Norges Bank Buys New Shares in Rexford Industrial Realty, Inc. $REXR

Key Points

• Norges Bank disclosed a new fourth-quarter stake in Rexford Industrial Realty, buying 1,905,402 shares worth about $73.8 million and representing 0.82% of the company.
• Several insiders sold shares recently, including CEO Michael S. Frankel and General Counsel David E. Lanzer, while institutional investors own 99.52% of the stock overall.
• Rexford reported Q1 earnings of $0.38 per share, topping estimates, and also announced a quarterly dividend of $0.435 per share, implying a 5.1% annualized yield.

Norges Bank bought a new stake in Rexford Industrial Realty, Inc. (NYSE:REXR - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 1,905,402 shares of the real estate investment trust's stock, valued at approximately $73,777,000. Norges Bank owned 0.82% of Rexford Industrial Realty as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of REXR. V Square Quantitative Management LLC purchased a new stake in Rexford Industrial Realty in the fourth quarter valued at approximately $31,000. Vision Financial Markets LLC purchased a new stake in Rexford Industrial Realty in the third quarter valued at approximately $33,000. Fideuram Intesa Sanpaolo Private Banking S.P.A. purchased a new stake in Rexford Industrial Realty in the fourth quarter valued at approximately $34,000. Wiser Advisor Group LLC purchased a new stake in Rexford Industrial Realty during the third quarter worth approximately $34,000. Finally, Allworth Financial LP grew its stake in Rexford Industrial Realty by 140.3% during the third quarter. Allworth Financial LP now owns 983 shares of the real estate investment trust's stock worth $40,000 after buying an additional 574 shares during the period. 99.52% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Rexford Industrial Realty

In other news, CEO Michael S. Frankel sold 23,132 shares of the company's stock in a transaction on Tuesday, March 17th. The shares were sold at an average price of $35.29, for a total value of $816,328.28. Following the completion of the transaction, the chief executive officer directly owned 560,406 shares in the company, valued at approximately $19,776,727.74. This represents a 3.96% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, General Counsel David E. Lanzer sold 33,299 shares of the company's stock in a transaction on Tuesday, April 28th. The shares were sold at an average price of $35.47, for a total transaction of $1,181,115.53. Following the completion of the transaction, the general counsel owned 33,299 shares of the company's stock, valued at $1,181,115.53. This trade represents a 50.00% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 1.80% of the stock is currently owned by corporate insiders.

Rexford Industrial Realty Price Performance

Shares of REXR stock opened at $34.07 on Friday. The company has a market capitalization of $7.69 billion, a PE ratio of 36.63, a price-to-earnings-growth ratio of 1.42 and a beta of 1.21. The firm has a fifty day simple moving average of $35.07 and a 200-day simple moving average of $37.55. The company has a current ratio of 1.50, a quick ratio of 1.50 and a debt-to-equity ratio of 0.38. Rexford Industrial Realty, Inc. has a twelve month low of $32.14 and a twelve month high of $44.38.

Rexford Industrial Realty (NYSE:REXR - Get Free Report) last announced its earnings results on Thursday, April 23rd. The real estate investment trust reported $0.38 earnings per share for the quarter, beating the consensus estimate of $0.27 by $0.11. The business had revenue of $242.14 million during the quarter, compared to the consensus estimate of $243.79 million. Rexford Industrial Realty had a net margin of 23.25% and a return on equity of 2.64%. The business's quarterly revenue was down 2.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.62 earnings per share. Rexford Industrial Realty has set its FY 2026 guidance at 2.370-2.42 EPS. Equities research analysts anticipate that Rexford Industrial Realty, Inc. will post 2.4 earnings per share for the current fiscal year.

Rexford Industrial Realty Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th will be paid a $0.435 dividend. The ex-dividend date is Tuesday, June 30th. This represents a $1.74 annualized dividend and a dividend yield of 5.1%. Rexford Industrial Realty's dividend payout ratio is 187.10%.

Analyst Upgrades and Downgrades

Several research firms have issued reports on REXR. Truist Financial decreased their price objective on shares of Rexford Industrial Realty from $40.00 to $38.00 and set a "buy" rating for the company in a research note on Thursday, May 21st. Citigroup decreased their price objective on shares of Rexford Industrial Realty from $46.00 to $39.00 and set a "neutral" rating for the company in a research note on Friday, February 13th. Wall Street Zen upgraded shares of Rexford Industrial Realty from a "sell" rating to a "hold" rating in a research note on Saturday, May 16th. JPMorgan Chase & Co. decreased their price objective on shares of Rexford Industrial Realty from $42.00 to $39.00 and set a "neutral" rating for the company in a research note on Wednesday, February 18th. Finally, Evercore upgraded shares of Rexford Industrial Realty from an "in-line" rating to an "outperform" rating and set a $40.00 price objective for the company in a research note on Monday, April 13th. Four research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $41.46.

Rexford Industrial Realty Profile

Rexford Industrial Realty, Inc NYSE: REXR is a real estate investment trust (REIT) specializing in the acquisition, ownership and operation of industrial properties in Southern California. The company's portfolio is concentrated in infill locations across key supply-chain markets, where it targets modern distribution centers, logistics facilities and light manufacturing spaces. Rexford's strategy emphasizes buildings that offer proximity to major transportation routes and labor pools, catering to tenants in e-commerce, third-party logistics and manufacturing industries.

Since its founding in 2013, Rexford Industrial Realty has executed a disciplined growth plan driven by property acquisitions, selective development projects and strategic value-add initiatives.

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