State Street Corp Sells 57,609 Shares of Rexford Industrial Realty, Inc. (NYSE:REXR)

State Street Corp lowered its position in shares of Rexford Industrial Realty, Inc. (NYSE:REXR - Free Report) by 0.5% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 10,636,306 shares of the real estate investment trust's stock after selling 57,609 shares during the quarter. State Street Corp owned about 4.78% of Rexford Industrial Realty worth $539,533,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of REXR. V Square Quantitative Management LLC bought a new position in shares of Rexford Industrial Realty in the 2nd quarter worth about $26,000. UMB Bank n.a. boosted 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 acquired a new stake in shares of Rexford Industrial Realty during the 2nd quarter worth approximately $41,000. CWM LLC boosted its position 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 purchasing an additional 631 shares during the period. Finally, Fifth Third Bancorp increased its position in Rexford Industrial Realty by 42.4% in the second quarter. Fifth Third Bancorp now owns 1,741 shares of the real estate investment trust's stock worth $78,000 after buying an additional 518 shares during the period. Institutional investors own 99.52% of the company's stock.

Analysts Set New Price Targets

Several analysts recently weighed in on REXR shares. Bank of America downgraded shares of Rexford Industrial Realty from a "buy" rating to a "neutral" rating and cut their price objective for the company from $66.00 to $49.00 in a research report on Monday, October 21st. Wells Fargo & Company decreased their price objective on Rexford Industrial Realty from $66.00 to $61.00 and set an "overweight" rating for the company in a report on Wednesday, August 28th. StockNews.com lowered Rexford Industrial Realty from a "hold" rating to a "sell" rating in a research report on Monday, October 21st. Scotiabank lowered Rexford Industrial Realty from a "sector outperform" rating to a "sector perform" rating and lowered their price target for the company from $55.00 to $48.00 in a report on Friday, October 25th. Finally, Evercore ISI reiterated an "outperform" rating on shares of Rexford Industrial Realty in a research report on Friday, October 18th. Two 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. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $51.09.

Insiders Place Their Bets

In other Rexford Industrial Realty news, CFO Laura E. Clark sold 14,185 shares of the stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $50.15, for a total transaction of $711,377.75. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 1.20% of the company's stock.

Rexford Industrial Realty Stock Up 4.2 %

NYSE REXR traded up $1.68 during trading on Monday, reaching $41.71. 4,115,206 shares of the company's stock were exchanged, compared to its average volume of 1,743,287. The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 0.40. Rexford Industrial Realty, Inc. has a fifty-two week low of $39.85 and a fifty-two week high of $58.02. The company's fifty day simple moving average is $44.26 and its 200-day simple moving average is $46.75. The firm has a market capitalization of $9.28 billion, a PE ratio of 32.54, a P/E/G ratio of 1.90 and a beta of 0.93.

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 EPS for the quarter, missing the consensus estimate 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 for the quarter, compared to analysts' expectations of $235.81 million. During the same quarter in the prior year, the firm earned $0.56 earnings per share. The company's revenue was up 17.7% on a year-over-year basis. Sell-side analysts predict that Rexford Industrial Realty, Inc. will post 2.34 EPS for the current year.

Rexford Industrial Realty Announces Dividend

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

Rexford Industrial Realty 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.