Baillie Gifford & Co. Sells 119,289 Shares of Rexford Industrial Realty, Inc. (NYSE:REXR)

Baillie Gifford & Co. trimmed its holdings in shares of Rexford Industrial Realty, Inc. (NYSE:REXR - Free Report) by 15.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 634,042 shares of the real estate investment trust's stock after selling 119,289 shares during the quarter. Baillie Gifford & Co. owned about 0.30% of Rexford Industrial Realty worth $35,570,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Envestnet Asset Management Inc. lifted its position in shares of Rexford Industrial Realty by 139.5% during the 3rd quarter. Envestnet Asset Management Inc. now owns 232,848 shares of the real estate investment trust's stock valued at $11,491,000 after acquiring an additional 135,627 shares during the period. Pacer Advisors Inc. lifted its position in Rexford Industrial Realty by 12.8% during the fourth quarter. Pacer Advisors Inc. now owns 207,609 shares of the real estate investment trust's stock worth $11,647,000 after purchasing an additional 23,510 shares during the period. Citigroup Inc. grew its stake in Rexford Industrial Realty by 63.9% during the third quarter. Citigroup Inc. now owns 104,103 shares of the real estate investment trust's stock worth $5,137,000 after buying an additional 40,587 shares in the last quarter. The Manufacturers Life Insurance Company increased its holdings in Rexford Industrial Realty by 6.8% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 314,170 shares of the real estate investment trust's stock valued at $15,506,000 after buying an additional 19,981 shares during the period. Finally, Spirit of America Management Corp NY increased its holdings in Rexford Industrial Realty by 15.2% in the 3rd quarter. Spirit of America Management Corp NY now owns 19,000 shares of the real estate investment trust's stock valued at $938,000 after buying an additional 2,500 shares during the period. Institutional investors and hedge funds own 99.52% of the company's stock.

Analysts Set New Price Targets

Several brokerages recently commented on REXR. Mizuho reissued a "neutral" rating and issued a $52.00 price objective on shares of Rexford Industrial Realty in a research note on Tuesday, April 2nd. Truist Financial reduced their price objective on shares of Rexford Industrial Realty from $61.00 to $57.00 and set a "buy" rating on the stock in a research note on Thursday, February 15th. Barclays assumed coverage on shares of Rexford Industrial Realty in a research note on Wednesday, March 27th. They set an "underweight" rating and a $45.00 target price for the company. Robert W. Baird restated a "neutral" rating and issued a $61.00 target price (up previously from $53.00) on shares of Rexford Industrial Realty in a report on Friday, January 5th. Finally, TheStreet upgraded Rexford Industrial Realty from a "c+" rating to a "b-" rating in a report on Thursday, February 1st. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $56.00.

Rexford Industrial Realty Stock Down 0.6 %

Shares of REXR stock traded down $0.30 on Thursday, reaching $47.59. 2,504,036 shares of the company were exchanged, compared to its average volume of 1,776,091. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.35 and a quick ratio of 1.35. The company has a 50-day moving average of $51.26 and a 200-day moving average of $50.82. The company has a market cap of $10.24 billion, a price-to-earnings ratio of 42.49, a PEG ratio of 2.25 and a beta of 0.86. Rexford Industrial Realty, Inc. has a one year low of $41.56 and a one year high of $58.12.

Rexford Industrial Realty Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 15th. Shareholders of record on Thursday, March 28th will be paid a $0.4175 dividend. This represents a $1.67 dividend on an annualized basis and a dividend yield of 3.51%. This is a positive change from Rexford Industrial Realty's previous quarterly dividend of $0.38. The ex-dividend date of this dividend is Wednesday, March 27th. Rexford Industrial Realty's dividend payout ratio (DPR) is 149.11%.

Insider Activity

In other Rexford Industrial Realty news, General Counsel David E. Lanzer sold 18,113 shares of Rexford Industrial Realty stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $52.69, for a total transaction of $954,373.97. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 1.10% of the company's stock.

About Rexford Industrial Realty

Rexford Industrial creates value by investing in, operating and redeveloping industrial properties throughout infill Southern California, the world's fourth largest industrial market and consistently the highest-demand with lowest-supply major market in the nation. The Company's highly differentiated strategy enables internal and external growth opportunities through its proprietary value creation and asset management capabilities.