8,293 Shares in Rexford Industrial Realty, Inc. (NYSE:REXR) Acquired by Jefferies Financial Group Inc.

Key Points

• Jefferies Financial Group Inc. acquired a new stake in Rexford Industrial Realty, purchasing 8,293 shares valued at approximately $325,000.
• Rexford Industrial Realty recently announced a quarterly dividend of $0.43 per share, contributing to an annualized dividend yield of 4.7%.
• Analysts have mixed ratings on Rexford, with a consensus price target of $39.82, while Barclays and Scotiabank have both lowered their price targets recently.

Jefferies Financial Group Inc. acquired a new position in shares of Rexford Industrial Realty, Inc. (NYSE:REXR - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 8,293 shares of the real estate investment trust's stock, valued at approximately $325,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Utah Retirement Systems raised its position in Rexford Industrial Realty by 0.8% during the fourth quarter. Utah Retirement Systems now owns 36,000 shares of the real estate investment trust's stock worth $1,392,000 after acquiring an additional 300 shares during the last quarter. M&T Bank Corp raised its position in Rexford Industrial Realty by 1.2% during the first quarter. M&T Bank Corp now owns 26,857 shares of the real estate investment trust's stock worth $1,052,000 after acquiring an additional 317 shares during the last quarter. Private Trust Co. NA raised its position in Rexford Industrial Realty by 95.6% during the first quarter. Private Trust Co. NA now owns 757 shares of the real estate investment trust's stock worth $30,000 after acquiring an additional 370 shares during the last quarter. Federated Hermes Inc. raised its position in Rexford Industrial Realty by 2.2% during the first quarter. Federated Hermes Inc. now owns 18,297 shares of the real estate investment trust's stock worth $716,000 after acquiring an additional 388 shares during the last quarter. Finally, Bessemer Group Inc. raised its position in Rexford Industrial Realty by 118.4% during the first quarter. Bessemer Group Inc. now owns 747 shares of the real estate investment trust's stock worth $29,000 after acquiring an additional 405 shares during the last quarter. Hedge funds and other institutional investors own 99.52% of the company's stock.

Insider Buying and Selling

In related news, General Counsel David E. Lanzer sold 26,449 shares of the company's 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.20% of the company's stock.

Rexford Industrial Realty Trading Up 0.5%

Shares of NYSE:REXR traded up $0.20 during trading on Tuesday, reaching $36.61. The stock had a trading volume of 262,877 shares, compared to its average volume of 2,594,331. The business has a fifty day moving average price of $36.67 and a 200-day moving average price of $37.03. The company has a quick ratio of 5.59, a current ratio of 5.59 and a debt-to-equity ratio of 0.37. The stock has a market cap of $8.66 billion, a P/E ratio of 27.14, a PEG ratio of 4.08 and a beta of 1.10. Rexford Industrial Realty, Inc. has a fifty-two week low of $29.68 and a fifty-two week high of $52.61.

Rexford Industrial Realty (NYSE:REXR - Get Free Report) last issued its quarterly 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 firm had revenue of $241.57 million during the quarter, compared to analyst estimates of $251.72 million. During the same quarter in the prior year, the business posted $0.60 earnings per share. Rexford Industrial Realty's revenue for the quarter was up 5.0% compared to the same quarter last year. As a group, analysts anticipate that Rexford Industrial Realty, Inc. will post 2.38 earnings per share for the current fiscal year.

Rexford Industrial Realty Dividend Announcement

The business also recently declared 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 of this dividend is Tuesday, September 30th. This represents a $1.72 annualized dividend and a yield of 4.7%. Rexford Industrial Realty's dividend payout ratio is 127.41%.

Analyst Ratings Changes

REXR has been the subject of a number of research reports. Robert W. Baird set a $43.00 target price on shares of Rexford Industrial Realty in a research report on Tuesday, May 6th. Barclays cut their target price on shares of Rexford Industrial Realty from $38.00 to $35.00 and set an "underweight" rating for the company in a research report on Wednesday, April 30th. JPMorgan Chase & Co. cut their target price on shares of Rexford Industrial Realty from $44.00 to $37.00 and set a "neutral" rating for the company in a research report on Thursday, April 24th. Truist Financial cut their target price on shares of Rexford Industrial Realty from $44.00 to $37.00 and set a "buy" rating for the company in a research report on Thursday, May 1st. Finally, Scotiabank cut their price objective on shares of Rexford Industrial Realty from $39.00 to $37.00 and set a "sector perform" rating for the company in a research report on Monday, May 12th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the company's stock. According to MarketBeat, Rexford Industrial Realty currently has a consensus rating of "Hold" and a consensus target price of $39.82.

About Rexford Industrial Realty

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.