Pallas Capital Advisors LLC Invests $267,000 in Rexford Industrial Realty, Inc. $REXR

Key Points

• Pallas Capital Advisors LLC has purchased 7,517 shares in Rexford Industrial Realty, valued at approximately $267,000.
• Rexford's stock currently has an average rating of "Hold" among analysts, with a price target range between $39.00 and $43.00.
• The company announced a quarterly dividend of $0.43, representing a 4.1% yield, with an ex-dividend date set for September 30th.

Pallas Capital Advisors LLC acquired a new stake in Rexford Industrial Realty, Inc. (NYSE:REXR - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 7,517 shares of the real estate investment trust's stock, valued at approximately $267,000.

Several other large investors also recently modified their holdings of the stock. Vanguard Group Inc. raised its position in shares of Rexford Industrial Realty by 2.6% in 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 purchasing an additional 779,095 shares during the period. Price T Rowe Associates Inc. MD raised its stake in Rexford Industrial Realty by 1.7% in the 1st 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 in the last quarter. Massachusetts Financial Services Co. MA raised its stake in Rexford Industrial Realty by 130.2% in the 1st 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 in the last quarter. Centersquare Investment Management LLC raised its stake in Rexford Industrial Realty by 7.0% in the 1st 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 in the last quarter. Finally, JPMorgan Chase & Co. raised its stake in Rexford Industrial Realty by 18.3% in the 1st 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 in the last quarter. 99.52% of the stock is owned by institutional investors.

Rexford Industrial Realty Price Performance

Shares of Rexford Industrial Realty stock traded up $0.20 during midday trading on Monday, hitting $42.18. 3,190,868 shares of the company traded hands, compared to its average volume of 2,889,460. The stock has a market cap of $9.98 billion, a price-to-earnings ratio of 17.64, a PEG ratio of 4.66 and a beta of 1.13. The company has a debt-to-equity ratio of 0.37, a quick ratio of 5.59 and a current ratio of 5.59. The firm's fifty day moving average price is $39.32 and its 200-day moving average price is $37.10. Rexford Industrial Realty, Inc. has a 12 month low of $29.68 and a 12 month high of $52.37.

Rexford Industrial Realty (NYSE:REXR - Get Free Report) last posted its earnings results on Wednesday, July 16th. The real estate investment trust reported $0.59 EPS for the quarter, topping the consensus estimate of $0.58 by $0.01. Rexford Industrial Realty had a net margin of 32.04% and a return on equity of 3.62%. The business had revenue of $241.57 million for the quarter, compared to the consensus estimate of $251.72 million. During the same period last year, the company earned $0.60 EPS. The firm's revenue was up 5.0% compared to the same quarter last year. Rexford Industrial Realty has set its FY 2025 guidance at 2.370-2.410 EPS. As a group, sell-side analysts forecast that Rexford Industrial Realty, Inc. will post 2.38 earnings per share for the current year.

Rexford Industrial Realty Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th will be given a dividend of $0.43 per share. The ex-dividend date is Tuesday, September 30th. This represents a $1.72 annualized dividend and a yield of 4.1%. Rexford Industrial Realty's dividend payout ratio (DPR) is currently 127.41%.

Insider Buying and Selling

In related news, General Counsel David E. Lanzer sold 26,449 shares of Rexford Industrial Realty stock in a transaction that occurred on Monday, July 21st. The shares were sold at an average price of $36.87, for a total transaction of $975,174.63. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 1.20% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on REXR. Mizuho lifted their price objective on shares of Rexford Industrial Realty from $37.00 to $40.00 and gave the stock a "neutral" rating in a research note on Monday, September 8th. Evercore ISI lifted their price objective on shares of Rexford Industrial Realty from $39.00 to $40.00 and gave the stock an "in-line" rating in a research note on Monday, September 15th. Truist Financial lifted their price objective on shares of Rexford Industrial Realty from $37.00 to $42.00 and gave the stock a "buy" rating in a research note on Wednesday, August 20th. Wall Street Zen upgraded shares of Rexford Industrial Realty from a "sell" rating to a "hold" rating in a research note on Saturday. Finally, Industrial Alliance Securities set a $40.00 price objective on shares of Rexford Industrial Realty in a research note on Monday, September 15th. Two equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $41.09.

Rexford Industrial Realty 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.