Baillie Gifford & Co. Reduces Stock Holdings in Rexford Industrial Realty, Inc. (NYSE:REXR)

Baillie Gifford & Co. lowered its holdings in shares of Rexford Industrial Realty, Inc. (NYSE:REXR - Free Report) by 46.0% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 245,676 shares of the real estate investment trust's stock after selling 209,087 shares during the period. Baillie Gifford & Co. owned about 0.11% of Rexford Industrial Realty worth $12,360,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. OVERSEA CHINESE BANKING Corp Ltd acquired a new stake in Rexford Industrial Realty during the 3rd quarter valued at approximately $3,034,000. Versor Investments LP increased its position in shares of Rexford Industrial Realty by 111.4% during the third quarter. Versor Investments LP now owns 14,800 shares of the real estate investment trust's stock worth $745,000 after buying an additional 7,800 shares during the period. Assetmark Inc. increased its position in shares of Rexford Industrial Realty by 19.8% during the third quarter. Assetmark Inc. now owns 5,669 shares of the real estate investment trust's stock worth $285,000 after buying an additional 938 shares during the period. AEGON ASSET MANAGEMENT UK Plc raised its stake in Rexford Industrial Realty by 34.7% during the third quarter. AEGON ASSET MANAGEMENT UK Plc now owns 32,596 shares of the real estate investment trust's stock worth $1,640,000 after buying an additional 8,398 shares during the last quarter. Finally, M&G PLC lifted its holdings in Rexford Industrial Realty by 24.0% in the third quarter. M&G PLC now owns 935,892 shares of the real estate investment trust's stock valued at $46,795,000 after buying an additional 180,940 shares during the period. Institutional investors and hedge funds own 99.52% of the company's stock.

Analyst Ratings Changes

REXR has been the subject of a number of recent analyst reports. Evercore ISI reiterated an "outperform" rating on shares of Rexford Industrial Realty in a report on Friday, October 18th. Truist Financial lowered their target price on Rexford Industrial Realty from $54.00 to $50.00 and set a "buy" rating for the company in a report on Tuesday. Industrial Alliance Securities set a $55.00 price target on Rexford Industrial Realty in a report on Friday, October 18th. StockNews.com lowered shares of Rexford Industrial Realty from a "hold" rating to a "sell" rating in a research note on Monday, October 21st. Finally, Mizuho cut their target price 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. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $51.09.

Insider Activity at Rexford Industrial Realty

In related news, CFO Laura E. Clark sold 14,185 shares of the business's stock in a transaction dated 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 legal filing with the SEC, which can be accessed through the SEC website. 1.20% of the stock is currently owned by insiders.

Rexford Industrial Realty Stock Up 1.0 %

Shares of Rexford Industrial Realty stock traded up $0.42 during trading hours on Wednesday, reaching $41.83. The company's stock had a trading volume of 2,150,141 shares, compared to its average volume of 1,727,759. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.20 and a current ratio of 1.20. The stock's fifty day simple moving average is $47.24 and its two-hundred day simple moving average is $47.07. The company has a market capitalization of $9.30 billion, a P/E ratio of 34.01, a P/E/G ratio of 1.98 and a beta of 0.94. Rexford Industrial Realty, Inc. has a one year low of $41.36 and a one year high of $58.02.

Rexford Industrial Realty (NYSE:REXR - Get Free Report) last released its quarterly earnings results on Wednesday, October 16th. The real estate investment trust reported $0.30 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.58 by ($0.28). The company had revenue of $241.84 million for the quarter, compared to analyst estimates of $235.81 million. Rexford Industrial Realty had a net margin of 30.40% and a return on equity of 3.35%. Rexford Industrial Realty's revenue for the quarter was up 17.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.56 EPS. On average, research analysts forecast that Rexford Industrial Realty, Inc. will post 2.34 earnings per share for the current year.

Rexford Industrial Realty Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be given a $0.4175 dividend. This represents a $1.67 dividend on an annualized basis and a yield of 3.99%. The ex-dividend date is Tuesday, December 31st. Rexford Industrial Realty's payout ratio is currently 135.77%.

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.