BROOKFIELD Corp ON Sells 112,662 Shares of Rexford Industrial Realty, Inc. $REXR

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 reduced its position in shares of Rexford Industrial Realty, Inc. (NYSE:REXR - Free Report) by 24.5% in the 1st quarter, according to its most recent filing with the Securities & 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 about 0.15% of Rexford Industrial Realty worth $13,620,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in REXR. Cetera Investment Advisers lifted its holdings in Rexford Industrial Realty by 43.9% during the 4th quarter. Cetera Investment Advisers now owns 11,723 shares of the real estate investment trust's stock valued at $453,000 after purchasing an additional 3,575 shares during the last quarter. Cresset Asset Management LLC bought a new position in Rexford Industrial Realty during the 4th quarter valued at about $454,000. Janus Henderson Group PLC lifted its holdings in Rexford Industrial Realty by 18.5% during the 4th quarter. Janus Henderson Group PLC now owns 143,784 shares of the real estate investment trust's stock valued at $5,558,000 after purchasing an additional 22,428 shares during the last quarter. Lazard Asset Management LLC bought a new position in Rexford Industrial Realty during the 4th quarter valued at about $961,000. Finally, Nomura Holdings Inc. acquired a new position in Rexford Industrial Realty in the fourth quarter worth $2,071,000. 99.52% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, General Counsel David E. Lanzer sold 26,449 shares of the stock in a transaction that occurred on Monday, July 21st. The stock was sold at an average price of $36.87, for a total transaction of $975,174.63. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 1.20% of the company's stock.

Rexford Industrial Realty Stock Performance

Shares of REXR stock opened at $43.58 on Friday. The company has a debt-to-equity ratio of 0.37, a current ratio of 5.59 and a quick ratio of 5.59. The stock has a market cap of $10.31 billion, a PE ratio of 32.28, a price-to-earnings-growth ratio of 4.74 and a beta of 1.13. The stock has a 50-day moving average of $38.54 and a 200-day moving average of $37.06. Rexford Industrial Realty, Inc. has a one year low of $29.68 and a one year high of $52.37.

Rexford Industrial Realty (NYSE:REXR - Get Free Report) last released its quarterly earnings data on Wednesday, July 16th. The real estate investment trust reported $0.59 earnings per share for the quarter, beating 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 business 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 business posted $0.60 EPS. 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. As a group, sell-side analysts expect that Rexford Industrial Realty, Inc. will post 2.38 earnings per share for the current year.

Rexford Industrial Realty Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th will be given a dividend of $0.43 per share. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $1.72 annualized dividend and a yield of 3.9%. Rexford Industrial Realty's dividend payout ratio is 127.41%.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on REXR. Evercore ISI increased their target price on Rexford Industrial Realty from $38.00 to $39.00 and gave the stock an "in-line" rating in a report on Monday. Mizuho upped their price target on shares of Rexford Industrial Realty from $37.00 to $40.00 and gave the stock a "neutral" rating in a research report on Monday. Industrial Alliance Securities set a $39.00 target price on shares of Rexford Industrial Realty in a research note on Monday. Scotiabank boosted their target price on shares of Rexford Industrial Realty from $40.00 to $43.00 and gave the stock a "sector perform" rating in a research note on Thursday, September 4th. Finally, Truist Financial boosted their target price on shares of Rexford Industrial Realty from $37.00 to $42.00 and gave the stock a "buy" rating in a research note on Wednesday, August 20th. Two equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Rexford Industrial Realty has a consensus rating of "Hold" and a consensus price target of $40.55.

Rexford Industrial Realty Company 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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