Rexford Industrial Realty, Inc. $REXR Stake Lowered by Nomura Holdings Inc.

Key Points

• Nomura Holdings Inc. has significantly reduced its stake in Rexford Industrial Realty, Inc. by 77.9%, selling 41,746 shares and owning only 11,818 shares worth approximately $463,000 following this transaction.
• Several hedge funds have been active around Rexford Industrial Realty, with Crestline Management LP increasing its position by 600.4% and other funds also making sizable purchases in the last quarter.
• The company reported earnings of $0.59 per share for the last quarter, slightly beating analyst estimates, and has recently announced a quarterly dividend of $0.43 per share, reflecting a dividend yield of 4.1%.

Nomura Holdings Inc. cut its stake in Rexford Industrial Realty, Inc. (NYSE:REXR - Free Report) by 77.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,818 shares of the real estate investment trust's stock after selling 41,746 shares during the period. Nomura Holdings Inc.'s holdings in Rexford Industrial Realty were worth $463,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Evergreen Capital Management LLC lifted its position in Rexford Industrial Realty by 26.8% in the first quarter. Evergreen Capital Management LLC now owns 10,982 shares of the real estate investment trust's stock worth $430,000 after purchasing an additional 2,318 shares during the period. Landscape Capital Management L.L.C. lifted its holdings in shares of Rexford Industrial Realty by 64.5% in the first quarter. Landscape Capital Management L.L.C. now owns 8,853 shares of the real estate investment trust's stock valued at $347,000 after buying an additional 3,471 shares during the period. Truvestments Capital LLC acquired a new stake in shares of Rexford Industrial Realty in the first quarter valued at $3,030,000. FORA Capital LLC boosted its stake in Rexford Industrial Realty by 13.3% during the first quarter. FORA Capital LLC now owns 10,414 shares of the real estate investment trust's stock valued at $408,000 after buying an additional 1,223 shares in the last quarter. Finally, Comerica Bank grew its holdings in Rexford Industrial Realty by 1.4% during the first quarter. Comerica Bank now owns 104,785 shares of the real estate investment trust's stock worth $4,102,000 after acquiring an additional 1,467 shares during the period. Institutional investors and hedge funds own 99.52% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on REXR shares. Mizuho upped their price target on shares of Rexford Industrial Realty from $37.00 to $40.00 and gave the company a "neutral" rating in a report on Monday. Truist Financial boosted their target price on shares of Rexford Industrial Realty from $37.00 to $42.00 and gave the stock a "buy" rating in a report on Wednesday, August 20th. Wells Fargo & Company reduced their target price 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. Scotiabank lifted their price target on shares of Rexford Industrial Realty from $40.00 to $43.00 and gave the stock a "sector perform" rating in a research report on Thursday, September 4th. Finally, Industrial Alliance Securities set a $39.00 price target on Rexford Industrial Realty in a report on Monday. Two investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, Rexford Industrial Realty currently has an average rating of "Hold" and an average price target of $40.55.

Rexford Industrial Realty Stock Up 0.0%

NYSE:REXR traded up $0.01 during trading hours on Wednesday, hitting $42.73. 3,050,657 shares of the stock traded hands, compared to its average volume of 2,669,343. The firm has a 50 day moving average price of $38.41 and a 200 day moving average price of $37.04. The firm has a market cap of $10.11 billion, a price-to-earnings ratio of 31.65, a PEG ratio of 4.74 and a beta of 1.13. Rexford Industrial Realty, Inc. has a fifty-two week low of $29.68 and a fifty-two week high of $52.37. The company has a current ratio of 5.59, a quick ratio of 5.59 and a debt-to-equity ratio of 0.37.

Rexford Industrial Realty (NYSE:REXR - Get Free Report) last issued its quarterly 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 business had revenue of $241.57 million for the quarter, compared to the consensus estimate of $251.72 million. Rexford Industrial Realty had a return on equity of 3.62% and a net margin of 32.04%.Rexford Industrial Realty's revenue for the quarter was up 5.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.60 earnings per share. Rexford Industrial Realty has set its FY 2025 guidance at 2.370-2.410 EPS. Equities research analysts anticipate that Rexford Industrial Realty, Inc. will post 2.38 earnings per share for the current year.

Rexford Industrial Realty Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th will be issued a $0.43 dividend. The ex-dividend date is Tuesday, September 30th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 4.0%. Rexford Industrial Realty's dividend payout ratio is currently 127.41%.

Insider Activity

In other news, General Counsel David E. Lanzer sold 26,449 shares of the stock in a transaction that occurred on Monday, July 21st. The shares were sold at an average price of $36.87, for a total value of $975,174.63. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.20% of the stock is owned by company insiders.

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.