Rexford Industrial Realty, Inc. (NYSE:REXR) Shares Acquired by Centersquare Investment Management LLC

Key Points

• Centersquare Investment Management LLC increased its stake in Rexford Industrial Realty by 7.0%, now owning a total of 4,808,035 shares valued at $188,235,000.
• Wall Street analysts have decreased their price targets for Rexford Industrial Realty, with a consensus rating of "Hold" and an average target price of $39.82.
• The company recently announced a quarterly dividend of $0.43, with a yield of 4.7%, despite a high dividend payout ratio of 127.41%.

Centersquare Investment Management LLC raised its holdings in Rexford Industrial Realty, Inc. (NYSE:REXR - Free Report) by 7.0% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,808,035 shares of the real estate investment trust's stock after buying an additional 315,869 shares during the quarter. Rexford Industrial Realty makes up approximately 1.9% of Centersquare Investment Management LLC's holdings, making the stock its 17th largest holding. Centersquare Investment Management LLC owned 2.03% of Rexford Industrial Realty worth $188,235,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently modified their holdings of the company. Massachusetts Financial Services Co. MA raised its holdings in shares of Rexford Industrial Realty by 130.2% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 7,751,922 shares of the real estate investment trust's stock valued at $303,488,000 after buying an additional 4,384,624 shares during the period. Rush Island Management LP acquired a new stake in Rexford Industrial Realty in the fourth quarter valued at approximately $132,701,000. Long Pond Capital LP purchased a new stake in shares of Rexford Industrial Realty during the fourth quarter valued at approximately $58,595,000. Northern Trust Corp lifted its position in shares of Rexford Industrial Realty by 94.3% during the fourth quarter. Northern Trust Corp now owns 3,104,624 shares of the real estate investment trust's stock worth $120,025,000 after purchasing an additional 1,506,779 shares in the last quarter. Finally, Resolution Capital Ltd purchased a new position in shares of Rexford Industrial Realty in the fourth quarter valued at $52,025,000. Institutional investors and hedge funds own 99.52% of the company's stock.

Rexford Industrial Realty Stock Up 0.4%

NYSE REXR traded up $0.16 on Thursday, hitting $36.90. 2,749,674 shares of the stock traded hands, compared to its average volume of 3,052,408. The stock has a 50-day moving average of $36.62 and a 200 day moving average of $37.13. Rexford Industrial Realty, Inc. has a twelve month low of $29.68 and a twelve month high of $52.61. The company has a market capitalization of $8.73 billion, a P/E ratio of 27.34, a price-to-earnings-growth ratio of 4.08 and a beta of 1.10. 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 (NYSE:REXR - Get Free Report) last issued its quarterly earnings results on Wednesday, July 16th. The real estate investment trust reported $0.59 earnings per share 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 return on equity of 3.62% and a net margin of 32.04%. The business's quarterly revenue was up 5.0% on a year-over-year basis. During the same period in the previous year, the business earned $0.60 EPS. As a group, analysts expect 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 declared a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th will be given a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a dividend yield of 4.7%. The ex-dividend date is Tuesday, September 30th. Rexford Industrial Realty's dividend payout ratio (DPR) is presently 127.41%.

Insider Activity

In other news, General Counsel David E. Lanzer sold 26,449 shares of Rexford Industrial Realty stock in a transaction dated Monday, July 21st. The shares were sold at an average price of $36.87, for a total value of $975,174.63. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.20% of the company's stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on REXR. Robert W. Baird set a $43.00 price target on shares of Rexford Industrial Realty in a research note on Tuesday, May 6th. Evercore ISI downgraded Rexford Industrial Realty from an "outperform" rating to an "in-line" rating and lowered their target price for the company from $39.00 to $38.00 in a research note on Friday, July 18th. Barclays cut their price target on Rexford Industrial Realty from $38.00 to $35.00 and set an "underweight" rating on the stock in a research note on Wednesday, April 30th. Scotiabank lowered their price objective on Rexford Industrial Realty from $39.00 to $37.00 and set a "sector perform" rating for the company in a research note on Monday, May 12th. Finally, Wells Fargo & Company cut their target price on 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. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $39.82.

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.