Allspring Global Investments Holdings LLC Sells 117,711 Shares of Rexford Industrial Realty, Inc. (NYSE:REXR)

Allspring Global Investments Holdings LLC decreased its position in shares of Rexford Industrial Realty, Inc. (NYSE:REXR - Free Report) by 8.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,234,275 shares of the real estate investment trust's stock after selling 117,711 shares during the period. Allspring Global Investments Holdings LLC owned approximately 0.56% of Rexford Industrial Realty worth $62,096,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of REXR. Los Angeles Capital Management LLC increased its position in Rexford Industrial Realty by 2.3% during the 1st quarter. Los Angeles Capital Management LLC now owns 9,165 shares of the real estate investment trust's stock valued at $461,000 after buying an additional 210 shares in the last quarter. Fulton Bank N.A. raised its position in shares of Rexford Industrial Realty by 4.7% in the third quarter. Fulton Bank N.A. now owns 5,038 shares of the real estate investment trust's stock valued at $253,000 after buying an additional 224 shares during the last quarter. Inspire Investing LLC boosted its stake in Rexford Industrial Realty by 4.9% during the first quarter. Inspire Investing LLC now owns 7,126 shares of the real estate investment trust's stock worth $358,000 after buying an additional 331 shares during the last quarter. Hennion & Walsh Asset Management Inc. increased its holdings in shares of Rexford Industrial Realty by 2.4% during the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 14,641 shares of the real estate investment trust's stock worth $653,000 after buying an additional 337 shares during the last quarter. Finally, Victory Capital Management Inc. lifted its position in Rexford Industrial Realty by 0.8% in the second quarter. Victory Capital Management Inc. now owns 46,066 shares of the real estate investment trust's stock valued at $2,054,000 after buying an additional 345 shares during the last quarter. 99.52% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, CEO Howard Schwimmer sold 30,358 shares of Rexford Industrial Realty stock in a transaction 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 transaction, the chief executive officer now owns 50,673 shares in the company, valued at approximately $2,475,882.78. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Rexford Industrial Realty news, CEO Howard Schwimmer sold 30,358 shares of the business's stock in a transaction that occurred on 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 completion of the sale, the chief executive officer now directly owns 50,673 shares of the company's stock, valued at approximately $2,475,882.78. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Laura E. Clark sold 14,185 shares of the 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 disclosure for this sale can be found here. 1.20% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts have issued reports on REXR shares. JPMorgan Chase & Co. increased their price target on Rexford Industrial Realty from $47.00 to $52.00 and gave the company a "neutral" rating in a research report on Thursday, July 25th. Truist Financial raised their price target on Rexford Industrial Realty from $50.00 to $54.00 and gave the stock a "buy" rating in a report on Tuesday, July 30th. Bank of America cut shares of Rexford Industrial Realty from a "buy" rating to a "neutral" rating and reduced their target price for the stock from $66.00 to $49.00 in a research note on Monday. Scotiabank raised their price objective on shares of Rexford Industrial Realty from $51.00 to $55.00 and gave the company a "sector outperform" rating in a research note on Monday, August 26th. Finally, Evercore ISI reissued an "outperform" rating on shares of Rexford Industrial Realty in a report on Friday. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $52.09.

Rexford Industrial Realty Price Performance

Shares of Rexford Industrial Realty stock traded down $0.04 during mid-day trading on Tuesday, reaching $44.65. 3,606,790 shares of the stock were exchanged, compared to its average volume of 1,720,308. The company has a market cap of $9.80 billion, a price-to-earnings ratio of 36.35, a price-to-earnings-growth ratio of 1.89 and a beta of 0.93. The company has a current ratio of 1.20, a quick ratio of 1.73 and a debt-to-equity ratio of 0.40. Rexford Industrial Realty, Inc. has a fifty-two week low of $41.56 and a fifty-two week high of $58.02. The firm has a 50-day simple moving average of $49.81 and a 200 day simple moving average of $47.30.

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 EPS for the quarter, missing analysts' consensus estimates of $0.58 by ($0.28). The company had revenue of $241.84 million during the quarter, compared to the consensus estimate of $235.81 million. Rexford Industrial Realty had a net margin of 30.40% and a return on equity of 3.35%. The company's revenue for the quarter was up 17.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.56 EPS. On average, sell-side analysts predict that Rexford Industrial Realty, Inc. will post 2.35 EPS for the current fiscal year.

Rexford Industrial Realty Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be paid a $0.4175 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $1.67 annualized dividend and a dividend yield of 3.74%. Rexford Industrial Realty's dividend payout ratio (DPR) is presently 135.77%.

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.