American Assets Investment Management LLC Purchases Shares of 104,156 Rexford Industrial Realty, Inc. (NYSE:REXR)

Key Points

• American Assets Investment Management LLC invested $4.08 million in Rexford Industrial Realty, Inc. by acquiring 104,156 shares, marking it as their 24th largest holding.
• Massachusetts Financial Services Co. MA recently increased its stake in Rexford Industrial Realty by 130.2%, making it a significant player with approximately $303.5 million in shares.
• Rexford Industrial Realty announced a quarterly dividend of $0.43 per share, with a dividend yield of 4.62%, despite a payout ratio of 127.41%.

American Assets Investment Management LLC purchased a new position in Rexford Industrial Realty, Inc. (NYSE:REXR - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 104,156 shares of the real estate investment trust's stock, valued at approximately $4,078,000. Rexford Industrial Realty makes up approximately 1.7% of American Assets Investment Management LLC's portfolio, making the stock its 24th largest position.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Massachusetts Financial Services Co. MA grew its position in shares of 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 valued at $303,488,000 after purchasing an additional 4,384,624 shares in the last quarter. Rush Island Management LP purchased a new position in shares of Rexford Industrial Realty in the fourth quarter valued at $132,701,000. Norges Bank purchased a new position in shares of Rexford Industrial Realty in the fourth quarter valued at $104,685,000. Long Pond Capital LP purchased a new position in shares of Rexford Industrial Realty in the fourth quarter valued at $58,595,000. Finally, Northern Trust Corp grew its position in shares of Rexford Industrial Realty by 94.3% in the fourth quarter. Northern Trust Corp now owns 3,104,624 shares of the real estate investment trust's stock valued at $120,025,000 after purchasing an additional 1,506,779 shares in the last quarter. Institutional investors own 99.52% of the company's stock.

Insider Activity at Rexford Industrial Realty

In related news, General Counsel David E. Lanzer sold 26,449 shares of Rexford Industrial Realty 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 document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.20% of the stock is owned by insiders.

Rexford Industrial Realty Stock Up 0.9%

Shares of REXR stock traded up $0.33 during mid-day trading on Monday, hitting $36.25. The company's stock had a trading volume of 453,705 shares, compared to its average volume of 2,614,239. Rexford Industrial Realty, Inc. has a 52-week low of $29.68 and a 52-week high of $52.61. The business has a 50-day moving average price of $36.51 and a 200 day moving average price of $37.18. The company has a debt-to-equity ratio of 0.37, a quick ratio of 5.59 and a current ratio of 5.59. The stock has a market cap of $8.58 billion, a price-to-earnings ratio of 26.83, a PEG ratio of 3.99 and a beta of 1.10.

Rexford Industrial Realty (NYSE:REXR - Get Free Report) last posted its quarterly earnings results on Wednesday, July 16th. The real estate investment trust reported $0.59 earnings per share for the quarter, topping the consensus estimate of $0.58 by $0.01. Rexford Industrial Realty had a return on equity of 3.62% and a net margin of 32.04%. 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 earned $0.60 earnings per share. The company's revenue was up 5.0% on a year-over-year basis. Research analysts predict that Rexford Industrial Realty, Inc. will post 2.38 EPS for the current fiscal year.

Rexford Industrial Realty Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th will be issued a $0.43 dividend. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $1.72 annualized dividend and a dividend yield of 4.7%. Rexford Industrial Realty's payout ratio is presently 127.41%.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on REXR shares. Truist Financial dropped their price objective on 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. Evercore ISI cut Rexford Industrial Realty from an "outperform" rating to an "in-line" rating and dropped their target price for the company from $39.00 to $38.00 in a report on Friday, July 18th. Barclays dropped their target price on Rexford Industrial Realty from $38.00 to $35.00 and set an "underweight" rating for the company in a report on Wednesday, April 30th. Scotiabank dropped their price objective on Rexford Industrial Realty from $39.00 to $37.00 and set a "sector perform" rating for the company in a report on Monday, May 12th. Finally, JPMorgan Chase & Co. decreased their target price on 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. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $39.82.

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.