Massachusetts Financial Services Co. MA Cuts Stock Position in Rexford Industrial Realty, Inc. $REXR

Massachusetts Financial Services Co. MA trimmed its position in shares of Rexford Industrial Realty, Inc. (NYSE:REXR) by 1.1% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,662,988 shares of the real estate investment trust’s stock after selling 88,934 shares during the period. Massachusetts Financial Services Co. MA owned about 3.24% of Rexford Industrial Realty worth $272,572,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Northwestern Mutual Wealth Management Co. raised its stake in shares of Rexford Industrial Realty by 403.6% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 690 shares of the real estate investment trust’s stock worth $27,000 after acquiring an additional 553 shares in the last quarter. Caitong International Asset Management Co. Ltd boosted its position in Rexford Industrial Realty by 280.7% during the first quarter. Caitong International Asset Management Co. Ltd now owns 1,085 shares of the real estate investment trust’s stock valued at $42,000 after buying an additional 800 shares during the period. Hantz Financial Services Inc. grew its stake in shares of Rexford Industrial Realty by 2,331.7% during the second quarter. Hantz Financial Services Inc. now owns 1,459 shares of the real estate investment trust’s stock valued at $52,000 after buying an additional 1,399 shares during the last quarter. Avalon Trust Co bought a new stake in shares of Rexford Industrial Realty in the 1st quarter valued at about $66,000. Finally, CWM LLC boosted its holdings in Rexford Industrial Realty by 106.5% during the 1st quarter. CWM LLC now owns 4,221 shares of the real estate investment trust’s stock valued at $165,000 after acquiring an additional 2,177 shares during the period. Hedge funds and other institutional investors own 99.52% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have weighed in on REXR shares. Evercore ISI boosted their price objective on Rexford Industrial Realty from $39.00 to $40.00 and gave the company an “in-line” rating in a research report on Monday, September 15th. Wolfe Research cut shares of Rexford Industrial Realty from an “outperform” rating to a “peer perform” rating in a research report on Monday, October 20th. Scotiabank increased their target price on shares of Rexford Industrial Realty from $43.00 to $44.00 and gave the stock a “sector perform” rating in a report on Monday, November 10th. Cantor Fitzgerald started coverage on Rexford Industrial Realty in a report on Wednesday, October 1st. They set an “overweight” rating and a $50.00 price target on the stock. Finally, Barclays boosted their target price on Rexford Industrial Realty from $35.00 to $39.00 and gave the company an “underweight” rating in a research note on Monday, September 15th. Three investment analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $42.77.

Rexford Industrial Realty Trading Down 0.6%

REXR opened at $40.97 on Monday. The stock has a market cap of $9.54 billion, a PE ratio of 28.85, a PEG ratio of 3.05 and a beta of 1.15. The business has a 50 day moving average of $41.99 and a 200-day moving average of $38.68. Rexford Industrial Realty, Inc. has a 52 week low of $29.68 and a 52 week high of $44.38. The company has a quick ratio of 2.95, a current ratio of 2.95 and a debt-to-equity ratio of 0.37.

Rexford Industrial Realty (NYSE:REXR) last posted its quarterly earnings data on Wednesday, October 15th. The real estate investment trust reported $0.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.59 by $0.01. Rexford Industrial Realty had a return on equity of 3.81% and a net margin of 33.88%.The business had revenue of $253.24 million during the quarter, compared to the consensus estimate of $253.46 million. During the same quarter in the prior year, the company earned $0.59 earnings per share. The firm’s quarterly revenue was up 4.7% compared to the same quarter last year. Rexford Industrial Realty has set its FY 2025 guidance at 2.390-2.410 EPS. Equities research analysts predict that Rexford Industrial Realty, Inc. will post 2.38 earnings per share for the current fiscal year.

Rexford Industrial Realty Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 15th. Investors of record on Wednesday, December 31st will be paid a dividend of $0.43 per share. The ex-dividend date of this dividend is Wednesday, December 31st. This represents a $1.72 annualized dividend and a yield of 4.2%. Rexford Industrial Realty’s payout ratio is presently 121.13%.

Rexford Industrial Realty Profile

Rexford Industrial Realty, Inc is a self-administered and self-managed real estate investment trust, which engages in owning and operating industrial properties in infill markets. The company was founded by Richard S. Ziman on January 18, 2013 and is headquartered in Los Angeles, CA.