Alliancebernstein L.P. Grows Position in Rexford Industrial Realty, Inc. $REXR

Key Points

• Alliancebernstein L.P. increased its holdings in Rexford Industrial Realty by 20.8% during the first quarter, owning approximately 1.97 million shares valued at $76.97 million.
• Multiple institutional investors, including Vanguard Group and Massachusetts Financial Services, also raised their stakes in Rexford, indicating strong institutional interest in the company.
• Rexford Industrial Realty recently announced a quarterly dividend of $0.43 per share, with a dividend yield of 4.0%, and reported earnings of $0.59 per share, beating estimates by $0.01.

Alliancebernstein L.P. lifted its stake in shares of Rexford Industrial Realty, Inc. (NYSE:REXR - Free Report) by 20.8% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,966,047 shares of the real estate investment trust's stock after acquiring an additional 338,141 shares during the period. Alliancebernstein L.P. owned 0.83% of Rexford Industrial Realty worth $76,971,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. boosted its holdings in Rexford Industrial Realty by 2.6% in the 1st 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 last quarter. Price T Rowe Associates Inc. MD lifted its holdings in Rexford Industrial Realty by 1.7% in the first quarter. Price T Rowe Associates Inc. MD now owns 27,443,472 shares of the real estate investment trust's stock valued at $1,074,413,000 after acquiring an additional 445,743 shares during the last quarter. Massachusetts Financial Services Co. MA grew its position in Rexford Industrial Realty by 130.2% in the first 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 acquiring an additional 4,384,624 shares during the period. Centersquare Investment Management LLC increased its stake in Rexford Industrial Realty by 7.0% during the first quarter. Centersquare Investment Management LLC now owns 4,808,035 shares of the real estate investment trust's stock worth $188,235,000 after acquiring an additional 315,869 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its position in Rexford Industrial Realty by 18.3% in the first quarter. JPMorgan Chase & Co. now owns 3,856,451 shares of the real estate investment trust's stock valued at $150,980,000 after purchasing an additional 595,759 shares during the period. Hedge funds and other institutional investors own 99.52% of the company's stock.

Rexford Industrial Realty Trading Down 0.2%

NYSE:REXR traded down $0.08 on Friday, reaching $43.45. 2,480,491 shares of the company's stock were exchanged, compared to its average volume of 2,790,752. The firm has a market capitalization of $10.28 billion, a price-to-earnings ratio of 32.18, a price-to-earnings-growth ratio of 4.83 and a beta of 1.13. Rexford Industrial Realty, Inc. has a 52-week low of $29.68 and a 52-week high of $52.37. 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 business has a fifty day moving average of $38.66 and a 200-day moving average of $37.08.

Rexford Industrial Realty (NYSE:REXR - Get Free Report) last announced its quarterly earnings data on Wednesday, July 16th. The real estate investment trust reported $0.59 earnings per share for the quarter, beating analysts' consensus estimates 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 analysts' expectations of $251.72 million. During the same quarter in the previous year, the business posted $0.60 earnings per share. The business's quarterly 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, analysts expect 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 declared a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Tuesday, September 30th will be paid a $0.43 dividend. The ex-dividend date is Tuesday, September 30th. This represents a $1.72 annualized dividend and a dividend yield of 4.0%. Rexford Industrial Realty's payout ratio is 127.41%.

Insider Buying and Selling at Rexford Industrial Realty

In other news, General Counsel David E. Lanzer sold 26,449 shares of the stock in a transaction on Monday, July 21st. The stock was sold at an average price of $36.87, for a total value of $975,174.63. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 1.20% of the company's stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on REXR. Scotiabank raised their price objective on Rexford Industrial Realty from $40.00 to $43.00 and gave the stock a "sector perform" rating in a research report on Thursday, September 4th. Wells Fargo & Company dropped their price target on shares of Rexford Industrial Realty from $45.00 to $39.00 and set an "overweight" rating for the company in a research report on Monday, May 19th. Evercore ISI boosted their price target on shares of Rexford Industrial Realty from $38.00 to $39.00 and gave the company an "in-line" rating in a research note on Monday. Mizuho increased 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 report on Monday. Finally, Truist Financial boosted their target price on Rexford Industrial Realty from $37.00 to $42.00 and gave the company a "buy" rating in a research report on Wednesday, August 20th. Two investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $40.55.

Rexford Industrial Realty Company 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.