Massachusetts Financial Services Co. MA Sells 98,613 Shares of Rexford Industrial Realty, Inc. $REXR

Massachusetts Financial Services Co. MA reduced its holdings in shares of Rexford Industrial Realty, Inc. (NYSE:REXR) by 1.3% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,564,375 shares of the real estate investment trust’s stock after selling 98,613 shares during the quarter. Massachusetts Financial Services Co. MA’s holdings in Rexford Industrial Realty were worth $310,971,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Quent Capital LLC bought a new position in shares of Rexford Industrial Realty in the third quarter worth $41,000. Farther Finance Advisors LLC raised its stake in shares of Rexford Industrial Realty by 174.1% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,228 shares of the real estate investment trust’s stock valued at $50,000 after purchasing an additional 780 shares during the period. Hantz Financial Services Inc. grew its holdings in Rexford Industrial Realty by 2,331.7% during the 2nd quarter. Hantz Financial Services Inc. now owns 1,459 shares of the real estate investment trust’s stock valued at $52,000 after buying an additional 1,399 shares in the last quarter. Caitong International Asset Management Co. Ltd lifted its holdings in shares of Rexford Industrial Realty by 69.0% in the second quarter. Caitong International Asset Management Co. Ltd now owns 1,834 shares of the real estate investment trust’s stock worth $65,000 after buying an additional 749 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB bought a new position in shares of Rexford Industrial Realty in the third quarter valued at approximately $100,000. Institutional investors own 99.52% of the company’s stock.

Rexford Industrial Realty Price Performance

REXR stock opened at $40.99 on Monday. The firm has a market cap of $9.54 billion, a P/E ratio of 28.87, a P/E/G ratio of 2.58 and a beta of 1.22. The firm’s fifty day moving average is $40.57 and its 200 day moving average is $40.23. Rexford Industrial Realty, Inc. has a 52 week low of $29.68 and a 52 week high of $44.38. The company has a debt-to-equity ratio of 0.37, a quick ratio of 2.95 and a current ratio of 2.95.

Insider Buying and Selling at Rexford Industrial Realty

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

Wall Street Analyst Weigh In

REXR has been the topic of several recent analyst reports. Industrial Alliance Securities set a $42.00 target price on shares of Rexford Industrial Realty in a research note on Wednesday, November 19th. Robert W. Baird set a $41.00 price target on shares of Rexford Industrial Realty in a report on Thursday, January 8th. Truist Financial lifted their price objective on Rexford Industrial Realty from $44.00 to $45.00 and gave the company a “buy” rating in a research note on Wednesday, November 5th. Wells Fargo & Company boosted their target price on Rexford Industrial Realty from $40.00 to $47.00 and gave the stock an “overweight” rating in a research report on Monday, October 27th. Finally, Wolfe Research cut Rexford Industrial Realty from an “outperform” rating to a “peer perform” rating in a report on Monday, October 20th. Three equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Rexford Industrial Realty currently has an average rating of “Hold” and a consensus target price of $43.08.

Rexford Industrial Realty 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.