First Heartland Consultants Inc. Sells 689 Shares of Rexford Industrial Realty, Inc. (NYSE:REXR)

Posted by on Mar 24th, 2023

First Heartland Consultants Inc. cut its position in shares of Rexford Industrial Realty, Inc. (NYSE:REXR – Get Rating) by 13.6% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,374 shares of the real estate investment trust’s stock after selling 689 shares during the period. First Heartland Consultants Inc.’s holdings in Rexford Industrial Realty were worth $239,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. CWM LLC raised its position in Rexford Industrial Realty by 52.8% during the 3rd quarter. CWM LLC now owns 550 shares of the real estate investment trust’s stock valued at $29,000 after purchasing an additional 190 shares in the last quarter. Ellevest Inc. bought a new position in shares of Rexford Industrial Realty in the 3rd quarter worth $37,000. Assetmark Inc. raised its position in shares of Rexford Industrial Realty by 51.5% in the 3rd quarter. Assetmark Inc. now owns 1,471 shares of the real estate investment trust’s stock worth $76,000 after acquiring an additional 500 shares in the last quarter. Quadrant Capital Group LLC raised its position in shares of Rexford Industrial Realty by 262.2% in the 3rd quarter. Quadrant Capital Group LLC now owns 1,967 shares of the real estate investment trust’s stock worth $102,000 after acquiring an additional 1,424 shares in the last quarter. Finally, Advisors Asset Management Inc. bought a new position in shares of Rexford Industrial Realty in the 3rd quarter worth $122,000. 98.77% of the stock is owned by institutional investors.

Rexford Industrial Realty Stock Down 0.4 %

Shares of REXR stock opened at $54.29 on Friday. Rexford Industrial Realty, Inc. has a 1-year low of $48.74 and a 1-year high of $84.68. The stock’s fifty day moving average price is $60.73 and its 200 day moving average price is $57.08. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.53 and a quick ratio of 0.53. The company has a market cap of $10.68 billion, a price-to-earnings ratio of 59.01, a price-to-earnings-growth ratio of 3.41 and a beta of 0.83.

Rexford Industrial Realty Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 17th. Investors of record on Friday, March 31st will be paid a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 2.80%. This is an increase from Rexford Industrial Realty’s previous quarterly dividend of $0.32. The ex-dividend date is Thursday, March 30th. Rexford Industrial Realty’s payout ratio is 136.96%.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on REXR. BMO Capital Markets began coverage on Rexford Industrial Realty in a research report on Monday, February 6th. They issued an “outperform” rating and a $77.00 price target for the company. Wells Fargo & Company boosted their price target on Rexford Industrial Realty to $68.00 in a research report on Wednesday, December 14th. Finally, StockNews.com initiated coverage on Rexford Industrial Realty in a research report on Thursday, March 16th. They issued a “sell” rating for the company. One research analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $69.33.

Insider Buying and Selling

In other Rexford Industrial Realty news, General Counsel David E. Lanzer sold 16,778 shares of the business’s stock in a transaction dated Tuesday, March 14th. The stock was sold at an average price of $58.16, for a total transaction of $975,808.48. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 1.50% of the stock is owned by company insiders.

Rexford Industrial Realty Company Profile

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Rexford Industrial Realty, Inc is a self-administered and self-managed real estate investment trust. It engages in owning and operating industrial properties in infill markets. The company was founded by Richard S. Ziman on January 18, 2013 and is headquartered in Los Angeles, CA.

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

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