Rexford Industrial Realty, Inc. (NYSE:REXR) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC lessened its stake in Rexford Industrial Realty, Inc. (NYSE:REXR) by 8.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,234,275 shares of the real estate investment trust’s stock after selling 117,711 shares during the quarter. Allspring Global Investments Holdings LLC owned about 0.56% of Rexford Industrial Realty worth $62,096,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Vanguard Group Inc. increased its holdings in shares of Rexford Industrial Realty by 2.6% in the first quarter. Vanguard Group Inc. now owns 29,734,952 shares of the real estate investment trust’s stock valued at $1,495,668,000 after purchasing an additional 753,098 shares during the last quarter. Price T Rowe Associates Inc. MD increased its stake in Rexford Industrial Realty by 26.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 19,933,431 shares of the real estate investment trust’s stock worth $1,002,654,000 after acquiring an additional 4,197,907 shares during the last quarter. Capital International Investors increased its stake in Rexford Industrial Realty by 687.7% during the first quarter. Capital International Investors now owns 19,590,676 shares of the real estate investment trust’s stock worth $985,411,000 after acquiring an additional 17,103,653 shares during the last quarter. Centersquare Investment Management LLC increased its stake in Rexford Industrial Realty by 1.1% during the first quarter. Centersquare Investment Management LLC now owns 3,938,026 shares of the real estate investment trust’s stock worth $198,083,000 after acquiring an additional 42,632 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in Rexford Industrial Realty by 6.4% during the second quarter. Dimensional Fund Advisors LP now owns 3,326,694 shares of the real estate investment trust’s stock worth $148,337,000 after acquiring an additional 200,027 shares during the last quarter. Institutional investors and hedge funds own 99.52% of the company’s stock.

Rexford Industrial Realty Trading Down 2.9 %

NYSE:REXR opened at $44.71 on Tuesday. The firm has a market cap of $9.81 billion, a PE ratio of 36.35, a price-to-earnings-growth ratio of 1.89 and a beta of 0.93. The stock has a fifty day moving average price of $49.81 and a 200 day moving average price of $47.30. Rexford Industrial Realty, Inc. has a 12-month low of $41.56 and a 12-month high of $58.02. The company has a current ratio of 1.20, a quick ratio of 1.73 and a debt-to-equity ratio of 0.40.

Rexford Industrial Realty (NYSE:REXR) last released its earnings results on Wednesday, October 16th. The real estate investment trust reported $0.30 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 company’s revenue for the quarter was up 17.7% on a year-over-year basis. During the same quarter last year, the business posted $0.56 earnings per share. Sell-side analysts anticipate that Rexford Industrial Realty, Inc. will post 2.35 earnings per share for the current fiscal year.

Rexford Industrial Realty Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be issued a dividend of $0.4175 per share. This represents a $1.67 dividend on an annualized basis and a yield of 3.74%. The ex-dividend date of this dividend is Tuesday, December 31st. Rexford Industrial Realty’s dividend payout ratio (DPR) is 135.77%.

Insiders Place Their Bets

In other Rexford Industrial Realty news, CEO Howard Schwimmer sold 30,358 shares of Rexford Industrial Realty stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $48.86, for a total transaction of $1,483,291.88. Following the completion of the sale, the chief executive officer now directly owns 50,673 shares of the company’s stock, valued at $2,475,882.78. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, CFO Laura E. Clark sold 14,185 shares of the business’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $50.15, for a total value of $711,377.75. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Howard Schwimmer sold 30,358 shares of the business’s stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $48.86, for a total value of $1,483,291.88. Following the completion of the transaction, the chief executive officer now owns 50,673 shares in the company, valued at $2,475,882.78. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 1.20% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

REXR has been the subject of several recent analyst reports. JPMorgan Chase & Co. raised their target price on Rexford Industrial Realty from $47.00 to $52.00 and gave the stock a “neutral” rating in a research note on Thursday, July 25th. Scotiabank raised their target price on Rexford Industrial Realty from $51.00 to $55.00 and gave the stock a “sector outperform” rating in a research note on Monday, August 26th. Bank of America cut Rexford Industrial Realty from a “buy” rating to a “neutral” rating and cut their target price for the stock from $66.00 to $49.00 in a research note on Monday. Truist Financial raised their price target on Rexford Industrial Realty from $50.00 to $54.00 and gave the stock a “buy” rating in a research report on Tuesday, July 30th. Finally, Mizuho lowered their price target on 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. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $52.09.

About Rexford Industrial Realty

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.