Rexford Industrial Realty, Inc. (NYSE:REXR) Shares Bought by Franklin Resources Inc.

Franklin Resources Inc. increased its position in Rexford Industrial Realty, Inc. (NYSE:REXR) by 1.1% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 822,740 shares of the real estate investment trust’s stock after acquiring an additional 9,200 shares during the period. Franklin Resources Inc. owned approximately 0.37% of Rexford Industrial Realty worth $38,924,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of REXR. CWM LLC grew its holdings in Rexford Industrial Realty by 73.9% in the second quarter. CWM LLC now owns 1,485 shares of the real estate investment trust’s stock valued at $66,000 after purchasing an additional 631 shares during the last quarter. Wealth Enhancement Advisory Services LLC acquired a new stake in Rexford Industrial Realty in the 2nd quarter valued at about $424,000. Envestnet Portfolio Solutions Inc. increased its holdings in Rexford Industrial Realty by 28.2% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 5,380 shares of the real estate investment trust’s stock valued at $240,000 after acquiring an additional 1,185 shares in the last quarter. Raymond James & Associates raised its position in Rexford Industrial Realty by 264.5% during the second quarter. Raymond James & Associates now owns 361,672 shares of the real estate investment trust’s stock worth $16,127,000 after acquiring an additional 262,435 shares during the last quarter. Finally, Hennion & Walsh Asset Management Inc. lifted its holdings in shares of Rexford Industrial Realty by 2.4% in the second quarter. Hennion & Walsh Asset Management Inc. now owns 14,641 shares of the real estate investment trust’s stock valued at $653,000 after purchasing an additional 337 shares in the last quarter. 99.52% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

REXR has been the subject of a number of recent research reports. Truist Financial dropped their price objective on shares of Rexford Industrial Realty from $54.00 to $50.00 and set a “buy” rating for the company in a research note on Tuesday, November 12th. StockNews.com downgraded Rexford Industrial Realty from a “hold” rating to a “sell” rating in a research report on Monday, October 21st. Wells Fargo & Company reduced their price objective on 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. Bank of America cut Rexford Industrial Realty from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $66.00 to $49.00 in a research report on Monday, October 21st. Finally, Scotiabank downgraded shares of Rexford Industrial Realty from a “sector outperform” rating to a “sector perform” rating and cut their target price for the company from $55.00 to $48.00 in a research note on Friday, October 25th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $51.09.

Rexford Industrial Realty Trading Down 0.3 %

Shares of REXR stock opened at $39.94 on Wednesday. The firm’s 50-day simple moving average is $43.29 and its 200-day simple moving average is $46.61. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.20 and a quick ratio of 1.20. Rexford Industrial Realty, Inc. has a 1-year low of $39.85 and a 1-year high of $57.01. The firm has a market cap of $8.88 billion, a P/E ratio of 32.47, a PEG ratio of 1.94 and a beta of 0.93.

Rexford Industrial Realty (NYSE:REXR) last posted its quarterly earnings results on Wednesday, October 16th. The real estate investment trust reported $0.30 earnings per share for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.28). The company had revenue of $241.84 million for the quarter, compared to analysts’ expectations of $235.81 million. Rexford Industrial Realty had a return on equity of 3.35% and a net margin of 30.40%. The business’s revenue for the quarter was up 17.7% on a year-over-year basis. During the same period in the prior year, the business earned $0.56 EPS. As a group, equities analysts forecast that Rexford Industrial Realty, Inc. will post 2.34 EPS for the current year.

Rexford Industrial Realty Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be given a dividend of $0.4175 per share. This represents a $1.67 dividend on an annualized basis and a yield of 4.18%. The ex-dividend date is Tuesday, December 31st. Rexford Industrial Realty’s dividend payout ratio (DPR) is presently 135.77%.

About Rexford Industrial Realty

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.