Hsbc Holdings PLC Has $14.17 Million Position in Rexford Industrial Realty, Inc. $REXR

Hsbc Holdings PLC increased its holdings in shares of Rexford Industrial Realty, Inc. (NYSE:REXR) by 11.6% in the 1st quarter, Holdings Channel.com reports. The firm owned 432,813 shares of the real estate investment trust’s stock after acquiring an additional 44,977 shares during the quarter. Hsbc Holdings PLC’s holdings in Rexford Industrial Realty were worth $14,166,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Sumitomo Mitsui Trust Group Inc. lifted its position in Rexford Industrial Realty by 24.3% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 323,592 shares of the real estate investment trust’s stock worth $12,529,000 after purchasing an additional 63,313 shares during the period. Oak Thistle LLC acquired a new position in Rexford Industrial Realty in the fourth quarter valued at about $2,347,000. William Blair Investment Management LLC boosted its position in Rexford Industrial Realty by 7.8% in the fourth quarter. William Blair Investment Management LLC now owns 935,111 shares of the real estate investment trust’s stock valued at $36,207,000 after buying an additional 67,276 shares in the last quarter. Principal Financial Group Inc. grew its stake in Rexford Industrial Realty by 19.5% during the fourth quarter. Principal Financial Group Inc. now owns 11,518,739 shares of the real estate investment trust’s stock worth $446,006,000 after buying an additional 1,881,905 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. grew its stake in Rexford Industrial Realty by 5,347.4% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 156,941 shares of the real estate investment trust’s stock worth $6,077,000 after buying an additional 154,060 shares during the last quarter. 99.52% of the stock is owned by institutional investors.

Rexford Industrial Realty Stock Performance

Shares of Rexford Industrial Realty stock opened at $36.75 on Thursday. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.50 and a quick ratio of 1.50. The firm has a market cap of $8.30 billion, a P/E ratio of 39.52, a P/E/G ratio of 1.55 and a beta of 1.21. The firm has a 50 day simple moving average of $34.83 and a 200 day simple moving average of $36.14. Rexford Industrial Realty, Inc. has a fifty-two week low of $32.14 and a fifty-two week high of $44.38.

Rexford Industrial Realty (NYSE:REXR) last posted its quarterly earnings data on Thursday, April 23rd. The real estate investment trust reported $0.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.27 by $0.11. The firm had revenue of $242.14 million for the quarter, compared to the consensus estimate of $243.78 million. Rexford Industrial Realty had a return on equity of 2.64% and a net margin of 23.25%.The business’s revenue for the quarter was down 2.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.62 EPS. Sell-side analysts predict that Rexford Industrial Realty, Inc. will post 2.4 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

REXR has been the subject of several recent analyst reports. Evercore raised shares of Rexford Industrial Realty from an “in-line” rating to an “outperform” rating and set a $40.00 price objective for the company in a report on Monday, April 13th. Raymond James Financial initiated coverage on Rexford Industrial Realty in a research note on Wednesday, June 17th. They issued an “underperform” rating on the stock. Barclays lowered their target price on Rexford Industrial Realty from $40.00 to $36.00 and set an “underweight” rating for the company in a research note on Thursday, July 16th. Truist Financial cut their price target on Rexford Industrial Realty from $40.00 to $38.00 and set a “buy” rating for the company in a report on Thursday, May 21st. Finally, Zacks Research upgraded shares of Rexford Industrial Realty from a “strong sell” rating to a “hold” rating in a research report on Tuesday, April 28th. Five analysts have rated the stock with a Buy rating, six have given a Hold rating and three have given a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $40.38.

Insider Activity at Rexford Industrial Realty

In other news, General Counsel David E. Lanzer sold 33,299 shares of Rexford Industrial Realty stock in a transaction on Tuesday, April 28th. The stock was sold at an average price of $35.47, for a total value of $1,181,115.53. Following the completion of the sale, the general counsel directly owned 33,299 shares of the company’s stock, valued at approximately $1,181,115.53. This trade represents a 50.00% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.80% of the company’s stock.

Rexford Industrial Realty Company Profile

Rexford Industrial Realty, Inc (NYSE: REXR) is a real estate investment trust (REIT) specializing in the acquisition, ownership and operation of industrial properties in Southern California. The company’s portfolio is concentrated in infill locations across key supply-chain markets, where it targets modern distribution centers, logistics facilities and light manufacturing spaces. Rexford’s strategy emphasizes buildings that offer proximity to major transportation routes and labor pools, catering to tenants in e-commerce, third-party logistics and manufacturing industries.

Since its founding in 2013, Rexford Industrial Realty has executed a disciplined growth plan driven by property acquisitions, selective development projects and strategic value-add initiatives.