Intech Investment Management LLC Sells 8,647 Shares of Rexford Industrial Realty, Inc. $REXR

Key Points

• Intech Investment Management LLC has reduced its stake in Rexford Industrial Realty, selling 8,647 shares and now holding 170,420 shares valued at approximately $6.67 million.
• Several institutional investors, including M&T Bank Corp and Bessemer Group Inc., have recently increased their positions in Rexford Industrial Realty, highlighting positive investor sentiment.
• Rexford Industrial Realty declared a quarterly dividend of $0.43, with a yield of 3.9%, amidst reported earnings of $0.59 per share for the last quarter.

Intech Investment Management LLC reduced its position in Rexford Industrial Realty, Inc. (NYSE:REXR - Free Report) by 4.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 170,420 shares of the real estate investment trust's stock after selling 8,647 shares during the quarter. Intech Investment Management LLC owned approximately 0.07% of Rexford Industrial Realty worth $6,672,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of REXR. M&T Bank Corp increased its holdings in shares of Rexford Industrial Realty by 1.2% during the 1st quarter. M&T Bank Corp now owns 26,857 shares of the real estate investment trust's stock worth $1,052,000 after acquiring an additional 317 shares during the last quarter. Private Trust Co. NA lifted its stake 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 worth $30,000 after purchasing an additional 370 shares during the last quarter. Federated Hermes Inc. lifted its stake in shares of Rexford Industrial Realty by 2.2% in the 1st quarter. Federated Hermes Inc. now owns 18,297 shares of the real estate investment trust's stock valued at $716,000 after acquiring an additional 388 shares during the last quarter. Bessemer Group Inc. grew its holdings in shares of Rexford Industrial Realty by 118.4% during the 1st quarter. Bessemer Group Inc. now owns 747 shares of the real estate investment trust's stock worth $29,000 after acquiring an additional 405 shares during the period. Finally, Securian Asset Management Inc. grew its stake in shares of Rexford Industrial Realty by 3.0% in the 1st quarter. Securian Asset Management Inc. now owns 17,282 shares of the real estate investment trust's stock worth $677,000 after buying an additional 501 shares during the last quarter. Institutional investors own 99.52% of the company's stock.

Insider Activity at Rexford Industrial Realty

In related news, General Counsel David E. Lanzer sold 26,449 shares of the company's stock in a transaction dated Monday, July 21st. The shares were sold at an average price of $36.87, for a total transaction of $975,174.63. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 1.20% of the company's stock.

Rexford Industrial Realty Price Performance

REXR traded up $0.07 during midday trading on Wednesday, reaching $42.86. 368,340 shares of the company's stock were exchanged, compared to its average volume of 2,608,441. The business's 50-day moving average price is $38.90 and its 200 day moving average price is $37.08. The company has a debt-to-equity ratio of 0.37, a current ratio of 5.59 and a quick ratio of 5.59. The stock has a market capitalization of $10.14 billion, a PE ratio of 31.78, a P/E/G ratio of 4.76 and a beta of 1.13. Rexford Industrial Realty, Inc. has a 1-year low of $29.68 and a 1-year high of $52.37.

Rexford Industrial Realty (NYSE:REXR - Get Free Report) last posted its quarterly earnings data on Wednesday, July 16th. The real estate investment trust reported $0.59 EPS for the quarter, beating analysts' consensus estimates 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 for the quarter, compared to the consensus estimate of $251.72 million. During the same period in the prior year, the firm posted $0.60 EPS. The firm's revenue was up 5.0% compared to the same quarter last year. Rexford Industrial Realty has set its FY 2025 guidance at 2.370-2.410 EPS. As a group, equities analysts anticipate that Rexford Industrial Realty, Inc. will post 2.38 EPS for the current fiscal year.

Rexford Industrial Realty Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th will be paid a $0.43 dividend. This represents a $1.72 annualized dividend and a dividend yield of 4.0%. The ex-dividend date is Tuesday, September 30th. Rexford Industrial Realty's payout ratio is currently 127.41%.

Analyst Upgrades and Downgrades

REXR has been the topic of a number of recent research reports. Evercore ISI raised their target price on Rexford Industrial Realty from $39.00 to $40.00 and gave the stock an "in-line" rating in a report on Monday. Truist Financial lifted their price target on Rexford Industrial Realty from $37.00 to $42.00 and gave the stock a "buy" rating in a research report on Wednesday, August 20th. Barclays boosted their target price on Rexford Industrial Realty from $35.00 to $39.00 and gave the company an "underweight" rating in a research report on Monday. Scotiabank boosted their price objective on shares of Rexford Industrial Realty from $40.00 to $43.00 and gave the stock a "sector perform" rating in a research note on Thursday, September 4th. Finally, Industrial Alliance Securities set a $40.00 price objective on shares of Rexford Industrial Realty in a report on Monday. Two investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Rexford Industrial Realty has an average rating of "Hold" and a consensus price target of $41.09.

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.