Allspring Global Investments Holdings LLC Sells 826,914 Shares of Rexford Industrial Realty, Inc. (NYSE:REXR)

Allspring Global Investments Holdings LLC cut its holdings in shares of Rexford Industrial Realty, Inc. (NYSE:REXR - Free Report) by 98.5% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 12,636 shares of the real estate investment trust's stock after selling 826,914 shares during the period. Allspring Global Investments Holdings LLC's holdings in Rexford Industrial Realty were worth $495,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in REXR. MassMutual Private Wealth & Trust FSB lifted its position in Rexford Industrial Realty by 332.9% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 736 shares of the real estate investment trust's stock valued at $29,000 after purchasing an additional 566 shares during the period. Bessemer Group Inc. lifted its position in Rexford Industrial Realty by 118.4% during 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. Quantbot Technologies LP acquired a new stake in shares of Rexford Industrial Realty in the 4th quarter valued at approximately $33,000. GAMMA Investing LLC raised its position in shares of Rexford Industrial Realty by 211.2% in the 1st quarter. GAMMA Investing LLC now owns 1,441 shares of the real estate investment trust's stock valued at $56,000 after acquiring an additional 978 shares during the period. Finally, Whittier Trust Co. of Nevada Inc. raised its position in shares of Rexford Industrial Realty by 515.7% in the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 1,490 shares of the real estate investment trust's stock valued at $58,000 after acquiring an additional 1,248 shares during the period. 99.52% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on REXR. Barclays cut their price target on shares of Rexford Industrial Realty from $38.00 to $35.00 and set an "underweight" rating on the stock in a research report on Wednesday, April 30th. Robert W. Baird set a $43.00 price target on shares of Rexford Industrial Realty in a research report on Tuesday, May 6th. Industrial Alliance Securities set a $38.00 price target on shares of Rexford Industrial Realty in a research report on Tuesday, March 25th. Wells Fargo & Company cut their price target on shares of Rexford Industrial Realty from $45.00 to $39.00 and set an "overweight" rating on the stock in a research report on Monday, May 19th. Finally, Truist Financial lowered their target price on 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. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $40.00.

Rexford Industrial Realty Stock Up 0.1%

Shares of REXR traded up $0.05 during mid-day trading on Monday, hitting $37.11. 5,043,167 shares of the company's stock were exchanged, compared to its average volume of 2,192,416. The company has a market cap of $8.78 billion, a PE ratio of 29.93, a P/E/G ratio of 3.40 and a beta of 1.13. Rexford Industrial Realty, Inc. has a 52 week low of $29.68 and a 52 week high of $52.61. The company has a 50-day simple moving average of $35.86 and a 200 day simple moving average of $37.34. The company has a debt-to-equity ratio of 0.37, a current ratio of 4.90 and a quick ratio of 4.90.

Rexford Industrial Realty (NYSE:REXR - Get Free Report) last issued its quarterly earnings results on Wednesday, April 16th. The real estate investment trust reported $0.62 earnings per share for the quarter, topping the consensus estimate of $0.57 by $0.05. The company had revenue of $248.82 million during the quarter, compared to analysts' expectations of $246.74 million. Rexford Industrial Realty had a net margin of 28.96% and a return on equity of 3.31%. On average, research analysts forecast that Rexford Industrial Realty, Inc. will post 2.38 earnings per share for the current fiscal year.

Rexford Industrial Realty Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th will be paid a dividend of $0.43 per share. The ex-dividend date is Monday, June 30th. This represents a $1.72 annualized dividend and a dividend yield of 4.63%. Rexford Industrial Realty's dividend payout ratio is currently 138.71%.

About Rexford Industrial Realty

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.