Rexford Industrial Realty Inc (NYSE:REXR) Shares Sold by Phocas Financial Corp.

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Phocas Financial Corp. lowered its stake in shares of Rexford Industrial Realty Inc (NYSE:REXR) by 0.3% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 447,455 shares of the real estate investment trust’s stock after selling 1,518 shares during the quarter. Rexford Industrial Realty makes up approximately 2.1% of Phocas Financial Corp.’s holdings, making the stock its 2nd largest position. Phocas Financial Corp. owned approximately 0.40% of Rexford Industrial Realty worth $19,696,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of REXR. Point72 Asset Management L.P. bought a new stake in Rexford Industrial Realty during the 2nd quarter valued at $36,000. New York State Teachers Retirement System bought a new stake in shares of Rexford Industrial Realty during the third quarter valued at about $40,000. Whittier Trust Co. lifted its holdings in Rexford Industrial Realty by 96.5% in the second quarter. Whittier Trust Co. now owns 2,335 shares of the real estate investment trust’s stock worth $94,000 after purchasing an additional 1,147 shares during the period. NEXT Financial Group Inc lifted its holdings in Rexford Industrial Realty by 58.3% in the second quarter. NEXT Financial Group Inc now owns 2,483 shares of the real estate investment trust’s stock worth $100,000 after purchasing an additional 914 shares during the period. Finally, Pearl River Capital LLC acquired a new stake in Rexford Industrial Realty in the second quarter worth about $124,000. Hedge funds and other institutional investors own 99.51% of the company’s stock.

In other news, CFO Adeel Khan sold 49,721 shares of Rexford Industrial Realty stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $46.01, for a total transaction of $2,287,663.21. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Michael S. Frankel sold 12,536 shares of the stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $47.46, for a total value of $594,958.56. Following the completion of the transaction, the chief executive officer now owns 71,834 shares in the company, valued at approximately $3,409,241.64. The disclosure for this sale can be found here. In the last quarter, insiders sold 97,720 shares of company stock worth $4,583,782. Company insiders own 1.70% of the company’s stock.

Several equities analysts have commented on REXR shares. Zacks Investment Research cut shares of Rexford Industrial Realty from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 22nd. Citigroup raised their target price on Rexford Industrial Realty from $42.00 to $47.00 and gave the company a “neutral” rating in a research note on Monday, September 23rd. ValuEngine cut shares of Rexford Industrial Realty from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. Finally, JPMorgan Chase & Co. raised their price objective on shares of Rexford Industrial Realty from $43.00 to $47.00 and gave the company a “neutral” rating in a research report on Tuesday. Five research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Rexford Industrial Realty currently has an average rating of “Hold” and an average target price of $45.40.

Shares of NYSE REXR traded down $1.21 during mid-day trading on Wednesday, reaching $46.99. The company had a trading volume of 1,038,907 shares, compared to its average volume of 705,951. Rexford Industrial Realty Inc has a 1-year low of $28.17 and a 1-year high of $48.80. The company has a current ratio of 5.82, a quick ratio of 5.82 and a debt-to-equity ratio of 0.38. The stock has a market cap of $5.31 billion, a PE ratio of 41.96, a P/E/G ratio of 5.57 and a beta of 0.77. The company has a 50-day moving average price of $46.90 and a two-hundred day moving average price of $43.07.

Rexford Industrial Realty (NYSE:REXR) last issued its earnings results on Tuesday, October 29th. The real estate investment trust reported $0.31 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.30 by $0.01. The business had revenue of $68.06 million during the quarter, compared to analysts’ expectations of $67.50 million. Rexford Industrial Realty had a return on equity of 2.61% and a net margin of 21.32%. Rexford Industrial Realty’s revenue was up 23.3% compared to the same quarter last year. During the same quarter last year, the firm posted $0.28 earnings per share. On average, research analysts expect that Rexford Industrial Realty Inc will post 1.22 EPS for the current year.

The business 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 $0.185 dividend. The ex-dividend date is Monday, December 30th. This represents a $0.74 annualized dividend and a yield of 1.57%. Rexford Industrial Realty’s dividend payout ratio is presently 66.07%.

Rexford Industrial Realty Profile

Rexford Industrial is a real estate investment trust focused on owning and operating industrial properties in Southern California infill markets. The Company owns 179 properties with approximately 22.1 million rentable square feet and manages an additional 20 properties with approximately 1.2 million rentable square feet.

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

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