Rexford Industrial Realty, Inc. $REXR Shares Sold by Presima Securities ULC

Key Points

• Presima Securities ULC sold 317,305 shares of Rexford Industrial Realty, reducing its holdings by 77.2%, leaving it with 93,937 shares valued at approximately $3.68 million.
• Rexford Industrial Realty's most recent dividend of $0.43 will be paid on October 15th, resulting in an annualized dividend of $1.72 and a yield of 4.0%.
• Analysts have varying projections for Rexford Industrial Realty, with a consensus rating of "Hold" and an average price target of $41.36, reflecting differing views on the stock's future performance.

Presima Securities ULC reduced its position in Rexford Industrial Realty, Inc. (NYSE:REXR - Free Report) by 77.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 93,937 shares of the real estate investment trust's stock after selling 317,305 shares during the quarter. Rexford Industrial Realty accounts for approximately 0.8% of Presima Securities ULC's holdings, making the stock its 18th biggest holding. Presima Securities ULC's holdings in Rexford Industrial Realty were worth $3,678,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in REXR. M&T Bank Corp raised its holdings in shares of 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 buying an additional 317 shares during the period. Private Trust Co. NA grew its position in Rexford Industrial Realty by 95.6% in the 1st quarter. Private Trust Co. NA now owns 757 shares of the real estate investment trust's stock valued at $30,000 after acquiring an additional 370 shares during the last quarter. Federated Hermes Inc. increased its stake 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 during the period. Bessemer Group Inc. lifted its position 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 worth $29,000 after purchasing an additional 405 shares during the last quarter. Finally, Securian Asset Management Inc. boosted its stake in shares of Rexford Industrial Realty by 3.0% during the first quarter. Securian Asset Management Inc. now owns 17,282 shares of the real estate investment trust's stock valued at $677,000 after purchasing an additional 501 shares during the period. Institutional investors own 99.52% of the company's stock.

Analyst Ratings Changes

A number of brokerages recently weighed in on REXR. Wells Fargo & Company decreased their price objective 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. Industrial Alliance Securities set a $39.00 target price on shares of Rexford Industrial Realty in a research report on Monday. Scotiabank boosted their price target on Rexford Industrial Realty from $40.00 to $43.00 and gave the company a "sector perform" rating in a report on Thursday, September 4th. Mizuho raised their price objective on Rexford Industrial Realty from $37.00 to $40.00 and gave the stock a "neutral" rating in a report on Monday. Finally, Evercore ISI upped their target price on Rexford Industrial Realty from $38.00 to $39.00 and gave the stock an "in-line" rating in a report on Monday. Two research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $40.55.

Rexford Industrial Realty Stock Up 0.0%

Shares of NYSE REXR traded up $0.01 during trading hours on Wednesday, hitting $42.73. 3,050,657 shares of the stock were exchanged, compared to its average volume of 2,669,343. Rexford Industrial Realty, Inc. has a 12 month low of $29.68 and a 12 month high of $52.37. The firm has a fifty day moving average price of $38.41 and a 200-day moving average price of $37.04. The company has a quick ratio of 5.59, a current ratio of 5.59 and a debt-to-equity ratio of 0.37. The company has a market cap of $10.11 billion, a PE ratio of 17.95, a PEG ratio of 4.74 and a beta of 1.13.

Rexford Industrial Realty (NYSE:REXR - Get Free Report) last released its quarterly 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 business had revenue of $241.57 million for the quarter, compared to analyst estimates of $251.72 million. Rexford Industrial Realty had a net margin of 32.04% and a return on equity of 3.62%. The business's revenue for the quarter was up 5.0% on a year-over-year basis. During the same period in the previous year, the company earned $0.60 earnings per share. Rexford Industrial Realty has set its FY 2025 guidance at 2.370-2.410 EPS. On average, sell-side analysts expect that Rexford Industrial Realty, Inc. will post 2.38 EPS for the current year.

Rexford Industrial Realty Dividend Announcement

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

Insiders Place Their Bets

In other news, General Counsel David E. Lanzer sold 26,449 shares of the business's stock in a transaction dated Monday, July 21st. The stock was sold at an average price of $36.87, for a total transaction of $975,174.63. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.20% of the company's stock.

About Rexford Industrial Realty

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.