Wolverine Asset Management LLC Boosts Stock Holdings in Rexford Industrial Realty, Inc. $REXR

Wolverine Asset Management LLC grew its position in shares of Rexford Industrial Realty, Inc. (NYSE:REXR) by 291.4% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 24,233 shares of the real estate investment trust’s stock after buying an additional 18,042 shares during the quarter. Wolverine Asset Management LLC’s holdings in Rexford Industrial Realty were worth $862,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in shares of Rexford Industrial Realty by 2.6% during the first quarter. Vanguard Group Inc. now owns 30,711,076 shares of the real estate investment trust’s stock valued at $1,202,339,000 after buying an additional 779,095 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in Rexford Industrial Realty by 1.7% in the first quarter. Price T Rowe Associates Inc. MD now owns 27,443,472 shares of the real estate investment trust’s stock worth $1,074,413,000 after purchasing an additional 445,743 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its holdings 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 purchasing an additional 4,384,624 shares during the last quarter. Centersquare Investment Management LLC boosted its holdings in Rexford Industrial Realty by 7.0% in the first quarter. Centersquare Investment Management LLC now owns 4,808,035 shares of the real estate investment trust’s stock worth $188,235,000 after purchasing an additional 315,869 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its holdings in Rexford Industrial Realty by 18.3% in the first quarter. JPMorgan Chase & Co. now owns 3,856,451 shares of the real estate investment trust’s stock worth $150,980,000 after purchasing an additional 595,759 shares during the last quarter. Hedge funds and other institutional investors own 99.52% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on REXR. Wells Fargo & Company raised their target price on shares of Rexford Industrial Realty from $40.00 to $47.00 and gave the stock an “overweight” rating in a report on Monday, October 27th. Wall Street Zen cut shares of Rexford Industrial Realty from a “hold” rating to a “sell” rating in a report on Saturday, October 18th. Scotiabank raised their target price on shares of Rexford Industrial Realty from $40.00 to $43.00 and gave the stock a “sector perform” rating in a report on Thursday, September 4th. Mizuho raised their target price on shares of Rexford Industrial Realty from $37.00 to $40.00 and gave the stock a “neutral” rating in a report on Monday, September 8th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Rexford Industrial Realty in a report on Wednesday, October 8th. 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 stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $42.50.

Rexford Industrial Realty Stock Up 0.0%

REXR opened at $41.30 on Friday. The company has a current ratio of 2.95, a quick ratio of 2.95 and a debt-to-equity ratio of 0.37. Rexford Industrial Realty, Inc. has a 1-year low of $29.68 and a 1-year high of $44.38. The company has a market capitalization of $9.62 billion, a PE ratio of 29.09, a PEG ratio of 3.05 and a beta of 1.13. The firm’s 50 day simple moving average is $41.96 and its two-hundred day simple moving average is $38.04.

Rexford Industrial Realty (NYSE:REXR) last released its quarterly earnings results 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 net margin of 33.88% and a return on equity of 3.81%. The business had revenue of $246.76 million for the quarter, compared to the consensus estimate of $253.46 million. During the same period last year, the firm earned $0.59 earnings per share. The company’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. As a group, equities analysts forecast that Rexford Industrial Realty, Inc. will post 2.38 EPS for the current 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 given a $0.43 dividend. The ex-dividend date is Wednesday, December 31st. This represents a $1.72 annualized dividend and a yield of 4.2%. Rexford Industrial Realty’s dividend payout ratio (DPR) 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.