Natixis Advisors LLC Buys 17,607 Shares of Rexford Industrial Realty, Inc. (NYSE:REXR)

Key Points

• Natixis Advisors LLC increased its stake in Rexford Industrial Realty by 52.9%, now owning nearly 51,000 shares valued at approximately $1.99 million as of its latest SEC filing.
• Rexford Industrial Realty recently announced a quarterly dividend of $0.43, representing an annualized yield of 4.7%, with a payout ratio of 127.41%.
• Analysts have mixed ratings for Rexford Industrial Realty, with two sell ratings, seven hold ratings, and two buy ratings, alongside a decreasing average price target of approximately $39.82.

Natixis Advisors LLC increased its stake in Rexford Industrial Realty, Inc. (NYSE:REXR - Free Report) by 52.9% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 50,917 shares of the real estate investment trust's stock after acquiring an additional 17,607 shares during the quarter. Natixis Advisors LLC's holdings in Rexford Industrial Realty were worth $1,993,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Teacher Retirement System of Texas lifted its stake in Rexford Industrial Realty by 198.3% in the first quarter. Teacher Retirement System of Texas now owns 39,028 shares of the real estate investment trust's stock valued at $1,528,000 after buying an additional 25,945 shares during the period. GAMMA Investing LLC lifted its stake in Rexford Industrial Realty by 211.2% in the first quarter. GAMMA Investing LLC now owns 1,441 shares of the real estate investment trust's stock valued at $56,000 after buying an additional 978 shares during the period. M&T Bank Corp lifted its stake in Rexford Industrial Realty by 1.2% in the first quarter. M&T Bank Corp now owns 26,857 shares of the real estate investment trust's stock valued at $1,052,000 after buying an additional 317 shares during the period. Bessemer Group Inc. lifted its stake in Rexford Industrial Realty by 118.4% in the first quarter. Bessemer Group Inc. now owns 747 shares of the real estate investment trust's stock valued at $29,000 after buying an additional 405 shares during the period. Finally, Oppenheimer Asset Management Inc. lifted its stake in Rexford Industrial Realty by 40.5% in the first quarter. Oppenheimer Asset Management Inc. now owns 36,792 shares of the real estate investment trust's stock valued at $1,440,000 after buying an additional 10,603 shares during the period. 99.52% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Rexford Industrial Realty

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

Rexford Industrial Realty Stock Performance

REXR traded up $0.58 during midday trading on Tuesday, reaching $36.99. The company had a trading volume of 1,672,986 shares, compared to its average volume of 2,603,796. 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 stock has a market cap of $8.75 billion, a PE ratio of 27.40, a P/E/G ratio of 4.08 and a beta of 1.10. Rexford Industrial Realty, Inc. has a 12-month low of $29.68 and a 12-month high of $52.61. The business has a 50-day moving average price of $36.67 and a two-hundred day moving average price of $37.03.

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 earnings per share for the quarter, beating analysts' consensus estimates 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 net margin of 32.04% and a return on equity of 3.62%. The company's quarterly revenue was up 5.0% on a year-over-year basis. During the same period in the previous year, the company earned $0.60 earnings per share. On average, sell-side analysts expect 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 paid a dividend of $0.43 per share. The ex-dividend date is Tuesday, September 30th. This represents a $1.72 annualized dividend and a dividend yield of 4.7%. Rexford Industrial Realty's dividend payout ratio is presently 127.41%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. Barclays lowered their target price on Rexford Industrial Realty from $38.00 to $35.00 and set an "underweight" rating on the stock in a research report on Wednesday, April 30th. Truist Financial decreased their target price on shares of Rexford Industrial Realty from $44.00 to $37.00 and set a "buy" rating for the company in a research report on Thursday, May 1st. JPMorgan Chase & Co. decreased their target price on shares of Rexford Industrial Realty from $44.00 to $37.00 and set a "neutral" rating for the company in a research report on Thursday, April 24th. Scotiabank decreased 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 research report on Monday, May 12th. Finally, Wells Fargo & Company lowered their price target on 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. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $39.82.

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.