Rexford Industrial Realty, Inc. $REXR Shares Sold by Boston Partners

Key Points

• Boston Partners drastically reduced its stake in Rexford Industrial Realty, selling 3,092,880 shares and decreasing their ownership by 97.9%, leaving them with just 67,392 shares valued at approximately $2.64 million.
• Insider transactions revealed that General Counsel David E. Lanzer sold 26,449 shares at an average price of $36.87, totaling nearly $975,175.
• Rexford Industrial Realty announced a quarterly dividend of $0.43 per share, representing an annualized yield of 4.5%, with the ex-dividend date set for September 30th.

Boston Partners trimmed its position in shares of Rexford Industrial Realty, Inc. (NYSE:REXR - Free Report) by 97.9% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 67,392 shares of the real estate investment trust's stock after selling 3,092,880 shares during the quarter. Boston Partners' holdings in Rexford Industrial Realty were worth $2,638,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. MassMutual Private Wealth & Trust FSB boosted its stake in shares of Rexford Industrial Realty by 332.9% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 736 shares of the real estate investment trust's stock valued at $29,000 after buying an additional 566 shares during the period. Bessemer Group Inc. boosted its stake in shares of Rexford Industrial Realty by 118.4% in the 1st quarter. Bessemer Group Inc. now owns 747 shares of the real estate investment trust's stock valued at $29,000 after buying an additional 405 shares during the period. Private Trust Co. NA boosted its stake in shares of 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 buying an additional 370 shares during the period. Caitong International Asset Management Co. Ltd boosted its stake in shares of Rexford Industrial Realty by 280.7% in the 1st quarter. Caitong International Asset Management Co. Ltd now owns 1,085 shares of the real estate investment trust's stock valued at $42,000 after buying an additional 800 shares during the period. Finally, GAMMA Investing LLC boosted its stake in shares of Rexford Industrial Realty by 211.2% in the 1st quarter. GAMMA Investing LLC now owns 1,441 shares of the real estate investment trust's stock valued at $56,000 after buying an additional 978 shares during the period. 99.52% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have commented on REXR shares. Truist Financial lifted their price target on Rexford Industrial Realty from $37.00 to $42.00 and gave the stock a "buy" rating in a research report on Wednesday. Barclays reduced their target price on Rexford Industrial Realty from $38.00 to $35.00 and set an "underweight" rating for the company in a report on Wednesday, April 30th. Scotiabank decreased their target price on Rexford Industrial Realty from $39.00 to $37.00 and set a "sector perform" rating on the stock in a research report on Monday, May 12th. Wells Fargo & Company decreased 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. Finally, JPMorgan Chase & Co. decreased their target price on Rexford Industrial Realty from $44.00 to $37.00 and set a "neutral" rating on the stock in a research report on Thursday, April 24th. Two 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 an average rating of "Hold" and an average target price of $40.27.

Rexford Industrial Realty Trading Down 0.3%

Rexford Industrial Realty stock traded down $0.11 during trading on Wednesday, hitting $39.34. The company's stock had a trading volume of 2,171,680 shares, compared to its average volume of 2,596,032. The stock has a market capitalization of $9.31 billion, a price-to-earnings ratio of 29.14, a P/E/G ratio of 4.19 and a beta of 1.10. The stock's fifty day moving average is $36.90 and its 200 day moving average is $36.94. 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.

Rexford Industrial Realty (NYSE:REXR - Get Free Report) last released its quarterly earnings data on Wednesday, July 16th. The real estate investment trust reported $0.59 EPS for the quarter, topping analysts' consensus estimates of $0.58 by $0.01. The company had revenue of $241.57 million for the quarter, compared to the consensus estimate of $251.72 million. Rexford Industrial Realty had a return on equity of 3.62% and a net margin of 32.04%.The company's quarterly revenue was up 5.0% compared to the same quarter last year. During the same period last year, the business posted $0.60 EPS. Rexford Industrial Realty has set its FY 2025 guidance at 2.370-2.410 EPS. As a group, equities research analysts predict that Rexford Industrial Realty, Inc. will post 2.38 EPS for the current year.

Rexford Industrial Realty Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Tuesday, September 30th will be paid a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a yield of 4.4%. The ex-dividend date is Tuesday, September 30th. Rexford Industrial Realty's dividend payout ratio (DPR) is 127.41%.

Insiders Place Their Bets

In other Rexford Industrial Realty news, General Counsel David E. Lanzer sold 26,449 shares of the firm'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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 1.20% of the stock is currently owned by company insiders.

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.