The Manufacturers Life Insurance Company Reduces Stake in Rexford Industrial Realty, Inc. (NYSE:REXR)

The Manufacturers Life Insurance Company has reduced its stake in Rexford Industrial Realty, Inc. (NYSE:REXR) by 2.2% during the fourth quarter, according to its recent filing with the SEC. The firm owned 307,406 shares of the real estate investment trust’s stock after selling 6,764 shares, valued at $17,245,000.

Other hedge funds and institutional investors have also been buying and selling shares of REXR, with GAMMA Investing LLC, Principal Securities Inc., and International Assets Investment Management LLC among the recent buyers.

Rexford Industrial Realty stock opened at $44.12 on Monday, with a market cap of $9.61 billion. The company’s recent quarterly earnings report showed a lower than expected EPS of $0.27, with revenue of $214.10 million. Analysts anticipate Rexford Industrial Realty to post 2.34 EPS for the current fiscal year.

In addition, Rexford Industrial Realty recently announced a quarterly dividend of $0.417 per share, with a dividend yield of 3.78%. Analysts have set new price targets for REXR, with Truist Financial, Scotiabank, and Mizuho among those providing ratings.

Rexford Industrial Realty focuses on investing in, operating, and redeveloping industrial properties in Southern California. The company’s unique strategy allows for internal and external growth opportunities through its value creation and asset management capabilities.

Overall, Rexford Industrial Realty continues to be a key player in the industrial real estate market, with analysts closely monitoring its performance and future prospects.