Principal Financial Group Inc. Sells 499,171 Shares of Rexford Industrial Realty, Inc. $REXR

Principal Financial Group Inc. cut its position in shares of Rexford Industrial Realty, Inc. (NYSE:REXR) by 4.9% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 9,636,834 shares of the real estate investment trust’s stock after selling 499,171 shares during the quarter. Principal Financial Group Inc. owned approximately 4.14% of Rexford Industrial Realty worth $396,171,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of REXR. Vanguard Group Inc. grew its position in Rexford Industrial Realty by 5.7% during 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 last quarter. State Street Corp boosted its stake in shares of Rexford Industrial Realty by 4.9% in the 2nd quarter. State Street Corp now owns 11,906,613 shares of the real estate investment trust’s stock valued at $428,509,000 after purchasing an additional 556,810 shares in the last quarter. Soroban Capital Partners LP grew its holdings in shares of Rexford Industrial Realty by 57.2% during the 2nd quarter. Soroban Capital Partners LP now owns 9,191,038 shares of the real estate investment trust’s stock valued at $326,925,000 after purchasing an additional 3,344,677 shares during the last quarter. Geode Capital Management LLC raised its position in Rexford Industrial Realty by 3.9% in the 2nd 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 period. Finally, Charles Schwab Investment Management Inc. raised its position in Rexford Industrial Realty by 7.8% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 3,158,500 shares of the real estate investment trust’s stock worth $112,348,000 after purchasing an additional 228,331 shares during the period. 99.52% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on REXR. Industrial Alliance Securities set a $42.00 price objective on Rexford Industrial Realty in a research note on Wednesday, November 19th. Mizuho increased their target price on Rexford Industrial Realty from $40.00 to $41.00 and gave the company a “neutral” rating in a report on Thursday, December 4th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Rexford Industrial Realty in a research note on Thursday, January 22nd. Scotiabank boosted their price objective on Rexford Industrial Realty from $43.00 to $44.00 and gave the company a “sector perform” rating in a research report on Monday, November 10th. Finally, Evercore ISI cut their target price on shares of Rexford Industrial Realty from $41.00 to $40.00 and set an “in-line” rating on the stock in a report on Monday, December 22nd. Three analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Rexford Industrial Realty has a consensus rating of “Hold” and an average price target of $43.00.

Rexford Industrial Realty Stock Up 0.8%

Shares of NYSE:REXR opened at $40.50 on Friday. Rexford Industrial Realty, Inc. has a 1 year low of $29.68 and a 1 year high of $44.38. 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 stock’s 50-day moving average is $40.32 and its 200 day moving average is $40.41. The company has a market cap of $9.43 billion, a PE ratio of 28.52, a P/E/G ratio of 2.53 and a beta of 1.22.

Insider Buying and Selling

In related news, CEO Michael S. Frankel sold 18,750 shares of Rexford Industrial Realty stock in a transaction on Monday, December 8th. The shares were sold at an average price of $40.06, for a total value of $751,125.00. Following the sale, the chief executive officer owned 583,538 shares in the company, valued at $23,376,532.28. The trade was a 3.11% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders sold a total of 57,118 shares of company stock valued at $2,345,706 over the last ninety days. Company insiders own 1.20% of the company’s stock.

About Rexford Industrial Realty

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.