Coronation Fund Managers Ltd. Purchases New Position in Rexford Industrial Realty, Inc. $REXR

Key Points

• Coronation Fund Managers Ltd. acquired a new position in Rexford Industrial Realty, Inc. by purchasing 272,351 shares valued at approximately $9.69 million in the second quarter.
• Rexford Industrial Realty reported a quarterly earnings per share (EPS) of $0.60, beating analyst expectations, with a revenue for the quarter of $246.76 million.
• The company announced a quarterly dividend of $0.43 per share, reflecting an annual yield of 3.9% with a payout ratio currently at 121.13%.

Coronation Fund Managers Ltd. acquired a new position in Rexford Industrial Realty, Inc. (NYSE:REXR - Free Report) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 272,351 shares of the real estate investment trust's stock, valued at approximately $9,688,000. Coronation Fund Managers Ltd. owned about 0.12% of Rexford Industrial Realty at the end of the most recent quarter.

Several other large investors have also modified their holdings of REXR. Massachusetts Financial Services Co. MA boosted 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 worth $303,488,000 after buying an additional 4,384,624 shares during the period. Nuveen LLC bought a new stake in shares of Rexford Industrial Realty during the 1st quarter worth $146,155,000. Vanguard Group Inc. boosted its holdings in shares of Rexford Industrial Realty by 2.6% during the 1st quarter. Vanguard Group Inc. now owns 30,711,076 shares of the real estate investment trust's stock worth $1,202,339,000 after buying an additional 779,095 shares during the period. JPMorgan Chase & Co. boosted its holdings in shares of Rexford Industrial Realty by 18.3% during the 1st quarter. JPMorgan Chase & Co. now owns 3,856,451 shares of the real estate investment trust's stock worth $150,980,000 after buying an additional 595,759 shares during the period. Finally, Goldman Sachs Group Inc. boosted its holdings in shares of Rexford Industrial Realty by 41.0% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,811,775 shares of the real estate investment trust's stock worth $70,931,000 after buying an additional 526,877 shares during the period. 99.52% of the stock is owned by institutional investors.

Rexford Industrial Realty Stock Performance

Shares of NYSE REXR opened at $44.26 on Tuesday. The business has a fifty day simple moving average of $41.28 and a 200 day simple moving average of $37.44. The company has a current ratio of 2.95, a quick ratio of 5.59 and a debt-to-equity ratio of 0.37. The firm has a market capitalization of $10.48 billion, a price-to-earnings ratio of 31.17, a PEG ratio of 4.84 and a beta of 1.13. Rexford Industrial Realty, Inc. has a one year low of $29.68 and a one year high of $45.41.

Rexford Industrial Realty (NYSE:REXR - Get Free Report) last issued its earnings results on Wednesday, October 15th. The real estate investment trust reported $0.60 EPS for the quarter, beating analysts' consensus estimates of $0.59 by $0.01. The business had revenue of $246.76 million during the quarter, compared to analyst estimates of $253.46 million. Rexford Industrial Realty had a return on equity of 3.81% and a net margin of 33.88%.Rexford Industrial Realty's revenue was up 4.7% on a year-over-year basis. During the same period in the prior year, the company posted $0.59 earnings per share. Rexford Industrial Realty has set its FY 2025 guidance at 2.390-2.410 EPS. Sell-side analysts expect that Rexford Industrial Realty, Inc. will post 2.38 EPS for the current year.

Rexford Industrial Realty Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 15th. Shareholders of record on Wednesday, December 31st will be paid a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a yield of 3.9%. The ex-dividend date is Wednesday, December 31st. Rexford Industrial Realty's dividend payout ratio is currently 121.13%.

Analysts Set New Price Targets

REXR has been the subject of several recent analyst reports. Mizuho upped their price objective on shares of Rexford Industrial Realty from $37.00 to $40.00 and gave the stock a "neutral" rating in a report on Monday, September 8th. Industrial Alliance Securities set a $40.00 target price on shares of Rexford Industrial Realty in a research note on Monday, September 15th. Barclays boosted their price objective on shares of Rexford Industrial Realty from $35.00 to $39.00 and gave the stock an "underweight" rating in a report on Monday, September 15th. Scotiabank increased 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 research note on Thursday, September 4th. Finally, Cantor Fitzgerald began coverage on Rexford Industrial Realty in a research note on Wednesday, October 1st. They set an "overweight" rating and a $50.00 price target on the stock. Three investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $41.36.

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.

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