SummitTX Capital L.P. acquired a new position in Rexford Industrial Realty, Inc. (NYSE:REXR – Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 38,730 shares of the real estate investment trust’s stock, valued at approximately $1,268,000.
Several other institutional investors have also added to or reduced their stakes in REXR. Royal Bank of Canada grew its stake in shares of Rexford Industrial Realty by 3.5% during the first quarter. Royal Bank of Canada now owns 251,550 shares of the real estate investment trust’s stock valued at $9,849,000 after buying an additional 8,506 shares during the last quarter. AQR Capital Management LLC lifted its stake in shares of Rexford Industrial Realty by 309.8% during the 1st quarter. AQR Capital Management LLC now owns 118,245 shares of the real estate investment trust’s stock worth $4,628,000 after acquiring an additional 89,390 shares during the last quarter. Goldman Sachs Group Inc. lifted its stake in shares of Rexford Industrial Realty by 41.0% during 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. Cetera Investment Advisers boosted its holdings in Rexford Industrial Realty by 52.7% during the 2nd quarter. Cetera Investment Advisers now owns 16,956 shares of the real estate investment trust’s stock valued at $603,000 after acquiring an additional 5,854 shares during the period. Finally, EverSource Wealth Advisors LLC boosted its holdings in Rexford Industrial Realty by 131.6% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,252 shares of the real estate investment trust’s stock valued at $116,000 after acquiring an additional 1,848 shares during the period. Institutional investors own 99.52% of the company’s stock.
Rexford Industrial Realty Stock Down 0.3%
Shares of NYSE:REXR opened at $38.62 on Thursday. Rexford Industrial Realty, Inc. has a 52-week low of $32.14 and a 52-week high of $44.38. The stock has a market cap of $8.72 billion, a P/E ratio of -21.34, a price-to-earnings-growth ratio of 1.61 and a beta of 1.21. The business’s 50 day moving average is $35.13 and its 200 day moving average is $36.10. The company has a quick ratio of 1.50, a current ratio of 1.70 and a debt-to-equity ratio of 0.42.
Rexford Industrial Realty Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Wednesday, September 30th will be paid a dividend of $0.435 per share. The ex-dividend date is Wednesday, September 30th. This represents a $1.74 annualized dividend and a dividend yield of 4.5%. Rexford Industrial Realty’s dividend payout ratio (DPR) is currently -96.13%.
Wall Street Analyst Weigh In
Several equities analysts have commented on REXR shares. Truist Financial cut their price objective on Rexford Industrial Realty from $40.00 to $38.00 and set a “buy” rating on the stock in a research report on Thursday, May 21st. Mizuho decreased their target price on Rexford Industrial Realty from $38.00 to $35.00 and set a “neutral” rating for the company in a research report on Wednesday, June 10th. JPMorgan Chase & Co. cut shares of Rexford Industrial Realty from a “neutral” rating to an “underweight” rating and cut their price target for the stock from $38.00 to $36.00 in a report on Wednesday, June 17th. Wells Fargo & Company cut their price target on shares of Rexford Industrial Realty from $45.00 to $44.00 and set an “overweight” rating on the stock in a report on Monday, June 1st. Finally, Wall Street Zen downgraded shares of Rexford Industrial Realty from a “hold” rating to a “sell” rating in a research note on Monday, July 20th. Five investment analysts have rated the stock with a Buy rating, six have given a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat, Rexford Industrial Realty has a consensus rating of “Hold” and an average target price of $40.38.
Get Our Latest Research Report on Rexford Industrial Realty
Rexford Industrial Realty Profile
Rexford Industrial Realty, Inc (NYSE: REXR) is a real estate investment trust (REIT) specializing in the acquisition, ownership and operation of industrial properties in Southern California. The company’s portfolio is concentrated in infill locations across key supply-chain markets, where it targets modern distribution centers, logistics facilities and light manufacturing spaces. Rexford’s strategy emphasizes buildings that offer proximity to major transportation routes and labor pools, catering to tenants in e-commerce, third-party logistics and manufacturing industries.
Since its founding in 2013, Rexford Industrial Realty has executed a disciplined growth plan driven by property acquisitions, selective development projects and strategic value-add initiatives.
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