Rexford Industrial Realty, Inc. (NYSE:REXR) Shares Purchased by Diamond Hill Capital Management Inc.

Diamond Hill Capital Management Inc. lifted its position in shares of Rexford Industrial Realty, Inc. (NYSE:REXR - Free Report) by 41.1% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 526,004 shares of the real estate investment trust's stock after purchasing an additional 153,118 shares during the period. Diamond Hill Capital Management Inc. owned 0.22% of Rexford Industrial Realty worth $20,593,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in shares of Rexford Industrial Realty by 1.9% during the fourth quarter. Vanguard Group Inc. now owns 29,931,981 shares of the real estate investment trust's stock valued at $1,157,170,000 after purchasing an additional 562,710 shares in the last quarter. Massachusetts Financial Services Co. MA raised its stake in shares of Rexford Industrial Realty by 130.2% in the first 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 purchasing an additional 4,384,624 shares during the last quarter. Centersquare Investment Management LLC lifted its stake in Rexford Industrial Realty by 32.3% during the 4th quarter. Centersquare Investment Management LLC now owns 4,492,166 shares of the real estate investment trust's stock valued at $173,667,000 after acquiring an additional 1,097,349 shares during the period. Geode Capital Management LLC lifted its position in Rexford Industrial Realty by 1.7% during the fourth quarter. Geode Capital Management LLC now owns 4,144,754 shares of the real estate investment trust's stock valued at $160,282,000 after purchasing an additional 70,710 shares during the period. Finally, Rush Island Management LP purchased a new position in shares of Rexford Industrial Realty in the 4th quarter worth $132,701,000. Hedge funds and other institutional investors own 99.52% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on REXR. Truist Financial cut their price target on Rexford Industrial Realty from $44.00 to $37.00 and set a "buy" rating for the company in a report on Thursday, May 1st. JPMorgan Chase & Co. reduced their price target on shares of 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 lowered their target price on Rexford Industrial Realty from $39.00 to $37.00 and set a "sector perform" rating for the company in a research report on Monday, May 12th. Wells Fargo & Company reduced their price objective on Rexford Industrial Realty from $45.00 to $39.00 and set an "overweight" rating on the stock in a research note on Monday, May 19th. Finally, Barclays cut their price objective on shares of Rexford Industrial Realty from $38.00 to $35.00 and set an "underweight" rating on the stock in a research report on Wednesday, April 30th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the company. According to MarketBeat, Rexford Industrial Realty currently has a consensus rating of "Hold" and an average target price of $39.82.

Insider Transactions at Rexford Industrial Realty

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

Rexford Industrial Realty Trading Down 1.1%

Shares of Rexford Industrial Realty stock traded down $0.43 on Thursday, reaching $37.63. The company had a trading volume of 2,105,146 shares, compared to its average volume of 3,407,056. The firm's 50 day moving average price is $36.26 and its two-hundred day moving average price is $37.25. The company has a debt-to-equity ratio of 0.37, a quick ratio of 4.90 and a current ratio of 5.59. Rexford Industrial Realty, Inc. has a 52-week low of $29.68 and a 52-week high of $52.61. The firm has a market cap of $8.91 billion, a PE ratio of 27.87, a PEG ratio of 4.23 and a beta of 1.13.

Rexford Industrial Realty (NYSE:REXR - Get Free Report) last posted its earnings results 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 net margin of 32.04% and a return on equity of 3.62%. The firm had revenue of $241.57 million during the quarter, compared to the consensus estimate of $251.72 million. During the same quarter last year, the firm earned $0.60 EPS. The firm's revenue for the quarter was up 5.0% on a year-over-year basis. Sell-side analysts predict that Rexford Industrial Realty, Inc. will post 2.38 earnings per share for the current fiscal year.

Rexford Industrial Realty Dividend Announcement

The company 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 dividend of $0.43 per share. This represents a $1.72 annualized dividend and a yield of 4.57%. The ex-dividend date is Tuesday, September 30th. Rexford Industrial Realty's payout ratio is 127.41%.

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.