Rexford Industrial Realty, Inc. $REXR Shares Bought by Whittier Trust Co.

Key Points

• Whittier Trust Co. increased its stake in Rexford Industrial Realty by 17.1%, owning 294,058 shares worth $10,456,000 after acquiring an additional 42,959 shares this quarter.
• Rexford Industrial Realty's stock price recently experienced a decline of 1.9%, opening at $43.43, and the company reported quarterly revenue growth of 4.7% year-over-year with earnings per share of $0.60.
• The company has announced a quarterly dividend of $0.43, representing an annualized dividend yield of 4.0%, with the payout ratio currently at 121.13%.

Whittier Trust Co. lifted its position in Rexford Industrial Realty, Inc. (NYSE:REXR - Free Report) by 17.1% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 294,058 shares of the real estate investment trust's stock after acquiring an additional 42,959 shares during the quarter. Whittier Trust Co. owned 0.12% of Rexford Industrial Realty worth $10,456,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in REXR. GAMMA Investing LLC lifted its holdings 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 worth $56,000 after purchasing an additional 978 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Rexford Industrial Realty by 16.9% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 20,667 shares of the real estate investment trust's stock worth $809,000 after purchasing an additional 2,987 shares during the last quarter. Envestnet Portfolio Solutions Inc. bought a new stake in shares of Rexford Industrial Realty in the 1st quarter worth approximately $208,000. Oppenheimer Asset Management Inc. lifted its holdings in shares of Rexford Industrial Realty by 40.5% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 36,792 shares of the real estate investment trust's stock worth $1,440,000 after purchasing an additional 10,603 shares during the last quarter. Finally, Moran Wealth Management LLC lifted its holdings in shares of Rexford Industrial Realty by 4.0% in the 1st quarter. Moran Wealth Management LLC now owns 22,620 shares of the real estate investment trust's stock worth $886,000 after purchasing an additional 868 shares during the last quarter. Institutional investors own 99.52% of the company's stock.

Rexford Industrial Realty Stock Down 1.9%

Shares of Rexford Industrial Realty stock opened at $43.43 on Wednesday. The business's fifty day moving average price is $41.41 and its two-hundred day moving average price is $37.48. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.95 and a quick ratio of 5.59. The company has a market capitalization of $10.28 billion, a P/E ratio of 30.59, a PEG ratio of 4.89 and a beta of 1.13. Rexford Industrial Realty, Inc. has a 1-year low of $29.68 and a 1-year high of $45.34.

Rexford Industrial Realty (NYSE:REXR - Get Free Report) last announced its earnings results on Wednesday, October 15th. The real estate investment trust reported $0.60 earnings per share for the quarter, beating the consensus estimate of $0.59 by $0.01. The firm had revenue of $246.76 million for the quarter, compared to the consensus estimate of $253.46 million. Rexford Industrial Realty had a return on equity of 3.81% and a net margin of 33.88%.The firm's revenue for the quarter was up 4.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.59 EPS. Rexford Industrial Realty has set its FY 2025 guidance at 2.390-2.410 EPS. As a group, research analysts forecast that Rexford Industrial Realty, Inc. will post 2.38 EPS for the current year.

Rexford Industrial Realty Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 15th. Stockholders of record on Wednesday, December 31st will be paid a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a dividend yield of 4.0%. The ex-dividend date of this dividend is Wednesday, December 31st. Rexford Industrial Realty's payout ratio is currently 121.13%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on REXR. Truist Financial raised their price target on Rexford Industrial Realty from $42.00 to $44.00 and gave the stock a "buy" rating in a report on Wednesday, October 15th. Cantor Fitzgerald began coverage on Rexford Industrial Realty in a report on Wednesday, October 1st. They issued an "overweight" rating and a $50.00 price target on the stock. BNP Paribas downgraded Rexford Industrial Realty to a "neutral" rating in a report on Tuesday. Industrial Alliance Securities set a $40.00 price target on Rexford Industrial Realty in a report on Monday, September 15th. Finally, Weiss Ratings reaffirmed a "hold (c)" rating on shares of Rexford Industrial Realty in a research note on Wednesday, October 8th. Three equities research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Rexford Industrial Realty presently has a consensus rating of "Hold" and a consensus target price of $41.83.

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.

Want to see what other hedge funds are holding REXR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Rexford Industrial Realty, Inc. (NYSE:REXR - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.