Janus Henderson Group PLC Cuts Stock Holdings in Rexford Industrial Realty, Inc. (NYSE:REXR)

Janus Henderson Group PLC reduced its position in Rexford Industrial Realty, Inc. (NYSE:REXR) by 2.1% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 121,356 shares of the real estate investment trust’s stock after selling 2,553 shares during the period. Janus Henderson Group PLC’s holdings in Rexford Industrial Realty were worth $6,105,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in REXR. V Square Quantitative Management LLC bought a new stake in shares of Rexford Industrial Realty in the 2nd quarter worth $26,000. UMB Bank n.a. increased its holdings in Rexford Industrial Realty by 164.3% in the 3rd quarter. UMB Bank n.a. now owns 719 shares of the real estate investment trust’s stock worth $36,000 after buying an additional 447 shares in the last quarter. Headlands Technologies LLC bought a new stake in Rexford Industrial Realty in the 2nd quarter worth about $41,000. CWM LLC raised its position in Rexford Industrial Realty by 73.9% in the 2nd quarter. CWM LLC now owns 1,485 shares of the real estate investment trust’s stock worth $66,000 after buying an additional 631 shares during the last quarter. Finally, Fifth Third Bancorp lifted its stake in Rexford Industrial Realty by 42.4% during the 2nd quarter. Fifth Third Bancorp now owns 1,741 shares of the real estate investment trust’s stock valued at $78,000 after acquiring an additional 518 shares during the period. 99.52% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

REXR has been the subject of several research reports. StockNews.com cut shares of Rexford Industrial Realty from a “hold” rating to a “sell” rating in a report on Monday, October 21st. Mizuho cut their price objective on Rexford Industrial Realty from $50.00 to $49.00 and set a “neutral” rating for the company in a report on Thursday, September 5th. Truist Financial reduced their price objective on Rexford Industrial Realty from $54.00 to $50.00 and set a “buy” rating for the company in a research report on Tuesday, November 12th. Bank of America cut Rexford Industrial Realty from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $66.00 to $49.00 in a research report on Monday, October 21st. Finally, Scotiabank lowered shares of Rexford Industrial Realty from a “sector outperform” rating to a “sector perform” rating and reduced their price target for the company from $55.00 to $48.00 in a research report on Friday, October 25th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $51.09.

Rexford Industrial Realty Price Performance

REXR stock opened at $41.71 on Tuesday. Rexford Industrial Realty, Inc. has a 52 week low of $39.85 and a 52 week high of $58.02. The firm has a market capitalization of $9.28 billion, a P/E ratio of 33.91, a price-to-earnings-growth ratio of 1.90 and a beta of 0.93. The company has a fifty day simple moving average of $44.09 and a two-hundred day simple moving average of $46.73. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 0.40.

Rexford Industrial Realty (NYSE:REXR) last issued its quarterly earnings data on Wednesday, October 16th. The real estate investment trust reported $0.30 earnings per share for the quarter, missing the consensus estimate of $0.58 by ($0.28). The company had revenue of $241.84 million for the quarter, compared to the consensus estimate of $235.81 million. Rexford Industrial Realty had a return on equity of 3.35% and a net margin of 30.40%. The company’s revenue was up 17.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.56 earnings per share. Analysts anticipate that Rexford Industrial Realty, Inc. will post 2.34 earnings per share for the current fiscal year.

Rexford Industrial Realty Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be paid a dividend of $0.4175 per share. This represents a $1.67 annualized dividend and a yield of 4.00%. The ex-dividend date is Tuesday, December 31st. Rexford Industrial Realty’s payout ratio is 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.