Baillie Gifford & Co. Sells 209,087 Shares of Rexford Industrial Realty, Inc. (NYSE:REXR)

Baillie Gifford & Co. lowered its stake in shares of Rexford Industrial Realty, Inc. (NYSE:REXR) by 46.0% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 245,676 shares of the real estate investment trust’s stock after selling 209,087 shares during the period. Baillie Gifford & Co. owned 0.11% of Rexford Industrial Realty worth $12,360,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the stock. Massmutual Trust Co. FSB ADV raised its position in Rexford Industrial Realty by 169.4% during the second quarter. Massmutual Trust Co. FSB ADV now owns 555 shares of the real estate investment trust’s stock worth $25,000 after acquiring an additional 349 shares in the last quarter. V Square Quantitative Management LLC acquired a new stake in Rexford Industrial Realty in the 2nd quarter valued at about $26,000. UMB Bank n.a. grew its holdings in Rexford Industrial Realty by 164.3% during the third quarter. UMB Bank n.a. now owns 719 shares of the real estate investment trust’s stock worth $36,000 after purchasing an additional 447 shares during the period. Headlands Technologies LLC acquired a new position in Rexford Industrial Realty during the second quarter worth approximately $41,000. Finally, EverSource Wealth Advisors LLC lifted its position in shares of Rexford Industrial Realty by 1,252.2% in the first quarter. EverSource Wealth Advisors LLC now owns 933 shares of the real estate investment trust’s stock valued at $47,000 after buying an additional 864 shares during the last quarter. Institutional investors and hedge funds own 99.52% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. Bank of America lowered Rexford Industrial Realty from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $66.00 to $49.00 in a report on Monday, October 21st. Wells Fargo & Company dropped their price objective on shares of Rexford Industrial Realty from $66.00 to $61.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 28th. Evercore ISI reaffirmed an “outperform” rating on shares of Rexford Industrial Realty in a report on Friday, October 18th. Mizuho decreased their price target on shares of Rexford Industrial Realty from $50.00 to $49.00 and set a “neutral” rating on the stock in a research note on Thursday, September 5th. Finally, Scotiabank downgraded shares of Rexford Industrial Realty from a “sector outperform” rating to a “sector perform” rating and cut their price objective for the stock from $55.00 to $48.00 in a research report on Friday, October 25th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the company. According to MarketBeat, Rexford Industrial Realty has a consensus rating of “Hold” and an average price target of $51.09.

Rexford Industrial Realty Stock Down 3.2 %

NYSE REXR opened at $41.39 on Wednesday. The company has a market cap of $9.20 billion, a price-to-earnings ratio of 33.65, a PEG ratio of 2.04 and a beta of 0.94. Rexford Industrial Realty, Inc. has a 1-year low of $41.36 and a 1-year high of $58.02. The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 0.40. The company has a 50 day moving average of $47.41 and a 200-day moving average of $47.10.

Rexford Industrial Realty (NYSE:REXR) last released its earnings results on Wednesday, October 16th. The real estate investment trust reported $0.30 earnings per share for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.28). Rexford Industrial Realty had a net margin of 30.40% and a return on equity of 3.35%. The company had revenue of $241.84 million for the quarter, compared to the consensus estimate of $235.81 million. During the same quarter in the previous year, the company posted $0.56 earnings per share. The business’s revenue was up 17.7% compared to the same quarter last year. On average, equities research analysts expect that Rexford Industrial Realty, Inc. will post 2.34 earnings per share for the current fiscal year.

Rexford Industrial Realty Announces Dividend

The company also recently announced 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. This represents a $1.67 annualized dividend and a yield of 4.03%. The ex-dividend date of this dividend is Tuesday, December 31st. Rexford Industrial Realty’s dividend payout ratio is currently 135.77%.

Insider Activity

In related news, CFO Laura E. Clark sold 14,185 shares of the stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $50.15, for a total transaction of $711,377.75. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 1.20% of the company’s stock.

Rexford Industrial Realty 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.