Principal Financial Group Inc. Has $538.90 Million Stock Holdings in Rexford Industrial Realty, Inc. (NYSE:REXR)

Principal Financial Group Inc. cut its holdings in Rexford Industrial Realty, Inc. (NYSE:REXR) by 14.1% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 10,711,760 shares of the real estate investment trust’s stock after selling 1,759,562 shares during the quarter. Principal Financial Group Inc. owned approximately 4.92% of Rexford Industrial Realty worth $538,904,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Fulton Bank N.A. increased its position in 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 worth $253,000 after purchasing an additional 224 shares during the period. Inspire Investing LLC increased its stake in shares of Rexford Industrial Realty by 4.9% in the 1st quarter. Inspire Investing LLC now owns 7,126 shares of the real estate investment trust’s stock valued at $358,000 after acquiring an additional 331 shares during the last quarter. Hennion & Walsh Asset Management Inc. raised its position in shares of Rexford Industrial Realty by 2.4% in the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 14,641 shares of the real estate investment trust’s stock valued at $653,000 after acquiring an additional 337 shares during the period. Victory Capital Management Inc. boosted its stake in Rexford Industrial Realty by 0.8% during the 2nd quarter. Victory Capital Management Inc. now owns 46,066 shares of the real estate investment trust’s stock worth $2,054,000 after acquiring an additional 345 shares during the last quarter. Finally, Massmutual Trust Co. FSB ADV grew its holdings in Rexford Industrial Realty by 169.4% during the second quarter. Massmutual Trust Co. FSB ADV now owns 555 shares of the real estate investment trust’s stock valued at $25,000 after purchasing an additional 349 shares during the period. 99.52% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the stock. Wells Fargo & Company reduced their price target on shares of Rexford Industrial Realty from $66.00 to $61.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 28th. Mizuho reduced their target price on shares of Rexford Industrial Realty from $50.00 to $49.00 and set a “neutral” rating for the company in a research note on Thursday, September 5th. StockNews.com downgraded Rexford Industrial Realty from a “hold” rating to a “sell” rating in a research note on Monday, October 21st. Industrial Alliance Securities set a $55.00 price objective on Rexford Industrial Realty in a report on Friday, October 18th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Rexford Industrial Realty from $47.00 to $52.00 and gave the stock a “neutral” rating in a research report on Thursday, July 25th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $51.45.

Insider Transactions at Rexford Industrial Realty

In other news, CFO Laura E. Clark sold 14,185 shares of Rexford Industrial Realty stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $50.15, for a total transaction of $711,377.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 1.20% of the stock is currently owned by corporate insiders.

Rexford Industrial Realty Stock Down 2.4 %

NYSE:REXR opened at $42.70 on Thursday. The firm has a market capitalization of $9.50 billion, a price-to-earnings ratio of 34.72, a price-to-earnings-growth ratio of 2.06 and a beta of 0.94. Rexford Industrial Realty, Inc. has a twelve month low of $41.89 and a twelve month high of $58.02. The stock’s 50 day moving average price is $48.07 and its two-hundred day moving average price 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 (NYSE:REXR) last issued its earnings results on Wednesday, October 16th. The real estate investment trust reported $0.30 EPS for the quarter, missing the consensus estimate of $0.58 by ($0.28). Rexford Industrial Realty had a return on equity of 3.35% and a net margin of 30.40%. The business had revenue of $241.84 million for the quarter, compared to the consensus estimate of $235.81 million. During the same quarter in the prior year, the firm posted $0.56 earnings per share. The business’s revenue was up 17.7% compared to the same quarter last year. Equities research analysts expect that Rexford Industrial Realty, Inc. will post 2.34 earnings per share for the current fiscal year.

Rexford Industrial Realty Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be paid a dividend of $0.4175 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $1.67 annualized dividend and a dividend yield of 3.91%. Rexford Industrial Realty’s dividend payout ratio is currently 135.77%.

Rexford Industrial Realty Profile

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.