American Assets Investment Management LLC Buys New Stake in Rexford Industrial Realty, Inc. (NYSE:REXR)

Key Points

• American Assets Investment Management LLC invested approximately $4.08 million in Rexford Industrial Realty, acquiring 104,156 shares in the first quarter.
• A recent analysis indicates that Rexford Industrial Realty's shares have an average rating of "Hold" with a price target of $39.82, reflecting mixed sentiment from various analysts.
• The company recently declared a quarterly dividend of $0.43 per share, which translates to an annualized dividend yield of 4.8% and has a payout ratio of 127.41%.

American Assets Investment Management LLC bought a new position in Rexford Industrial Realty, Inc. (NYSE:REXR - Free Report) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 104,156 shares of the real estate investment trust's stock, valued at approximately $4,078,000.

A number of other hedge funds also recently made changes to their positions in the company. Teacher Retirement System of Texas grew its stake in shares of Rexford Industrial Realty by 198.3% during the first quarter. Teacher Retirement System of Texas now owns 39,028 shares of the real estate investment trust's stock valued at $1,528,000 after buying an additional 25,945 shares during the last quarter. GAMMA Investing LLC boosted its position in Rexford Industrial Realty by 211.2% during the 1st quarter. GAMMA Investing LLC now owns 1,441 shares of the real estate investment trust's stock valued at $56,000 after acquiring an additional 978 shares in the last quarter. M&T Bank Corp lifted its holdings in shares of Rexford Industrial Realty by 1.2% during the 1st quarter. M&T Bank Corp now owns 26,857 shares of the real estate investment trust's stock valued at $1,052,000 after purchasing an additional 317 shares during the last quarter. Bessemer Group Inc. lifted its holdings in shares of Rexford Industrial Realty by 118.4% during the 1st quarter. Bessemer Group Inc. now owns 747 shares of the real estate investment trust's stock valued at $29,000 after purchasing an additional 405 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. raised its stake in Rexford Industrial Realty by 40.5% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 36,792 shares of the real estate investment trust's stock worth $1,440,000 after acquiring an additional 10,603 shares during the last quarter. 99.52% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. Barclays reduced their target price on Rexford Industrial Realty from $38.00 to $35.00 and set an "underweight" rating for the company in a research note on Wednesday, April 30th. Wells Fargo & Company lowered their target price on Rexford Industrial Realty from $45.00 to $39.00 and set an "overweight" rating on the stock in a report on Monday, May 19th. JPMorgan Chase & Co. decreased their price objective on Rexford Industrial Realty from $44.00 to $37.00 and set a "neutral" rating on the stock in a report on Thursday, April 24th. Evercore ISI cut Rexford Industrial Realty from an "outperform" rating to an "in-line" rating and decreased their price target for the stock from $39.00 to $38.00 in a research note on Friday, July 18th. Finally, Truist Financial cut their price objective on Rexford Industrial Realty from $44.00 to $37.00 and set a "buy" rating on the stock in a research report on Thursday, May 1st. Two analysts have rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the company. According to data from MarketBeat, Rexford Industrial Realty presently has a consensus rating of "Hold" and a consensus target price of $39.82.

Insider Buying and Selling at Rexford Industrial Realty

In other Rexford Industrial Realty 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 value of $975,174.63. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.20% of the stock is currently owned by company insiders.

Rexford Industrial Realty Stock Performance

Shares of REXR traded down $0.23 during mid-day trading on Wednesday, hitting $36.72. 2,078,212 shares of the company's stock were exchanged, compared to its average volume of 3,069,390. Rexford Industrial Realty, Inc. has a fifty-two week low of $29.68 and a fifty-two week high of $52.61. The firm has a market capitalization of $8.69 billion, a P/E ratio of 27.20, a P/E/G ratio of 4.10 and a beta of 1.10. The business's 50 day moving average is $36.58 and its two-hundred day moving average is $37.14. The company has a current ratio of 5.59, a quick ratio of 5.59 and a debt-to-equity ratio of 0.37.

Rexford Industrial Realty (NYSE:REXR - Get Free Report) last issued its earnings results on Wednesday, July 16th. The real estate investment trust reported $0.59 earnings per share (EPS) 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 company had revenue of $241.57 million during the quarter, compared to analysts' expectations of $251.72 million. During the same period last year, the company posted $0.60 earnings per share. The firm's quarterly revenue was up 5.0% compared to the same quarter last year. On average, equities 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 disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th will be paid a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a dividend yield of 4.7%. The ex-dividend date of this dividend is Tuesday, September 30th. Rexford Industrial Realty's dividend payout ratio (DPR) is 127.41%.

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.