Greenland Capital Management LP Acquires New Shares in Rexford Industrial Realty, Inc. $REXR

Greenland Capital Management LP purchased a new position in Rexford Industrial Realty, Inc. (NYSE:REXR) in the second quarter, Holdings Channel reports. The fund purchased 59,691 shares of the real estate investment trust’s stock, valued at approximately $2,123,000.

Several other large investors also recently made changes to their positions in the stock. Summit Investment Advisors Inc. raised its stake in shares of Rexford Industrial Realty by 0.7% in the 1st quarter. Summit Investment Advisors Inc. now owns 44,771 shares of the real estate investment trust’s stock valued at $1,753,000 after acquiring an additional 308 shares in the last quarter. Mutual of America Capital Management LLC grew its holdings in Rexford Industrial Realty by 0.3% during the second quarter. Mutual of America Capital Management LLC now owns 117,425 shares of the real estate investment trust’s stock valued at $4,177,000 after purchasing an additional 311 shares during the last quarter. Caitlin John LLC raised its position in shares of Rexford Industrial Realty by 6.4% in the second quarter. Caitlin John LLC now owns 6,027 shares of the real estate investment trust’s stock valued at $214,000 after purchasing an additional 361 shares during the period. Federated Hermes Inc. lifted its stake in shares of Rexford Industrial Realty by 2.2% in the first quarter. Federated Hermes Inc. now owns 18,297 shares of the real estate investment trust’s stock worth $716,000 after buying an additional 388 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its stake in shares of Rexford Industrial Realty by 3.3% in the second quarter. Allspring Global Investments Holdings LLC now owns 13,059 shares of the real estate investment trust’s stock valued at $472,000 after buying an additional 423 shares during the period. Institutional investors own 99.52% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently commented on REXR. Wells Fargo & Company lifted their price objective 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. Truist Financial increased their price objective on shares of Rexford Industrial Realty from $44.00 to $45.00 and gave the company a “buy” rating in a report on Wednesday, November 5th. Industrial Alliance Securities set a $42.00 target price on shares of Rexford Industrial Realty in a report on Wednesday. Evercore ISI increased their price target on Rexford Industrial Realty from $39.00 to $40.00 and gave the company an “in-line” rating in a research note on Monday, September 15th. Finally, Wall Street Zen cut Rexford Industrial Realty from a “hold” rating to a “sell” rating in a research note on Saturday, October 18th. Three research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $42.92.

Rexford Industrial Realty Stock Performance

REXR opened at $40.80 on Wednesday. The company has a market capitalization of $9.50 billion, a price-to-earnings ratio of 28.73, a P/E/G ratio of 3.05 and a beta of 1.15. The business’s 50-day moving average price is $41.90 and its two-hundred day moving average price is $38.78. 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.

Rexford Industrial Realty (NYSE:REXR) last posted its quarterly earnings data on Wednesday, October 15th. The real estate investment trust reported $0.60 earnings per share for the quarter, topping the consensus estimate of $0.59 by $0.01. Rexford Industrial Realty had a return on equity of 3.81% and a net margin of 33.88%.The company had revenue of $253.24 million during the quarter, compared to analysts’ expectations of $253.46 million. During the same period in the prior year, the firm earned $0.59 earnings per share. Rexford Industrial Realty’s revenue for the quarter was up 4.7% compared to the same quarter last year. Rexford Industrial Realty has set its FY 2025 guidance at 2.390-2.410 EPS. Equities analysts expect that Rexford Industrial Realty, Inc. will post 2.38 EPS for the current fiscal year.

Rexford Industrial Realty Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 15th. Shareholders of record on Wednesday, December 31st will be paid a $0.43 dividend. This represents a $1.72 annualized dividend and a yield of 4.2%. The ex-dividend date is Wednesday, December 31st. Rexford Industrial Realty’s payout ratio is presently 121.13%.

About Rexford Industrial Realty

Rexford Industrial Realty, Inc is a self-administered and self-managed real estate investment trust, which engages in owning and operating industrial properties in infill markets. The company was founded by Richard S. Ziman on January 18, 2013 and is headquartered in Los Angeles, CA.