Baillie Gifford & Co. Sells 142,292 Shares of Rexford Industrial Realty, Inc. (NYSE:REXR)

Baillie Gifford & Co. reduced its position in shares of Rexford Industrial Realty, Inc. (NYSE:REXR) by 23.8% in the second quarter, HoldingsChannel reports. The firm owned 454,763 shares of the real estate investment trust’s stock after selling 142,292 shares during the quarter. Baillie Gifford & Co.’s holdings in Rexford Industrial Realty were worth $20,278,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also made changes to their positions in the company. Massmutual Trust Co. FSB ADV boosted its holdings in shares of 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 buying an additional 349 shares during the last quarter. V Square Quantitative Management LLC purchased a new position in shares of Rexford Industrial Realty during the 2nd quarter worth $26,000. GAMMA Investing LLC bought a new stake in shares of Rexford Industrial Realty during the 4th quarter valued at $41,000. EverSource Wealth Advisors LLC increased its stake in shares of Rexford Industrial Realty by 1,252.2% in the 1st quarter. EverSource Wealth Advisors LLC now owns 933 shares of the real estate investment trust’s stock worth $47,000 after purchasing an additional 864 shares in the last quarter. Finally, Advisors Asset Management Inc. raised its holdings in Rexford Industrial Realty by 136.6% in the 1st quarter. Advisors Asset Management Inc. now owns 1,086 shares of the real estate investment trust’s stock worth $55,000 after purchasing an additional 627 shares during the period. 99.52% of the stock is currently owned by institutional investors.

Rexford Industrial Realty Price Performance

Shares of REXR stock traded up $0.82 during mid-day trading on Friday, hitting $52.03. The company had a trading volume of 859,223 shares, compared to its average volume of 1,707,290. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.73 and a quick ratio of 1.73. The stock’s 50 day moving average price is $47.93 and its 200-day moving average price is $47.86. Rexford Industrial Realty, Inc. has a 52-week low of $41.56 and a 52-week high of $58.02. The company has a market capitalization of $11.42 billion, a P/E ratio of 47.73, a P/E/G ratio of 2.06 and a beta of 0.92.

Rexford Industrial Realty (NYSE:REXR) last announced its quarterly earnings results on Wednesday, July 17th. The real estate investment trust reported $0.37 EPS for the quarter, missing the consensus estimate of $0.58 by ($0.21). Rexford Industrial Realty had a return on equity of 3.31% and a net margin of 30.71%. The company had revenue of $237.60 million during the quarter, compared to analysts’ expectations of $227.70 million. During the same quarter in the previous year, the firm earned $0.54 EPS. The firm’s revenue for the quarter was up 21.3% compared to the same quarter last year. Equities research analysts forecast that Rexford Industrial Realty, Inc. will post 2.35 earnings per share for the current year.

Rexford Industrial Realty Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th will be issued a dividend of $0.4175 per share. This represents a $1.67 annualized dividend and a dividend yield of 3.21%. This is a boost from Rexford Industrial Realty’s previous quarterly dividend of $0.42. The ex-dividend date of this dividend is Monday, September 30th. Rexford Industrial Realty’s dividend payout ratio is 153.21%.

Wall Street Analyst Weigh In

REXR has been the subject of several recent research reports. Evercore ISI started coverage on Rexford Industrial Realty in a report on Wednesday, July 10th. They set an “outperform” rating and a $54.00 price target for the company. Robert W. Baird cut their price objective on Rexford Industrial Realty from $57.00 to $49.00 and set a “neutral” rating for the company in a research note on Wednesday, May 1st. StockNews.com raised shares of Rexford Industrial Realty from a “sell” rating to a “hold” rating in a report on Monday, July 22nd. JPMorgan Chase & Co. lifted their price target on shares of Rexford Industrial Realty from $47.00 to $52.00 and gave the company a “neutral” rating in a report on Thursday, July 25th. Finally, Mizuho dropped their price target on shares of Rexford Industrial Realty from $52.00 to $50.00 and set a “neutral” rating for the company in a research report on Friday, May 31st. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, Rexford Industrial Realty currently has an average rating of “Hold” and a consensus price target of $52.70.

Insider Activity

In related news, CEO Howard Schwimmer sold 30,358 shares of Rexford Industrial Realty stock in a transaction dated 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 transaction, the chief executive officer now owns 50,673 shares in the company, valued at $2,475,882.78. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 1.20% of the company’s stock.

Rexford Industrial Realty Profile

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.