Rexford Industrial Realty, Inc. (NYSE:REXR) Shares Sold by Allianz Asset Management GmbH

Allianz Asset Management GmbH trimmed its holdings in shares of Rexford Industrial Realty, Inc. (NYSE:REXR - Free Report) by 29.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 129,168 shares of the real estate investment trust's stock after selling 53,603 shares during the quarter. Allianz Asset Management GmbH owned 0.05% of Rexford Industrial Realty worth $5,057,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Teacher Retirement System of Texas increased its position in shares of Rexford Industrial Realty by 198.3% during the first quarter. Teacher Retirement System of Texas now owns 39,028 shares of the real estate investment trust's stock worth $1,528,000 after acquiring an additional 25,945 shares during the period. GAMMA Investing LLC increased its position in shares of Rexford Industrial Realty by 211.2% during the first quarter. GAMMA Investing LLC now owns 1,441 shares of the real estate investment trust's stock worth $56,000 after acquiring an additional 978 shares during the period. M&T Bank Corp increased its position in shares of Rexford Industrial Realty by 1.2% during the first quarter. M&T Bank Corp now owns 26,857 shares of the real estate investment trust's stock worth $1,052,000 after acquiring an additional 317 shares during the period. Bessemer Group Inc. increased its position in shares of Rexford Industrial Realty by 118.4% during the first quarter. Bessemer Group Inc. now owns 747 shares of the real estate investment trust's stock worth $29,000 after acquiring an additional 405 shares during the period. Finally, Oppenheimer Asset Management Inc. increased its position in shares of Rexford Industrial Realty by 40.5% during the first quarter. Oppenheimer Asset Management Inc. now owns 36,792 shares of the real estate investment trust's stock worth $1,440,000 after acquiring an additional 10,603 shares during the period. 99.52% of the stock is currently owned by hedge funds and other institutional investors.

Rexford Industrial Realty Price Performance

Shares of REXR stock traded down $0.27 on Friday, reaching $36.26. 896,511 shares of the company were exchanged, compared to its average volume of 2,616,894. The company has a market cap of $8.58 billion, a price-to-earnings ratio of 26.87, a P/E/G ratio of 4.13 and a beta of 1.13. The business has a 50-day moving average price of $36.48 and a 200 day moving average price of $37.21. The company has a debt-to-equity ratio of 0.37, a quick ratio of 5.59 and a current ratio of 5.59. Rexford Industrial Realty, Inc. has a 1 year low of $29.68 and a 1 year high of $52.61.

Rexford Industrial Realty (NYSE:REXR - Get Free Report) last announced its quarterly earnings data on Wednesday, July 16th. The real estate investment trust reported $0.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.58 by $0.01. Rexford Industrial Realty had a net margin of 32.04% and a return on equity of 3.62%. The company had revenue of $241.57 million during the quarter, compared to analysts' expectations of $251.72 million. During the same quarter in the prior year, the company earned $0.60 EPS. Rexford Industrial Realty's revenue was up 5.0% compared to the same quarter last year. Equities research analysts forecast that Rexford Industrial Realty, Inc. will post 2.38 earnings per share for the current fiscal year.

Rexford Industrial Realty Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th will be paid a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a yield of 4.7%. The ex-dividend date of this dividend is Tuesday, September 30th. Rexford Industrial Realty's dividend payout ratio is currently 127.41%.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on REXR shares. Truist Financial lowered their target price on shares of Rexford Industrial Realty from $44.00 to $37.00 and set a "buy" rating for the company in a research note on Thursday, May 1st. Evercore ISI downgraded shares of Rexford Industrial Realty from an "outperform" rating to an "in-line" rating and lowered their target price for the company from $39.00 to $38.00 in a research note on Friday, July 18th. Wells Fargo & Company lowered their target price on shares of Rexford Industrial Realty from $45.00 to $39.00 and set an "overweight" rating for the company in a research note on Monday, May 19th. Robert W. Baird set a $43.00 price objective on shares of Rexford Industrial Realty in a research note on Tuesday, May 6th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Rexford Industrial Realty from $44.00 to $37.00 and set a "neutral" rating for the company in a research note on Thursday, April 24th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $39.82.

Insider Transactions at Rexford Industrial Realty

In related news, General Counsel David E. Lanzer sold 26,449 shares of the company's stock in a transaction dated Monday, July 21st. The shares were sold at an average price of $36.87, for a total transaction of $975,174.63. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 1.20% of the company's stock.

Rexford Industrial Realty Company Profile

Rexford Industrial Realty, Inc is a self-administered and self-managed real estate investment trust, which 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.