Invesco Ltd. cut its holdings in shares of Rexford Industrial Realty, Inc. (NYSE:REXR - Free Report) by 2.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,524,763 shares of the real estate investment trust's stock after selling 70,764 shares during the period. Invesco Ltd. owned approximately 1.07% of Rexford Industrial Realty worth $98,844,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors also recently modified their holdings of the company. Massachusetts Financial Services Co. MA raised its position in shares of Rexford Industrial Realty by 130.2% during the first quarter. Massachusetts Financial Services Co. MA now owns 7,751,922 shares of the real estate investment trust's stock worth $303,488,000 after purchasing an additional 4,384,624 shares during the period. Rush Island Management LP acquired a new stake in Rexford Industrial Realty during the 4th quarter worth approximately $132,701,000. Northern Trust Corp lifted its stake in Rexford Industrial Realty by 94.3% in the fourth quarter. Northern Trust Corp now owns 3,104,624 shares of the real estate investment trust's stock valued at $120,025,000 after buying an additional 1,506,779 shares in the last quarter. Resolution Capital Ltd acquired a new position in shares of Rexford Industrial Realty in the fourth quarter valued at approximately $52,025,000. Finally, Vanguard Group Inc. increased its position in shares of Rexford Industrial Realty by 2.6% during the first quarter. Vanguard Group Inc. now owns 30,711,076 shares of the real estate investment trust's stock worth $1,202,339,000 after acquiring an additional 779,095 shares in the last quarter. 99.52% of the stock is currently owned by institutional investors.
Rexford Industrial Realty Stock Down 0.8%
Shares of NYSE:REXR traded down $0.3150 during midday trading on Thursday, reaching $39.0250. The company had a trading volume of 128,395 shares, compared to its average volume of 2,579,983. Rexford Industrial Realty, Inc. has a 1-year low of $29.68 and a 1-year high of $52.61. The stock has a market cap of $9.24 billion, a PE ratio of 28.92, a P/E/G ratio of 4.38 and a beta of 1.10. The company has a quick ratio of 5.59, a current ratio of 5.59 and a debt-to-equity ratio of 0.37. The business's 50 day moving average price is $36.95 and its 200 day moving average price is $36.95.
Rexford Industrial Realty (NYSE:REXR - Get Free Report) last posted 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. The firm had revenue of $241.57 million during the quarter, compared to the consensus estimate of $251.72 million. Rexford Industrial Realty had a return on equity of 3.62% and a net margin of 32.04%.The business's revenue was up 5.0% compared to the same quarter last year. During the same period last year, the company earned $0.60 earnings per share. Rexford Industrial Realty has set its FY 2025 guidance at 2.370-2.410 EPS. Research 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 issued a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a yield of 4.4%. The ex-dividend date is Tuesday, September 30th. Rexford Industrial Realty's payout ratio is presently 127.41%.
Wall Street Analyst Weigh In
Several equities research analysts recently commented on REXR shares. Truist Financial boosted their price objective on shares of Rexford Industrial Realty from $37.00 to $42.00 and gave the company a "buy" rating in a research report on Wednesday. Barclays cut their price target on Rexford Industrial Realty from $38.00 to $35.00 and set an "underweight" rating on the stock in a report on Wednesday, April 30th. Wells Fargo & Company decreased their price objective on Rexford Industrial Realty from $45.00 to $39.00 and set an "overweight" rating for the company in a report on Monday, May 19th. JPMorgan Chase & Co. dropped their target price on Rexford Industrial Realty from $44.00 to $37.00 and set a "neutral" rating on the stock in a research report on Thursday, April 24th. Finally, Evercore ISI downgraded Rexford Industrial Realty from an "outperform" rating to an "in-line" rating and reduced their price target for the stock from $39.00 to $38.00 in a research report on Friday, July 18th. Two research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $40.27.
Read Our Latest Research Report on REXR
Insider Transactions at Rexford Industrial Realty
In other Rexford Industrial Realty news, General Counsel David E. Lanzer sold 26,449 shares of the stock in a transaction on Monday, July 21st. The shares were sold at an average price of $36.87, for a total value of $975,174.63. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 1.20% of the company's stock.
Rexford Industrial Realty Profile
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Free Report)
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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