Rexford Industrial Realty, Inc. $REXR Shares Purchased by Legal & General Group Plc

Legal & General Group Plc increased its stake in Rexford Industrial Realty, Inc. (NYSE:REXR) by 17.3% in the 2nd quarter, Holdings Channel.com reports. The fund owned 2,334,520 shares of the real estate investment trust’s stock after acquiring an additional 344,312 shares during the quarter. Legal & General Group Plc’s holdings in Rexford Industrial Realty were worth $83,039,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in REXR. Northwestern Mutual Wealth Management Co. grew its position in shares of Rexford Industrial Realty by 403.6% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 690 shares of the real estate investment trust’s stock valued at $27,000 after purchasing an additional 553 shares during the period. Caitong International Asset Management Co. Ltd lifted its stake in Rexford Industrial Realty by 280.7% in the 1st quarter. Caitong International Asset Management Co. Ltd now owns 1,085 shares of the real estate investment trust’s stock valued at $42,000 after buying an additional 800 shares in the last quarter. Hantz Financial Services Inc. lifted its stake in Rexford Industrial Realty by 2,331.7% in 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. Avalon Trust Co acquired a new stake in Rexford Industrial Realty in the 1st quarter worth about $66,000. Finally, CWM LLC increased its stake in Rexford Industrial Realty by 106.5% during the 1st quarter. CWM LLC now owns 4,221 shares of the real estate investment trust’s stock worth $165,000 after buying an additional 2,177 shares in the last quarter. 99.52% of the stock is owned by hedge funds and other institutional investors.

Rexford Industrial Realty Stock Performance

Shares of Rexford Industrial Realty stock opened at $41.40 on Wednesday. The business’s 50 day moving average price is $41.67 and its 200 day moving average price is $39.02. The company has a market cap of $9.64 billion, a price-to-earnings ratio of 29.15, a PEG ratio of 3.05 and a beta of 1.15. The company has a debt-to-equity ratio of 0.37, a quick ratio of 2.95 and a current 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 issued its earnings results on Wednesday, October 15th. The real estate investment trust reported $0.60 earnings per share (EPS) for the quarter, beating 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 business earned $0.59 EPS. The firm’s quarterly 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. On average, research analysts predict that Rexford Industrial Realty, Inc. will post 2.38 EPS for the current year.

Rexford Industrial Realty Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 15th. Investors of record on Wednesday, December 31st will be given a dividend of $0.43 per share. 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 dividend payout ratio (DPR) is presently 121.13%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on REXR. BNP Paribas downgraded Rexford Industrial Realty to a “hold” rating in a research report on Tuesday, October 21st. Truist Financial increased 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. Wolfe Research lowered Rexford Industrial Realty from an “outperform” rating to a “peer perform” rating in a report on Monday, October 20th. Cantor Fitzgerald assumed coverage on shares of Rexford Industrial Realty in a research note on Wednesday, October 1st. They set an “overweight” rating and a $50.00 target price on the stock. Finally, Evercore ISI upped their target price on shares of Rexford Industrial Realty from $40.00 to $42.00 and gave the stock an “in-line” rating in a report on Wednesday, November 19th. Three research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $43.08.

Rexford Industrial Realty Company Profile

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.