Metis Global Partners LLC Purchases 5,295 Shares of Rexford Industrial Realty, Inc. (NYSE:REXR)

Metis Global Partners LLC lifted its position in Rexford Industrial Realty, Inc. (NYSE:REXR) by 30.7% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 22,547 shares of the real estate investment trust’s stock after buying an additional 5,295 shares during the period. Metis Global Partners LLC’s holdings in Rexford Industrial Realty were worth $1,134,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the company. Massmutual Trust Co. FSB ADV raised its position in shares of 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 worth $25,000 after purchasing an additional 349 shares during the period. V Square Quantitative Management LLC bought a new stake in Rexford Industrial Realty during the 2nd quarter worth approximately $26,000. UMB Bank n.a. raised its holdings in Rexford Industrial Realty by 164.3% during the 3rd quarter. UMB Bank n.a. now owns 719 shares of the real estate investment trust’s stock worth $36,000 after buying an additional 447 shares during the period. Headlands Technologies LLC bought a new position in Rexford Industrial Realty in the second quarter valued at approximately $41,000. Finally, EverSource Wealth Advisors LLC boosted its holdings in shares of Rexford Industrial Realty by 1,252.2% in the first quarter. EverSource Wealth Advisors LLC now owns 933 shares of the real estate investment trust’s stock valued at $47,000 after buying an additional 864 shares during the period. Institutional investors own 99.52% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the stock. Bank of America lowered shares of Rexford Industrial Realty from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $66.00 to $49.00 in a report on Monday, October 21st. Truist Financial cut their price target on Rexford Industrial Realty from $54.00 to $50.00 and set a “buy” rating on the stock in a report on Tuesday, November 12th. JPMorgan Chase & Co. increased their price objective on Rexford Industrial Realty from $47.00 to $52.00 and gave the stock a “neutral” rating in a report on Thursday, July 25th. Evercore ISI reiterated an “outperform” rating on shares of Rexford Industrial Realty in a report on Friday, October 18th. Finally, Scotiabank downgraded Rexford Industrial Realty from a “sector outperform” rating to a “sector perform” rating and decreased their price objective for the stock from $55.00 to $48.00 in a report on Friday, October 25th. Two investment 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’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $51.09.

Rexford Industrial Realty Stock Up 0.6 %

REXR stock opened at $42.01 on Friday. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 0.40. The business has a 50 day moving average price of $46.92 and a two-hundred day moving average price of $47.05. The company has a market cap of $9.34 billion, a price-to-earnings ratio of 34.15, a P/E/G ratio of 2.00 and a beta of 0.94. Rexford Industrial Realty, Inc. has a twelve month low of $41.16 and a twelve month high of $58.02.

Rexford Industrial Realty (NYSE:REXR) last posted 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 the consensus estimate of $235.81 million. Rexford Industrial Realty had a net margin of 30.40% and a return on equity of 3.35%. The firm’s revenue for the quarter was up 17.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.56 earnings per share. Analysts anticipate that Rexford Industrial Realty, Inc. will post 2.34 EPS for the current fiscal year.

Rexford Industrial Realty Announces Dividend

The firm also recently disclosed 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 of this dividend is Tuesday, December 31st. This represents a $1.67 annualized dividend and a yield of 3.98%. Rexford Industrial Realty’s dividend payout ratio is 135.77%.

Insider Buying and Selling at Rexford Industrial Realty

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

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.