279,986 Rexford Industrial Realty, Inc. $REXR Shares Sold by M&G PLC

M&G PLC trimmed its holdings in Rexford Industrial Realty, Inc. (NYSE:REXR) by 83.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 56,346 shares of the real estate investment trust’s stock after selling 279,986 shares during the period. M&G PLC’s holdings in Rexford Industrial Realty were worth $2,028,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the business. BlackRock Inc. bought a new stake in Rexford Industrial Realty in the 2nd quarter valued at $1,293,168,000. Dimensional Fund Advisors LP increased its holdings in shares of Rexford Industrial Realty by 2.4% in the first quarter. Dimensional Fund Advisors LP now owns 3,581,987 shares of the real estate investment trust’s stock valued at $117,239,000 after purchasing an additional 85,135 shares during the last quarter. Legal & General Group Plc acquired a new position in shares of Rexford Industrial Realty in the second quarter valued at $86,861,000. Bank of America Corp DE acquired a new position in shares of Rexford Industrial Realty in the second quarter valued at $79,547,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Rexford Industrial Realty by 41,558.2% in the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,654,665 shares of the real estate investment trust’s stock valued at $55,431,000 after purchasing an additional 1,650,693 shares during the period. 99.52% of the stock is owned by institutional investors and hedge funds.

Rexford Industrial Realty Trading Down 0.2%

Shares of Rexford Industrial Realty stock opened at $37.88 on Thursday. The firm has a 50-day moving average of $37.57 and a 200-day moving average of $36.38. The stock has a market cap of $8.04 billion, a PE ratio of 15.62 and a beta of 1.11. Rexford Industrial Realty, Inc. has a 52-week low of $32.14 and a 52-week high of $42.41. The company has a debt-to-equity ratio of 0.38, a quick ratio of 4.08 and a current ratio of 4.08.

Rexford Industrial Realty (NYSE:REXR) last released its quarterly earnings results on Thursday, October 22nd. The real estate investment trust reported $0.07 EPS for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.53). Rexford Industrial Realty had a negative return on equity of 5.72% and a negative net margin of 47.15%. The business had revenue of $239.10 million for the quarter, compared to the consensus estimate of $232.95 million. During the same period in the prior year, the business posted $0.60 earnings per share. Rexford Industrial Realty’s revenue was down 5.6% compared to the same quarter last year. As a group, sell-side analysts forecast that Rexford Industrial Realty, Inc. will post 2.42 EPS for the current year.

Rexford Industrial Realty Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 15th. Stockholders of record on Thursday, December 31st will be issued a dividend of $0.4350 per share. The ex-dividend date of this dividend is Thursday, December 31st. This represents a $1.74 annualized dividend and a dividend yield of 4.6%. Rexford Industrial Realty’s dividend payout ratio (DPR) is currently -82.46%.

Analyst Upgrades and Downgrades

REXR has been the subject of a number of research reports. Raymond James Financial upgraded shares of Rexford Industrial Realty from an “underperform” rating to a “market perform” rating in a research note on Tuesday, September 15th. Evercore reiterated an “outperform” rating on shares of Rexford Industrial Realty in a research note on Monday, July 27th. Truist Financial upped their price target on shares of Rexford Industrial Realty from $39.00 to $42.00 and gave the company a “buy” rating in a research note on Tuesday, November 3rd. Cantor Fitzgerald lowered their price target on shares of Rexford Industrial Realty from $45.00 to $44.00 and set an “overweight” rating on the stock in a report on Monday, October 26th. Finally, BMO Capital Markets raised their price objective on shares of Rexford Industrial Realty from $38.00 to $39.00 and gave the stock an “outperform” rating in a research report on Monday, September 28th. Seven research analysts have rated the stock with a Buy rating, five have issued a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, Rexford Industrial Realty currently has an average rating of “Hold” and a consensus price target of $41.14.

About Rexford Industrial Realty

Rexford Industrial Realty, Inc. is a real estate investment trust that owns, operates, acquires, develops and redevelops industrial properties. Its portfolio primarily serves businesses that need warehouse, distribution, manufacturing and other industrial space. The company focuses on infill markets in Southern California, including Los Angeles, Orange County, San Diego, the Inland Empire and Ventura County. Its strategy centers on properties in established areas with access to customers, workers and transportation networks.