Vanguard Personalized Indexing Management LLC Lowers Stake in Rexford Industrial Realty, Inc. (NYSE:REXR)

Vanguard Personalized Indexing Management LLC trimmed its stake in Rexford Industrial Realty, Inc. (NYSE:REXR) by 50.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 9,125 shares of the real estate investment trust’s stock after selling 9,198 shares during the period. Vanguard Personalized Indexing Management LLC’s holdings in Rexford Industrial Realty were worth $512,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Principal Financial Group Inc. lifted its position in shares of Rexford Industrial Realty by 1.3% during the fourth quarter. Principal Financial Group Inc. now owns 13,760,865 shares of the real estate investment trust’s stock valued at $771,985,000 after buying an additional 181,552 shares during the last quarter. Invesco Ltd. boosted its stake in Rexford Industrial Realty by 1.9% in the third quarter. Invesco Ltd. now owns 6,484,017 shares of the real estate investment trust’s stock valued at $319,986,000 after acquiring an additional 120,596 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in Rexford Industrial Realty by 2.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,077,816 shares of the real estate investment trust’s stock worth $172,670,000 after purchasing an additional 73,701 shares during the last quarter. Boston Partners increased its position in shares of Rexford Industrial Realty by 63.3% during the fourth quarter. Boston Partners now owns 2,772,565 shares of the real estate investment trust’s stock worth $155,536,000 after purchasing an additional 1,075,005 shares in the last quarter. Finally, Schroder Investment Management Group lifted its holdings in shares of Rexford Industrial Realty by 0.5% during the 3rd quarter. Schroder Investment Management Group now owns 2,582,529 shares of the real estate investment trust’s stock valued at $127,448,000 after purchasing an additional 12,327 shares during the last quarter. 99.52% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

REXR has been the subject of several recent analyst reports. Wedbush began coverage on Rexford Industrial Realty in a report on Monday, April 22nd. They issued a “neutral” rating and a $45.00 price target for the company. Robert W. Baird cut their price target on shares of Rexford Industrial Realty from $57.00 to $49.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 1st. Truist Financial dropped their price objective on shares of Rexford Industrial Realty from $53.00 to $50.00 and set a “buy” rating on the stock in a report on Thursday, May 2nd. Scotiabank reduced their target price on Rexford Industrial Realty from $55.00 to $51.00 and set a “sector outperform” rating for the company in a research note on Thursday, May 16th. Finally, JPMorgan Chase & Co. lowered Rexford Industrial Realty from an “overweight” rating to a “neutral” rating and set a $55.00 price objective on the stock. in a report on Wednesday, February 7th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $53.00.

Rexford Industrial Realty Stock Performance

NYSE:REXR opened at $43.68 on Friday. The firm has a market cap of $9.51 billion, a price-to-earnings ratio of 40.07, a price-to-earnings-growth ratio of 1.77 and a beta of 0.89. The firm’s fifty day moving average price is $46.50 and its 200 day moving average price is $50.34. Rexford Industrial Realty, Inc. has a 1-year low of $41.56 and a 1-year high of $58.02. The company has a debt-to-equity ratio of 0.41, a current ratio of 3.21 and a quick ratio of 3.21.

Rexford Industrial Realty (NYSE:REXR) last announced its quarterly earnings results on Thursday, April 18th. The real estate investment trust reported $0.27 EPS for the quarter, missing the consensus estimate of $0.57 by ($0.30). Rexford Industrial Realty had a return on equity of 3.04% and a net margin of 28.84%. The firm had revenue of $214.10 million for the quarter, compared to analysts’ expectations of $207.39 million. During the same period last year, the firm earned $0.52 EPS. Rexford Industrial Realty’s revenue was up 15.0% compared to the same quarter last year. On average, sell-side analysts expect that Rexford Industrial Realty, Inc. will post 2.34 EPS for the current year.

Rexford Industrial Realty Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Friday, June 28th will be given a $0.417 dividend. This represents a $1.67 dividend on an annualized basis and a dividend yield of 3.82%. The ex-dividend date of this dividend is Friday, June 28th. Rexford Industrial Realty’s dividend payout ratio is presently 153.21%.

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.