American Assets Investment Management LLC Buys New Shares 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 acquired a new stake in Rexford Industrial Realty, Inc. (NYSE:REXR - Free Report) in the 1st quarter, according to the company in its most recent filing with the SEC. The fund acquired 104,156 shares of the real estate investment trust's stock, valued at approximately $4,078,000.

Several other institutional investors have also recently bought and sold shares of the business. MassMutual Private Wealth & Trust FSB grew its stake in shares of Rexford Industrial Realty by 332.9% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 736 shares of the real estate investment trust's stock worth $29,000 after purchasing an additional 566 shares during the period. Bessemer Group Inc. lifted its holdings in shares of Rexford Industrial Realty by 118.4% in the first 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 in the last quarter. Private Trust Co. NA boosted its position in shares of 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 buying an additional 370 shares during the period. GAMMA Investing LLC grew its holdings in shares of Rexford Industrial Realty by 211.2% in 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. Finally, Avalon Trust Co bought a new position in shares of Rexford Industrial Realty in the 1st quarter valued at about $66,000. Institutional investors own 99.52% of the company's stock.

Rexford Industrial Realty Price Performance

Shares of NYSE REXR traded down $0.24 during midday trading on Friday, reaching $36.73. The company's stock had a trading volume of 2,108,764 shares, compared to its average volume of 3,052,349. The company has a debt-to-equity ratio of 0.37, a quick ratio of 5.59 and a current ratio of 5.59. Rexford Industrial Realty, Inc. has a fifty-two week low of $29.68 and a fifty-two week high of $52.61. The business's 50 day moving average price is $36.65 and its two-hundred day moving average price is $37.10. The company has a market cap of $8.69 billion, a P/E ratio of 27.21, a P/E/G ratio of 4.11 and a beta of 1.10.

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 (EPS) for the quarter, beating analysts' consensus estimates of $0.58 by $0.01. The business had revenue of $241.57 million for the quarter, compared to analysts' expectations of $251.72 million. Rexford Industrial Realty had a net margin of 32.04% and a return on equity of 3.62%. The firm's quarterly revenue was up 5.0% compared to the same quarter last year. During the same period last year, the firm posted $0.60 earnings per share. On average, analysts forecast that Rexford Industrial Realty, Inc. will post 2.38 EPS for the current fiscal year.

Rexford Industrial Realty Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders 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 payout ratio is presently 127.41%.

Insider Buying and Selling at Rexford Industrial Realty

In related news, General Counsel David E. Lanzer sold 26,449 shares of the business's stock in a transaction on Monday, July 21st. The shares were 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 accessible through this link. Insiders own 1.20% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. Wells Fargo & Company cut their target price on shares of Rexford Industrial Realty from $45.00 to $39.00 and set an "overweight" rating for the company in a research note on Monday, May 19th. 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 note on Thursday, May 1st. Scotiabank cut their target price on shares of Rexford Industrial Realty from $39.00 to $37.00 and set a "sector perform" rating for the company in a research note on Monday, May 12th. 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 note on Thursday, April 24th. Finally, Evercore ISI downgraded shares of Rexford Industrial Realty from an "outperform" rating to an "in-line" rating and cut their price objective for the stock from $39.00 to $38.00 in a research report on Friday, July 18th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target 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.