M&G Plc Grows Stock Holdings in Rexford Industrial Realty, Inc. (NYSE:REXR)

M&G Plc increased its stake in shares of Rexford Industrial Realty, Inc. (NYSE:REXR) by 24.0% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 935,892 shares of the real estate investment trust’s stock after buying an additional 180,940 shares during the quarter. M&G Plc owned about 0.43% of Rexford Industrial Realty worth $46,795,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Vanguard Group Inc. boosted its holdings in Rexford Industrial Realty by 2.6% in the 1st quarter. Vanguard Group Inc. now owns 29,734,952 shares of the real estate investment trust’s stock valued at $1,495,668,000 after purchasing an additional 753,098 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in Rexford Industrial Realty by 26.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 19,933,431 shares of the real estate investment trust’s stock valued at $1,002,654,000 after purchasing an additional 4,197,907 shares in the last quarter. Capital International Investors boosted its holdings in Rexford Industrial Realty by 687.7% in the 1st quarter. Capital International Investors now owns 19,590,676 shares of the real estate investment trust’s stock valued at $985,411,000 after purchasing an additional 17,103,653 shares in the last quarter. Centersquare Investment Management LLC boosted its holdings in Rexford Industrial Realty by 1.1% in the 1st quarter. Centersquare Investment Management LLC now owns 3,938,026 shares of the real estate investment trust’s stock valued at $198,083,000 after purchasing an additional 42,632 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in Rexford Industrial Realty by 6.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,326,694 shares of the real estate investment trust’s stock valued at $148,337,000 after purchasing an additional 200,027 shares in the last quarter. Hedge funds and other institutional investors own 99.52% of the company’s stock.

Insider Activity

In other news, CFO Laura E. Clark sold 14,185 shares of the business’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $50.15, for a total transaction of $711,377.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 1.20% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on REXR. Truist Financial lifted their price objective on Rexford Industrial Realty from $50.00 to $54.00 and gave the company a “buy” rating in a report on Tuesday, July 30th. JPMorgan Chase & Co. lifted their price objective on Rexford Industrial Realty from $47.00 to $52.00 and gave the company a “neutral” rating in a report on Thursday, July 25th. Industrial Alliance Securities set a $55.00 price target on shares of Rexford Industrial Realty in a research report on Friday, October 18th. Bank of America downgraded shares of Rexford Industrial Realty from a “buy” rating to a “neutral” rating and reduced their price target for the company from $66.00 to $49.00 in a research report on Monday, October 21st. Finally, Wells Fargo & Company reduced their price target on shares of Rexford Industrial Realty from $66.00 to $61.00 and set an “overweight” rating for the company in a research report on Wednesday, August 28th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $51.45.

Rexford Industrial Realty Trading Down 2.4 %

Shares of Rexford Industrial Realty stock opened at $42.70 on Thursday. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.20 and a quick ratio of 1.20. Rexford Industrial Realty, Inc. has a 1 year low of $41.89 and a 1 year high of $58.02. The company has a market capitalization of $9.50 billion, a P/E ratio of 34.72, a P/E/G ratio of 2.06 and a beta of 0.94. The business has a 50 day moving average price of $48.07 and a 200 day moving average price of $47.09.

Rexford Industrial Realty (NYSE:REXR) last issued its quarterly earnings results on Wednesday, October 16th. The real estate investment trust reported $0.30 earnings per share for the quarter, missing the consensus estimate of $0.58 by ($0.28). The business had revenue of $241.84 million during the quarter, compared to analyst estimates of $235.81 million. Rexford Industrial Realty had a net margin of 30.40% and a return on equity of 3.35%. The company’s revenue was up 17.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.56 earnings per share. Sell-side analysts anticipate that Rexford Industrial Realty, Inc. will post 2.34 EPS for the current fiscal year.

Rexford Industrial Realty Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be issued a $0.4175 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $1.67 annualized dividend and a yield of 3.91%. Rexford Industrial Realty’s dividend payout ratio (DPR) is presently 135.77%.

Rexford Industrial Realty Company 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.