages have issued reports on REXR. Mizuho lowered their target price on shares of Rexford Industrial Realty from $50.00 to $49.00 and set a "neutral" rating on the stock in a report on Thursday, September 5th. StockNews.com cut Rexford Industrial Realty from a "hold" rating to a "sell" rating in a report on Monday, October 21st. Evercore ISI reaffirmed an "outperform" rating on shares of Rexford Industrial Realty in a report on Friday, October 18th. Wells Fargo & Company lowered their price target 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, Industrial Alliance Securities set a $55.00 price target on Rexford Industrial Realty in a research report on Friday, October 18th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $51.09.

Rexford Industrial Realty Trading Up 4.2 %

REXR traded up $1.68 on Monday, hitting $41.71. The company had a trading volume of 4,115,206 shares, compared to its average volume of 1,743,287. The business's fifty day simple moving average is $44.26 and its 200 day simple moving average is $46.75. Rexford Industrial Realty, Inc. has a 12-month low of $39.85 and a 12-month high of $58.02. The company has a market cap of $9.28 billion, a PE ratio of 32.54, a PEG ratio of 1.90 and a beta of 0.93. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 0.40.

Rexford Industrial Realty (NYSE:REXR - Get Free Report) last issued its earnings results 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 business had revenue of $241.84 million for the quarter, compared to the consensus estimate of $235.81 million. During the same quarter in the previous year, the company earned $0.56 earnings per share. The firm's revenue was up 17.7% on a year-over-year basis. Equities research analysts expect that Rexford Industrial Realty, Inc. will post 2.34 EPS for the current year.

Rexford Industrial Realty Dividend Announcement

The firm also recently declared 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. The ex-dividend date is Tuesday, December 31st. This represents a $1.67 dividend on an annualized basis and a yield of 4.00%. Rexford Industrial Realty's dividend payout ratio is currently 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.