Franklin Resources Inc. Sells 709,915 Shares of Rexford Industrial Realty, Inc. $REXR

Franklin Resources Inc. cut its holdings in Rexford Industrial Realty, Inc. (NYSE:REXR) by 97.1% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 21,140 shares of the real estate investment trust’s stock after selling 709,915 shares during the period. Franklin Resources Inc.’s holdings in Rexford Industrial Realty were worth $752,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of REXR. Allspring Global Investments Holdings LLC boosted its holdings in Rexford Industrial Realty by 3.3% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 13,059 shares of the real estate investment trust’s stock valued at $472,000 after purchasing an additional 423 shares during the period. Amundi increased its holdings in shares of Rexford Industrial Realty by 5.8% in the first quarter. Amundi now owns 126,678 shares of the real estate investment trust’s stock worth $4,544,000 after purchasing an additional 6,970 shares during the period. Pallas Capital Advisors LLC purchased a new stake in shares of Rexford Industrial Realty in the second quarter worth $267,000. Truvestments Capital LLC purchased a new stake in shares of Rexford Industrial Realty in the first quarter worth $3,030,000. Finally, Sumitomo Mitsui Trust Group Inc. boosted its stake in Rexford Industrial Realty by 3.8% during the second quarter. Sumitomo Mitsui Trust Group Inc. now owns 258,815 shares of the real estate investment trust’s stock valued at $9,206,000 after buying an additional 9,443 shares during the period. 99.52% of the stock is currently owned by hedge funds and other institutional investors.

Rexford Industrial Realty Trading Down 1.1%

REXR stock opened at $40.72 on Monday. The company has a market capitalization of $9.48 billion, a PE ratio of 28.68, a price-to-earnings-growth ratio of 2.52 and a beta of 1.22. The company has a debt-to-equity ratio of 0.37, a quick ratio of 2.95 and a current ratio of 2.95. Rexford Industrial Realty, Inc. has a one year low of $29.68 and a one year high of $44.38. The company’s 50 day moving average price is $41.57 and its two-hundred day moving average price is $39.37.

Rexford Industrial Realty (NYSE:REXR) last announced its quarterly earnings data on Wednesday, October 15th. The real estate investment trust reported $0.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.59 by $0.01. The company had revenue of $253.24 million during the quarter, compared to analysts’ expectations of $253.46 million. Rexford Industrial Realty had a net margin of 33.88% and a return on equity of 3.81%. The firm’s revenue was up 4.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.59 EPS. Rexford Industrial Realty has set its FY 2025 guidance at 2.390-2.410 EPS. As a group, analysts predict that Rexford Industrial Realty, Inc. will post 2.38 earnings per share for the current fiscal year.

Rexford Industrial Realty Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 15th. Stockholders of record on Wednesday, December 31st will be paid a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a dividend yield of 4.2%. The ex-dividend date of this dividend is Wednesday, December 31st. Rexford Industrial Realty’s dividend payout ratio (DPR) is 121.13%.

Insider Activity at Rexford Industrial Realty

In other news, CEO Michael S. Frankel sold 20,318 shares of Rexford Industrial Realty stock in a transaction dated Thursday, December 4th. The stock was sold at an average price of $41.61, for a total value of $845,431.98. Following the transaction, the chief executive officer owned 602,288 shares in the company, valued at approximately $25,061,203.68. The trade was a 3.26% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders sold a total of 38,368 shares of company stock valued at $1,594,581 in the last quarter. 1.20% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

REXR has been the topic of a number of research analyst reports. Industrial Alliance Securities set a $42.00 target price on Rexford Industrial Realty in a research note on Wednesday, November 19th. Truist Financial upped their price objective on shares of Rexford Industrial Realty from $44.00 to $45.00 and gave the stock a “buy” rating in a research report on Wednesday, November 5th. Cantor Fitzgerald started coverage on shares of Rexford Industrial Realty in a research report on Wednesday, October 1st. They set an “overweight” rating and a $50.00 target price for the company. Evercore ISI decreased their price target on shares of Rexford Industrial Realty from $42.00 to $41.00 and set an “in-line” rating on the stock in a report on Monday, December 1st. Finally, Wall Street Zen cut shares of Rexford Industrial Realty from a “hold” rating to a “sell” rating in a research report on Saturday, October 18th. Three equities research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $43.08.

Rexford Industrial Realty 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.