Canoe Financial LP Makes New $1.23 Million Investment in Rexford Industrial Realty, Inc. $REXR

Key Points

• Canoe Financial LP has invested approximately $1.23 million in Rexford Industrial Realty, acquiring 34,505 shares during the second quarter.
• Rexford Industrial Realty reported $0.59 EPS for the last quarter, exceeding analysts' expectations, though revenue of $241.57 million fell short of estimates.
• The company has announced a quarterly dividend of $0.43, which will be paid on October 15th, representing an annualized yield of 4.0%.

Canoe Financial LP bought a new stake in shares of Rexford Industrial Realty, Inc. (NYSE:REXR - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund bought 34,505 shares of the real estate investment trust's stock, valued at approximately $1,227,000.

A number of other large investors also recently made changes to their positions in REXR. Wealth Enhancement Advisory Services LLC lifted its position in shares of Rexford Industrial Realty by 202.8% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 62,574 shares of the real estate investment trust's stock worth $2,323,000 after purchasing an additional 41,907 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in Rexford Industrial Realty by 7.8% in the 2nd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 50,277 shares of the real estate investment trust's stock valued at $1,788,000 after buying an additional 3,638 shares during the period. Pallas Capital Advisors LLC purchased a new stake in Rexford Industrial Realty in the 2nd quarter worth approximately $267,000. Voya Investment Management LLC boosted its stake in shares of Rexford Industrial Realty by 2.7% during the 1st quarter. Voya Investment Management LLC now owns 27,489 shares of the real estate investment trust's stock valued at $1,076,000 after buying an additional 718 shares during the period. Finally, Strs Ohio acquired a new stake in shares of Rexford Industrial Realty during the 1st quarter valued at $14,949,000. Institutional investors and hedge funds own 99.52% of the company's stock.

Rexford Industrial Realty Stock Up 0.6%

REXR opened at $42.54 on Friday. The business has a 50 day moving average of $39.12 and a 200-day moving average of $37.13. The stock has a market capitalization of $10.07 billion, a price-to-earnings ratio of 31.51, a P/E/G ratio of 4.69 and a beta of 1.13. The company has a current ratio of 5.59, a quick ratio of 5.59 and a debt-to-equity ratio of 0.37. Rexford Industrial Realty, Inc. has a 1-year low of $29.68 and a 1-year high of $52.37.

Rexford Industrial Realty (NYSE:REXR - Get Free Report) last announced its earnings results on Wednesday, July 16th. The real estate investment trust reported $0.59 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 analyst estimates 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 was up 5.0% compared to the same quarter last year. Rexford Industrial Realty has set its FY 2025 guidance at 2.370-2.410 EPS. As a group, sell-side analysts anticipate that Rexford Industrial Realty, Inc. will post 2.38 earnings per share for the current year.

Rexford Industrial Realty Announces Dividend

The business also recently announced 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. This represents a $1.72 annualized dividend and a dividend yield of 4.0%. The ex-dividend date is Tuesday, September 30th. Rexford Industrial Realty's dividend payout ratio (DPR) is presently 127.41%.

Insiders Place Their Bets

In related news, General Counsel David E. Lanzer sold 26,449 shares of Rexford Industrial Realty stock in a transaction dated Monday, July 21st. The stock was 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 available through the SEC website. 1.20% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the stock. Truist Financial upped their price target 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. Scotiabank upped their target price on Rexford Industrial Realty from $40.00 to $43.00 and gave the stock a "sector perform" rating in a research report on Thursday, September 4th. Mizuho raised their price target on Rexford Industrial Realty from $37.00 to $40.00 and gave the stock a "neutral" rating in a research note on Monday, September 8th. Industrial Alliance Securities set a $40.00 price target on Rexford Industrial Realty in a research note on Monday. Finally, Evercore ISI increased their price objective on Rexford Industrial Realty from $39.00 to $40.00 and gave the stock an "in-line" rating in a report on Monday. Two analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Rexford Industrial Realty presently has a consensus rating of "Hold" and a consensus target price of $41.09.

About Rexford Industrial Realty

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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