Rexford Industrial Realty: Toronto Dominion Bank Cuts Holdings by 97.2%

Toronto Dominion Bank significantly reduced its holdings in Rexford Industrial Realty, Inc. (NYSE:REXR) by 97.2% in the first quarter, according to a recent Form 13F filing with the SEC. The bank sold 20,115 shares, leaving them with only 590 shares valued at $30,000. Other large investors have also made adjustments to their holdings in the company, with GAMMA Investing LLC purchasing a new position, Advisors Asset Management Inc. boosting its holdings, and Quarry LP and Principal Securities Inc. acquiring new positions as well.

Rexford Industrial Realty’s stock performance has been closely watched, with shares opening at $49.28 on Tuesday. The company’s 50-day moving average is $45.89 and its 200-day moving average is $48.36. With a market capitalization of $10.82 billion, a P/E ratio of 45.21, and a beta of 0.92, Rexford Industrial Realty has shown resilience in the market.

In terms of financial performance, Rexford Industrial Realty reported $0.37 earnings per share for the quarter, falling short of the consensus estimate of $0.58. However, the company saw revenue of $237.60 million, surpassing analysts’ expectations. The business also announced an increase in its quarterly dividend, with shareholders set to receive a $0.4175 dividend on October 15th.

Analysts have weighed in on Rexford Industrial Realty, with varying opinions on the stock. Despite some price target adjustments and ratings changes, the company maintains an average rating of “Hold” with a consensus target price of $52.30. Insider activity has also been notable, with CEO Howard Schwimmer selling a significant number of shares in July.

Rexford Industrial Realty’s profile highlights its focus on investing in and operating industrial properties in Southern California, a high-demand market with significant growth potential. The company’s unique strategy and value creation capabilities set it apart in the industry.

For investors looking to stay informed on Rexford Industrial Realty, MarketBeat.com offers daily news and ratings updates, as well as insights into hedge fund holdings and insider trades. Stay tuned for the latest developments in this dynamic real estate investment trust.