104,156 Shares in Rexford Industrial Realty, Inc. (NYSE:REXR) Acquired by American Assets Investment Management LLC

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 acquired a new stake in shares of Rexford Industrial Realty, Inc. (NYSE:REXR - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 104,156 shares of the real estate investment trust's stock, valued at approximately $4,078,000. Rexford Industrial Realty makes up about 1.7% of American Assets Investment Management LLC's investment portfolio, making the stock its 24th largest position.

Several other large investors also recently made changes to their positions in REXR. Teacher Retirement System of Texas boosted its holdings 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 worth $1,528,000 after purchasing an additional 25,945 shares during the period. GAMMA Investing LLC boosted its holdings in shares of Rexford Industrial Realty by 211.2% during 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. M&T Bank Corp boosted its holdings in shares of Rexford Industrial Realty by 1.2% during the first quarter. M&T Bank Corp now owns 26,857 shares of the real estate investment trust's stock worth $1,052,000 after purchasing an additional 317 shares during the period. Bessemer Group Inc. boosted its holdings in shares of Rexford Industrial Realty by 118.4% during the first quarter. Bessemer Group Inc. now owns 747 shares of the real estate investment trust's stock worth $29,000 after purchasing an additional 405 shares during the period. Finally, Oppenheimer Asset Management Inc. boosted its holdings in shares of Rexford Industrial Realty by 40.5% during the first quarter. Oppenheimer Asset Management Inc. now owns 36,792 shares of the real estate investment trust's stock worth $1,440,000 after purchasing an additional 10,603 shares during the period. Institutional investors own 99.52% of the company's stock.

Insiders Place Their Bets

In other Rexford Industrial Realty news, General Counsel David E. Lanzer sold 26,449 shares of Rexford Industrial Realty stock in a transaction on Monday, July 21st. The shares were sold at an average price of $36.87, for a total transaction of $975,174.63. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 1.20% of the stock is owned by corporate insiders.

Rexford Industrial Realty Stock Performance

Shares of Rexford Industrial Realty stock traded down $0.60 during midday trading on Friday, hitting $35.93. The company had a trading volume of 2,628,319 shares, compared to its average volume of 3,157,031. The business's 50 day simple moving average is $36.48 and its two-hundred day simple moving average is $37.21. The stock has a market cap of $8.50 billion, a PE ratio of 26.62, a P/E/G ratio of 4.06 and a beta of 1.10. The company has a debt-to-equity ratio of 0.37, a current ratio of 5.59 and a quick ratio of 5.59. Rexford Industrial Realty, Inc. has a 1-year low of $29.68 and a 1-year high of $52.61.

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, topping the consensus estimate 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 business had revenue of $241.57 million for the quarter, compared to the consensus estimate of $251.72 million. During the same quarter last year, the company posted $0.60 earnings per share. Rexford Industrial Realty's quarterly revenue was up 5.0% on a year-over-year basis. As a group, equities analysts predict that Rexford Industrial Realty, Inc. will post 2.38 EPS for the current fiscal year.

Rexford Industrial Realty Dividend Announcement

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 dividend of $0.43 per share. The ex-dividend date is Tuesday, September 30th. This represents a $1.72 dividend on an annualized basis and a yield of 4.8%. Rexford Industrial Realty's payout ratio is currently 127.41%.

Wall Street Analyst Weigh In

Several analysts recently commented on REXR shares. Scotiabank decreased their price target on shares of 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. Evercore ISI cut shares of 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 report on Friday, July 18th. Barclays cut their price objective on shares of Rexford Industrial Realty from $38.00 to $35.00 and set an "underweight" rating on the stock in a research report on Wednesday, April 30th. Truist Financial cut their price objective on shares of 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. Finally, Robert W. Baird set a $43.00 price objective on shares of Rexford Industrial Realty in a research report on Tuesday, May 6th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the stock 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.