M&G Plc Grows Holdings in Rexford Industrial Realty, Inc. (NYSE:REXR)

M&G PLC grew its holdings in Rexford Industrial Realty, Inc. (NYSE:REXR - Free Report) by 24.0% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 935,892 shares of the real estate investment trust's stock after purchasing an additional 180,940 shares during the quarter. M&G PLC owned about 0.43% of Rexford Industrial Realty worth $46,795,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in REXR. Capital International Investors boosted its position in shares of Rexford Industrial Realty by 687.7% during 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 purchasing an additional 17,103,653 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of 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 acquiring an additional 4,197,907 shares during the period. Canada Pension Plan Investment Board increased its position 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 worth $112,536,000 after purchasing an additional 1,620,378 shares in the last quarter. Massachusetts Financial Services Co. MA increased its position in Rexford Industrial Realty by 38.0% in the 2nd 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 acquiring an additional 800,137 shares during the period. Finally, Vanguard Group Inc. boosted its stake in Rexford Industrial Realty by 2.6% during 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 acquiring an additional 753,098 shares in the last quarter. 99.52% of the stock is currently owned by institutional investors.

Rexford Industrial Realty Trading Down 0.3 %

REXR traded down $0.11 during trading on Thursday, reaching $42.59. 1,403,128 shares of the stock traded hands, compared to its average volume of 1,725,823. The stock has a market capitalization of $9.47 billion, a PE ratio of 34.72, a P/E/G ratio of 2.06 and a beta of 0.94. The stock's 50-day moving average is $48.07 and its 200 day moving average is $47.09. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 0.40. Rexford Industrial Realty, Inc. has a 12 month low of $41.89 and a 12 month high of $58.02.

Rexford Industrial Realty (NYSE:REXR - Get Free Report) last released its quarterly earnings data 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). The business had revenue of $241.84 million during the quarter, compared to analysts' expectations of $235.81 million. Rexford Industrial Realty had a net margin of 30.40% and a return on equity of 3.35%. The firm's quarterly revenue was up 17.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.56 earnings per share. Equities analysts anticipate that Rexford Industrial Realty, Inc. will post 2.34 earnings per share for the current year.

Rexford Industrial Realty Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be given a dividend of $0.4175 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $1.67 dividend on an annualized basis and a yield of 3.92%. Rexford Industrial Realty's dividend payout ratio (DPR) is 135.77%.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on REXR shares. StockNews.com lowered shares of Rexford Industrial Realty from a "hold" rating to a "sell" rating in a research report on Monday, October 21st. Evercore ISI reissued an "outperform" rating on shares of Rexford Industrial Realty in a report on Friday, October 18th. JPMorgan Chase & Co. boosted their target price on shares of Rexford Industrial Realty from $47.00 to $52.00 and gave the stock a "neutral" rating in a report on Thursday, July 25th. Industrial Alliance Securities set a $55.00 target price on Rexford Industrial Realty in a research note on Friday, October 18th. Finally, Wells Fargo & Company lowered their price target on Rexford Industrial Realty from $66.00 to $61.00 and set an "overweight" rating for the company in a report on Wednesday, August 28th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $51.45.

Insiders Place Their Bets

In other 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 value of $711,377.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 1.20% of the company's stock.

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.