Geode Capital Management LLC Cuts Position in Rexford Industrial Realty, Inc. $REXR

Key Points

• Geode Capital Management trimmed its Rexford Industrial Realty stake by 1.0% in the fourth quarter, selling 46,710 shares and leaving it with 4.64 million shares valued at about $179.9 million.
• Rexford reported quarterly EPS of $0.38, topping estimates by $0.11, though revenue of $242.1 million came in slightly below expectations and was down 2.9% year over year.
• The company declared a quarterly dividend of $0.435 per share, implying a 5.1% annual yield, while analysts currently rate the stock a consensus Hold with an average target price of $41.46.

Geode Capital Management LLC cut its stake in Rexford Industrial Realty, Inc. (NYSE:REXR - Free Report) by 1.0% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 4,644,325 shares of the real estate investment trust's stock after selling 46,710 shares during the period. Geode Capital Management LLC owned about 1.99% of Rexford Industrial Realty worth $179,862,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in REXR. Royal Bank of Canada grew its position in Rexford Industrial Realty by 3.5% in the first quarter. Royal Bank of Canada now owns 251,550 shares of the real estate investment trust's stock worth $9,849,000 after acquiring an additional 8,506 shares in the last quarter. AQR Capital Management LLC grew its position in Rexford Industrial Realty by 309.8% in the first quarter. AQR Capital Management LLC now owns 118,245 shares of the real estate investment trust's stock worth $4,628,000 after acquiring an additional 89,390 shares in the last quarter. Goldman Sachs Group Inc. grew its position in Rexford Industrial Realty by 41.0% in the first quarter. Goldman Sachs Group Inc. now owns 1,811,775 shares of the real estate investment trust's stock worth $70,931,000 after acquiring an additional 526,877 shares in the last quarter. Cetera Investment Advisers grew its position in Rexford Industrial Realty by 52.7% in the second quarter. Cetera Investment Advisers now owns 16,956 shares of the real estate investment trust's stock worth $603,000 after acquiring an additional 5,854 shares in the last quarter. Finally, EverSource Wealth Advisors LLC grew its position in Rexford Industrial Realty by 131.6% in the second quarter. EverSource Wealth Advisors LLC now owns 3,252 shares of the real estate investment trust's stock worth $116,000 after acquiring an additional 1,848 shares in the last quarter. 99.52% of the stock is currently owned by hedge funds and other institutional investors.

Rexford Industrial Realty Stock Performance

NYSE REXR opened at $34.08 on Thursday. The company has a 50-day simple moving average of $35.05 and a two-hundred day simple moving average of $37.62. The company has a quick ratio of 1.50, a current ratio of 1.50 and a debt-to-equity ratio of 0.38. Rexford Industrial Realty, Inc. has a 12-month low of $32.14 and a 12-month high of $44.38. The firm has a market cap of $7.69 billion, a price-to-earnings ratio of 36.64, a PEG ratio of 1.42 and a beta of 1.21.

Rexford Industrial Realty (NYSE:REXR - Get Free Report) last posted its quarterly earnings results on Thursday, April 23rd. The real estate investment trust reported $0.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.27 by $0.11. Rexford Industrial Realty had a net margin of 23.25% and a return on equity of 2.64%. The business had revenue of $242.14 million during the quarter, compared to analyst estimates of $243.79 million. During the same period in the prior year, the business posted $0.62 earnings per share. The company's revenue was down 2.9% on a year-over-year basis. Rexford Industrial Realty has set its FY 2026 guidance at 2.370-2.42 EPS. On average, equities analysts forecast that Rexford Industrial Realty, Inc. will post 2.4 EPS for the current year.

Rexford Industrial Realty Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th will be given a dividend of $0.435 per share. This represents a $1.74 annualized dividend and a yield of 5.1%. The ex-dividend date is Tuesday, June 30th. Rexford Industrial Realty's dividend payout ratio is presently 187.10%.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. Robert W. Baird set a $40.00 target price on shares of Rexford Industrial Realty in a research report on Tuesday, February 17th. Citigroup cut their target price on shares of Rexford Industrial Realty from $46.00 to $39.00 and set a "neutral" rating for the company in a research report on Friday, February 13th. Evercore upgraded shares of Rexford Industrial Realty from an "in-line" rating to an "outperform" rating and set a $40.00 target price for the company in a research report on Monday, April 13th. Wells Fargo & Company cut their price target on shares of Rexford Industrial Realty from $45.00 to $44.00 and set an "overweight" rating for the company in a research report on Monday. Finally, Zacks Research upgraded shares of Rexford Industrial Realty from a "strong sell" rating to a "hold" rating in a research report on Tuesday, April 28th. Four investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $41.46.

Insider Activity

In other news, General Counsel David E. Lanzer sold 33,299 shares of the stock in a transaction dated Tuesday, April 28th. The shares were sold at an average price of $35.47, for a total transaction of $1,181,115.53. Following the completion of the sale, the general counsel directly owned 33,299 shares in the company, valued at approximately $1,181,115.53. This represents a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Michael S. Frankel sold 23,132 shares of the stock in a transaction dated Tuesday, March 17th. The stock was sold at an average price of $35.29, for a total transaction of $816,328.28. Following the sale, the chief executive officer owned 560,406 shares of the company's stock, valued at approximately $19,776,727.74. This represents a 3.96% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 1.80% of the company's stock.

Rexford Industrial Realty Profile

Rexford Industrial Realty, Inc NYSE: REXR is a real estate investment trust (REIT) specializing in the acquisition, ownership and operation of industrial properties in Southern California. The company's portfolio is concentrated in infill locations across key supply-chain markets, where it targets modern distribution centers, logistics facilities and light manufacturing spaces. Rexford's strategy emphasizes buildings that offer proximity to major transportation routes and labor pools, catering to tenants in e-commerce, third-party logistics and manufacturing industries.

Since its founding in 2013, Rexford Industrial Realty has executed a disciplined growth plan driven by property acquisitions, selective development projects and strategic value-add initiatives.

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