PGGM Investments Has $83.73 Million Position in Rexford Industrial Realty, Inc. $REXR

Key Points

• PGGM Investments reduced its stake in Rexford Industrial Realty by 28.7% during the 2nd quarter, holding 2,353,863 shares valued at approximately $83.73 million, which makes it the 26th largest holding in their portfolio.
• Rexford Industrial Realty announced a quarterly dividend of $0.43 per share, with a dividend yield of 4.2% and a payout ratio of 127.41%.
• The company reported earnings of $0.59 per share, beating estimates, while its revenue for the quarter was $241.57 million, slightly below analyst expectations of $251.72 million.

PGGM Investments reduced its position in shares of Rexford Industrial Realty, Inc. (NYSE:REXR - Free Report) by 28.7% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,353,863 shares of the real estate investment trust's stock after selling 948,918 shares during the quarter. Rexford Industrial Realty accounts for 1.5% of PGGM Investments' investment portfolio, making the stock its 26th biggest holding. PGGM Investments owned about 0.99% of Rexford Industrial Realty worth $83,727,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the company. M&T Bank Corp boosted its holdings 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 worth $1,052,000 after purchasing an additional 317 shares in the last quarter. Caitlin John LLC boosted its holdings in Rexford Industrial Realty by 6.4% in the second quarter. Caitlin John LLC now owns 6,027 shares of the real estate investment trust's stock worth $214,000 after purchasing an additional 361 shares in the last quarter. Private Trust Co. NA boosted its holdings in Rexford Industrial Realty by 95.6% in the first quarter. Private Trust Co. NA now owns 757 shares of the real estate investment trust's stock worth $30,000 after purchasing an additional 370 shares in the last quarter. Federated Hermes Inc. boosted its holdings in Rexford Industrial Realty by 2.2% in the first quarter. Federated Hermes Inc. now owns 18,297 shares of the real estate investment trust's stock worth $716,000 after purchasing an additional 388 shares in the last quarter. Finally, Bessemer Group Inc. boosted its holdings 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 worth $29,000 after purchasing an additional 405 shares in the last quarter. 99.52% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Rexford Industrial Realty

In related news, General Counsel David E. Lanzer sold 26,449 shares of the stock in a transaction dated 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 legal 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 Down 1.1%

NYSE REXR opened at $41.07 on Wednesday. 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 firm has a 50-day simple moving average of $39.94 and a 200 day simple moving average of $37.20. Rexford Industrial Realty, Inc. has a twelve month low of $29.68 and a twelve month high of $50.45. The stock has a market cap of $9.72 billion, a PE ratio of 30.42, a PEG ratio of 4.61 and a beta of 1.13.

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 the consensus estimate of $0.58 by $0.01. Rexford Industrial Realty had a net margin of 32.04% and a return on equity of 3.62%. The business had revenue of $241.57 million during the quarter, compared to analysts' expectations of $251.72 million. During the same quarter last year, the company earned $0.60 earnings per share. The firm's revenue was up 5.0% on a year-over-year basis. Rexford Industrial Realty has set its FY 2025 guidance at 2.370-2.410 EPS. On average, research analysts forecast that Rexford Industrial Realty, Inc. will post 2.38 EPS for the current year.

Rexford Industrial Realty Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th will be paid a $0.43 dividend. This represents a $1.72 annualized dividend and a dividend yield of 4.2%. The ex-dividend date is Tuesday, September 30th. Rexford Industrial Realty's dividend payout ratio (DPR) is presently 127.41%.

Wall Street Analyst Weigh In

REXR has been the subject of a number of recent research reports. Truist Financial upped their price objective 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. 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, September 8th. Scotiabank upped their price target on shares of Rexford Industrial Realty from $40.00 to $43.00 and gave the company a "sector perform" rating in a report on Thursday, September 4th. Wall Street Zen upgraded shares of Rexford Industrial Realty from a "sell" rating to a "hold" rating in a report on Saturday, September 20th. Finally, Evercore ISI upped their price target on shares of Rexford Industrial Realty from $39.00 to $40.00 and gave the company an "in-line" rating in a report on Monday, September 15th. Two equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Rexford Industrial Realty has a consensus rating of "Hold" and a consensus target price of $41.09.

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.

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