Janney Montgomery Scott LLC Takes $1.31 Million Position in Rexford Industrial Realty, Inc. $REXR

Key Points

• Janney Montgomery Scott LLC has acquired a $1.31 million position in Rexford Industrial Realty, purchasing 36,825 shares in the second quarter.
• Rexford Industrial Realty has a consensus rating of "Hold" from analysts, with an average target price of $41.83.
• Rexford's stock is currently trading at $39.37 and is down 4.6%, with a market capitalization of $9.32 billion.

Janney Montgomery Scott LLC acquired a new position in Rexford Industrial Realty, Inc. (NYSE:REXR - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 36,825 shares of the real estate investment trust's stock, valued at approximately $1,310,000.

Other large investors have also recently bought and sold shares of the company. M&T Bank Corp grew its stake in shares of Rexford Industrial Realty by 1.2% during the first quarter. M&T Bank Corp now owns 26,857 shares of the real estate investment trust's stock worth $1,052,000 after purchasing an additional 317 shares during the period. Caitlin John LLC lifted its stake in Rexford Industrial Realty by 6.4% in the second quarter. Caitlin John LLC now owns 6,027 shares of the real estate investment trust's stock valued at $214,000 after buying an additional 361 shares during the period. Private Trust Co. NA boosted its holdings 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 buying an additional 370 shares during the last quarter. Federated Hermes Inc. grew its position in shares of Rexford Industrial Realty by 2.2% during the 1st quarter. Federated Hermes Inc. now owns 18,297 shares of the real estate investment trust's stock worth $716,000 after buying an additional 388 shares during the period. Finally, Bessemer Group Inc. grew its position 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 buying an additional 405 shares during the period. Institutional investors and hedge funds own 99.52% of the company's stock.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. Cantor Fitzgerald started coverage on shares of Rexford Industrial Realty in a research note on Wednesday, October 1st. They set an "overweight" rating and a $50.00 price objective on the stock. Industrial Alliance Securities set a $40.00 price target on shares of Rexford Industrial Realty in a report on Monday, September 15th. Wall Street Zen upgraded shares of Rexford Industrial Realty from a "sell" rating to a "hold" rating in a research report on Saturday, September 20th. Scotiabank lifted their target price on Rexford Industrial Realty from $40.00 to $43.00 and gave the stock a "sector perform" rating in a report on Thursday, September 4th. Finally, Weiss Ratings restated a "hold (c)" rating on shares of Rexford Industrial Realty in a report on Wednesday, October 8th. Three equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, Rexford Industrial Realty presently has a consensus rating of "Hold" and an average target price of $41.83.

Rexford Industrial Realty Stock Down 4.6%

REXR stock opened at $39.37 on Monday. 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 $9.32 billion, a P/E ratio of 29.16, a P/E/G ratio of 4.37 and a beta of 1.13. Rexford Industrial Realty, Inc. has a fifty-two week low of $29.68 and a fifty-two week high of $49.60. The business has a 50-day moving average of $40.59 and a 200-day moving average of $37.25.

Rexford Industrial Realty (NYSE:REXR - Get Free Report) last released its earnings results on Wednesday, July 16th. The real estate investment trust reported $0.59 EPS for the quarter, beating the consensus estimate 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 business's quarterly revenue was up 5.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.60 EPS. Rexford Industrial Realty has set its FY 2025 guidance at 2.370-2.410 EPS. On average, sell-side analysts anticipate that Rexford Industrial Realty, Inc. will post 2.38 earnings per share for the current fiscal year.

Insider Buying and Selling

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

Rexford Industrial Realty 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.

Want to see what other hedge funds are holding REXR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Rexford Industrial Realty, Inc. (NYSE:REXR - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.