Rexford Industrial Realty, Inc. $REXR Shares Purchased by Legal & General Group Plc

Key Points

• Legal & General Group Plc increased its stake in Rexford Industrial Realty by 12.2% in the fourth quarter, holding 2.73 million shares worth about $105.8 million.
• Wall Street sentiment is mixed: analysts have a consensus Hold rating with an average price target of $41.69, even as several firms trimmed their targets.
• Rexford reported Q1 earnings of $0.38 per share, topping estimates, and declared a quarterly dividend of $0.435 per share, implying a 4.8% annualized yield.

Legal & General Group Plc boosted its position in Rexford Industrial Realty, Inc. (NYSE:REXR - Free Report) by 12.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,731,914 shares of the real estate investment trust's stock after acquiring an additional 296,506 shares during the quarter. Legal & General Group Plc owned 1.17% of Rexford Industrial Realty worth $105,780,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. V Square Quantitative Management LLC acquired a new position in Rexford Industrial Realty in the fourth quarter valued at $31,000. Vision Financial Markets LLC acquired a new position in Rexford Industrial Realty in the third quarter valued at $33,000. Wiser Advisor Group LLC acquired a new position in Rexford Industrial Realty in the third quarter valued at $34,000. Fideuram Intesa Sanpaolo Private Banking S.P.A. acquired a new position in Rexford Industrial Realty in the fourth quarter valued at $34,000. Finally, Allworth Financial LP boosted its holdings in Rexford Industrial Realty by 140.3% in the third quarter. Allworth Financial LP now owns 983 shares of the real estate investment trust's stock valued at $40,000 after acquiring an additional 574 shares during the last quarter. Institutional investors and hedge funds own 99.52% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. Cantor Fitzgerald reduced their target price on Rexford Industrial Realty from $50.00 to $45.00 and set an "overweight" rating on the stock in a report on Friday, February 6th. Truist Financial cut their price objective on Rexford Industrial Realty from $40.00 to $38.00 and set a "buy" rating on the stock in a research report on Thursday, May 21st. Scotiabank cut their price objective on Rexford Industrial Realty from $39.00 to $38.00 and set a "sector perform" rating on the stock in a research report on Thursday, May 21st. Weiss Ratings reissued a "hold (c-)" rating on shares of Rexford Industrial Realty in a research report on Tuesday, May 12th. Finally, Robert W. Baird set a $40.00 price objective on Rexford Industrial Realty in a research report on Tuesday, February 17th. Four investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $41.69.

Insider Transactions at Rexford Industrial Realty

In related news, General Counsel David E. Lanzer sold 33,299 shares of the stock in a transaction dated Tuesday, April 28th. The stock was sold at an average price of $35.47, for a total value of $1,181,115.53. Following the completion of the transaction, the general counsel owned 33,299 shares of the company's stock, valued at approximately $1,181,115.53. This represents a 50.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Michael S. Frankel sold 23,132 shares of the stock in a transaction dated Tuesday, March 17th. The shares were sold at an average price of $35.29, for a total value of $816,328.28. Following the completion of the transaction, the chief executive officer directly owned 560,406 shares of the company's stock, valued at $19,776,727.74. This represents a 3.96% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 1.80% of the company's stock.

Rexford Industrial Realty Trading Down 0.9%

NYSE:REXR opened at $36.04 on Friday. The business's 50-day moving average is $35.03 and its two-hundred day moving average is $37.82. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.50 and a quick ratio of 1.50. Rexford Industrial Realty, Inc. has a 12 month low of $32.14 and a 12 month high of $44.38. The firm has a market capitalization of $8.14 billion, a PE ratio of 38.76, a price-to-earnings-growth ratio of 1.52 and a beta of 1.23.

Rexford Industrial Realty (NYSE:REXR - Get Free Report) last released its quarterly earnings data on Thursday, April 23rd. The real estate investment trust reported $0.38 EPS for the quarter, beating the consensus estimate of $0.27 by $0.11. Rexford Industrial Realty had a return on equity of 2.64% and a net margin of 23.25%.The company had revenue of $242.14 million for the quarter, compared to analyst estimates of $243.79 million. During the same period last year, the company posted $0.62 earnings per share. The firm's revenue was down 2.9% compared to the same quarter last year. Rexford Industrial Realty has set its FY 2026 guidance at 2.370-2.42 EPS. Research analysts predict that Rexford Industrial Realty, Inc. will post 2.4 earnings per share for the current fiscal year.

Rexford Industrial Realty Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th will be issued a $0.435 dividend. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $1.74 dividend on an annualized basis and a yield of 4.8%. Rexford Industrial Realty's dividend payout ratio is currently 187.10%.

Rexford Industrial Realty Profile

Rexford Industrial Realty, Inc NYSE: REXR is a real estate investment trust (REIT) specializing in the acquisition, ownership and operation of industrial properties in Southern California. The company's portfolio is concentrated in infill locations across key supply-chain markets, where it targets modern distribution centers, logistics facilities and light manufacturing spaces. Rexford's strategy emphasizes buildings that offer proximity to major transportation routes and labor pools, catering to tenants in e-commerce, third-party logistics and manufacturing industries.

Since its founding in 2013, Rexford Industrial Realty has executed a disciplined growth plan driven by property acquisitions, selective development projects and strategic value-add initiatives.

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