JPMorgan Chase & Co. Increases Stock Position in Rexford Industrial Realty, Inc. $REXR

Key Points

• JPMorgan Chase & Co. increased its stake in Rexford Industrial Realty by 18.3%, acquiring an additional 595,759 shares during the first quarter, bringing its total ownership to about 1.63%, valued at $150.98 million.
• Rexford Industrial Realty recently announced a quarterly dividend of $0.43, resulting in an annualized dividend yield of 4.5%, while the company's dividend payout ratio is currently 127.41%.
• Various analysts have recently adjusted their price targets for Rexford Industrial Realty, with average expectations now at $39.82, reflecting mixed ratings including two buys, seven holds, and two sells.

JPMorgan Chase & Co. lifted its position in shares of Rexford Industrial Realty, Inc. (NYSE:REXR - Free Report) by 18.3% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,856,451 shares of the real estate investment trust's stock after buying an additional 595,759 shares during the period. JPMorgan Chase & Co. owned approximately 1.63% of Rexford Industrial Realty worth $150,980,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its holdings in 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 purchasing an additional 779,095 shares during the last quarter. Massachusetts Financial Services Co. MA increased its holdings in Rexford Industrial Realty by 130.2% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 7,751,922 shares of the real estate investment trust's stock valued at $303,488,000 after purchasing an additional 4,384,624 shares during the last quarter. Centersquare Investment Management LLC increased its holdings in Rexford Industrial Realty by 7.0% in the 1st 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 purchasing an additional 315,869 shares during the last quarter. Rush Island Management LP acquired a new stake in Rexford Industrial Realty in the 4th quarter valued at approximately $132,701,000. Finally, Northern Trust Corp increased its holdings in Rexford Industrial Realty by 94.3% in the 4th quarter. Northern Trust Corp now owns 3,104,624 shares of the real estate investment trust's stock valued at $120,025,000 after purchasing an additional 1,506,779 shares during the last quarter. Institutional investors and hedge funds own 99.52% of the company's stock.

Insiders Place Their Bets

In related news, General Counsel David E. Lanzer sold 26,449 shares of the business'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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.20% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

REXR has been the subject of several research reports. Scotiabank dropped their target price on shares of Rexford Industrial Realty from $39.00 to $37.00 and set a "sector perform" rating for the company in a report on Monday, May 12th. JPMorgan Chase & Co. dropped their price target on shares of Rexford Industrial Realty from $44.00 to $37.00 and set a "neutral" rating for the company in a research note on Thursday, April 24th. Wells Fargo & Company dropped 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 note on Monday, May 19th. Truist Financial dropped their price target on shares of Rexford Industrial Realty from $44.00 to $37.00 and set a "buy" rating for the company in a research note on Thursday, May 1st. Finally, Evercore ISI downgraded shares of Rexford Industrial Realty from an "outperform" rating to an "in-line" rating and dropped their price target for the stock from $39.00 to $38.00 in a research note on Friday, July 18th. Two research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $39.82.

Rexford Industrial Realty Stock Up 5.0%

Shares of Rexford Industrial Realty stock traded up $1.8720 during trading on Tuesday, hitting $39.5420. 750,348 shares of the stock were exchanged, compared to its average volume of 2,579,953. The stock has a market cap of $9.36 billion, a price-to-earnings ratio of 29.31, a price-to-earnings-growth ratio of 4.23 and a beta of 1.10. The firm's 50-day moving average price is $36.85 and its 200 day moving average price is $36.92. Rexford Industrial Realty, Inc. has a 12-month low of $29.68 and a 12-month high of $52.61. 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 released its quarterly earnings data on Wednesday, July 16th. The real estate investment trust reported $0.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.58 by $0.01. The business had revenue of $241.57 million during the quarter, compared to analysts' expectations of $251.72 million. Rexford Industrial Realty had a net margin of 32.04% and a return on equity of 3.62%. The company's revenue for the quarter was up 5.0% on a year-over-year basis. During the same period in the previous year, the company earned $0.60 EPS. Rexford Industrial Realty has set its FY 2025 guidance at 2.370-2.410 EPS. As a group, 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 business also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th will be given a $0.43 dividend. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $1.72 dividend on an annualized basis and a yield of 4.3%. Rexford Industrial Realty's payout ratio is 127.41%.

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.