Rexford Industrial Realty, Inc. (NYSE:REXR) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC reduced its stake in Rexford Industrial Realty, Inc. (NYSE:REXR) by 98.5% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 12,636 shares of the real estate investment trust’s stock after selling 826,914 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Rexford Industrial Realty were worth $495,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Proficio Capital Partners LLC acquired a new position in shares of Rexford Industrial Realty during the fourth quarter worth approximately $417,000. Raymond James Financial Inc. acquired a new position in shares of Rexford Industrial Realty during the fourth quarter worth approximately $11,830,000. Amundi boosted its position in shares of Rexford Industrial Realty by 0.8% during the fourth quarter. Amundi now owns 119,708 shares of the real estate investment trust’s stock worth $4,579,000 after buying an additional 956 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Rexford Industrial Realty by 50.3% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 139,566 shares of the real estate investment trust’s stock worth $5,396,000 after buying an additional 46,703 shares during the period. Finally, EverSource Wealth Advisors LLC boosted its position in shares of Rexford Industrial Realty by 441.2% during the fourth quarter. EverSource Wealth Advisors LLC now owns 5,017 shares of the real estate investment trust’s stock worth $194,000 after buying an additional 4,090 shares during the period. 99.52% of the stock is currently owned by institutional investors and hedge funds.

Rexford Industrial Realty Price Performance

NYSE REXR opened at $36.98 on Friday. The stock has a market capitalization of $8.75 billion, a P/E ratio of 29.82, a P/E/G ratio of 3.37 and a beta of 1.13. Rexford Industrial Realty, Inc. has a 1 year low of $29.68 and a 1 year high of $52.61. The business’s fifty day moving average is $35.81 and its two-hundred day moving average is $37.37. The company has a debt-to-equity ratio of 0.37, a quick ratio of 4.90 and a current ratio of 4.90.

Rexford Industrial Realty (NYSE:REXR) last posted its quarterly earnings results on Wednesday, April 16th. The real estate investment trust reported $0.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.05. The company had revenue of $248.82 million for the quarter, compared to analysts’ expectations of $246.74 million. Rexford Industrial Realty had a return on equity of 3.31% and a net margin of 28.96%. On average, research analysts forecast that Rexford Industrial Realty, Inc. will post 2.38 earnings per share for the current fiscal year.

Rexford Industrial Realty Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th will be paid a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a yield of 4.65%. The ex-dividend date is Monday, June 30th. Rexford Industrial Realty’s dividend payout ratio (DPR) is currently 138.71%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on REXR shares. Robert W. Baird set a $43.00 price objective on Rexford Industrial Realty in a research report on Tuesday, May 6th. Evercore ISI cut their target price on Rexford Industrial Realty from $43.00 to $40.00 and set an “outperform” rating for the company in a research report on Monday, April 21st. Barclays cut their target price on Rexford Industrial Realty from $38.00 to $35.00 and set an “underweight” rating for the company in a research report on Wednesday, April 30th. Industrial Alliance Securities set a $38.00 target price on Rexford Industrial Realty in a research report on Tuesday, March 25th. Finally, Truist Financial cut their target price 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. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, Rexford Industrial Realty presently has a consensus rating of “Hold” and a consensus target price of $40.00.

Rexford Industrial Realty Company Profile

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.