Natixis Advisors LLC raised its position in Rexford Industrial Realty, Inc. (NYSE:REXR – Free Report) by 3.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 421,375 shares of the real estate investment trust’s stock after buying an additional 14,972 shares during the quarter. Natixis Advisors LLC’s holdings in Rexford Industrial Realty were worth $16,316,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in REXR. V Square Quantitative Management LLC bought a new stake in shares of Rexford Industrial Realty during the 4th quarter valued at $31,000. Vision Financial Markets LLC bought a new stake in shares of Rexford Industrial Realty during the 3rd quarter valued at $33,000. Wiser Advisor Group LLC bought a new stake in shares of Rexford Industrial Realty during the 3rd quarter valued at $34,000. Fideuram Intesa Sanpaolo Private Banking S.P.A. bought a new stake in shares of Rexford Industrial Realty during the 4th quarter valued at $34,000. Finally, Allworth Financial LP lifted its position in shares of Rexford Industrial Realty by 140.3% during the 3rd quarter. Allworth Financial LP now owns 983 shares of the real estate investment trust’s stock valued at $40,000 after acquiring an additional 574 shares during the period. 99.52% of the stock is owned by institutional investors and hedge funds.
Rexford Industrial Realty Price Performance
Shares of REXR stock opened at $34.07 on Friday. The company has a quick ratio of 1.50, a current ratio of 1.50 and a debt-to-equity ratio of 0.38. Rexford Industrial Realty, Inc. has a twelve month low of $32.14 and a twelve month high of $44.38. The company has a market cap of $7.69 billion, a P/E ratio of 36.63, a P/E/G ratio of 1.42 and a beta of 1.21. The business has a fifty day simple moving average of $35.07 and a 200 day simple moving average of $37.55.
Rexford Industrial Realty Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th will be given a dividend of $0.435 per share. This represents a $1.74 annualized dividend and a dividend yield of 5.1%. The ex-dividend date is Tuesday, June 30th. Rexford Industrial Realty’s dividend payout ratio is currently 187.10%.
Insider Buying and Selling at Rexford Industrial Realty
In related news, General Counsel David E. Lanzer sold 33,299 shares of the company’s stock in a transaction on Tuesday, April 28th. The stock was sold at an average price of $35.47, for a total transaction of $1,181,115.53. Following the completion of the sale, the general counsel directly owned 33,299 shares in the company, valued at $1,181,115.53. This represents a 50.00% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Michael S. Frankel sold 23,132 shares of the company’s stock in a transaction on Tuesday, March 17th. The stock was sold at an average price of $35.29, for a total value of $816,328.28. Following the sale, the chief executive officer owned 560,406 shares of the company’s stock, valued at approximately $19,776,727.74. This represents a 3.96% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 1.80% of the stock is owned by corporate insiders.
Analyst Ratings Changes
REXR has been the subject of a number of recent analyst reports. Citigroup cut their target price on Rexford Industrial Realty from $46.00 to $39.00 and set a “neutral” rating for the company in a research report on Friday, February 13th. Zacks Research upgraded shares of Rexford Industrial Realty from a “strong sell” rating to a “hold” rating in a research report on Tuesday, April 28th. Wells Fargo & Company dropped their target price on shares of Rexford Industrial Realty from $45.00 to $44.00 and set an “overweight” rating for the company in a research report on Monday, June 1st. Truist Financial dropped their target price on shares of Rexford Industrial Realty from $40.00 to $38.00 and set a “buy” rating for the company in a research report on Thursday, May 21st. Finally, Scotiabank dropped their target price on shares of Rexford Industrial Realty from $39.00 to $38.00 and set a “sector perform” rating for the company in a research report on Thursday, May 21st. Four equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $41.46.
Read Our Latest Report on REXR
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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