Assetmark Inc. Raises Position in Rexford Industrial Realty, Inc. $REXR

Assetmark Inc. lifted its stake in shares of Rexford Industrial Realty, Inc. (NYSE:REXR) by 449.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 29,234 shares of the real estate investment trust’s stock after purchasing an additional 23,914 shares during the period. Assetmark Inc.’s holdings in Rexford Industrial Realty were worth $1,040,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the stock. Massachusetts Financial Services Co. MA increased its position in Rexford Industrial Realty by 130.2% in the first quarter. Massachusetts Financial Services Co. MA now owns 7,751,922 shares of the real estate investment trust’s stock worth $303,488,000 after buying an additional 4,384,624 shares during the last quarter. Nuveen LLC purchased a new stake in Rexford Industrial Realty in the 1st quarter worth about $146,155,000. Vanguard Group Inc. increased its holdings in Rexford Industrial Realty by 2.6% in the 1st quarter. Vanguard Group Inc. now owns 30,711,076 shares of the real estate investment trust’s stock worth $1,202,339,000 after acquiring an additional 779,095 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in Rexford Industrial Realty by 18.3% in the 1st quarter. JPMorgan Chase & Co. now owns 3,856,451 shares of the real estate investment trust’s stock worth $150,980,000 after acquiring an additional 595,759 shares during the last quarter. Finally, Goldman Sachs Group Inc. increased its holdings in Rexford Industrial Realty by 41.0% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,811,775 shares of the real estate investment trust’s stock worth $70,931,000 after acquiring an additional 526,877 shares during the last quarter. Hedge funds and other institutional investors own 99.52% of the company’s stock.

Rexford Industrial Realty Stock Down 0.0%

REXR opened at $41.35 on Thursday. The company has a fifty day moving average price of $42.00 and a 200-day moving average price of $38.23. The firm has a market capitalization of $9.63 billion, a P/E ratio of 29.12, a price-to-earnings-growth ratio of 3.05 and a beta of 1.13. 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, Inc. has a one year low of $29.68 and a one year high of $44.38.

Rexford Industrial Realty (NYSE:REXR) last posted its earnings results on Wednesday, October 15th. The real estate investment trust reported $0.60 EPS 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 business had revenue of $246.76 million during the quarter, compared to analysts’ expectations of $253.46 million. During the same period in the previous year, the business earned $0.59 earnings per share. The firm’s revenue was up 4.7% on a year-over-year basis. Rexford Industrial Realty has set its FY 2025 guidance at 2.390-2.410 EPS. Equities research analysts expect that Rexford Industrial Realty, Inc. will post 2.38 earnings per share for the current fiscal year.

Rexford Industrial Realty Announces Dividend

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

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. Wolfe Research downgraded shares of Rexford Industrial Realty from an “outperform” rating to a “peer perform” rating in a research note on Monday, October 20th. BNP Paribas Exane reiterated a “neutral” rating and issued a $47.00 price objective on shares of Rexford Industrial Realty in a research note on Tuesday, October 21st. Wells Fargo & Company lifted their price objective on shares of Rexford Industrial Realty from $40.00 to $47.00 and gave the company an “overweight” rating in a research note on Monday, October 27th. Mizuho lifted their price objective on shares of Rexford Industrial Realty from $37.00 to $40.00 and gave the company a “neutral” rating in a research note on Monday, September 8th. Finally, Cantor Fitzgerald initiated coverage on Rexford Industrial Realty in a research report on Wednesday, October 1st. They issued an “overweight” rating and a $50.00 price target for the company. Three equities research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Rexford Industrial Realty presently has a consensus rating of “Hold” and a consensus target price of $42.58.

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.