Principal Financial Group Inc. Sells 424,576 Shares of Rexford Industrial Realty, Inc. (NYSE:REXR)

Principal Financial Group Inc. reduced its position in Rexford Industrial Realty, Inc. (NYSE:REXR - Free Report) by 4.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 10,287,184 shares of the real estate investment trust's stock after selling 424,576 shares during the quarter. Principal Financial Group Inc. owned about 4.63% of Rexford Industrial Realty worth $397,707,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. UMB Bank n.a. boosted its position in shares of Rexford Industrial Realty by 38.9% in the fourth quarter. UMB Bank n.a. now owns 999 shares of the real estate investment trust's stock valued at $39,000 after acquiring an additional 280 shares during the period. Archer Investment Corp boosted its position in shares of Rexford Industrial Realty by 61.5% in the third quarter. Archer Investment Corp now owns 2,100 shares of the real estate investment trust's stock valued at $106,000 after acquiring an additional 800 shares during the period. Catalyst Capital Advisors LLC bought a new position in shares of Rexford Industrial Realty in the third quarter valued at approximately $129,000. International Assets Investment Management LLC boosted its position in shares of Rexford Industrial Realty by 4,835.8% in the third quarter. International Assets Investment Management LLC now owns 2,616 shares of the real estate investment trust's stock valued at $132,000 after acquiring an additional 2,563 shares during the period. Finally, Signaturefd LLC boosted its position in shares of Rexford Industrial Realty by 22.2% in the third quarter. Signaturefd LLC now owns 2,637 shares of the real estate investment trust's stock valued at $133,000 after acquiring an additional 479 shares during the period. 99.52% of the stock is currently owned by institutional investors.

Rexford Industrial Realty Price Performance

Shares of REXR stock traded up $0.01 during trading hours on Wednesday, hitting $41.00. 842,920 shares of the company's stock were exchanged, compared to its average volume of 2,085,500. The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 0.39. Rexford Industrial Realty, Inc. has a 12-month low of $36.92 and a 12-month high of $53.88. The business's 50 day simple moving average is $39.58 and its 200-day simple moving average is $44.41. The company has a market capitalization of $9.35 billion, a PE ratio of 33.88, a PEG ratio of 2.60 and a beta of 0.95.

Rexford Industrial Realty (NYSE:REXR - Get Free Report) last issued its earnings results on Wednesday, February 5th. The real estate investment trust reported $0.58 EPS for the quarter, topping the consensus estimate of $0.27 by $0.31. Rexford Industrial Realty had a net margin of 29.10% and a return on equity of 3.26%. On average, equities research analysts anticipate that Rexford Industrial Realty, Inc. will post 2.38 earnings per share for the current year.

Rexford Industrial Realty Increases Dividend

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

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on REXR shares. Mizuho lowered their target price on shares of Rexford Industrial Realty from $46.00 to $45.00 and set a "neutral" rating on the stock in a research note on Wednesday, January 8th. Deutsche Bank Aktiengesellschaft started coverage on shares of 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. lowered their target price on shares of Rexford Industrial Realty from $45.00 to $44.00 and set a "neutral" rating on the stock in a research note on Thursday, February 13th. Barclays lowered their target price on shares of Rexford Industrial Realty from $44.00 to $41.00 and set an "underweight" rating on the stock in a research note on Monday, January 13th. Finally, Truist Financial lowered their target price on shares of Rexford Industrial Realty from $54.00 to $50.00 and set a "buy" rating on the stock in a research note on Tuesday, November 12th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus 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.