68,370 Shares in Rexford Industrial Realty, Inc. $REXR Acquired by Element Capital Management LLC

Key Points

• Element Capital Management LLC has made a new investment in Rexford Industrial Realty, purchasing 68,370 shares valued at approximately $2.68 million.
• Analysts have recently lowered target prices for Rexford Industrial Realty, with Truist and JPMorgan both setting a new target of $37, while maintaining a "buy" and "neutral" rating, respectively.
• The company has announced a quarterly dividend of $0.43 per share, yielding 4.5%, which will be paid on October 15th to investors of record as of September 30th.

Element Capital Management LLC purchased a new position in shares of Rexford Industrial Realty, Inc. (NYSE:REXR - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 68,370 shares of the real estate investment trust's stock, valued at approximately $2,677,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in shares of Rexford Industrial Realty by 2.6% during the first quarter. Vanguard Group Inc. now owns 30,711,076 shares of the real estate investment trust's stock worth $1,202,339,000 after purchasing an additional 779,095 shares during the last quarter. Massachusetts Financial Services Co. MA grew its holdings in shares of Rexford Industrial Realty by 130.2% during 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 grew its holdings in shares of Rexford Industrial Realty by 7.0% during the first quarter. Centersquare Investment Management LLC now owns 4,808,035 shares of the real estate investment trust's stock worth $188,235,000 after purchasing an additional 315,869 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Rexford Industrial Realty by 18.3% during the first quarter. JPMorgan Chase & Co. now owns 3,856,451 shares of the real estate investment trust's stock worth $150,980,000 after purchasing an additional 595,759 shares during the last quarter. Finally, Nuveen LLC bought a new stake in shares of Rexford Industrial Realty during the first quarter worth about $146,155,000. 99.52% of the stock is currently owned by institutional investors.

Insider Activity

In other Rexford Industrial Realty news, General Counsel David E. Lanzer sold 26,449 shares of the 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 transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 1.20% of the company's stock.

Rexford Industrial Realty Trading Down 0.3%

Rexford Industrial Realty stock traded down $0.11 during trading hours on Wednesday, reaching $39.34. 2,171,680 shares of the company's stock were exchanged, compared to its average volume of 2,142,335. 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 firm's 50 day simple moving average is $36.95 and its 200 day simple moving average is $36.95. Rexford Industrial Realty, Inc. has a twelve month low of $29.68 and a twelve month high of $52.61. The firm has a market capitalization of $9.31 billion, a PE ratio of 29.14, a PEG ratio of 4.38 and a beta of 1.10.

Rexford Industrial Realty (NYSE:REXR - Get Free Report) last posted its quarterly 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. The firm had revenue of $241.57 million for the quarter, compared to analysts' expectations of $251.72 million. Rexford Industrial Realty had a return on equity of 3.62% and a net margin of 32.04%.The company's revenue for the quarter was up 5.0% compared to the same quarter last year. During the same period in the prior year, the business earned $0.60 EPS. Rexford Industrial Realty has set its FY 2025 guidance at 2.370-2.410 EPS. Research analysts predict that Rexford Industrial Realty, Inc. will post 2.38 earnings per share for the current year.

Rexford Industrial Realty Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Tuesday, September 30th will be issued a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a dividend yield of 4.4%. The ex-dividend date is Tuesday, September 30th. Rexford Industrial Realty's dividend payout ratio is presently 127.41%.

Analyst Ratings Changes

Several analysts have recently weighed in on REXR shares. Evercore ISI cut Rexford Industrial Realty from an "outperform" rating to an "in-line" rating and reduced their price target for the stock from $39.00 to $38.00 in a report on Friday, July 18th. JPMorgan Chase & Co. reduced their price target on Rexford Industrial Realty from $44.00 to $37.00 and set a "neutral" rating on the stock in a research report on Thursday, April 24th. Robert W. Baird set a $43.00 price target on Rexford Industrial Realty in a research report on Tuesday, May 6th. Truist Financial upped their target price on Rexford Industrial Realty from $37.00 to $42.00 and gave the company a "buy" rating in a report on Wednesday. Finally, 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. Two analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $40.27.

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.