Rexford Industrial Realty, Inc. $REXR Shares Sold by BROOKFIELD Corp ON

Key Points

• BROOKFIELD Corp ON has reduced its stake in Rexford Industrial Realty by 24.5%, selling 112,662 shares and now holding approximately 347,889 shares valued at $13.62 million.
• Rexford Industrial Realty recently reported revenue of $241.57 million for its latest quarter, which is 5% higher year-over-year, but below analysts' expectations of $251.72 million.
• The company declared a quarterly dividend of $0.43 per share, translating to an annual yield of 3.9%, with a dividend payout ratio of 127.41%.

BROOKFIELD Corp ON cut its position in Rexford Industrial Realty, Inc. (NYSE:REXR - Free Report) by 24.5% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 347,889 shares of the real estate investment trust's stock after selling 112,662 shares during the period. BROOKFIELD Corp ON owned 0.15% of Rexford Industrial Realty worth $13,620,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of the company. M&T Bank Corp increased its position in shares of Rexford Industrial Realty by 1.2% in the 1st quarter. M&T Bank Corp now owns 26,857 shares of the real estate investment trust's stock valued at $1,052,000 after purchasing an additional 317 shares during the last quarter. Private Trust Co. NA increased its position in shares of Rexford Industrial Realty by 95.6% in the 1st 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 during the last quarter. Federated Hermes Inc. increased its position in shares of Rexford Industrial Realty by 2.2% in the 1st quarter. Federated Hermes Inc. now owns 18,297 shares of the real estate investment trust's stock valued at $716,000 after purchasing an additional 388 shares during the last quarter. Bessemer Group Inc. boosted its holdings in shares of Rexford Industrial Realty by 118.4% in the 1st quarter. Bessemer Group Inc. now owns 747 shares of the real estate investment trust's stock valued at $29,000 after buying an additional 405 shares in the last quarter. Finally, Securian Asset Management Inc. boosted its holdings in shares of Rexford Industrial Realty by 3.0% in the 1st quarter. Securian Asset Management Inc. now owns 17,282 shares of the real estate investment trust's stock valued at $677,000 after buying an additional 501 shares in the last quarter. 99.52% of the stock is owned by hedge funds and other institutional investors.

Rexford Industrial Realty Price Performance

Shares of REXR traded down $0.10 during trading hours on Wednesday, reaching $42.69. The company had a trading volume of 585,566 shares, compared to its average volume of 2,609,678. The firm has a 50 day simple moving average of $38.90 and a 200-day simple moving average of $37.08. The company has a current ratio of 5.59, a quick ratio of 5.59 and a debt-to-equity ratio of 0.37. The company has a market capitalization of $10.10 billion, a price-to-earnings ratio of 31.62, a PEG ratio of 4.76 and a beta of 1.13. Rexford Industrial Realty, Inc. has a 12-month low of $29.68 and a 12-month high of $52.37.

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 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 during the quarter, compared to the consensus estimate of $251.72 million. Rexford Industrial Realty had a net margin of 32.04% and a return on equity of 3.62%. The business's revenue was up 5.0% compared to the same quarter last year. During the same quarter last year, the firm posted $0.60 EPS. Rexford Industrial Realty has set its FY 2025 guidance at 2.370-2.410 EPS. Research analysts expect that Rexford Industrial Realty, Inc. will post 2.38 earnings per share for the current year.

Rexford Industrial Realty Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders 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 yield of 4.0%. The ex-dividend date is Tuesday, September 30th. Rexford Industrial Realty's dividend payout ratio (DPR) is 127.41%.

Insiders Place Their Bets

In other Rexford Industrial Realty news, General Counsel David E. Lanzer sold 26,449 shares of the firm's stock in a transaction dated 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 Securities & Exchange Commission, which is available through the SEC website. Company insiders own 1.20% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on REXR shares. Scotiabank upped their target price on shares of Rexford Industrial Realty from $40.00 to $43.00 and gave the company a "sector perform" rating in a report on Thursday, September 4th. Truist Financial upped their target price on shares of Rexford Industrial Realty from $37.00 to $42.00 and gave the company a "buy" rating in a report on Wednesday, August 20th. Evercore ISI upped their target price on shares of Rexford Industrial Realty from $39.00 to $40.00 and gave the company an "in-line" rating in a report on Monday. Industrial Alliance Securities set a $40.00 target price on shares of Rexford Industrial Realty in a report on Monday. Finally, Barclays upped their target price on shares of Rexford Industrial Realty from $35.00 to $39.00 and gave the company an "underweight" rating in a report on Monday. Two analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock has an average rating of "Hold" and an average target price of $41.09.

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.