Schroder Investment Management Group Sells 563,428 Shares of Rexford Industrial Realty, Inc. (NYSE:REXR)

Schroder Investment Management Group lowered its holdings in Rexford Industrial Realty, Inc. (NYSE:REXRFree Report) by 21.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,019,101 shares of the real estate investment trust’s stock after selling 563,428 shares during the period. Schroder Investment Management Group owned about 0.96% of Rexford Industrial Realty worth $113,272,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in REXR. GAMMA Investing LLC acquired a new stake in Rexford Industrial Realty in the fourth quarter valued at $41,000. Principal Securities Inc. acquired a new stake in shares of Rexford Industrial Realty during the 4th quarter worth about $96,000. International Assets Investment Management LLC lifted its stake in shares of Rexford Industrial Realty by 5,510.9% during the 4th quarter. International Assets Investment Management LLC now owns 3,086 shares of the real estate investment trust’s stock worth $173,000 after buying an additional 3,031 shares during the last quarter. Cetera Trust Company N.A acquired a new stake in shares of Rexford Industrial Realty during the 4th quarter worth about $189,000. Finally, Shell Asset Management Co. lifted its stake in shares of Rexford Industrial Realty by 20.0% during the 3rd quarter. Shell Asset Management Co. now owns 4,540 shares of the real estate investment trust’s stock worth $224,000 after buying an additional 758 shares during the last quarter. Institutional investors and hedge funds own 99.52% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. Truist Financial cut their target price on shares of Rexford Industrial Realty from $53.00 to $50.00 and set a “buy” rating for the company in a research note on Thursday, May 2nd. Wedbush started coverage on shares of Rexford Industrial Realty in a research report on Monday, April 22nd. They set a “neutral” rating and a $45.00 price target on the stock. Scotiabank lowered their price target on shares of Rexford Industrial Realty from $55.00 to $51.00 and set a “sector outperform” rating on the stock in a research report on Thursday, May 16th. Mizuho lowered their price target on shares of Rexford Industrial Realty from $52.00 to $50.00 and set a “neutral” rating on the stock in a research report on Friday, May 31st. Finally, Robert W. Baird lowered their price target on shares of Rexford Industrial Realty from $57.00 to $49.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 1st. Two research analysts have rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $52.82.

Check Out Our Latest Stock Analysis on Rexford Industrial Realty

Rexford Industrial Realty Price Performance

REXR stock traded down $0.54 during mid-day trading on Friday, hitting $44.12. The stock had a trading volume of 814,964 shares, compared to its average volume of 1,805,120. The company has a current ratio of 3.21, a quick ratio of 3.21 and a debt-to-equity ratio of 0.41. Rexford Industrial Realty, Inc. has a 52 week low of $41.56 and a 52 week high of $58.02. The firm has a market capitalization of $9.61 billion, a P/E ratio of 40.48, a P/E/G ratio of 1.78 and a beta of 0.93. The firm has a fifty day simple moving average of $45.13 and a 200 day simple moving average of $50.22.

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

Rexford Industrial Realty Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Friday, June 28th will be issued a dividend of $0.417 per share. This represents a $1.67 annualized dividend and a dividend yield of 3.78%. The ex-dividend date is Friday, June 28th. Rexford Industrial Realty’s dividend payout ratio (DPR) is presently 153.21%.

Rexford Industrial Realty Company Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Rexford Industrial Realty (NYSE:REXR)

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