Allspring Global Investments Holdings LLC lessened its stake in Rexford Industrial Realty, Inc. (NYSE:REXR - Free Report) by 98.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 12,636 shares of the real estate investment trust's stock after selling 826,914 shares during the quarter. Allspring Global Investments Holdings LLC's holdings in Rexford Industrial Realty were worth $495,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently modified their holdings of REXR. GAMMA Investing LLC grew its position in Rexford Industrial Realty by 211.2% during the 1st quarter. GAMMA Investing LLC now owns 1,441 shares of the real estate investment trust's stock worth $56,000 after acquiring an additional 978 shares during the last quarter. Bessemer Group Inc. boosted its stake in shares of Rexford Industrial Realty by 118.4% during the first 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 in the last quarter. Oppenheimer Asset Management Inc. grew its holdings in shares of Rexford Industrial Realty by 40.5% during the first quarter. Oppenheimer Asset Management Inc. now owns 36,792 shares of the real estate investment trust's stock worth $1,440,000 after purchasing an additional 10,603 shares during the last quarter. Raymond James Financial Inc. acquired a new position in shares of Rexford Industrial Realty in the fourth quarter valued at approximately $11,830,000. Finally, Vert Asset Management LLC raised its holdings in Rexford Industrial Realty by 7.7% in the 1st quarter. Vert Asset Management LLC now owns 105,484 shares of the real estate investment trust's stock valued at $4,130,000 after buying an additional 7,517 shares during the last quarter. Institutional investors own 99.52% of the company's stock.
Wall Street Analyst Weigh In
A number of analysts recently weighed in on the company. Industrial Alliance Securities set a $38.00 price objective on Rexford Industrial Realty in a report on Tuesday, March 25th. Scotiabank reduced their price target on Rexford Industrial Realty from $39.00 to $37.00 and set a "sector perform" rating on the stock in a research report on Monday, May 12th. Truist Financial lowered their price objective 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. Wells Fargo & Company reduced their target price on Rexford Industrial Realty from $45.00 to $39.00 and set an "overweight" rating on the stock in a report on Monday, May 19th. Finally, JPMorgan Chase & Co. decreased their target price on shares of Rexford Industrial Realty from $44.00 to $37.00 and set a "neutral" rating for the company in a research report on Thursday, April 24th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $40.00.
View Our Latest Report on REXR
Rexford Industrial Realty Stock Performance
Shares of Rexford Industrial Realty stock traded up $0.13 on Friday, reaching $37.06. 3,163,566 shares of the stock were exchanged, compared to its average volume of 2,180,967. Rexford Industrial Realty, Inc. has a twelve month low of $29.68 and a twelve month high of $52.61. The company has a quick ratio of 4.90, a current ratio of 4.90 and a debt-to-equity ratio of 0.37. The firm has a market capitalization of $8.77 billion, a price-to-earnings ratio of 29.89, a PEG ratio of 3.40 and a beta of 1.13. The business has a 50 day moving average price of $35.86 and a two-hundred day moving average price of $37.35.
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 EPS for the quarter, topping the consensus estimate of $0.57 by $0.05. Rexford Industrial Realty had a net margin of 28.96% and a return on equity of 3.31%. The company had revenue of $248.82 million during the quarter, compared to analyst estimates of $246.74 million. Analysts anticipate that Rexford Industrial Realty, Inc. will post 2.38 earnings per share 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. Shareholders of record on Monday, June 30th will be given a $0.43 dividend. The ex-dividend date is Monday, June 30th. This represents a $1.72 dividend on an annualized basis and a yield of 4.64%. Rexford Industrial Realty's payout ratio is currently 138.71%.
Rexford Industrial Realty Company 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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