Nuveen LLC Invests $146.16 Million in Rexford Industrial Realty, Inc. (NYSE:REXR)

Key Points

• Nuveen LLC has invested approximately $146 million in Rexford Industrial Realty, acquiring 3,733,212 shares, which accounts for 1.58% of the company's total stock.
• Several other institutional investors, including JPMorgan Chase & Co. and Cynosure Group LLC, have also increased their stakes in Rexford Industrial Realty, indicating strong institutional interest.
• Rexford Industrial Realty declared a quarterly dividend of $0.43 per share, representing an annualized yield of 4.7%, with the ex-dividend date set for September 30th.

Nuveen LLC acquired a new stake in shares of Rexford Industrial Realty, Inc. (NYSE:REXR - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 3,733,212 shares of the real estate investment trust's stock, valued at approximately $146,155,000. Nuveen LLC owned about 1.58% of Rexford Industrial Realty as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Virtu Financial LLC bought a new position in shares of Rexford Industrial Realty in the first quarter worth approximately $312,000. JPMorgan Chase & Co. lifted its position in Rexford Industrial Realty by 18.3% during the first quarter. JPMorgan Chase & Co. now owns 3,856,451 shares of the real estate investment trust's stock valued at $150,980,000 after buying an additional 595,759 shares during the period. Cynosure Group LLC lifted its position in Rexford Industrial Realty by 6.5% during the first quarter. Cynosure Group LLC now owns 8,440 shares of the real estate investment trust's stock valued at $330,000 after buying an additional 515 shares during the period. Davis Selected Advisers raised its position in shares of Rexford Industrial Realty by 7.1% in the 1st quarter. Davis Selected Advisers now owns 363,620 shares of the real estate investment trust's stock worth $14,236,000 after purchasing an additional 24,030 shares during the last quarter. Finally, Wolverine Asset Management LLC raised its position in shares of Rexford Industrial Realty by 6,291.0% in the 1st quarter. Wolverine Asset Management LLC now owns 6,191 shares of the real estate investment trust's stock worth $242,000 after purchasing an additional 6,291 shares during the last quarter. 99.52% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, General Counsel David E. Lanzer sold 26,449 shares of Rexford Industrial Realty stock in a transaction on Monday, July 21st. The stock was 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 at this link. Insiders own 1.20% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Evercore ISI lowered Rexford Industrial Realty from an "outperform" rating to an "in-line" rating and lowered their price target for the stock from $39.00 to $38.00 in a research report on Friday, July 18th. Barclays lowered their price target on Rexford Industrial Realty from $38.00 to $35.00 and set an "underweight" rating for the company in a research report on Wednesday, April 30th. Truist Financial reduced their price objective on 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 objective on Rexford Industrial Realty from $45.00 to $39.00 and set an "overweight" rating for the company in a report on Monday, May 19th. Finally, Robert W. Baird set a $43.00 price objective on Rexford Industrial Realty in a report on Tuesday, May 6th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the company. According to MarketBeat, Rexford Industrial Realty has a consensus rating of "Hold" and a consensus price target of $39.82.

Rexford Industrial Realty Trading Up 1.1%

Shares of Rexford Industrial Realty stock traded up $0.40 during trading hours on Friday, hitting $38.19. The company's stock had a trading volume of 3,202,532 shares, compared to its average volume of 2,213,541. Rexford Industrial Realty, Inc. has a twelve month low of $29.68 and a twelve month high of $52.61. The firm has a fifty day moving average of $36.83 and a 200-day moving average of $36.99. The stock has a market cap of $9.04 billion, a price-to-earnings ratio of 28.29, a P/E/G ratio of 4.20 and a beta of 1.10. 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 (NYSE:REXR - Get Free Report) last posted its earnings results on Wednesday, July 16th. The real estate investment trust reported $0.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.58 by $0.01. The firm had revenue of $241.57 million for the quarter, compared to analyst estimates 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 was up 5.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.60 EPS. Research analysts forecast that Rexford Industrial Realty, Inc. will post 2.38 EPS for the current year.

Rexford Industrial Realty Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Tuesday, September 30th will be given a dividend of $0.43 per share. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $1.72 annualized dividend and a yield of 4.5%. Rexford Industrial Realty's dividend payout ratio (DPR) is presently 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.