APG Asset Management US Inc. Sells 232,607 Shares of Rexford Industrial Realty, Inc. $REXR

Key Points

• APG Asset Management US Inc. has reduced its stake in Rexford Industrial Realty by 27.7%, selling 232,607 shares to hold 608,082 shares valued at approximately $23.8 million.
• Analysts have varied opinions on the stock, with Barclays setting a price target of $35.00 and Wells Fargo adjusting theirs to $39.00, while maintaining an "overweight" rating.
• Rexford Industrial Realty announced a quarterly dividend of $0.43 per share, payable on October 15th, with an annualized yield of 4.3% and a payout ratio of 127.41%.

APG Asset Management US Inc. lowered its position in Rexford Industrial Realty, Inc. (NYSE:REXR - Free Report) by 27.7% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 608,082 shares of the real estate investment trust's stock after selling 232,607 shares during the quarter. APG Asset Management US Inc. owned 0.26% of Rexford Industrial Realty worth $23,800,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of REXR. MassMutual Private Wealth & Trust FSB lifted its position in Rexford Industrial Realty by 332.9% in 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 stake in 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. Private Trust Co. NA boosted its holdings in 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 valued at $30,000 after purchasing an additional 370 shares in the last quarter. Caitong International Asset Management Co. Ltd raised its holdings in shares of Rexford Industrial Realty by 280.7% in the 1st quarter. Caitong International Asset Management Co. Ltd now owns 1,085 shares of the real estate investment trust's stock worth $42,000 after buying an additional 800 shares in the last quarter. Finally, GAMMA Investing LLC boosted its stake in 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 buying an additional 978 shares in the last quarter. 99.52% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

REXR has been the subject of several recent analyst reports. Barclays dropped their price objective 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 reduced their price target on shares of Rexford Industrial Realty from $45.00 to $39.00 and set an "overweight" rating on the stock in a research report on Monday, May 19th. Scotiabank dropped their price objective 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 downgraded Rexford Industrial Realty from an "outperform" rating to an "in-line" rating and reduced their target price for the stock from $39.00 to $38.00 in a report on Friday, July 18th. Finally, Truist Financial raised their price target on Rexford Industrial Realty from $37.00 to $42.00 and gave the company a "buy" rating in a report on Wednesday. Two equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $40.27.

Insiders Place Their Bets

In other news, General Counsel David E. Lanzer sold 26,449 shares of the 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 1.20% of the company's stock.

Rexford Industrial Realty Stock Performance

REXR stock opened at $40.3910 on Friday. The company has a quick ratio of 5.59, a current ratio of 5.59 and a debt-to-equity ratio of 0.37. Rexford Industrial Realty, Inc. has a twelve month low of $29.68 and a twelve month high of $52.61. The business's fifty day moving average is $37.07 and its 200-day moving average is $36.94. The company has a market cap of $9.56 billion, a P/E ratio of 29.92, a price-to-earnings-growth ratio of 4.34 and a beta of 1.10.

Rexford Industrial Realty (NYSE:REXR - Get Free Report) last announced its quarterly earnings results on Wednesday, July 16th. The real estate investment trust reported $0.59 EPS for the quarter, beating analysts' consensus estimates 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 company had revenue of $241.57 million during the quarter, compared to analysts' expectations of $251.72 million. During the same period in the prior year, the business posted $0.60 EPS. Rexford Industrial Realty's revenue was up 5.0% on a year-over-year basis. Rexford Industrial Realty has set its FY 2025 guidance at 2.370-2.410 EPS. Equities research analysts forecast that Rexford Industrial Realty, Inc. will post 2.38 EPS 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 issued a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a dividend yield of 4.3%. The ex-dividend date is Tuesday, September 30th. Rexford Industrial Realty's payout ratio 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.

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