Hsbc Holdings PLC sells 231,308 shares of Rexford Industrial Realty, Inc. (NYSE:REXR)

VaselineSeptember 23, 2024

0 4 minutes read

Hsbc Holdings PLC reduced its holdings in shares of Rexford Industrial Realty, Inc. (NYSE:REXR – Free Report) by 40.9% during the second quarter, Holdings Channel.com reports. The fund owned 333,918 shares of the real estate investment trust’s stock after selling 231,308 shares during the quarter. Hsbc Holdings PLC’s holdings in Rexford Industrial Realty were worth $14,862,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have recently modified their holdings of the company. Massmutual Trust Co. FSB ADV boosted its stake in Rexford Industrial Realty by 169.4% in the second quarter. Massmutual Trust Co. FSB ADV now owns 555 shares of the real estate investment trust’s stock worth $25,000 after acquiring an additional 349 shares in the last quarter. V Square Quantitative Management LLC purchased a new position in Rexford Industrial Realty in the second quarter worth $26,000. Headlands Technologies LLC purchased a new position in Rexford Industrial Realty in the second quarter valued at $41,000. EverSource Wealth Advisors LLC boosted its holdings in Rexford Industrial Realty by 1,252.2% in the first quarter. EverSource Wealth Advisors LLC now owns 933 shares of the real estate investment trust’s stock worth $47,000 after buying an additional 864 shares during the period. Finally, Advisors Asset Management Inc. boosted its holdings in Rexford Industrial Realty by 136.6% in the first quarter. Advisors Asset Management Inc. now owns 1,086 shares of the real estate investment trust’s stock worth $55,000 after buying an additional 627 shares during the period. 99.52% of shares are owned by institutional investors.

Insider trading at Rexford Industrial Realty

In other news, CEO Howard Schwimmer sold 30,358 shares of the company’s stock in a transaction on Friday, July 26th. The stock was sold at an average price of $48.86, for a total value of $1,483,291.88. Following the completion of the sale, the chief executive officer now owns 50,673 shares of the company’s stock, valued at approximately $2,475,882.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC’s website. In other news, CEO Howard Schwimmer sold 30,358 shares of the company’s stock in a transaction on Friday, July 26th. The stock was sold at an average price of $48.86, for a total value of $1,483,291.88. Following the completion of the sale, the chief executive officer now owns 50,673 shares of the company’s stock, valued at approximately $2,475,882.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC’s website. Also, CFO Laura E. Clark sold 14,185 shares of the firm’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $50.15, for a total value of $711,377.75. The disclosure for this sale can be found here. Insiders own 1.20% of the company’s shares.

Rexford Industrial Realty trading down 2.0%

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Shares of NYSE:REXR opened at $51.13 on Monday. Rexford Industrial Realty, Inc. has a 12-month low of $41.56 and a 12-month high of $58.02. The company’s fifty-day simple moving average is $50.14, and its 200-day simple moving average is $47.64. The company has a market cap of $11.14 billion, a PE ratio of 46.91, a P/E/G ratio of 2.10 and a beta of 0.93. The company has a current ratio of 1.73, a quick ratio of 1.73, and a debt-to-equity ratio of 0.41.

Rexford Industrial Realty (NYSE:REXR – Get Your Free Report ) last announced its quarterly earnings results on Wednesday, July 17th. The real estate investment trust reported $0.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.21). The company had revenue of $237.60 million during the quarter, compared to analysts’ expectations of $227.70 million. Rexford Industrial Realty had a net margin of 30.71% and a return on equity of 3.31%. The company’s revenue was up 21.3% compared to the same quarter last year. In the same quarter last year, the company posted earnings of $0.54 per share. As a group, equities research analysts predict that Rexford Industrial Realty, Inc. will post 2.35 earnings per share for the current fiscal year.

Rexford Industrial Realty is increasing its dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th will be given a $0.4175 dividend. This is an increase from Rexford Industrial Realty’s previous quarterly dividend of $0.42. The ex-dividend date is Monday, September 30. This represents a dividend of $1.67 on an annualized basis and a dividend yield of 3.27%. Rexford Industrial Realty’s dividend payout ratio (DPR) is currently 153.21%.

Analysts set new price targets

Several research firms have commented on REXR. Scotiabank lifted their price objective on Rexford Industrial Realty from $51.00 to $55.00 and gave the stock a “sector outperform” rating in a report on Monday, August 26th. Evercore ISI upped their price objective on Rexford Industrial Realty from $57.00 to $58.00 and gave the stock an “outperform” rating in a report on Monday, September 16th. JPMorgan Chase & Co. raised their price objective on Rexford Industrial Realty from $47.00 to $52.00 and gave the stock a “neutral” rating in a report on Thursday, July 25th. Wells Fargo & Company decreased their price objective on Rexford Industrial Realty from $66.00 to $61.00 and set an “overweight” rating on the stock in a report on Wednesday, August 28th. Finally, Mizuho decreased their price objective on Rexford Industrial Realty from $50.00 to $49.00 and set a “neutral” rating on the stock in a report on Thursday, September 5th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $52.50, according to MarketBeat.

Get the latest report on REXR

About Rexford Industrial Realty

(Free Report)

Rexford Industrial creates value by investing, operating and redeveloping industrial properties in Southern California’s infill area, the fourth largest industrial market in the world and consistently the highest demand with the lowest supply in the country. The company’s highly differentiated strategy provides opportunities for internal and external growth through its own value creation and asset management capabilities.