Principal Financial Group Inc. cut its position in shares of Rexford Industrial Realty, Inc. (NYSE:REXR - Free Report) by 5.0% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 9,773,477 shares of the real estate investment trust's stock after selling 513,707 shares during the period. Principal Financial Group Inc. owned about 4.13% of Rexford Industrial Realty worth $382,632,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors and hedge funds have also bought and sold shares of REXR. Proficio Capital Partners LLC bought a new stake in Rexford Industrial Realty during the 4th quarter valued at $417,000. Metis Global Partners LLC raised its position in shares of Rexford Industrial Realty by 11.4% in the 4th quarter. Metis Global Partners LLC now owns 25,113 shares of the real estate investment trust's stock worth $971,000 after acquiring an additional 2,566 shares in the last quarter. SRS Capital Advisors Inc. raised its position in shares of Rexford Industrial Realty by 4,104.5% in the 4th quarter. SRS Capital Advisors Inc. now owns 2,775 shares of the real estate investment trust's stock worth $107,000 after acquiring an additional 2,709 shares in the last quarter. State of Michigan Retirement System raised its position in shares of Rexford Industrial Realty by 1.2% in the 4th quarter. State of Michigan Retirement System now owns 52,582 shares of the real estate investment trust's stock worth $2,033,000 after acquiring an additional 600 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Rexford Industrial Realty by 3.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,782,904 shares of the real estate investment trust's stock worth $107,587,000 after acquiring an additional 93,360 shares in the last quarter. 99.52% of the stock is owned by institutional investors.
Rexford Industrial Realty Stock Performance
Rexford Industrial Realty stock traded up $0.12 during trading hours on Thursday, hitting $37.13. 1,342,165 shares of the stock traded hands, compared to its average volume of 2,145,283. The company has a debt-to-equity ratio of 0.37, a current ratio of 4.90 and a quick ratio of 4.90. The firm's 50 day moving average price is $35.43 and its 200-day moving average price is $37.43. The stock has a market capitalization of $8.79 billion, a price-to-earnings ratio of 29.94, a P/E/G ratio of 3.39 and a beta of 1.13. 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 issued its earnings results on Wednesday, April 16th. The real estate investment trust reported $0.62 EPS for the quarter, topping analysts' consensus estimates of $0.57 by $0.05. Rexford Industrial Realty had a return on equity of 3.31% and a net margin of 28.96%. The firm had revenue of $248.82 million for the quarter, compared to the consensus estimate of $246.74 million. As a group, equities analysts expect that Rexford Industrial Realty, Inc. will post 2.38 EPS for the current fiscal year.
Rexford Industrial Realty Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th will be paid a $0.43 dividend. The ex-dividend date is Monday, June 30th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 4.63%. Rexford Industrial Realty's payout ratio is 138.71%.
Wall Street Analysts Forecast Growth
Several research analysts have recently commented on REXR shares. Barclays reduced their price target on Rexford Industrial Realty from $38.00 to $35.00 and set an "underweight" rating for the company in a research report on Wednesday, April 30th. Truist Financial reduced their price target on Rexford Industrial Realty from $44.00 to $37.00 and set a "buy" rating for the company in a research report on Thursday, May 1st. Robert W. Baird set a $43.00 target price on Rexford Industrial Realty in a research note on Tuesday, May 6th. 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 note on Thursday, April 24th. Finally, Scotiabank dropped their target price on 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. Two analysts have rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $40.00.
Read Our Latest Analysis on Rexford Industrial Realty
Rexford Industrial Realty Company Profile
(
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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