Baillie Gifford & Co. Has $12.36 Million Stock Holdings in Rexford Industrial Realty, Inc. (NYSE:REXR)

Baillie Gifford & Co. lowered its stake in Rexford Industrial Realty, Inc. (NYSE:REXR) by 46.0% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 245,676 shares of the real estate investment trust’s stock after selling 209,087 shares during the period. Baillie Gifford & Co.’s holdings in Rexford Industrial Realty were worth $12,360,000 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. Capital International Investors boosted its position in Rexford Industrial Realty by 687.7% during the 1st quarter. Capital International Investors now owns 19,590,676 shares of the real estate investment trust’s stock worth $985,411,000 after buying an additional 17,103,653 shares during the period. Price T Rowe Associates Inc. MD grew its stake in shares of Rexford Industrial Realty by 26.7% in the first 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 purchasing an additional 4,197,907 shares during the last quarter. Canada Pension Plan Investment Board increased its holdings in Rexford Industrial Realty by 262.7% in the first quarter. Canada Pension Plan Investment Board now owns 2,237,288 shares of the real estate investment trust’s stock valued at $112,536,000 after purchasing an additional 1,620,378 shares during the period. Massachusetts Financial Services Co. MA raised its position in Rexford Industrial Realty by 38.0% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 2,907,560 shares of the real estate investment trust’s stock worth $129,648,000 after purchasing an additional 800,137 shares during the last quarter. Finally, Vanguard Group Inc. grew its position in shares of Rexford Industrial Realty by 2.6% in the 1st quarter. Vanguard Group Inc. now owns 29,734,952 shares of the real estate investment trust’s stock valued at $1,495,668,000 after buying an additional 753,098 shares during the last quarter. Institutional investors own 99.52% of the company’s stock.

Insider Activity at Rexford Industrial Realty

In other Rexford Industrial Realty news, CFO Laura E. Clark sold 14,185 shares of Rexford Industrial Realty stock in a transaction on 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 filing with the SEC, which is available through this link. 1.20% of the stock is currently owned by insiders.

Rexford Industrial Realty Stock Down 3.2 %

Shares of NYSE REXR opened at $41.39 on Wednesday. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.20 and a quick ratio of 1.20. The company has a 50-day moving average price of $47.41 and a 200-day moving average price of $47.10. The stock has a market capitalization of $9.20 billion, a P/E ratio of 33.65, a P/E/G ratio of 2.04 and a beta of 0.94. Rexford Industrial Realty, Inc. has a 1 year low of $41.36 and a 1 year high of $58.02.

Rexford Industrial Realty (NYSE:REXR) 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, equities research analysts forecast that Rexford Industrial Realty, Inc. will post 2.34 EPS for the current fiscal 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 issued a dividend of $0.4175 per share. The ex-dividend date is Tuesday, December 31st. This represents a $1.67 annualized dividend and a yield of 4.03%. Rexford Industrial Realty’s dividend payout ratio (DPR) is currently 135.77%.

Wall Street Analyst Weigh In

Several research firms have issued reports on REXR. StockNews.com lowered shares of Rexford Industrial Realty from a “hold” rating to a “sell” rating in a report on Monday, October 21st. Bank of America downgraded Rexford Industrial Realty from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $66.00 to $49.00 in a report on Monday, October 21st. Scotiabank lowered Rexford Industrial Realty from a “sector outperform” rating to a “sector perform” rating and cut their target price for the company from $55.00 to $48.00 in a research report on Friday, October 25th. Wells Fargo & Company lowered their target price 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. Finally, Truist Financial lowered their price objective on shares of Rexford Industrial Realty from $54.00 to $50.00 and set a “buy” rating for the company in a research note on Tuesday. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, Rexford Industrial Realty currently has a consensus 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.