abrdn plc Sells 2,678 Shares of Rexford Industrial Realty, Inc. (NYSE:REXR)

abrdn plc trimmed its stake in Rexford Industrial Realty, Inc. (NYSE:REXR) by 6.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 40,225 shares of the real estate investment trust’s stock after selling 2,678 shares during the period. abrdn plc’s holdings in Rexford Industrial Realty were worth $2,257,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in REXR. Fifth Third Bancorp raised its position in shares of Rexford Industrial Realty by 58.2% in the 3rd 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 in the last quarter. Ninepoint Partners LP bought a new position in shares of Rexford Industrial Realty in the 3rd quarter worth $108,000. Signaturefd LLC raised its position in shares of Rexford Industrial Realty by 45.9% in the 3rd quarter. Signaturefd LLC now owns 2,270 shares of the real estate investment trust’s stock worth $112,000 after acquiring an additional 714 shares in the last quarter. International Assets Investment Management LLC raised its position in shares of Rexford Industrial Realty by 5,510.9% in 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 acquiring an additional 3,031 shares in the last quarter. Finally, Assetmark Inc. raised its position in shares of Rexford Industrial Realty by 13.9% in the 3rd quarter. Assetmark Inc. now owns 4,016 shares of the real estate investment trust’s stock worth $198,000 after acquiring an additional 489 shares in the last quarter. 99.52% of the stock is owned by institutional investors.

Insider Buying and Selling at Rexford Industrial Realty

In other news, General Counsel David E. Lanzer sold 18,113 shares of the company’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $52.69, for a total value of $954,373.97. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.10% of the company’s stock.

Rexford Industrial Realty Stock Up 0.5 %

Shares of REXR opened at $43.20 on Monday. Rexford Industrial Realty, Inc. has a 52 week low of $41.56 and a 52 week high of $58.02. The company has a quick ratio of 3.21, a current ratio of 3.21 and a debt-to-equity ratio of 0.41. The company has a market capitalization of $9.41 billion, a price-to-earnings ratio of 39.63, a PEG ratio of 1.90 and a beta of 0.86. The stock’s 50-day moving average price is $49.30 and its 200-day moving average price is $50.44.

Rexford Industrial Realty (NYSE:REXR) last released 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). The business had revenue of $214.10 million during the quarter, compared to analyst estimates of $207.39 million. Rexford Industrial Realty had a return on equity of 3.04% and a net margin of 28.84%. The business’s revenue for the quarter was up 15.0% compared to the same quarter last year. During the same period in the previous year, the company posted $0.52 EPS. On average, sell-side analysts predict that Rexford Industrial Realty, Inc. will post 2.33 EPS for the current year.

Rexford Industrial Realty Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Friday, June 28th will be issued a dividend of $0.417 per share. The ex-dividend date of this dividend is Friday, June 28th. This represents a $1.67 dividend on an annualized basis and a dividend yield of 3.86%. Rexford Industrial Realty’s payout ratio is currently 153.21%.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the company. TheStreet upgraded Rexford Industrial Realty from a “c+” rating to a “b-” rating in a research note on Thursday, February 1st. Robert W. Baird reiterated a “neutral” rating and set a $61.00 price target (up previously from $53.00) on shares of Rexford Industrial Realty in a research note on Friday, January 5th. Mizuho reiterated a “neutral” rating and set a $52.00 price target on shares of Rexford Industrial Realty in a research note on Tuesday, April 2nd. Barclays boosted their price target on Rexford Industrial Realty from $45.00 to $46.00 and gave the company an “underweight” rating in a research note on Tuesday, April 23rd. Finally, Wedbush assumed coverage on Rexford Industrial Realty in a research note on Monday, April 22nd. They set a “neutral” rating and a $45.00 price target on the stock. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $54.73.

Rexford Industrial Realty 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.