Rexford Industrial Realty, Inc. (NYSE:REXR) Stock Position Cut by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company trimmed its stake in shares of Rexford Industrial Realty, Inc. (NYSE:REXR) by 2.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 362,726 shares of the real estate investment trust’s stock after selling 7,970 shares during the quarter. The Manufacturers Life Insurance Company owned about 0.16% of Rexford Industrial Realty worth $18,249,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in REXR. Massachusetts Financial Services Co. MA boosted its stake in Rexford Industrial Realty by 14.8% during the third quarter. Massachusetts Financial Services Co. MA now owns 3,339,219 shares of the real estate investment trust’s stock valued at $167,996,000 after buying an additional 431,659 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Rexford Industrial Realty by 6.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,326,694 shares of the real estate investment trust’s stock valued at $148,337,000 after purchasing an additional 200,027 shares in the last quarter. Canada Pension Plan Investment Board grew its stake in shares of Rexford Industrial Realty by 41.9% in the 2nd quarter. Canada Pension Plan Investment Board now owns 3,175,465 shares of the real estate investment trust’s stock worth $141,594,000 after purchasing an additional 938,177 shares during the last quarter. PGGM Investments raised its holdings in shares of Rexford Industrial Realty by 16.5% in the 2nd quarter. PGGM Investments now owns 2,833,520 shares of the real estate investment trust’s stock worth $126,347,000 after purchasing an additional 401,593 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in Rexford Industrial Realty by 3.0% during the second quarter. Bank of New York Mellon Corp now owns 1,979,362 shares of the real estate investment trust’s stock valued at $88,260,000 after purchasing an additional 58,167 shares during the last quarter. 99.52% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

REXR has been the topic of several recent research reports. StockNews.com lowered shares of Rexford Industrial Realty from a “hold” rating to a “sell” rating in a research report on Monday, October 21st. Mizuho decreased their target price on Rexford Industrial Realty from $50.00 to $49.00 and set a “neutral” rating on the stock in a report on Thursday, September 5th. Industrial Alliance Securities set a $55.00 target price on Rexford Industrial Realty in a report on Friday, October 18th. Bank of America lowered Rexford Industrial Realty from a “buy” rating to a “neutral” rating and decreased their price target for the company from $66.00 to $49.00 in a research report on Monday, October 21st. Finally, Evercore ISI restated an “outperform” rating on shares of Rexford Industrial Realty in a report on Friday, October 18th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the company. According to data from MarketBeat, Rexford Industrial Realty currently has a consensus rating of “Hold” and a consensus price target of $51.09.

Insiders Place Their Bets

In other news, CFO Laura E. Clark sold 14,185 shares of the 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 document filed with the SEC, which is accessible through the SEC website. Insiders own 1.20% of the company’s stock.

Rexford Industrial Realty Trading Down 1.1 %

NYSE:REXR opened at $42.08 on Monday. The stock’s 50-day moving average is $45.27 and its two-hundred day moving average is $46.91. 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 stock has a market cap of $9.36 billion, a PE ratio of 34.21, a price-to-earnings-growth ratio of 1.99 and a beta of 0.94. Rexford Industrial Realty, Inc. has a fifty-two week low of $41.16 and a fifty-two week high of $58.02.

Rexford Industrial Realty (NYSE:REXR) last released its quarterly earnings data on Wednesday, October 16th. The real estate investment trust reported $0.30 earnings per share 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 during the quarter, compared to analyst estimates of $235.81 million. During the same quarter in the prior year, the company posted $0.56 EPS. The firm’s quarterly revenue was up 17.7% compared to the same quarter last year. As a group, equities research analysts forecast that Rexford Industrial Realty, Inc. will post 2.34 earnings per share for the current fiscal year.

Rexford Industrial Realty Dividend Announcement

The company 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. The ex-dividend date is Tuesday, December 31st. This represents a $1.67 dividend on an annualized basis and a yield of 3.97%. Rexford Industrial Realty’s dividend payout ratio (DPR) is currently 135.77%.

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.