Wellington Management Group LLP Raises Stock Holdings in Rexford Industrial Realty, Inc. (NYSE:REXR)

Wellington Management Group LLP grew its holdings in Rexford Industrial Realty, Inc. (NYSE:REXR - Free Report) by 1.9% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,265,637 shares of the real estate investment trust's stock after purchasing an additional 42,450 shares during the quarter. Wellington Management Group LLP owned approximately 1.02% of Rexford Industrial Realty worth $113,984,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Rexford Industrial Realty by 338.0% during 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 worth $97,134,000 after purchasing an additional 1,489,876 shares in the last quarter. Canada Pension Plan Investment Board increased its holdings in shares of Rexford Industrial Realty by 41.9% during the second quarter. Canada Pension Plan Investment Board now owns 3,175,465 shares of the real estate investment trust's stock valued at $141,594,000 after acquiring an additional 938,177 shares in the last quarter. Massachusetts Financial Services Co. MA raised its position in shares of 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 purchasing an additional 800,137 shares during the last quarter. Daiwa Securities Group Inc. grew its position in Rexford Industrial Realty by 52.5% during the 2nd quarter. Daiwa Securities Group Inc. now owns 1,210,795 shares of the real estate investment trust's stock worth $53,990,000 after purchasing an additional 417,037 shares during the last quarter. Finally, PGGM Investments increased its stake in Rexford Industrial Realty by 16.5% during the 2nd quarter. PGGM Investments now owns 2,833,520 shares of the real estate investment trust's stock valued at $126,347,000 after purchasing an additional 401,593 shares in the last quarter. 99.52% of the stock is currently owned by institutional investors.

Rexford Industrial Realty Price Performance

Shares of REXR traded down $0.52 during mid-day trading on Tuesday, hitting $41.20. 2,153,897 shares of the company were exchanged, compared to its average volume of 1,745,012. The stock has a market cap of $9.16 billion, a price-to-earnings ratio of 33.91, a price-to-earnings-growth ratio of 1.90 and a beta of 0.93. Rexford Industrial Realty, Inc. has a 1-year low of $39.85 and a 1-year high of $58.02. The company has a 50 day moving average of $44.09 and a 200-day moving average of $46.73. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.20 and a current ratio of 1.20.

Rexford Industrial Realty (NYSE:REXR - Get Free Report) last issued 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 firm had revenue of $241.84 million during the quarter, compared to analyst estimates of $235.81 million. Rexford Industrial Realty had a return on equity of 3.35% and a net margin of 30.40%. The business's revenue was up 17.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.56 earnings per share. Analysts expect that Rexford Industrial Realty, Inc. will post 2.34 EPS for the current fiscal year.

Rexford Industrial Realty Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be issued a dividend of $0.4175 per share. This represents a $1.67 annualized dividend and a dividend yield of 4.05%. The ex-dividend date is Tuesday, December 31st. Rexford Industrial Realty's dividend payout ratio is currently 135.77%.

Analysts Set New Price Targets

REXR has been the topic of several research reports. Mizuho cut their target price on Rexford Industrial Realty from $50.00 to $49.00 and set a "neutral" rating on the stock in a research report on Thursday, September 5th. Scotiabank lowered Rexford Industrial Realty from a "sector outperform" rating to a "sector perform" rating and dropped their target price for the company from $55.00 to $48.00 in a research report on Friday, October 25th. Truist Financial dropped their price objective on shares of Rexford Industrial Realty from $54.00 to $50.00 and set a "buy" rating on the stock in a report on Tuesday, November 12th. Industrial Alliance Securities set a $55.00 target price on shares of Rexford Industrial Realty in a research report on Friday, October 18th. Finally, Bank of America downgraded Rexford Industrial Realty from a "buy" rating to a "neutral" rating and lowered their target price for the stock from $66.00 to $49.00 in a research note on Monday, October 21st. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $51.09.

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.