Rexford Industrial Realty, Inc. (NYSE:REXR) Shares Purchased by Principal Financial Group Inc.

Principal Financial Group Inc. boosted its holdings in shares of Rexford Industrial Realty, Inc. (NYSE:REXR - Free Report) by 1.3% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 13,760,865 shares of the real estate investment trust's stock after purchasing an additional 181,552 shares during the period. Principal Financial Group Inc. owned about 6.52% of Rexford Industrial Realty worth $771,985,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in REXR. GAMMA Investing LLC purchased a new position in shares of Rexford Industrial Realty in the 4th quarter valued at about $41,000. Fifth Third Bancorp raised its position in Rexford Industrial Realty by 58.2% during the third quarter. Fifth Third Bancorp now owns 1,117 shares of the real estate investment trust's stock worth $55,000 after acquiring an additional 411 shares during the period. Principal Securities Inc. acquired a new position in shares of Rexford Industrial Realty during the 4th quarter worth about $96,000. Ninepoint Partners LP acquired a new stake in Rexford Industrial Realty in the 3rd quarter worth about $108,000. Finally, Signaturefd LLC raised its holdings in shares of Rexford Industrial Realty by 45.9% during the third quarter. Signaturefd LLC now owns 2,270 shares of the real estate investment trust's stock valued at $112,000 after acquiring an additional 714 shares during the last quarter. 99.52% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have recently weighed in on REXR. Robert W. Baird lowered their target price on Rexford Industrial Realty from $57.00 to $49.00 and set a "neutral" rating on the stock in a report on Wednesday, May 1st. Wedbush initiated coverage on Rexford Industrial Realty in a report on Monday, April 22nd. They set a "neutral" rating and a $45.00 price target on the stock. Truist Financial cut their price objective on shares of Rexford Industrial Realty from $53.00 to $50.00 and set a "buy" rating for the company in a research report on Thursday, May 2nd. Mizuho reaffirmed a "neutral" rating and set a $52.00 target price on shares of Rexford Industrial Realty in a research note on Tuesday, April 2nd. Finally, Barclays increased their price objective on Rexford Industrial Realty from $45.00 to $46.00 and gave the stock an "underweight" rating in a research report on Tuesday, April 23rd. Two analysts have rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat.com, Rexford Industrial Realty presently has an average rating of "Hold" and a consensus target price of $53.36.

Rexford Industrial Realty Stock Performance

Shares of Rexford Industrial Realty stock traded down $0.28 during trading hours on Monday, hitting $44.83. 1,211,589 shares of the company were exchanged, compared to its average volume of 1,918,822. The business has a 50-day moving average of $47.76 and a 200-day moving average of $50.31. Rexford Industrial Realty, Inc. has a 1 year low of $41.56 and a 1 year high of $58.02. The company has a current ratio of 3.21, a quick ratio of 3.21 and a debt-to-equity ratio of 0.41. The stock has a market capitalization of $9.76 billion, a price-to-earnings ratio of 40.96, a P/E/G ratio of 1.97 and a beta of 0.89.

Rexford Industrial Realty (NYSE:REXR - Get Free Report) last posted its quarterly earnings results on Thursday, April 18th. The real estate investment trust reported $0.27 earnings per share for the quarter, missing analysts' consensus estimates of $0.57 by ($0.30). Rexford Industrial Realty had a net margin of 28.84% and a return on equity of 3.04%. The business had revenue of $214.10 million during the quarter, compared to analysts' expectations of $207.39 million. During the same quarter last year, the firm earned $0.52 earnings per share. The firm's quarterly revenue was up 15.0% compared to the same quarter last year. As a group, analysts expect that Rexford Industrial Realty, Inc. will post 2.34 EPS for the current fiscal year.

Rexford Industrial Realty Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Friday, June 28th will be issued a $0.417 dividend. The ex-dividend date is Friday, June 28th. This represents a $1.67 dividend on an annualized basis and a dividend yield of 3.72%. Rexford Industrial Realty's dividend payout ratio (DPR) is 153.21%.

Rexford Industrial Realty Company Profile

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.

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