Lecap Asset Management Ltd. Makes New Investment in Rexford Industrial Realty, Inc. $REXR

Key Points

• Lecap Asset Management Ltd. has acquired 43,100 shares of Rexford Industrial Realty, Inc., valued at approximately $1.5 million, indicating growing institutional interest in the real estate investment trust.
• Analysts have varied opinions on the stock, with target prices ranging from $35.00 to $42.00 and an average rating of "Hold" based on recent reports.
• Rexford Industrial Realty recently announced a quarterly dividend of $0.43 per share, resulting in an annualized yield of 4.1%, though it has a high payout ratio of 127.41%.

Lecap Asset Management Ltd. bought a new position in Rexford Industrial Realty, Inc. (NYSE:REXR - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 43,100 shares of the real estate investment trust's stock, valued at approximately $1,533,000.

A number of other institutional investors and hedge funds have also modified their holdings of REXR. Northwestern Mutual Wealth Management Co. increased its holdings in shares of Rexford Industrial Realty by 403.6% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 690 shares of the real estate investment trust's stock worth $27,000 after purchasing an additional 553 shares in the last quarter. MassMutual Private Wealth & Trust FSB increased its holdings in shares of Rexford Industrial Realty by 332.9% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 736 shares of the real estate investment trust's stock worth $29,000 after purchasing an additional 566 shares in the last quarter. Bessemer Group Inc. increased its holdings in shares of Rexford Industrial Realty by 118.4% in the 1st quarter. Bessemer Group Inc. now owns 747 shares of the real estate investment trust's stock worth $29,000 after purchasing an additional 405 shares in the last quarter. Private Trust Co. NA increased its holdings in shares of Rexford Industrial Realty by 95.6% in the 1st 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 in the last quarter. Finally, Caitong International Asset Management Co. Ltd increased its holdings in shares of Rexford Industrial Realty by 280.7% in the 1st quarter. Caitong International Asset Management Co. Ltd now owns 1,085 shares of the real estate investment trust's stock worth $42,000 after purchasing an additional 800 shares in the last quarter. Institutional investors own 99.52% of the company's stock.

Insider Activity at Rexford Industrial Realty

In other news, General Counsel David E. Lanzer sold 26,449 shares of the business's stock in a transaction dated Monday, July 21st. The stock was sold at an average price of $36.87, for a total value of $975,174.63. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 1.20% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of research firms have commented on REXR. Barclays lifted their target price on Rexford Industrial Realty from $35.00 to $39.00 and gave the stock an "underweight" rating in a report on Monday, September 15th. Industrial Alliance Securities set a $40.00 price objective on Rexford Industrial Realty in a report on Monday, September 15th. Wall Street Zen raised Rexford Industrial Realty from a "sell" rating to a "hold" rating in a report on Saturday, September 20th. Evercore ISI lifted their price objective on Rexford Industrial Realty from $39.00 to $40.00 and gave the stock an "in-line" rating in a report on Monday, September 15th. Finally, Truist Financial lifted their price objective on Rexford Industrial Realty from $37.00 to $42.00 and gave the stock a "buy" rating in a report on Wednesday, August 20th. Three equities 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. According to MarketBeat, the company presently has an average rating of "Hold" and an average target price of $41.83.

Rexford Industrial Realty Stock Performance

NYSE:REXR opened at $41.86 on Thursday. The stock has a 50-day simple moving average of $40.01 and a two-hundred day simple moving average of $37.24. Rexford Industrial Realty, Inc. has a 52-week low of $29.68 and a 52-week high of $49.60. The company has a debt-to-equity ratio of 0.37, a quick ratio of 5.59 and a current ratio of 5.59. The firm has a market capitalization of $9.91 billion, a PE ratio of 31.00, a P/E/G ratio of 4.56 and a beta of 1.13.

Rexford Industrial Realty (NYSE:REXR - Get Free Report) last released its quarterly earnings results 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. Rexford Industrial Realty had a return on equity of 3.62% and a net margin of 32.04%.The business had revenue of $241.57 million during the quarter, compared to analyst estimates of $251.72 million. During the same quarter in the previous year, the company posted $0.60 earnings per share. Rexford Industrial Realty's revenue for the quarter was up 5.0% on a year-over-year basis. 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 EPS for the current year.

Rexford Industrial Realty Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th will be given a $0.43 dividend. This represents a $1.72 annualized dividend and a dividend yield of 4.1%. The ex-dividend date is Tuesday, September 30th. Rexford Industrial Realty's payout ratio is presently 127.41%.

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.

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.