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

Allspring Global Investments Holdings LLC decreased its holdings in shares of Rexford Industrial Realty, Inc. (NYSE:REXR - Free Report) by 32.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor 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 0.38% of Rexford Industrial Realty worth $32,257,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Rexford Industrial Realty by 338.0% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,930,706 shares of the real estate investment trust's stock valued at $97,134,000 after purchasing an additional 1,489,876 shares in the last quarter. JPMorgan Chase & Co. grew its stake in Rexford Industrial Realty by 26.9% in the third quarter. JPMorgan Chase & Co. now owns 4,503,571 shares of the real estate investment trust's stock valued at $226,575,000 after purchasing an additional 954,202 shares in the last quarter. Massachusetts Financial Services Co. MA grew its stake in Rexford Industrial Realty by 14.8% in the third quarter. Massachusetts Financial Services Co. MA now owns 3,339,219 shares of the real estate investment trust's stock valued at $167,996,000 after purchasing an additional 431,659 shares in the last quarter. Brookfield Corp ON purchased a new position in Rexford Industrial Realty in the third quarter valued at about $13,838,000. Finally, Daiwa Securities Group Inc. grew its stake in Rexford Industrial Realty by 19.6% in the third quarter. Daiwa Securities Group Inc. now owns 1,448,419 shares of the real estate investment trust's stock valued at $72,870,000 after purchasing an additional 237,624 shares in the last quarter. Hedge funds and other institutional investors own 99.52% of the company's stock.

Rexford Industrial Realty Stock Performance

Shares of NYSE REXR traded up $0.62 during trading hours on Tuesday, hitting $40.96. 605,936 shares of the company's stock were exchanged, compared to its average volume of 2,102,054. Rexford Industrial Realty, Inc. has a 1-year low of $36.92 and a 1-year high of $53.88. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.30 and a quick ratio of 1.20. The stock has a market capitalization of $9.11 billion, a price-to-earnings ratio of 33.85, a PEG ratio of 2.28 and a beta of 0.95. The company's 50-day moving average price is $39.58 and its 200-day moving average price is $44.41.

Rexford Industrial Realty (NYSE:REXR - Get Free Report) last issued its quarterly earnings results on Wednesday, February 5th. The real estate investment trust reported $0.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.27 by $0.31. Rexford Industrial Realty had a return on equity of 3.26% and a net margin of 29.10%. On average, sell-side analysts expect that Rexford Industrial Realty, Inc. will post 2.39 earnings per share for the current fiscal year.

Rexford Industrial Realty Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be paid a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a yield of 4.20%. This is a positive change from Rexford Industrial Realty's previous quarterly dividend of $0.42. The ex-dividend date of this dividend is Monday, March 31st. Rexford Industrial Realty's payout ratio is currently 138.02%.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. Deutsche Bank Aktiengesellschaft assumed coverage on Rexford Industrial Realty in a research note on Tuesday, January 14th. They issued a "hold" rating and a $40.00 target price on the stock. JPMorgan Chase & Co. reduced their price target on Rexford Industrial Realty from $45.00 to $44.00 and set a "neutral" rating for the company in a research report on Thursday, February 13th. Truist Financial reduced their price target on Rexford Industrial Realty from $54.00 to $50.00 and set a "buy" rating for the company in a research report on Tuesday, November 12th. Bank of America cut Rexford Industrial Realty from a "buy" rating to a "neutral" rating and reduced their price target for the stock from $66.00 to $49.00 in a research report on Monday, October 21st. Finally, Barclays reduced their price target on Rexford Industrial Realty from $44.00 to $41.00 and set an "underweight" rating for the company in a research report on Monday, January 13th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the company. According to MarketBeat, the company has an average rating of "Hold" and a consensus price target of $48.75.

Rexford Industrial Realty Profile

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.