Hsbc Holdings PLC Has $18.77 Million Stock Holdings in Rexford Industrial Realty, Inc. $REXR

Key Points

• Hsbc Holdings PLC has reduced its stake in Rexford Industrial Realty by 32.8%, holding 479,514 shares worth approximately $18.77 million as of the end of the last quarter.
• Equities research analysts have adjusted their price targets on Rexford Industrial Realty, with the consensus rating being a "Hold" and an average target price of $40.27.
• The company recently announced a quarterly dividend of $0.43 per share, resulting in a dividend yield of 4.3%, although it has a high payout ratio of 127.41%.

Hsbc Holdings PLC lowered its holdings in Rexford Industrial Realty, Inc. (NYSE:REXR - Free Report) by 32.8% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 479,514 shares of the real estate investment trust's stock after selling 233,622 shares during the quarter. Hsbc Holdings PLC owned 0.20% of Rexford Industrial Realty worth $18,773,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of REXR. MassMutual Private Wealth & Trust FSB grew its stake in shares of Rexford Industrial Realty by 332.9% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 736 shares of the real estate investment trust's stock worth $29,000 after acquiring an additional 566 shares during the last quarter. Bessemer Group Inc. boosted its holdings in Rexford Industrial Realty by 118.4% in the 1st quarter. Bessemer Group Inc. now owns 747 shares of the real estate investment trust's stock valued at $29,000 after purchasing an additional 405 shares during the period. Private Trust Co. NA increased its holdings in shares of Rexford Industrial Realty by 95.6% during the 1st quarter. Private Trust Co. NA now owns 757 shares of the real estate investment trust's stock worth $30,000 after purchasing an additional 370 shares during the period. Caitong International Asset Management Co. Ltd raised its position in shares of Rexford Industrial Realty by 280.7% during the first quarter. Caitong International Asset Management Co. Ltd now owns 1,085 shares of the real estate investment trust's stock valued at $42,000 after buying an additional 800 shares during the last quarter. Finally, GAMMA Investing LLC lifted its stake in shares of Rexford Industrial Realty by 211.2% in the first quarter. GAMMA Investing LLC now owns 1,441 shares of the real estate investment trust's stock valued at $56,000 after buying an additional 978 shares during the period. 99.52% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. Truist Financial lifted their target price on Rexford Industrial Realty from $37.00 to $42.00 and gave the stock a "buy" rating in a research report on Wednesday. Evercore ISI cut Rexford Industrial Realty from an "outperform" rating to an "in-line" rating and lowered their price objective for the company from $39.00 to $38.00 in a research report on Friday, July 18th. Barclays cut their target price on Rexford Industrial Realty from $38.00 to $35.00 and set an "underweight" rating for the company in a research note on Wednesday, April 30th. Scotiabank decreased their price target on shares of Rexford Industrial Realty from $39.00 to $37.00 and set a "sector perform" rating on the stock in a research note on Monday, May 12th. Finally, Wells Fargo & Company dropped their price objective 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. Two equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $40.27.

Rexford Industrial Realty Price Performance

Rexford Industrial Realty stock opened at $40.3910 on Friday. The business has a 50 day simple moving average of $37.07 and a 200 day simple moving average of $36.92. The company has a debt-to-equity ratio of 0.37, a current ratio of 5.59 and a quick ratio of 5.59. The company has a market capitalization of $9.56 billion, a PE ratio of 29.92, a price-to-earnings-growth ratio of 4.49 and a beta of 1.10. Rexford Industrial Realty, Inc. has a one year low of $29.68 and a one year high of $52.61.

Rexford Industrial Realty (NYSE:REXR - Get Free Report) last announced its quarterly earnings results on Wednesday, July 16th. The real estate investment trust reported $0.59 earnings per share for the quarter, beating analysts' consensus estimates of $0.58 by $0.01. Rexford Industrial Realty had a return on equity of 3.62% and a net margin of 32.04%.The firm had revenue of $241.57 million for the quarter, compared to analysts' expectations of $251.72 million. During the same period in the prior year, the business posted $0.60 earnings per share. The business's revenue was up 5.0% compared to the same quarter last year. Rexford Industrial Realty has set its FY 2025 guidance at 2.370-2.410 EPS. On average, sell-side analysts forecast that Rexford Industrial Realty, Inc. will post 2.38 EPS for the current fiscal year.

Rexford Industrial Realty Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th will be given a dividend of $0.43 per share. The ex-dividend date is Tuesday, September 30th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 4.3%. Rexford Industrial Realty's dividend payout ratio (DPR) is 127.41%.

Insider Transactions at Rexford Industrial Realty

In other Rexford Industrial Realty news, General Counsel David E. Lanzer sold 26,449 shares of the business's stock in a transaction dated Monday, July 21st. The shares were sold at an average price of $36.87, for a total value of $975,174.63. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.20% of the stock is owned by corporate insiders.

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.

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