Wellington Management Group LLP Sells 69,516 Shares of Rexford Industrial Realty, Inc. (NYSE:REXR)

Wellington Management Group LLP lowered its position in Rexford Industrial Realty, Inc. (NYSE:REXR) by 2.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,442,419 shares of the real estate investment trust’s stock after selling 69,516 shares during the period. Wellington Management Group LLP owned approximately 1.14% of Rexford Industrial Realty worth $137,020,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. GAMMA Investing LLC bought a new stake in Rexford Industrial Realty in the fourth quarter worth about $41,000. Quarry LP raised its stake in shares of Rexford Industrial Realty by 195.8% during the fourth quarter. Quarry LP now owns 1,118 shares of the real estate investment trust’s stock valued at $63,000 after acquiring an additional 740 shares in the last quarter. Principal Securities Inc. bought a new stake in shares of Rexford Industrial Realty during the fourth quarter valued at approximately $96,000. International Assets Investment Management LLC raised its stake in shares of Rexford Industrial Realty by 5,510.9% during the fourth quarter. International Assets Investment Management LLC now owns 3,086 shares of the real estate investment trust’s stock valued at $173,000 after acquiring an additional 3,031 shares in the last quarter. Finally, Cetera Trust Company N.A bought a new stake in shares of Rexford Industrial Realty during the fourth quarter valued at approximately $189,000. Institutional investors own 99.52% of the company’s stock.

Analyst Upgrades and Downgrades

REXR has been the subject of several research analyst reports. Mizuho decreased their price target on shares of Rexford Industrial Realty from $52.00 to $50.00 and set a “neutral” rating for the company in a research note on Friday, May 31st. Scotiabank decreased their price target on shares of Rexford Industrial Realty from $55.00 to $51.00 and set a “sector outperform” rating for the company in a research note on Thursday, May 16th. Truist Financial decreased their price target on shares of Rexford Industrial Realty from $53.00 to $50.00 and set a “buy” rating for the company in a research note on Thursday, May 2nd. Barclays boosted their price objective on shares of Rexford Industrial Realty from $45.00 to $46.00 and gave the stock an “underweight” rating in a research note on Tuesday, April 23rd. Finally, Robert W. Baird reduced their price objective on shares of Rexford Industrial Realty from $57.00 to $49.00 and set a “neutral” rating for the company in a research note on Wednesday, May 1st. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $52.44.

Rexford Industrial Realty Price Performance

NYSE REXR opened at $44.30 on Friday. The firm’s fifty day simple moving average is $44.41 and its two-hundred day simple moving average is $49.99. The company has a current ratio of 3.21, a quick ratio of 3.21 and a debt-to-equity ratio of 0.41. Rexford Industrial Realty, Inc. has a 12-month low of $41.56 and a 12-month high of $58.02. The firm has a market capitalization of $9.65 billion, a P/E ratio of 40.64, a P/E/G ratio of 1.77 and a beta of 0.93.

Rexford Industrial Realty (NYSE:REXR) last released its quarterly earnings results on Thursday, April 18th. The real estate investment trust reported $0.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.57 by ($0.30). The firm had revenue of $214.10 million during the quarter, compared to analysts’ expectations of $207.39 million. Rexford Industrial Realty had a return on equity of 3.04% and a net margin of 28.84%. Rexford Industrial Realty’s revenue for the quarter was up 15.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.52 earnings per share. Analysts forecast that Rexford Industrial Realty, Inc. will post 2.34 EPS for the current fiscal year.

Rexford Industrial Realty Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Friday, June 28th will be issued a dividend of $0.417 per share. This represents a $1.67 dividend on an annualized basis and a dividend yield of 3.77%. The ex-dividend date is Friday, June 28th. Rexford Industrial Realty’s dividend payout ratio (DPR) is presently 153.21%.

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.