75,217 Shares in Rexford Industrial Realty, Inc. $REXR Acquired by Westpac Banking Corp

Key Points

• Westpac Banking Corp acquired 75,217 shares of Rexford Industrial Realty during the second quarter, valued at approximately $2.52 million. Institutional investors now own 99.52% of the REIT.
• Analyst sentiment is mixed, with five Buy, six Hold and four Sell ratings. The consensus rating is “Hold,” with an average price target of $40.93.
• Rexford reported quarterly EPS of negative $2.26, missing estimates by $2.86, while revenue reached $243 million. The company declared a quarterly dividend of $0.435 per share, representing a 4.7% annualized yield.

Westpac Banking Corp bought a new position in shares of Rexford Industrial Realty, Inc. (NYSE:REXR - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 75,217 shares of the real estate investment trust's stock, valued at approximately $2,520,000.

A number of other hedge funds have also modified their holdings of REXR. Lazard Asset Management LLC raised its position in shares of Rexford Industrial Realty by 1.0% during the 2nd quarter. Lazard Asset Management LLC now owns 35,475 shares of the real estate investment trust's stock valued at $1,261,000 after purchasing an additional 362 shares during the period. IFM Investors Pty Ltd raised its holdings in Rexford Industrial Realty by 1.0% during the first quarter. IFM Investors Pty Ltd now owns 38,360 shares of the real estate investment trust's stock valued at $1,256,000 after acquiring an additional 370 shares during the period. Rockefeller Capital Management L.P. lifted its position in shares of Rexford Industrial Realty by 8.6% in the fourth quarter. Rockefeller Capital Management L.P. now owns 4,878 shares of the real estate investment trust's stock valued at $189,000 after acquiring an additional 387 shares in the last quarter. Koa Wealth Management LLC lifted its position in shares of Rexford Industrial Realty by 0.9% in the first quarter. Koa Wealth Management LLC now owns 46,268 shares of the real estate investment trust's stock valued at $1,514,000 after acquiring an additional 408 shares in the last quarter. Finally, EverSource Wealth Advisors LLC boosted its stake in shares of Rexford Industrial Realty by 13.1% in the first quarter. EverSource Wealth Advisors LLC now owns 3,804 shares of the real estate investment trust's stock worth $125,000 after acquiring an additional 441 shares during the period. 99.52% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages recently issued reports on REXR. Evercore reissued an "outperform" rating on shares of Rexford Industrial Realty in a research note on Monday, July 27th. Truist Financial dropped their price target on Rexford Industrial Realty from $40.00 to $38.00 and set a "buy" rating for the company in a research note on Thursday, May 21st. Cantor Fitzgerald reaffirmed an "overweight" rating on shares of Rexford Industrial Realty in a report on Monday, July 27th. Scotiabank reiterated an "outperform" rating on shares of Rexford Industrial Realty in a research report on Wednesday, August 12th. Finally, Barclays lowered their target price on shares of Rexford Industrial Realty from $40.00 to $36.00 and set an "underweight" rating on the stock in a report on Thursday, July 16th. Five investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and four have issued a Sell rating to the stock. According to MarketBeat, Rexford Industrial Realty has an average rating of "Hold" and an average target price of $40.93.

Rexford Industrial Realty Price Performance

NYSE:REXR opened at $37.19 on Friday. The firm has a market capitalization of $8.29 billion, a price-to-earnings ratio of -20.55, a PEG ratio of 1.54 and a beta of 1.19. Rexford Industrial Realty, Inc. has a 1 year low of $32.14 and a 1 year high of $44.38. The business has a 50 day simple moving average of $35.74 and a 200-day simple moving average of $35.74. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.70 and a quick ratio of 1.70.

Rexford Industrial Realty (NYSE:REXR - Get Free Report) last released its earnings results on Thursday, July 23rd. The real estate investment trust reported ($2.26) earnings per share for the quarter, missing the consensus estimate of $0.60 by ($2.86). Rexford Industrial Realty had a negative net margin of 39.22% and a negative return on equity of 4.61%. The company had revenue of $243.00 million for the quarter, compared to the consensus estimate of $240.24 million. During the same period in the prior year, the firm posted $0.59 EPS. The business's revenue for the quarter was down 1.6% compared to the same quarter last year. Rexford Industrial Realty has set its FY 2026 guidance at 2.380-2.430 EPS. Equities analysts forecast that Rexford Industrial Realty, Inc. will post 2.4 EPS for the current year.

Rexford Industrial Realty Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Wednesday, September 30th will be paid a dividend of $0.435 per share. This represents a $1.74 annualized dividend and a yield of 4.7%. The ex-dividend date of this dividend is Wednesday, September 30th. Rexford Industrial Realty's payout ratio is presently -96.13%.

Rexford Industrial Realty Company 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source