LPL Financial LLC Purchases 47,849 Shares of Rexford Industrial Realty, Inc. (NYSE:REXR)

Key Points

• LPL Financial LLC increased its holdings in Rexford Industrial Realty by 68%, acquiring an additional 47,849 shares and bringing their total to 118,265 shares, valued at approximately $4.63 million.
• General Counsel David E. Lanzer sold 26,449 shares at an average price of $36.87, totaling nearly $975,175, indicating insider activity within the company.
• Analysts have mixed ratings for Rexford Industrial Realty, with two sell ratings, seven hold ratings, and two buy ratings, and a current average target price of $39.82.

LPL Financial LLC increased its position in shares of Rexford Industrial Realty, Inc. (NYSE:REXR - Free Report) by 68.0% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 118,265 shares of the real estate investment trust's stock after buying an additional 47,849 shares during the period. LPL Financial LLC's holdings in Rexford Industrial Realty were worth $4,630,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the company. Utah Retirement Systems boosted its holdings in shares of Rexford Industrial Realty by 0.8% during the 4th quarter. Utah Retirement Systems now owns 36,000 shares of the real estate investment trust's stock worth $1,392,000 after buying an additional 300 shares during the period. M&T Bank Corp boosted its holdings in Rexford Industrial Realty by 1.2% in the 1st quarter. M&T Bank Corp now owns 26,857 shares of the real estate investment trust's stock valued at $1,052,000 after purchasing an additional 317 shares during the period. Private Trust Co. NA boosted its holdings in 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 valued at $30,000 after purchasing an additional 370 shares during the period. Bessemer Group Inc. boosted its holdings in 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 valued at $29,000 after purchasing an additional 405 shares during the period. Finally, Quarry LP boosted its holdings in Rexford Industrial Realty by 18.3% in the 4th quarter. Quarry LP now owns 3,135 shares of the real estate investment trust's stock valued at $121,000 after purchasing an additional 486 shares during the period. 99.52% of the stock is owned by institutional investors.

Insider Buying and Selling at Rexford Industrial Realty

In other Rexford Industrial Realty news, General Counsel David E. Lanzer sold 26,449 shares of the business's stock in a transaction dated 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 filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 1.20% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. Truist Financial reduced 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 report on Thursday, May 1st. 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 report on Monday, May 19th. Evercore ISI downgraded shares of Rexford Industrial Realty from an "outperform" rating to an "in-line" rating and reduced their price target for the company from $39.00 to $38.00 in a report on Friday, July 18th. Robert W. Baird set a $43.00 price target on shares of Rexford Industrial Realty in a report on Tuesday, May 6th. Finally, Barclays reduced their price objective on shares of Rexford Industrial Realty from $38.00 to $35.00 and set an "underweight" rating for the company in a report on Wednesday, April 30th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, Rexford Industrial Realty currently has an average rating of "Hold" and an average target price of $39.82.

Rexford Industrial Realty Trading Up 2.5%

Shares of REXR stock opened at $38.01 on Thursday. Rexford Industrial Realty, Inc. has a 12-month low of $29.68 and a 12-month high of $52.61. The company has a market capitalization of $9.00 billion, a P/E ratio of 28.16, a P/E/G ratio of 4.12 and a beta of 1.10. The firm has a 50-day moving average price of $36.74 and a 200 day moving average price of $37.04. The company has a quick ratio of 5.59, a current ratio of 5.59 and a debt-to-equity ratio of 0.37.

Rexford Industrial Realty (NYSE:REXR - Get Free Report) last announced its earnings results on Wednesday, July 16th. The real estate investment trust reported $0.59 earnings per share for the quarter, topping 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 company had revenue of $241.57 million during the quarter, compared to the consensus estimate of $251.72 million. During the same period in the previous year, the firm posted $0.60 earnings per share. The company's revenue was up 5.0% on a year-over-year basis. Research 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 announced a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Tuesday, September 30th will be paid 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 dividend yield of 4.5%. Rexford Industrial Realty's payout ratio is currently 127.41%.

Rexford Industrial Realty Company 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.

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