abrdn plc Increases Stake in Rexford Industrial Realty, Inc. (NYSE:REXR)

abrdn plc boosted its stake in shares of Rexford Industrial Realty, Inc. (NYSE:REXRGet Rating) by 9.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 35,471 shares of the real estate investment trust’s stock after acquiring an additional 3,023 shares during the quarter. abrdn plc’s holdings in Rexford Industrial Realty were worth $2,685,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. CWM LLC increased its position in shares of Rexford Industrial Realty by 411.2% in the first quarter. CWM LLC now owns 455 shares of the real estate investment trust’s stock valued at $34,000 after buying an additional 366 shares in the last quarter. Total Clarity Wealth Management Inc. purchased a new stake in shares of Rexford Industrial Realty in the fourth quarter valued at approximately $41,000. National Bank of Canada FI purchased a new stake in shares of Rexford Industrial Realty in the fourth quarter valued at approximately $43,000. First Horizon Advisors Inc. increased its position in shares of Rexford Industrial Realty by 28.7% in the fourth quarter. First Horizon Advisors Inc. now owns 727 shares of the real estate investment trust’s stock valued at $59,000 after buying an additional 162 shares in the last quarter. Finally, FourThought Financial LLC increased its position in shares of Rexford Industrial Realty by 11.8% in the first quarter. FourThought Financial LLC now owns 1,705 shares of the real estate investment trust’s stock valued at $127,000 after buying an additional 180 shares in the last quarter. 98.53% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Rexford Industrial Realty news, CEO Howard Schwimmer sold 16,402 shares of Rexford Industrial Realty stock in a transaction on Monday, July 25th. The stock was sold at an average price of $62.15, for a total value of $1,019,384.30. Following the sale, the chief executive officer now owns 68,070 shares in the company, valued at $4,230,550.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.50% of the stock is currently owned by corporate insiders.

Rexford Industrial Realty Stock Performance

NYSE REXR opened at $65.41 on Monday. The stock’s fifty day moving average is $60.98 and its two-hundred day moving average is $68.54. The firm has a market capitalization of $11.19 billion, a P/E ratio of 68.85, a price-to-earnings-growth ratio of 3.17 and a beta of 0.73. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.70 and a current ratio of 0.55. Rexford Industrial Realty, Inc. has a fifty-two week low of $55.84 and a fifty-two week high of $84.68.

Rexford Industrial Realty (NYSE:REXRGet Rating) last released its quarterly earnings data on Wednesday, July 20th. The real estate investment trust reported $0.22 earnings per share for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.02). The company had revenue of $149.12 million for the quarter, compared to analyst estimates of $149.21 million. Rexford Industrial Realty had a return on equity of 3.17% and a net margin of 29.79%. The business’s quarterly revenue was up 42.9% on a year-over-year basis. During the same period last year, the firm posted $0.39 EPS. On average, research analysts anticipate that Rexford Industrial Realty, Inc. will post 1.93 earnings per share for the current year.

Rexford Industrial Realty Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Saturday, October 15th. Shareholders of record on Friday, September 30th will be paid a dividend of $0.315 per share. This represents a $1.26 dividend on an annualized basis and a yield of 1.93%. The ex-dividend date of this dividend is Thursday, September 29th. Rexford Industrial Realty’s dividend payout ratio (DPR) is currently 132.63%.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on REXR. Wolfe Research began coverage on Rexford Industrial Realty in a research report on Tuesday, June 21st. They issued a “market perform” rating and a $63.00 price objective for the company. Wells Fargo & Company lowered their price target on Rexford Industrial Realty from $90.00 to $74.00 and set an “overweight” rating on the stock in a research note on Monday, June 6th. Robert W. Baird lifted their price target on Rexford Industrial Realty from $87.00 to $89.00 in a research note on Friday, July 22nd. StockNews.com lowered Rexford Industrial Realty from a “hold” rating to a “sell” rating in a research note on Thursday, July 21st. Finally, Jefferies Financial Group lowered their price target on Rexford Industrial Realty from $89.00 to $73.00 in a research note on Thursday, June 30th. One analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $76.60.

About Rexford Industrial Realty

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Rexford Industrial, a real estate investment trust focused on owning and operating industrial properties throughout Southern California infill markets, owns 232 properties with approximately 27.9 million rentable square feet and manages an additional 20 properties with approximately 1.0 million rentable square feet.

Further Reading

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Institutional Ownership by Quarter for Rexford Industrial Realty (NYSE:REXR)

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