Paralel Advisors LLC acquired a new stake in shares of Rexford Industrial Realty, Inc. (NYSE:REXR – Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 40,000 shares of the real estate investment trust’s stock, valued at approximately $1,340,000.
Several other large investors have also recently bought and sold shares of REXR. BlackRock Inc. bought a new position in shares of Rexford Industrial Realty during the second quarter worth $1,293,168,000. Price T Rowe Associates Inc. MD raised its stake in Rexford Industrial Realty by 2.4% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 28,336,003 shares of the real estate investment trust’s stock worth $1,097,172,000 after buying an additional 667,594 shares during the period. State Street Corp lifted its holdings in Rexford Industrial Realty by 4.9% during the second quarter. State Street Corp now owns 11,906,613 shares of the real estate investment trust’s stock worth $428,509,000 after acquiring an additional 556,810 shares in the last quarter. Principal Financial Group Inc. grew its stake in Rexford Industrial Realty by 19.5% in the fourth quarter. Principal Financial Group Inc. now owns 11,518,739 shares of the real estate investment trust’s stock valued at $446,006,000 after acquiring an additional 1,881,905 shares during the period. Finally, Soroban Capital Partners LP increased its holdings in shares of Rexford Industrial Realty by 57.2% in the second quarter. Soroban Capital Partners LP now owns 9,191,038 shares of the real estate investment trust’s stock worth $326,925,000 after acquiring an additional 3,344,677 shares in the last quarter. Institutional investors own 99.52% of the company’s stock.
Rexford Industrial Realty Price Performance
Shares of REXR opened at $37.11 on Friday. The company has a current ratio of 1.70, a quick ratio of 1.70 and a debt-to-equity ratio of 0.42. The company’s fifty day simple moving average is $35.69 and its 200 day simple moving average is $35.73. Rexford Industrial Realty, Inc. has a 1-year low of $32.14 and a 1-year high of $44.38. The company has a market cap of $8.28 billion, a price-to-earnings ratio of -20.50, a PEG ratio of 1.56 and a beta of 1.19.
Rexford Industrial Realty Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Wednesday, September 30th will be issued a dividend of $0.435 per share. The ex-dividend date of this dividend is Wednesday, September 30th. This represents a $1.74 annualized dividend and a dividend yield of 4.7%. Rexford Industrial Realty’s dividend payout ratio (DPR) is currently -96.13%.
Wall Street Analyst Weigh In
Several research firms have recently weighed in on REXR. Mizuho lifted their price objective on Rexford Industrial Realty from $35.00 to $38.00 and gave the company a “neutral” rating in a report on Wednesday. Raymond James Financial reaffirmed an “underperform” rating on shares of Rexford Industrial Realty in a research note on Wednesday. Jefferies Financial Group downgraded shares of Rexford Industrial Realty from a “buy” rating to a “hold” rating and set a $40.00 price objective for the company. in a research report on Thursday, August 6th. Weiss Ratings lowered shares of Rexford Industrial Realty from a “hold (c)” rating to a “sell (d)” rating in a report on Wednesday, July 29th. Finally, Evercore reaffirmed an “outperform” rating on shares of Rexford Industrial Realty in a research report on Monday, July 27th. Five analysts have rated the stock with a Buy rating, six have issued a Hold rating and four have issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $40.93.
Check Out Our Latest Stock 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.
Read More
- Five stocks we like better than Rexford Industrial Realty
- 3 Energy Stocks Raising Dividends as the Sector Surges
- 5 Reasons the S&P 500 Could Keep Rallying Through Year-End
- Walmart’s Post-Earnings Drop Could Be a Buying Opportunity
- The Trade Desk’s Earnings Miss Raises a Bigger Question About Its AI Future
Want to see what other hedge funds are holding REXR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Rexford Industrial Realty, Inc. (NYSE:REXR – Free Report).
Receive News & Ratings for Rexford Industrial Realty Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Rexford Industrial Realty and related companies with MarketBeat.com's FREE daily email newsletter.
