Hilton Capital Management LLC Lowers Stock Holdings in Rexford Industrial Realty, Inc. (NYSE:REXR)

Hilton Capital Management LLC cut its holdings in Rexford Industrial Realty, Inc. (NYSE:REXR) by 5.9% in the third quarter, Holdings Channel reports. The institutional investor owned 21,965 shares of the real estate investment trust’s stock after selling 1,384 shares during the quarter. Hilton Capital Management LLC’s holdings in Rexford Industrial Realty were worth $1,105,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the business. Massmutual Trust Co. FSB ADV grew its stake in Rexford Industrial Realty by 169.4% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 555 shares of the real estate investment trust’s stock valued at $25,000 after acquiring an additional 349 shares during the period. V Square Quantitative Management LLC acquired a new stake in shares of Rexford Industrial Realty in the second quarter valued at about $26,000. UMB Bank n.a. raised its position in shares of 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 purchasing an additional 447 shares during the last quarter. Headlands Technologies LLC purchased a new position in shares of Rexford Industrial Realty in the second quarter valued at approximately $41,000. Finally, EverSource Wealth Advisors LLC boosted its stake 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 worth $47,000 after acquiring an additional 864 shares during the last quarter. 99.52% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have weighed in on REXR shares. Evercore ISI restated an “outperform” rating on shares of Rexford Industrial Realty in a report on Friday, October 18th. Mizuho reduced their target price on shares of Rexford Industrial Realty from $50.00 to $49.00 and set a “neutral” rating for the company in a research report on Thursday, September 5th. Truist Financial cut their price objective on shares of Rexford Industrial Realty from $54.00 to $50.00 and set a “buy” rating for the company in a report on Tuesday, November 12th. JPMorgan Chase & Co. raised their target price on shares of Rexford Industrial Realty from $47.00 to $52.00 and gave the stock a “neutral” rating in a research note on Thursday, July 25th. Finally, Bank of America lowered Rexford Industrial Realty from a “buy” rating to a “neutral” rating and dropped their price target for the company from $66.00 to $49.00 in a research report on Monday, October 21st. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $51.09.

Insider Activity at Rexford Industrial Realty

In related news, CFO Laura E. Clark sold 14,185 shares of the firm’s stock in a transaction dated 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 legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.20% of the stock is owned by insiders.

Rexford Industrial Realty Price Performance

NYSE:REXR opened at $42.69 on Thursday. Rexford Industrial Realty, Inc. has a 52 week low of $41.16 and a 52 week high of $58.02. The stock’s fifty day moving average is $46.63 and its two-hundred day moving average is $47.07. The company has a market capitalization of $9.49 billion, a P/E ratio of 34.70, a P/E/G ratio of 2.04 and a beta of 0.94. 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) last issued its quarterly earnings data 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). The company had revenue of $241.84 million during the quarter, compared to analysts’ expectations 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 quarterly revenue was up 17.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.56 earnings per share. Equities analysts expect that Rexford Industrial Realty, Inc. will post 2.34 EPS for the current year.

Rexford Industrial Realty Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors 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 dividend yield of 3.91%. Rexford Industrial Realty’s payout ratio is currently 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.