Rexford Industrial Realty, Inc. $REXR Stock Sold by M&G PLC

M&G PLC trimmed its stake in shares of Rexford Industrial Realty, Inc. (NYSE:REXR) by 83.2% in the third quarter, HoldingsChannel.com reports. The fund owned 56,346 shares of the real estate investment trust’s stock after selling 279,986 shares during the quarter. M&G PLC’s holdings in Rexford Industrial Realty were worth $2,028,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of the stock. BlackRock Inc. acquired a new position in Rexford Industrial Realty in the second quarter valued at about $1,293,168,000. Dimensional Fund Advisors LP lifted its position in Rexford Industrial Realty by 2.4% during the first quarter. Dimensional Fund Advisors LP now owns 3,581,987 shares of the real estate investment trust’s stock worth $117,239,000 after purchasing an additional 85,135 shares during the period. Legal & General Group Plc acquired a new stake in Rexford Industrial Realty during the second quarter worth about $86,861,000. Bank of America Corp DE acquired a new stake in Rexford Industrial Realty during the second quarter worth about $79,547,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Rexford Industrial Realty by 41,558.2% during the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,654,665 shares of the real estate investment trust’s stock worth $55,431,000 after buying an additional 1,650,693 shares in the last quarter. 99.52% of the stock is currently owned by institutional investors.

Rexford Industrial Realty Stock Performance

Rexford Industrial Realty stock opened at $37.88 on Thursday. The company has a debt-to-equity ratio of 0.38, a current ratio of 4.08 and a quick ratio of 4.08. Rexford Industrial Realty, Inc. has a 1 year low of $32.14 and a 1 year high of $42.41. The business has a 50 day moving average of $37.57 and a 200-day moving average of $36.38. The company has a market capitalization of $8.04 billion, a P/E ratio of 15.62 and a beta of 1.11.

Rexford Industrial Realty (NYSE:REXR) last issued its quarterly earnings results on Thursday, October 22nd. The real estate investment trust reported $0.07 EPS for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.53). The business had revenue of $239.10 million for the quarter, compared to analyst estimates of $232.95 million. Rexford Industrial Realty had a negative return on equity of 5.72% and a negative net margin of 47.15%. Rexford Industrial Realty’s revenue for the quarter was down 5.6% on a year-over-year basis. During the same quarter last year, the firm posted $0.60 EPS. On average, equities research analysts predict that Rexford Industrial Realty, Inc. will post 2.42 earnings per share for the current year.

Rexford Industrial Realty Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, January 15th. Investors of record on Thursday, December 31st will be issued a $0.4350 dividend. The ex-dividend date is Thursday, December 31st. This represents a $1.74 annualized dividend and a yield of 4.6%. Rexford Industrial Realty’s dividend payout ratio is presently -82.46%.

Analyst Ratings Changes

REXR has been the topic of several recent analyst reports. Citigroup decreased their target price on shares of Rexford Industrial Realty from $42.00 to $40.00 and set a “neutral” rating on the stock in a report on Thursday, October 29th. Wall Street Zen raised shares of Rexford Industrial Realty from a “sell” rating to a “hold” rating in a report on Saturday, October 31st. JPMorgan Chase & Co. increased their price target on shares of Rexford Industrial Realty from $36.00 to $39.00 and gave the stock an “underweight” rating in a research report on Monday, August 3rd. Truist Financial lifted their price objective on shares of Rexford Industrial Realty from $39.00 to $42.00 and gave the company a “buy” rating in a research note on Tuesday, November 3rd. Finally, Jefferies Financial Group cut shares of Rexford Industrial Realty from a “buy” rating to a “hold” rating and set a $40.00 price objective on the stock. in a research note on Thursday, August 6th. Seven equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $41.14.

About Rexford Industrial Realty

Rexford Industrial Realty, Inc. is a real estate investment trust that owns, operates, acquires, develops and redevelops industrial properties. Its portfolio primarily serves businesses that need warehouse, distribution, manufacturing and other industrial space. The company focuses on infill markets in Southern California, including Los Angeles, Orange County, San Diego, the Inland Empire and Ventura County. Its strategy centers on properties in established areas with access to customers, workers and transportation networks.