Allianz Asset Management GmbH Purchases 44,127 Shares of Rexford Industrial Realty, Inc. $REXR

Key Points

• Allianz Asset Management GmbH increased its stake in Rexford Industrial Realty by 34.2% during the second quarter, acquiring an additional 44,127 shares, bringing its total ownership to 173,295 shares.
• Rexford Industrial Realty reported $0.60 earnings per share for the most recent quarter, slightly exceeding analyst expectations, while revenue rose to $246.76 million, a 4.7% increase from the previous year.
• The company announced a quarterly dividend of $0.43, with a significant dividend yield of 4.0%, indicating a strong commitment to returning value to shareholders.

Allianz Asset Management GmbH lifted its position in shares of Rexford Industrial Realty, Inc. (NYSE:REXR - Free Report) by 34.2% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 173,295 shares of the real estate investment trust's stock after acquiring an additional 44,127 shares during the quarter. Allianz Asset Management GmbH owned approximately 0.07% of Rexford Industrial Realty worth $6,164,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. GAMMA Investing LLC increased its position in Rexford Industrial Realty by 211.2% in the first quarter. GAMMA Investing LLC now owns 1,441 shares of the real estate investment trust's stock worth $56,000 after purchasing an additional 978 shares during the period. Wealth Enhancement Advisory Services LLC grew its position in shares of Rexford Industrial Realty by 16.9% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 20,667 shares of the real estate investment trust's stock worth $809,000 after buying an additional 2,987 shares during the period. Envestnet Portfolio Solutions Inc. bought a new stake in shares of Rexford Industrial Realty during the first quarter worth approximately $208,000. Oppenheimer Asset Management Inc. lifted its holdings in Rexford Industrial Realty by 40.5% in the first quarter. Oppenheimer Asset Management Inc. now owns 36,792 shares of the real estate investment trust's stock valued at $1,440,000 after buying an additional 10,603 shares during the period. Finally, Moran Wealth Management LLC boosted its stake in Rexford Industrial Realty by 4.0% in the first quarter. Moran Wealth Management LLC now owns 22,620 shares of the real estate investment trust's stock valued at $886,000 after acquiring an additional 868 shares during the last quarter. Institutional investors and hedge funds own 99.52% of the company's stock.

Rexford Industrial Realty Stock Performance

REXR stock opened at $42.94 on Thursday. Rexford Industrial Realty, Inc. has a 1-year low of $29.68 and a 1-year high of $45.34. The company has a current ratio of 2.95, a quick ratio of 5.59 and a debt-to-equity ratio of 0.37. The firm has a market cap of $10.00 billion, a PE ratio of 30.24, a P/E/G ratio of 5.16 and a beta of 1.13. The business's 50-day moving average price is $41.51 and its two-hundred day moving average price is $37.52.

Rexford Industrial Realty (NYSE:REXR - Get Free Report) last announced its quarterly earnings results on Wednesday, October 15th. The real estate investment trust reported $0.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.59 by $0.01. Rexford Industrial Realty had a return on equity of 3.81% and a net margin of 33.88%.The company had revenue of $246.76 million during the quarter, compared to the consensus estimate of $253.46 million. During the same period in the prior year, the company earned $0.59 earnings per share. The company's revenue for the quarter was up 4.7% compared to the same quarter last year. Rexford Industrial Realty has set its FY 2025 guidance at 2.390-2.410 EPS. As a group, research analysts forecast that Rexford Industrial Realty, Inc. will post 2.38 earnings per share for the current year.

Rexford Industrial Realty Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 15th. Stockholders of record on Wednesday, December 31st will be issued a $0.43 dividend. This represents a $1.72 annualized dividend and a dividend yield of 4.0%. The ex-dividend date is Wednesday, December 31st. Rexford Industrial Realty's dividend payout ratio is 121.13%.

Wall Street Analyst Weigh In

Several analysts have commented on REXR shares. Cantor Fitzgerald initiated coverage on shares of Rexford Industrial Realty in a research report on Wednesday, October 1st. They set an "overweight" rating and a $50.00 target price for the company. Industrial Alliance Securities set a $40.00 price objective on Rexford Industrial Realty in a research note on Monday, September 15th. Truist Financial increased their target price on Rexford Industrial Realty from $42.00 to $44.00 and gave the company a "buy" rating in a research note on Wednesday, October 15th. Wall Street Zen cut Rexford Industrial Realty from a "hold" rating to a "sell" rating in a report on Saturday, October 18th. Finally, BNP Paribas Exane restated a "neutral" rating and set a $47.00 target price on shares of Rexford Industrial Realty in a research report on Tuesday. Three research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, Rexford Industrial Realty has a consensus rating of "Hold" and a consensus price target of $41.83.

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.

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