Rexford Industrial Realty, Inc. $REXR is NFJ Investment Group LLC's 3rd Largest Position

Key Points

• NFJ Investment Group LLC reduced its stake in Rexford Industrial Realty by 16.8%, selling 330,531 shares, which now accounts for 2.2% of its portfolio.
• Rexford Industrial Realty announced a quarterly dividend of $0.43 per share, with an annualized yield of 4.1%, despite a payout ratio of 127.41%.
• Recently, various analysts have adjusted their target prices for Rexford Industrial Realty's shares, with a consensus rating of "Hold" and an average price target of $41.36.

NFJ Investment Group LLC reduced its holdings in shares of Rexford Industrial Realty, Inc. (NYSE:REXR - Free Report) by 16.8% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,642,285 shares of the real estate investment trust's stock after selling 330,531 shares during the quarter. Rexford Industrial Realty accounts for 2.2% of NFJ Investment Group LLC's portfolio, making the stock its 3rd biggest holding. NFJ Investment Group LLC owned about 0.69% of Rexford Industrial Realty worth $64,295,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of Rexford Industrial Realty by 403.6% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 690 shares of the real estate investment trust's stock valued at $27,000 after purchasing an additional 553 shares in the last quarter. MassMutual Private Wealth & Trust FSB lifted its holdings in shares of Rexford Industrial Realty by 332.9% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 736 shares of the real estate investment trust's stock valued at $29,000 after purchasing an additional 566 shares in the last quarter. Bessemer Group Inc. lifted its holdings in shares of Rexford Industrial Realty by 118.4% during the first 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 in the last quarter. Private Trust Co. NA lifted its holdings in shares of 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 valued at $30,000 after purchasing an additional 370 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd lifted its holdings in shares of Rexford Industrial Realty by 280.7% during the first quarter. Caitong International Asset Management Co. Ltd now owns 1,085 shares of the real estate investment trust's stock valued at $42,000 after purchasing an additional 800 shares in the last quarter. 99.52% of the stock is owned by institutional investors.

Rexford Industrial Realty Stock Performance

Shares of NYSE REXR traded up $0.77 during trading on Friday, hitting $42.85. The company had a trading volume of 4,099,046 shares, compared to its average volume of 2,486,672. The stock has a 50 day simple moving average of $38.01 and a 200 day simple moving average of $36.94. The company has a debt-to-equity ratio of 0.37, a quick ratio of 5.59 and a current ratio of 5.59. Rexford Industrial Realty, Inc. has a 12 month low of $29.68 and a 12 month high of $52.37. The firm has a market capitalization of $10.14 billion, a P/E ratio of 31.74, a price-to-earnings-growth ratio of 4.76 and a beta of 1.13.

Rexford Industrial Realty (NYSE:REXR - Get Free Report) last posted its quarterly earnings data on Wednesday, July 16th. The real estate investment trust reported $0.59 EPS for the quarter, topping 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 firm had revenue of $241.57 million for the quarter, compared to the consensus estimate of $251.72 million. During the same quarter last year, the company earned $0.60 earnings per share. The business's revenue for the quarter was up 5.0% compared to the same quarter last year. Rexford Industrial Realty has set its FY 2025 guidance at 2.370-2.410 EPS. As a group, analysts anticipate that Rexford Industrial Realty, Inc. will post 2.38 earnings per share for the current year.

Rexford Industrial Realty Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders 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 annualized dividend and a dividend yield of 4.0%. Rexford Industrial Realty's dividend payout ratio (DPR) is 127.41%.

Insider Activity at Rexford Industrial Realty

In other news, General Counsel David E. Lanzer sold 26,449 shares of the firm'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 transaction was disclosed in a filing with the SEC, which is available at the SEC website. 1.20% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of research analysts have recently issued reports on REXR shares. Evercore ISI downgraded Rexford Industrial Realty from an "outperform" rating to an "in-line" rating and lowered their price target for the company from $39.00 to $38.00 in a report on Friday, July 18th. Scotiabank increased their target price on Rexford Industrial Realty from $40.00 to $43.00 and gave the company a "sector perform" rating in a report on Thursday. Industrial Alliance Securities set a $44.00 target price on Rexford Industrial Realty in a research report on Tuesday, September 2nd. Wells Fargo & Company cut their price target on 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. Finally, Truist Financial increased their price objective on shares of Rexford Industrial Realty from $37.00 to $42.00 and gave the stock a "buy" rating in a research note on Wednesday, August 20th. Two analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $41.36.

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.