Presima Securities ULC Decreases Holdings in Rexford Industrial Realty, Inc. $REXR

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 cut its holdings in Rexford Industrial Realty, Inc. (NYSE:REXR - Free Report) by 77.2% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 93,937 shares of the real estate investment trust's stock after selling 317,305 shares during the period. Rexford Industrial Realty makes up approximately 0.8% of Presima Securities ULC's portfolio, making the stock its 18th biggest position. Presima Securities ULC's holdings in Rexford Industrial Realty were worth $3,678,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in REXR. M&T Bank Corp lifted 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 buying an additional 317 shares during the period. Private Trust Co. NA increased its stake in shares of Rexford Industrial Realty by 95.6% during the first quarter. Private Trust Co. NA now owns 757 shares of the real estate investment trust's stock valued at $30,000 after purchasing an additional 370 shares in the last quarter. Federated Hermes Inc. increased its stake in shares of Rexford Industrial Realty by 2.2% during the first quarter. Federated Hermes Inc. now owns 18,297 shares of the real estate investment trust's stock valued at $716,000 after purchasing an additional 388 shares in the last quarter. Bessemer Group Inc. increased its stake 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 valued at $29,000 after purchasing an additional 405 shares in the last quarter. Finally, Securian Asset Management Inc. grew its stake in shares of Rexford Industrial Realty by 3.0% in the first quarter. Securian Asset Management Inc. now owns 17,282 shares of the real estate investment trust's stock worth $677,000 after acquiring an additional 501 shares during the last quarter. 99.52% of the stock is owned by institutional investors.

Rexford Industrial Realty Stock Up 0.3%

Shares of NYSE REXR traded up $0.11 during trading hours on Friday, hitting $43.64. 751,326 shares of the stock were exchanged, compared to its average volume of 2,619,687. 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 $10.33 billion, a PE ratio of 32.30, a PEG ratio of 4.74 and a beta of 1.13. The firm has a fifty day moving average price of $38.54 and a 200-day moving average price of $37.06. Rexford Industrial Realty, Inc. has a 12 month low of $29.68 and a 12 month high of $52.37.

Rexford Industrial Realty (NYSE:REXR - Get Free Report) last posted its quarterly earnings data on Wednesday, July 16th. The real estate investment trust reported $0.59 EPS for the quarter, topping the consensus estimate of $0.58 by $0.01. The firm had revenue of $241.57 million during 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%. Rexford Industrial Realty's revenue was up 5.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.60 EPS. 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 Announces Dividend

The firm also recently disclosed 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. This represents a $1.72 annualized dividend and a dividend yield of 3.9%. The ex-dividend date of this dividend is Tuesday, September 30th. Rexford Industrial Realty's dividend payout ratio is 127.41%.

Insider Activity at Rexford Industrial Realty

In other news, General Counsel David E. Lanzer sold 26,449 shares of the company's stock in a transaction 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 filing with the SEC, which can be accessed through the SEC website. 1.20% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

REXR has been the topic of a number of recent analyst reports. Truist Financial increased their price target on shares of Rexford Industrial Realty from $37.00 to $42.00 and gave the company a "buy" rating in a report on Wednesday, August 20th. Mizuho lifted their price target on shares of Rexford Industrial Realty from $37.00 to $40.00 and gave the stock a "neutral" rating in a research note on Monday. Wells Fargo & Company dropped their price target on shares of Rexford Industrial Realty from $45.00 to $39.00 and set an "overweight" rating on the stock in a research note 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 note on Thursday, September 4th. Finally, Industrial Alliance Securities set a $39.00 price target on shares of Rexford Industrial Realty in a research note on Monday. Two equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $40.55.

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.