Allspring Global Investments Holdings LLC Sells 394,725 Shares of Rexford Industrial Realty, Inc. (NYSE:REXR)

Allspring Global Investments Holdings LLC lessened its holdings in shares of Rexford Industrial Realty, Inc. (NYSE:REXR) by 32.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 839,550 shares of the real estate investment trust’s stock after selling 394,725 shares during the quarter. Allspring Global Investments Holdings LLC owned about 0.38% of Rexford Industrial Realty worth $32,257,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. UMB Bank n.a. grew its holdings in Rexford Industrial Realty by 38.9% during the 4th quarter. UMB Bank n.a. now owns 999 shares of the real estate investment trust’s stock valued at $39,000 after buying an additional 280 shares in the last quarter. Archer Investment Corp grew its holdings in Rexford Industrial Realty by 61.5% during the 3rd quarter. Archer Investment Corp now owns 2,100 shares of the real estate investment trust’s stock valued at $106,000 after buying an additional 800 shares in the last quarter. Exchange Traded Concepts LLC grew its holdings in Rexford Industrial Realty by 13.2% during the 4th quarter. Exchange Traded Concepts LLC now owns 3,172 shares of the real estate investment trust’s stock valued at $123,000 after buying an additional 371 shares in the last quarter. Catalyst Capital Advisors LLC purchased a new position in Rexford Industrial Realty during the 3rd quarter valued at approximately $129,000. Finally, International Assets Investment Management LLC grew its holdings in Rexford Industrial Realty by 4,835.8% during the 3rd quarter. International Assets Investment Management LLC now owns 2,616 shares of the real estate investment trust’s stock valued at $132,000 after buying an additional 2,563 shares in the last quarter. Institutional investors own 99.52% of the company’s stock.

Rexford Industrial Realty Price Performance

REXR opened at $40.39 on Friday. The business has a fifty day moving average of $39.61 and a 200 day moving average of $44.55. Rexford Industrial Realty, Inc. has a 52-week low of $36.92 and a 52-week high of $53.88. The company has a quick ratio of 1.20, a current ratio of 1.30 and a debt-to-equity ratio of 0.39. The stock has a market cap of $9.21 billion, a P/E ratio of 33.38, a PEG ratio of 2.28 and a beta of 0.95.

Rexford Industrial Realty (NYSE:REXR) last posted its quarterly earnings data on Wednesday, February 5th. The real estate investment trust reported $0.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.27 by $0.31. Rexford Industrial Realty had a return on equity of 3.26% and a net margin of 29.10%. As a group, sell-side analysts anticipate that Rexford Industrial Realty, Inc. will post 2.39 EPS for the current year.

Rexford Industrial Realty Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be given a dividend of $0.43 per share. The ex-dividend date is Monday, March 31st. This is a positive change from Rexford Industrial Realty’s previous quarterly dividend of $0.42. This represents a $1.72 dividend on an annualized basis and a yield of 4.26%. Rexford Industrial Realty’s payout ratio is 142.15%.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on REXR shares. Truist Financial cut their price target on Rexford Industrial Realty from $54.00 to $50.00 and set a “buy” rating for the company in a report on Tuesday, November 12th. Scotiabank cut Rexford Industrial Realty from a “sector outperform” rating to a “sector perform” rating and dropped their target price for the stock from $55.00 to $48.00 in a report on Friday, October 25th. Barclays dropped their target price on Rexford Industrial Realty from $44.00 to $41.00 and set an “underweight” rating for the company in a report on Monday, January 13th. Industrial Alliance Securities set a $55.00 target price on Rexford Industrial Realty in a report on Friday, October 18th. Finally, JPMorgan Chase & Co. dropped their target price on Rexford Industrial Realty from $45.00 to $44.00 and set a “neutral” rating for the company in a report on Thursday. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Rexford Industrial Realty currently has an average rating of “Hold” and a consensus price target of $48.75.

About Rexford Industrial Realty

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.