AR Asset Management Inc. Has $2.35 Million Stake in Rexford Industrial Realty, Inc. $REXR

Key Points

• AR Asset Management Inc. increased its holdings in Rexford Industrial Realty by 110.1%, acquiring an additional 31,500 shares in the first quarter, bringing their total to 60,100 shares valued at approximately $2.35 million.
• Rexford Industrial Realty's quarterly dividend of $0.43 will be paid on October 15, 2023, representing an annualized yield of 4.5%.
• Analysts have issued mixed ratings for Rexford Industrial Realty, with a consensus rating of "Hold" and a price target averaging around $39.82.

AR Asset Management Inc. boosted its position in Rexford Industrial Realty, Inc. (NYSE:REXR - Free Report) by 110.1% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 60,100 shares of the real estate investment trust's stock after purchasing an additional 31,500 shares during the quarter. AR Asset Management Inc.'s holdings in Rexford Industrial Realty were worth $2,353,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in REXR. Cerity Partners LLC boosted its stake in Rexford Industrial Realty by 1.8% in the 4th quarter. Cerity Partners LLC now owns 40,029 shares of the real estate investment trust's stock valued at $1,586,000 after purchasing an additional 697 shares during the period. Synovus Financial Corp acquired a new stake in shares of Rexford Industrial Realty in the fourth quarter valued at approximately $308,000. Barclays PLC raised its position in shares of Rexford Industrial Realty by 68.0% in the fourth quarter. Barclays PLC now owns 280,952 shares of the real estate investment trust's stock valued at $10,861,000 after buying an additional 113,756 shares in the last quarter. CANADA LIFE ASSURANCE Co raised its position in shares of Rexford Industrial Realty by 5.2% in the fourth quarter. CANADA LIFE ASSURANCE Co now owns 444,523 shares of the real estate investment trust's stock valued at $17,176,000 after buying an additional 21,808 shares in the last quarter. Finally, GeoWealth Management LLC raised its position in shares of Rexford Industrial Realty by 17.5% in the fourth quarter. GeoWealth Management LLC now owns 14,072 shares of the real estate investment trust's stock valued at $544,000 after buying an additional 2,097 shares in the last quarter. 99.52% of the stock is currently owned by institutional investors.

Rexford Industrial Realty Price Performance

Shares of NYSE REXR traded down $0.11 during midday trading on Wednesday, reaching $39.34. 1,231,755 shares of the company were exchanged, compared to its average volume of 2,589,239. 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 one year low of $29.68 and a one year high of $52.61. The stock has a market cap of $9.31 billion, a P/E ratio of 29.14, a PEG ratio of 4.19 and a beta of 1.10. The stock's 50-day moving average price is $36.90 and its 200-day moving average price is $36.94.

Rexford Industrial Realty (NYSE:REXR - Get Free Report) last issued its quarterly earnings data 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 net margin of 32.04% and a return on equity of 3.62%. The company had revenue of $241.57 million for the quarter, compared to analysts' expectations of $251.72 million. During the same quarter in the previous year, the firm posted $0.60 earnings per share. Rexford Industrial Realty's revenue for the quarter 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. On average, sell-side analysts anticipate that Rexford Industrial Realty, Inc. will post 2.38 earnings per share for the current fiscal year.

Rexford Industrial Realty Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th will be paid 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 4.4%. Rexford Industrial Realty's payout ratio is currently 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. 1.20% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

REXR has been the subject of a number of analyst reports. Scotiabank dropped 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 research report on Monday, May 12th. JPMorgan Chase & Co. dropped their price target on shares of 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. Truist Financial lifted their price target on shares of Rexford Industrial Realty from $37.00 to $42.00 and gave the company a "buy" rating in a research report on Wednesday. Robert W. Baird set a $43.00 price target on shares of Rexford Industrial Realty in a research report on Tuesday, May 6th. Finally, Wells Fargo & Company dropped their price target on shares of Rexford Industrial Realty from $45.00 to $39.00 and set an "overweight" rating for the company in a research report on Monday, May 19th. Two investment 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's stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $40.27.

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.