Principal Financial Group Inc. Has $446.01 Million Stock Holdings in Rexford Industrial Realty, Inc. $REXR

Key Points

• Principal Financial Group raised its stake in Rexford Industrial Realty by 19.5% in Q4 to 11,518,739 shares (about 4.95% ownership), valued at approximately $446.01 million.
• Rexford announced a quarterly dividend of $0.435 (annualized $1.74) with an ex-dividend date of June 30, implying a ~5.0% yield and a high payout ratio of 187.1%.
• Analysts' consensus rating on the stock is Hold with an average target price of $41.92, following several recent reductions to price objectives by major firms.

Principal Financial Group Inc. raised its holdings in Rexford Industrial Realty, Inc. (NYSE:REXR - Free Report) by 19.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 11,518,739 shares of the real estate investment trust's stock after acquiring an additional 1,881,905 shares during the quarter. Principal Financial Group Inc. owned about 4.95% of Rexford Industrial Realty worth $446,006,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in REXR. Royal Bank of Canada lifted its stake in Rexford Industrial Realty by 3.5% in the first quarter. Royal Bank of Canada now owns 251,550 shares of the real estate investment trust's stock valued at $9,849,000 after acquiring an additional 8,506 shares during the last quarter. AQR Capital Management LLC lifted its stake in Rexford Industrial Realty by 309.8% in the first quarter. AQR Capital Management LLC now owns 118,245 shares of the real estate investment trust's stock valued at $4,628,000 after acquiring an additional 89,390 shares during the last quarter. Goldman Sachs Group Inc. lifted its stake in Rexford Industrial Realty by 41.0% in the first quarter. Goldman Sachs Group Inc. now owns 1,811,775 shares of the real estate investment trust's stock valued at $70,931,000 after acquiring an additional 526,877 shares during the last quarter. Cetera Investment Advisers lifted its stake in Rexford Industrial Realty by 52.7% in the second quarter. Cetera Investment Advisers now owns 16,956 shares of the real estate investment trust's stock valued at $603,000 after acquiring an additional 5,854 shares during the last quarter. Finally, EverSource Wealth Advisors LLC lifted its stake in Rexford Industrial Realty by 131.6% in the second quarter. EverSource Wealth Advisors LLC now owns 3,252 shares of the real estate investment trust's stock valued at $116,000 after acquiring an additional 1,848 shares during the last quarter. 99.52% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Truist Financial reduced their price objective on shares of Rexford Industrial Realty from $44.00 to $40.00 and set a "buy" rating for the company in a research note on Wednesday, February 18th. JPMorgan Chase & Co. reduced their price objective on shares of Rexford Industrial Realty from $42.00 to $39.00 and set a "neutral" rating for the company in a research note on Wednesday, February 18th. Cantor Fitzgerald reduced their price objective on shares of Rexford Industrial Realty from $50.00 to $45.00 and set an "overweight" rating for the company in a research note on Friday, February 6th. Wall Street Zen upgraded shares of Rexford Industrial Realty from a "strong sell" rating to a "sell" rating in a research note on Sunday, April 26th. Finally, iA Financial set a $45.00 price objective on shares of Rexford Industrial Realty in a research note on Friday, February 6th. Four equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $41.92.

Rexford Industrial Realty Price Performance

NYSE:REXR opened at $35.13 on Tuesday. The stock has a market cap of $7.93 billion, a P/E ratio of 37.77, a PEG ratio of 1.49 and a beta of 1.23. Rexford Industrial Realty, Inc. has a one year low of $32.14 and a one year high of $44.38. The company has a fifty day moving average price of $35.25 and a 200 day moving average price of $38.64. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.50 and a quick ratio of 1.50.

Rexford Industrial Realty (NYSE:REXR - Get Free Report) last released its earnings results on Thursday, April 23rd. The real estate investment trust reported $0.38 EPS for the quarter, beating the consensus estimate of $0.27 by $0.11. The firm had revenue of $242.14 million during the quarter, compared to analysts' expectations of $243.79 million. Rexford Industrial Realty had a net margin of 23.25% and a return on equity of 2.64%. The business's quarterly revenue was down 2.9% compared to the same quarter last year. During the same period in the prior year, the company earned $0.62 EPS. Rexford Industrial Realty has set its FY 2026 guidance at 2.370-2.42 EPS. Analysts anticipate that Rexford Industrial Realty, Inc. will post 2.39 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 Wednesday, July 15th. Investors of record on Tuesday, June 30th will be paid a dividend of $0.435 per share. This represents a $1.74 annualized dividend and a yield of 5.0%. The ex-dividend date is Tuesday, June 30th. Rexford Industrial Realty's dividend payout ratio is presently 187.10%.

Insider Activity

In related news, General Counsel David E. Lanzer sold 33,299 shares of the company's stock in a transaction on Tuesday, April 28th. The shares were sold at an average price of $35.47, for a total transaction of $1,181,115.53. Following the completion of the transaction, the general counsel directly owned 33,299 shares in the company, valued at $1,181,115.53. This represents a 50.00% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Laura E. Clark bought 5,310 shares of the business's stock in a transaction that occurred on Friday, February 27th. The shares were bought at an average price of $37.73 per share, with a total value of $200,346.30. Following the completion of the purchase, the chief operating officer owned 5,310 shares in the company, valued at approximately $200,346.30. The trade was a ∞ increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last quarter, insiders acquired 12,960 shares of company stock worth $486,804. Corporate insiders own 1.80% of the company's stock.

About Rexford Industrial Realty

Rexford Industrial Realty, Inc NYSE: REXR is a real estate investment trust (REIT) specializing in the acquisition, ownership and operation of industrial properties in Southern California. The company's portfolio is concentrated in infill locations across key supply-chain markets, where it targets modern distribution centers, logistics facilities and light manufacturing spaces. Rexford's strategy emphasizes buildings that offer proximity to major transportation routes and labor pools, catering to tenants in e-commerce, third-party logistics and manufacturing industries.

Since its founding in 2013, Rexford Industrial Realty has executed a disciplined growth plan driven by property acquisitions, selective development projects and strategic value-add initiatives.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.