Intech Investment Management LLC Trims Stock Position in 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 lowered its stake in shares of Rexford Industrial Realty, Inc. (NYSE:REXR - Free Report) by 4.8% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor 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 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of REXR. Vanguard Group Inc. grew its position in shares of Rexford Industrial Realty by 2.6% in the 1st quarter. Vanguard Group Inc. now owns 30,711,076 shares of the real estate investment trust's stock valued at $1,202,339,000 after buying an additional 779,095 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in Rexford Industrial Realty by 1.7% in the first quarter. Price T Rowe Associates Inc. MD now owns 27,443,472 shares of the real estate investment trust's stock valued at $1,074,413,000 after acquiring an additional 445,743 shares in 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 boosted its holdings in shares of Rexford Industrial Realty by 7.0% in the first quarter. Centersquare Investment Management LLC now owns 4,808,035 shares of the real estate investment trust's stock valued at $188,235,000 after acquiring an additional 315,869 shares during the period. Finally, JPMorgan Chase & Co. grew its position 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 acquiring an additional 595,759 shares during the last quarter. Institutional investors and hedge funds own 99.52% of the company's stock.

Analyst Ratings Changes

Several analysts recently commented on the stock. Wells Fargo & Company reduced their price target on shares of Rexford Industrial Realty from $45.00 to $39.00 and set an "overweight" rating for the company in a research report on Monday, May 19th. Mizuho boosted their price objective on shares of Rexford Industrial Realty from $37.00 to $40.00 and gave the company a "neutral" rating in a research note on Monday, September 8th. Evercore ISI increased their target price on Rexford Industrial Realty from $38.00 to $39.00 and gave the stock an "in-line" rating in a research note on Monday, September 8th. Truist Financial increased their price target on shares of Rexford Industrial Realty from $37.00 to $42.00 and gave the company a "buy" rating in a report on Wednesday, August 20th. Finally, Industrial Alliance Securities set a $39.00 price objective on Rexford Industrial Realty in a report on Monday, September 8th. Two analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $40.55.

Rexford Industrial Realty Price Performance

Rexford Industrial Realty stock traded down $0.08 during mid-day trading on Friday, hitting $43.45. 2,480,491 shares of the company were exchanged, compared to its average volume of 2,754,651. Rexford Industrial Realty, Inc. has a 12-month low of $29.68 and a 12-month high of $52.37. The company has a market capitalization of $10.28 billion, a P/E ratio of 32.18, a PEG ratio of 4.81 and a beta of 1.13. The business's 50 day simple moving average is $38.66 and its two-hundred day simple moving average is $37.03. The company has a debt-to-equity ratio of 0.37, a current ratio of 5.59 and a quick ratio of 5.59.

Rexford Industrial Realty (NYSE:REXR - Get Free Report) last issued its quarterly earnings data on Wednesday, July 16th. The real estate investment trust reported $0.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.58 by $0.01. The business had revenue of $241.57 million for the quarter, compared to the consensus estimate of $251.72 million. Rexford Industrial Realty had a return on equity of 3.62% and a net margin of 32.04%.The business's revenue was up 5.0% on a year-over-year basis. During the same period in the prior year, the business earned $0.60 earnings per share. Rexford Industrial Realty has set its FY 2025 guidance at 2.370-2.410 EPS. Analysts forecast 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 declared a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th will be issued a dividend of $0.43 per share. The ex-dividend date is Tuesday, September 30th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 4.0%. Rexford Industrial Realty's payout ratio is 127.41%.

Insider Buying and Selling at Rexford Industrial Realty

In related news, General Counsel David E. Lanzer sold 26,449 shares of the company's stock in a transaction that occurred on 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 this hyperlink. 1.20% of the stock is currently owned by corporate insiders.

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.