Franklin Resources Inc. Decreases Stock Holdings in Rexford Industrial Realty, Inc. $REXR

Franklin Resources Inc. reduced its position in shares of Rexford Industrial Realty, Inc. (NYSE:REXR) by 97.1% in the second quarter, HoldingsChannel reports. The institutional investor owned 21,140 shares of the real estate investment trust’s stock after selling 709,915 shares during the quarter. Franklin Resources Inc.’s holdings in Rexford Industrial Realty were worth $752,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in shares of Rexford Industrial Realty by 5.7% in the second quarter. Vanguard Group Inc. now owns 32,460,761 shares of the real estate investment trust’s stock valued at $1,154,629,000 after acquiring an additional 1,749,685 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in shares of Rexford Industrial Realty by 1.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 27,443,472 shares of the real estate investment trust’s stock worth $1,074,413,000 after purchasing an additional 445,743 shares during the period. Geode Capital Management LLC grew its stake in shares of Rexford Industrial Realty by 3.9% in the second quarter. Geode Capital Management LLC now owns 4,525,150 shares of the real estate investment trust’s stock worth $160,984,000 after purchasing an additional 167,800 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in Rexford Industrial Realty by 18.3% during the 1st quarter. JPMorgan Chase & Co. now owns 3,856,451 shares of the real estate investment trust’s stock valued at $150,980,000 after purchasing an additional 595,759 shares during the period. Finally, Nuveen LLC purchased a new position in Rexford Industrial Realty during the 1st quarter valued at about $146,155,000. Institutional investors own 99.52% of the company’s stock.

Insider Buying and Selling

In other Rexford Industrial Realty news, CEO Michael S. Frankel sold 20,318 shares of the company’s stock in a transaction dated Thursday, December 4th. The shares were sold at an average price of $41.61, for a total value of $845,431.98. Following the sale, the chief executive officer owned 602,288 shares in the company, valued at approximately $25,061,203.68. This represents a 3.26% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders have sold a total of 38,368 shares of company stock worth $1,594,581 over the last 90 days. Insiders own 1.20% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Scotiabank increased their price objective on Rexford Industrial Realty from $43.00 to $44.00 and gave the stock a “sector perform” rating in a report on Monday, November 10th. Barclays upped their target price on Rexford Industrial Realty from $35.00 to $39.00 and gave the company an “underweight” rating in a report on Monday, September 15th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Rexford Industrial Realty in a research note on Wednesday, October 8th. UBS Group set a $44.00 price target on shares of Rexford Industrial Realty in a report on Monday, November 10th. Finally, Industrial Alliance Securities set a $42.00 price objective on shares of Rexford Industrial Realty in a report on Wednesday, November 19th. Three analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $43.08.

Rexford Industrial Realty Trading Down 1.1%

REXR opened at $40.72 on Monday. The stock has a market cap of $9.48 billion, a PE ratio of 28.68, a PEG ratio of 2.52 and a beta of 1.22. The company has a quick ratio of 2.95, a current ratio of 2.95 and a debt-to-equity ratio of 0.37. The business has a 50 day moving average of $41.57 and a 200-day moving average of $39.37. Rexford Industrial Realty, Inc. has a 52 week low of $29.68 and a 52 week high of $44.38.

Rexford Industrial Realty (NYSE:REXR) last issued its quarterly earnings results on Wednesday, October 15th. The real estate investment trust reported $0.60 earnings per share for the quarter, topping the consensus estimate 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%.The firm’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.59 earnings per share. 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 Announces Dividend

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