Centersquare Investment Management LLC Increases Position in Rexford Industrial Realty, Inc. (NYSE:REXR)

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 boosted its stake in shares of Rexford Industrial Realty, Inc. (NYSE:REXR - Free Report) by 7.0% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 4,808,035 shares of the real estate investment trust's stock after purchasing an additional 315,869 shares during the period. Rexford Industrial Realty comprises about 1.9% of Centersquare Investment Management LLC's investment portfolio, making the stock its 17th biggest position. Centersquare Investment Management LLC owned approximately 2.03% of Rexford Industrial Realty worth $188,235,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently bought and sold shares of REXR. MassMutual Private Wealth & Trust FSB raised its holdings in Rexford Industrial Realty by 332.9% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 736 shares of the real estate investment trust's stock valued at $29,000 after acquiring an additional 566 shares during the period. Bessemer Group Inc. raised its holdings in Rexford Industrial Realty by 118.4% during the first quarter. Bessemer Group Inc. now owns 747 shares of the real estate investment trust's stock valued at $29,000 after acquiring an additional 405 shares during the period. Private Trust Co. NA raised its holdings in Rexford Industrial Realty by 95.6% during the first quarter. Private Trust Co. NA now owns 757 shares of the real estate investment trust's stock valued at $30,000 after acquiring an additional 370 shares during the period. GAMMA Investing LLC raised its holdings in Rexford Industrial Realty by 211.2% during the first quarter. GAMMA Investing LLC now owns 1,441 shares of the real estate investment trust's stock valued at $56,000 after acquiring an additional 978 shares during the period. Finally, Avalon Trust Co bought a new stake in Rexford Industrial Realty during the first quarter valued at about $66,000. 99.52% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Rexford Industrial Realty news, General Counsel David E. Lanzer sold 26,449 shares of the business's 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 document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 1.20% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on REXR. Barclays reduced their target price on Rexford Industrial Realty from $38.00 to $35.00 and set an "underweight" rating on the stock in a report on Wednesday, April 30th. Robert W. Baird set a $43.00 target price on Rexford Industrial Realty in a report on Tuesday, May 6th. JPMorgan Chase & Co. reduced their target price on Rexford Industrial Realty from $44.00 to $37.00 and set a "neutral" rating on the stock in a report on Thursday, April 24th. Scotiabank reduced their target price on Rexford Industrial Realty from $39.00 to $37.00 and set a "sector perform" rating on the stock in a report on Monday, May 12th. Finally, Wells Fargo & Company reduced their target price on Rexford Industrial Realty from $45.00 to $39.00 and set an "overweight" rating on the stock in a report on Monday, May 19th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $39.82.

Rexford Industrial Realty Trading Down 0.6%

REXR traded down $0.24 on Friday, hitting $36.73. The company had a trading volume of 2,108,764 shares, compared to its average volume of 3,052,349. The company has a market cap of $8.69 billion, a PE ratio of 27.21, a PEG ratio of 4.08 and a beta of 1.10. Rexford Industrial Realty, Inc. has a 12-month low of $29.68 and a 12-month high of $52.61. The company has a quick ratio of 5.59, a current ratio of 5.59 and a debt-to-equity ratio of 0.37. The business's fifty day simple moving average is $36.65 and its 200 day simple moving average is $37.08.

Rexford Industrial Realty (NYSE:REXR - Get Free Report) last released its quarterly earnings results on Wednesday, July 16th. The real estate investment trust reported $0.59 EPS for the quarter, topping 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 company had revenue of $241.57 million during the quarter, compared to analyst estimates of $251.72 million. During the same quarter last year, the business posted $0.60 earnings per share. The firm's revenue was up 5.0% on a year-over-year basis. Equities research analysts expect that Rexford Industrial Realty, Inc. will post 2.38 EPS for the current year.

Rexford Industrial Realty Dividend Announcement

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 given a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a dividend yield of 4.7%. The ex-dividend date is Tuesday, September 30th. Rexford Industrial Realty's payout ratio is 127.41%.

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.