Rexford Industrial Realty, Inc. $REXR Shares Acquired by Resona Asset Management Co. Ltd.

Key Points

• Resona Asset Management Co. Ltd. increased its stake in Rexford Industrial Realty by 12.3%, holding 99,174 shares valued at approximately $3.9 million.
• Rexford Industrial Realty will distribute a quarterly dividend of $0.43 on October 15th, resulting in an annualized yield of 4.5%.
• The company recently reported earnings of $0.59 EPS, exceeding estimates, but its revenue fell short of expectations at $241.57 million.

Resona Asset Management Co. Ltd. increased its position in shares of Rexford Industrial Realty, Inc. (NYSE:REXR - Free Report) by 12.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 99,174 shares of the real estate investment trust's stock after acquiring an additional 10,838 shares during the quarter. Resona Asset Management Co. Ltd.'s holdings in Rexford Industrial Realty were worth $3,907,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Teacher Retirement System of Texas raised its position in shares of Rexford Industrial Realty by 198.3% in the 1st quarter. Teacher Retirement System of Texas now owns 39,028 shares of the real estate investment trust's stock valued at $1,528,000 after purchasing an additional 25,945 shares during the last quarter. GAMMA Investing LLC increased its stake in Rexford Industrial Realty by 211.2% during the 1st quarter. GAMMA Investing LLC now owns 1,441 shares of the real estate investment trust's stock valued at $56,000 after purchasing an additional 978 shares in the last quarter. 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 last quarter. Bessemer Group Inc. lifted 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 worth $29,000 after buying an additional 405 shares during the period. Finally, Oppenheimer Asset Management Inc. lifted its stake in shares of Rexford Industrial Realty by 40.5% during the first quarter. Oppenheimer Asset Management Inc. now owns 36,792 shares of the real estate investment trust's stock worth $1,440,000 after buying an additional 10,603 shares during the period. Hedge funds and other institutional investors own 99.52% of the company's stock.

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 transaction of $975,174.63. The transaction was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 1.20% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. Scotiabank cut their price objective on Rexford Industrial Realty from $39.00 to $37.00 and set a "sector perform" rating on the stock in a report on Monday, May 12th. Wells Fargo & Company dropped their target price on Rexford Industrial Realty from $45.00 to $39.00 and set an "overweight" rating on the stock in a research report on Monday, May 19th. Evercore ISI lowered shares of Rexford Industrial Realty from an "outperform" rating to an "in-line" rating and reduced their price target for the stock from $39.00 to $38.00 in a research report on Friday, July 18th. JPMorgan Chase & Co. decreased their price objective on shares of Rexford Industrial Realty from $44.00 to $37.00 and set a "neutral" rating for the company in a research note on Thursday, April 24th. Finally, Truist Financial upped their price objective on shares of Rexford Industrial Realty from $37.00 to $42.00 and gave the company a "buy" rating in a report on Wednesday. Two analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Rexford Industrial Realty currently has a consensus rating of "Hold" and a consensus price target of $40.27.

Rexford Industrial Realty Price Performance

Shares of Rexford Industrial Realty stock traded down $0.2760 on Thursday, hitting $39.0640. The company's stock had a trading volume of 148,546 shares, compared to its average volume of 2,580,540. The company has a market capitalization of $9.25 billion, a price-to-earnings ratio of 28.91, a price-to-earnings-growth ratio of 4.38 and a beta of 1.10. Rexford Industrial Realty, Inc. has a 1 year low of $29.68 and a 1 year high of $52.61. 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 fifty day moving average price of $36.95 and a 200-day moving average price of $36.95.

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 earnings per share (EPS) 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 for the quarter, compared to the consensus estimate of $251.72 million. During the same period last year, the firm posted $0.60 earnings per share. The company's revenue was up 5.0% compared to the same quarter last year. Rexford Industrial Realty has set its FY 2025 guidance at 2.370-2.410 EPS. As a group, sell-side 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 business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th will be given a dividend of $0.43 per share. The ex-dividend date is Tuesday, September 30th. This represents a $1.72 dividend on an annualized basis and a yield of 4.4%. Rexford Industrial Realty's dividend payout ratio (DPR) is presently 127.41%.

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.