Hsbc Holdings PLC Trims Stock Holdings in Rexford Industrial Realty, Inc. (NYSE:REXR)

Hsbc Holdings PLC decreased its stake in Rexford Industrial Realty, Inc. (NYSE:REXR) by 40.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 333,918 shares of the real estate investment trust’s stock after selling 231,308 shares during the quarter. Hsbc Holdings PLC owned approximately 0.15% of Rexford Industrial Realty worth $14,862,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Vanguard Personalized Indexing Management LLC increased its position in Rexford Industrial Realty by 44.9% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 18,021 shares of the real estate investment trust’s stock worth $804,000 after buying an additional 5,581 shares in the last quarter. Renaissance Technologies LLC increased its position in Rexford Industrial Realty by 237.3% in the second quarter. Renaissance Technologies LLC now owns 341,000 shares of the real estate investment trust’s stock worth $15,205,000 after buying an additional 239,909 shares in the last quarter. Dimensional Fund Advisors LP increased its position in Rexford Industrial Realty by 6.4% in the second quarter. Dimensional Fund Advisors LP now owns 3,326,694 shares of the real estate investment trust’s stock worth $148,337,000 after buying an additional 200,027 shares in the last quarter. Massachusetts Financial Services Co. MA increased its position in Rexford Industrial Realty by 38.0% in the second 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 buying an additional 800,137 shares in the last quarter. Finally, Envestnet Asset Management Inc. increased its position in Rexford Industrial Realty by 24.1% in the second quarter. Envestnet Asset Management Inc. now owns 297,948 shares of the real estate investment trust’s stock worth $13,286,000 after buying an additional 57,921 shares in the last quarter. Hedge funds and other institutional investors own 99.52% of the company’s stock.

Insider Activity

In other news, CEO Howard Schwimmer sold 30,358 shares of the firm’s stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $48.86, for a total value of $1,483,291.88. Following the completion of the sale, the chief executive officer now directly owns 50,673 shares of the company’s stock, valued at approximately $2,475,882.78. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Howard Schwimmer sold 30,358 shares of the firm’s stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $48.86, for a total value of $1,483,291.88. Following the completion of the sale, the chief executive officer now directly owns 50,673 shares of the company’s stock, valued at approximately $2,475,882.78. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Laura E. Clark sold 14,185 shares of the firm’s stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $50.15, for a total value of $711,377.75. The disclosure for this sale can be found here. Corporate insiders own 1.20% of the company’s stock.

Rexford Industrial Realty Price Performance

Shares of Rexford Industrial Realty stock opened at $51.13 on Monday. The stock has a 50 day moving average of $50.14 and a 200 day moving average of $47.64. 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 cap of $11.14 billion, a PE ratio of 46.91, a PEG ratio of 2.10 and a beta of 0.93. The company has a current ratio of 1.73, a quick ratio of 1.73 and a debt-to-equity ratio of 0.41.

Rexford Industrial Realty (NYSE:REXR) last announced its quarterly earnings results on Wednesday, July 17th. The real estate investment trust reported $0.37 EPS for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.21). Rexford Industrial Realty had a net margin of 30.71% and a return on equity of 3.31%. The firm had revenue of $237.60 million for the quarter, compared to the consensus estimate of $227.70 million. During the same period in the previous year, the company posted $0.54 earnings per share. Rexford Industrial Realty’s quarterly revenue was up 21.3% on a year-over-year basis. On average, research analysts expect that Rexford Industrial Realty, Inc. will post 2.35 EPS for the current fiscal year.

Rexford Industrial Realty Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th will be paid a $0.4175 dividend. This represents a $1.67 annualized dividend and a dividend yield of 3.27%. This is a positive change from Rexford Industrial Realty’s previous quarterly dividend of $0.42. The ex-dividend date of this dividend is Monday, September 30th. Rexford Industrial Realty’s dividend payout ratio (DPR) is presently 153.21%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. Mizuho reduced their price target on Rexford Industrial Realty from $50.00 to $49.00 and set a “neutral” rating for the company in a research report on Thursday, September 5th. Truist Financial increased their target price on Rexford Industrial Realty from $50.00 to $54.00 and gave the stock a “buy” rating in a research report on Tuesday, July 30th. StockNews.com upgraded Rexford Industrial Realty from a “sell” rating to a “hold” rating in a research report on Monday, July 22nd. JPMorgan Chase & Co. increased their target price on Rexford Industrial Realty from $47.00 to $52.00 and gave the stock a “neutral” rating in a research report on Thursday, July 25th. Finally, Scotiabank increased their target price on Rexford Industrial Realty from $51.00 to $55.00 and gave the stock a “sector outperform” rating in a research report on Monday, August 26th. One analyst has rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $52.50.

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.