Ranger Global Real Estate Advisors LLC Reduces Holdings in Rexford Industrial Realty, Inc. (NYSE:REXR)

Ranger Global Real Estate Advisors LLC trimmed its position in Rexford Industrial Realty, Inc. (NYSE:REXRFree Report) by 5.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 319,184 shares of the real estate investment trust’s stock after selling 19,710 shares during the quarter. Rexford Industrial Realty makes up 2.4% of Ranger Global Real Estate Advisors LLC’s investment portfolio, making the stock its 19th largest position. Ranger Global Real Estate Advisors LLC owned approximately 0.15% of Rexford Industrial Realty worth $15,752,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of REXR. Raymond James Financial Services Advisors Inc. raised its stake in Rexford Industrial Realty by 139.7% during the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 7,339 shares of the real estate investment trust’s stock worth $547,000 after acquiring an additional 4,277 shares in the last quarter. Natixis Advisors L.P. acquired a new stake in Rexford Industrial Realty during the 1st quarter worth $882,000. Healthcare of Ontario Pension Plan Trust Fund raised its stake in Rexford Industrial Realty by 37.5% during the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 14,575 shares of the real estate investment trust’s stock worth $1,087,000 after acquiring an additional 3,978 shares in the last quarter. Vanguard Group Inc. raised its stake in Rexford Industrial Realty by 7.5% during the 1st quarter. Vanguard Group Inc. now owns 22,698,814 shares of the real estate investment trust’s stock worth $1,693,104,000 after acquiring an additional 1,587,612 shares in the last quarter. Finally, Mackenzie Financial Corp acquired a new stake in Rexford Industrial Realty during the 1st quarter worth $1,157,000. 99.52% of the stock is currently owned by institutional investors and hedge funds.

Rexford Industrial Realty Stock Performance

Shares of NYSE:REXR traded down $0.38 during midday trading on Wednesday, hitting $50.70. The stock had a trading volume of 1,341,203 shares, compared to its average volume of 1,473,575. The company has a market capitalization of $10.91 billion, a PE ratio of 45.60, a P/E/G ratio of 2.05 and a beta of 0.89. The stock has a 50 day moving average price of $54.17 and a two-hundred day moving average price of $51.18. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 0.28. Rexford Industrial Realty, Inc. has a 1 year low of $41.56 and a 1 year high of $61.82.

Rexford Industrial Realty Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 15th. Investors of record on Thursday, March 28th will be issued a dividend of $0.4175 per share. The ex-dividend date is Wednesday, March 27th. This represents a $1.67 dividend on an annualized basis and a yield of 3.29%. This is an increase from Rexford Industrial Realty’s previous quarterly dividend of $0.38. Rexford Industrial Realty’s payout ratio is currently 135.71%.

Analysts Set New Price Targets

Several equities research analysts recently commented on REXR shares. Scotiabank upgraded shares of Rexford Industrial Realty from a “sector perform” rating to a “sector outperform” rating and set a $55.00 price target on the stock in a research note on Wednesday, November 8th. JPMorgan Chase & Co. downgraded shares of Rexford Industrial Realty from an “overweight” rating to a “neutral” rating and set a $55.00 price objective on the stock. in a research report on Wednesday, February 7th. TheStreet raised shares of Rexford Industrial Realty from a “c+” rating to a “b-” rating in a research report on Thursday, February 1st. Robert W. Baird reissued a “neutral” rating and set a $61.00 price objective (up from $53.00) on shares of Rexford Industrial Realty in a research report on Friday, January 5th. Finally, Truist Financial lowered their price objective on shares of Rexford Industrial Realty from $61.00 to $57.00 and set a “buy” rating on the stock in a research report on Thursday, February 15th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $57.22.

Read Our Latest Research Report on REXR

Insider Buying and Selling

In related news, General Counsel David E. Lanzer sold 18,113 shares of the business’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $52.69, for a total transaction of $954,373.97. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 1.10% of the stock is owned by insiders.

Rexford Industrial Realty Profile

(Free Report)

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.

Featured Stories

Institutional Ownership by Quarter for Rexford Industrial Realty (NYSE:REXR)

Receive News & Ratings for Rexford Industrial Realty Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Rexford Industrial Realty and related companies with MarketBeat.com's FREE daily email newsletter.