Reinhart Partners LLC. Sells 20,845 Shares of Rexford Industrial Realty, Inc. $REXR

Key Points

• Reinhart Partners LLC reduced its stake in Rexford Industrial Realty by 7.7% during Q2, now holding 250,867 shares worth $8,923,000 after selling 20,845 shares.
• Several institutional investors increased their holdings in Rexford Industrial Realty, with Vanguard Group Inc. raising its stake by 2.6% to approximately $1.2 billion.
• Analysts have a mixed outlook on Rexford Industrial Realty, with an average price target of $41.09 and a current consensus rating of "Hold".

Reinhart Partners LLC. trimmed its holdings in shares of Rexford Industrial Realty, Inc. (NYSE:REXR - Free Report) by 7.7% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 250,867 shares of the real estate investment trust's stock after selling 20,845 shares during the quarter. Reinhart Partners LLC. owned about 0.11% of Rexford Industrial Realty worth $8,923,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in REXR. Cetera Investment Advisers grew its position in Rexford Industrial Realty by 43.9% during the fourth quarter. Cetera Investment Advisers now owns 11,723 shares of the real estate investment trust's stock worth $453,000 after buying an additional 3,575 shares in the last quarter. Lazard Asset Management LLC purchased a new position in Rexford Industrial Realty during the fourth quarter worth about $961,000. Quantinno Capital Management LP grew its position in Rexford Industrial Realty by 49.5% during the fourth quarter. Quantinno Capital Management LP now owns 20,833 shares of the real estate investment trust's stock worth $805,000 after buying an additional 6,894 shares in the last quarter. ProShare Advisors LLC grew its position in Rexford Industrial Realty by 8.7% during the fourth quarter. ProShare Advisors LLC now owns 10,384 shares of the real estate investment trust's stock worth $401,000 after buying an additional 835 shares in the last quarter. Finally, Tidal Investments LLC grew its position in Rexford Industrial Realty by 20.9% during the fourth quarter. Tidal Investments LLC now owns 207,235 shares of the real estate investment trust's stock worth $8,012,000 after buying an additional 35,802 shares in the last quarter. 99.52% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on REXR shares. Evercore ISI upped their price objective on Rexford Industrial Realty from $39.00 to $40.00 and gave the stock an "in-line" rating in a report on Monday. Barclays upped their price objective on Rexford Industrial Realty from $35.00 to $39.00 and gave the stock an "underweight" rating in a report on Monday. Scotiabank upped their price objective on Rexford Industrial Realty from $40.00 to $43.00 and gave the stock a "sector perform" rating in a report on Thursday, September 4th. Mizuho upped 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, September 8th. Finally, Truist Financial upped their price objective on Rexford Industrial Realty from $37.00 to $42.00 and gave the stock a "buy" rating in a report on Wednesday, August 20th. Two analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $41.09.

Rexford Industrial Realty Trading Up 0.6%

REXR traded up $0.26 during midday trading on Thursday, reaching $42.54. 1,977,559 shares of the company's stock traded hands, compared to its average volume of 2,756,211. The firm has a fifty day moving average of $39.12 and a two-hundred day moving average of $37.13. The stock has a market capitalization of $10.07 billion, a price-to-earnings ratio of 31.51, a P/E/G ratio of 4.69 and a beta of 1.13. The company has a debt-to-equity ratio of 0.37, a current ratio of 5.59 and a quick ratio of 5.59. Rexford Industrial Realty, Inc. has a 52 week low of $29.68 and a 52 week high of $52.37.

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 EPS for the quarter, beating analysts' consensus estimates of $0.58 by $0.01. The business had revenue of $241.57 million during 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 quarterly revenue was up 5.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.60 EPS. Rexford Industrial Realty has set its FY 2025 guidance at 2.370-2.410 EPS. On average, equities analysts anticipate that Rexford Industrial Realty, Inc. will post 2.38 earnings per share for the current fiscal year.

Rexford Industrial Realty Announces Dividend

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 given a dividend of $0.43 per share. The ex-dividend date of this dividend 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 is presently 127.41%.

Insider Buying and Selling

In other Rexford Industrial Realty news, General Counsel David E. Lanzer sold 26,449 shares of the company's stock in a transaction that occurred on Monday, July 21st. The stock was sold at an average price of $36.87, for a total transaction of $975,174.63. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.20% of the stock is owned by insiders.

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.