PGGM Investments Sells 568,140 Shares of Rexford Industrial Realty, Inc. $REXR

PGGM Investments cut its holdings in Rexford Industrial Realty, Inc. (NYSE:REXR) by 24.1% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,785,723 shares of the real estate investment trust’s stock after selling 568,140 shares during the quarter. PGGM Investments’ holdings in Rexford Industrial Realty were worth $73,411,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Royal Bank of Canada lifted its holdings in shares of Rexford Industrial Realty by 3.5% during the first quarter. Royal Bank of Canada now owns 251,550 shares of the real estate investment trust’s stock valued at $9,849,000 after purchasing an additional 8,506 shares in the last quarter. AQR Capital Management LLC raised its position in Rexford Industrial Realty by 309.8% in the 1st quarter. AQR Capital Management LLC now owns 118,245 shares of the real estate investment trust’s stock worth $4,628,000 after buying an additional 89,390 shares during the last quarter. Goldman Sachs Group Inc. lifted its stake in Rexford Industrial Realty by 41.0% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,811,775 shares of the real estate investment trust’s stock valued at $70,931,000 after acquiring an additional 526,877 shares during the period. Voya Investment Management LLC boosted its holdings in shares of Rexford Industrial Realty by 2.7% during the 1st quarter. Voya Investment Management LLC now owns 27,489 shares of the real estate investment trust’s stock valued at $1,076,000 after acquiring an additional 718 shares during the last quarter. Finally, Pallas Capital Advisors LLC purchased a new stake in shares of Rexford Industrial Realty during the 2nd quarter valued at about $267,000. Institutional investors own 99.52% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on REXR. BNP Paribas Exane reissued a “neutral” rating and set a $47.00 price objective on shares of Rexford Industrial Realty in a report on Tuesday, October 21st. Wall Street Zen lowered shares of Rexford Industrial Realty from a “hold” rating to a “sell” rating in a research note on Saturday, October 18th. UBS Group set a $44.00 price target on Rexford Industrial Realty in a report on Monday, November 10th. BNP Paribas lowered Rexford Industrial Realty to a “hold” rating in a report on Tuesday, October 21st. Finally, Wolfe Research cut Rexford Industrial Realty from an “outperform” rating to a “peer perform” rating in a research report on Monday, October 20th. Three investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $43.08.

Insider Buying and Selling

In other Rexford Industrial Realty news, CEO Michael S. Frankel sold 18,750 shares of the company’s stock in a transaction dated Monday, December 8th. The stock was sold at an average price of $40.06, for a total value of $751,125.00. Following the completion of the sale, the chief executive officer owned 583,538 shares in the company, valued at $23,376,532.28. This represents a 3.11% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders sold a total of 57,118 shares of company stock valued at $2,345,706 in the last three months. Corporate insiders own 1.20% of the company’s stock.

Rexford Industrial Realty Trading Up 0.2%

Shares of REXR stock opened at $41.04 on Friday. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.95 and a quick ratio of 2.95. The company has a market cap of $9.55 billion, a price-to-earnings ratio of 28.90, a PEG ratio of 2.58 and a beta of 1.22. Rexford Industrial Realty, Inc. has a 1 year low of $29.68 and a 1 year high of $44.38. The firm has a fifty day moving average price of $40.59 and a 200-day moving average price of $40.14.

Rexford Industrial Realty (NYSE:REXR) last announced its earnings results on Wednesday, October 15th. The real estate investment trust reported $0.60 EPS for the quarter, topping analysts’ consensus estimates of $0.59 by $0.01. The company had revenue of $253.24 million for the quarter, compared to analysts’ expectations of $253.46 million. Rexford Industrial Realty had a return on equity of 3.81% and a net margin of 33.88%.Rexford Industrial Realty’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same period last year, the firm earned $0.59 EPS. As a group, equities analysts predict that Rexford Industrial Realty, Inc. will post 2.38 earnings per share for the current year.

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.