Rexford Industrial Realty, Inc. (NYSE:REXR) Shares Sold by Truist Financial Corp

Truist Financial Corp decreased its holdings in Rexford Industrial Realty, Inc. (NYSE:REXR) by 4.6% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 5,894 shares of the real estate investment trust’s stock after selling 286 shares during the quarter. Truist Financial Corp’s holdings in Rexford Industrial Realty were worth $263,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of REXR. Capital International Investors boosted its holdings in shares of Rexford Industrial Realty by 687.7% in the first quarter. Capital International Investors now owns 19,590,676 shares of the real estate investment trust’s stock worth $985,411,000 after buying an additional 17,103,653 shares during the period. Price T Rowe Associates Inc. MD grew its position in Rexford Industrial Realty by 26.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 19,933,431 shares of the real estate investment trust’s stock worth $1,002,654,000 after purchasing an additional 4,197,907 shares in the last quarter. Canada Pension Plan Investment Board raised its stake in Rexford Industrial Realty by 262.7% during the 1st quarter. Canada Pension Plan Investment Board now owns 2,237,288 shares of the real estate investment trust’s stock valued at $112,536,000 after purchasing an additional 1,620,378 shares during the period. Massachusetts Financial Services Co. MA lifted its holdings in shares of Rexford Industrial Realty by 38.0% in the second quarter. Massachusetts Financial Services Co. MA now owns 2,907,560 shares of the real estate investment trust’s stock valued at $129,648,000 after purchasing an additional 800,137 shares in the last quarter. Finally, Vanguard Group Inc. boosted its position in shares of Rexford Industrial Realty by 2.6% in the first quarter. Vanguard Group Inc. now owns 29,734,952 shares of the real estate investment trust’s stock worth $1,495,668,000 after buying an additional 753,098 shares during the period. Institutional investors own 99.52% of the company’s stock.

Insider Activity

In other Rexford Industrial Realty news, CEO Howard Schwimmer sold 30,358 shares of the firm’s stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $48.86, for a total transaction of $1,483,291.88. Following the completion of the sale, the chief executive officer now directly owns 50,673 shares in the company, valued at $2,475,882.78. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Rexford Industrial Realty news, CFO Laura E. Clark sold 14,185 shares of Rexford Industrial Realty stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $50.15, for a total value of $711,377.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Howard Schwimmer sold 30,358 shares of the company’s stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $48.86, for a total transaction of $1,483,291.88. Following the sale, the chief executive officer now directly owns 50,673 shares of the company’s stock, valued at $2,475,882.78. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.20% of the company’s stock.

Rexford Industrial Realty Stock Up 2.5 %

REXR stock opened at $46.04 on Friday. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.73 and a quick ratio of 1.73. The stock has a market capitalization of $10.11 billion, a P/E ratio of 38.37, a P/E/G ratio of 1.94 and a beta of 0.93. Rexford Industrial Realty, Inc. has a fifty-two week low of $41.56 and a fifty-two week high of $58.02. The business has a 50-day moving average of $49.90 and a 200-day moving average of $47.34.

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 (EPS) for the quarter, missing the consensus estimate of $0.58 by ($0.28). Rexford Industrial Realty had a return on equity of 3.31% and a net margin of 30.71%. 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 EPS. The business’s revenue was up 17.7% on a year-over-year basis. On average, sell-side analysts anticipate that Rexford Industrial Realty, Inc. will post 2.34 earnings per share for the current fiscal year.

Rexford Industrial Realty Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be given a $0.4175 dividend. This represents a $1.67 annualized dividend and a dividend yield of 3.63%. The ex-dividend date of this dividend is Tuesday, December 31st. Rexford Industrial Realty’s payout ratio is presently 139.17%.

Wall Street Analyst Weigh In

Several research analysts have weighed in on REXR shares. 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 note on Wednesday, August 28th. Scotiabank upped their price target on shares of Rexford Industrial Realty from $51.00 to $55.00 and gave the stock a “sector outperform” rating in a research note on Monday, August 26th. Industrial Alliance Securities set a $55.00 price objective on Rexford Industrial Realty in a research report on Friday. StockNews.com raised Rexford Industrial Realty from a “sell” rating to a “hold” rating in a research report on Monday, July 22nd. Finally, JPMorgan Chase & Co. lifted their price target on Rexford Industrial Realty from $47.00 to $52.00 and gave the company a “neutral” rating in a report on Thursday, July 25th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the stock. According to MarketBeat, Rexford Industrial Realty presently has a consensus rating of “Hold” and a consensus price target of $52.73.

About Rexford Industrial Realty

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.