Price T Rowe Associates Inc. MD Has $1.07 Billion Stake in Rexford Industrial Realty, Inc. $REXR

Key Points

• Price T Rowe Associates Inc. MD increased its stake in Rexford Industrial Realty, now owning 27,443,472 shares, reflecting a 1.7% growth in the first quarter, valued at over $1 billion.
• Rexford Industrial Realty announced a $0.43 quarterly dividend, resulting in an annualized dividend of $1.72 and a yield of 4.4%.
• Several analysts have recently adjusted their ratings and price targets for Rexford Industrial Realty, with the consensus target setting at $40.27, indicating a "Hold" rating from overall analyst evaluations.

Price T Rowe Associates Inc. MD increased its position in shares of Rexford Industrial Realty, Inc. (NYSE:REXR - Free Report) by 1.7% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 27,443,472 shares of the real estate investment trust's stock after buying an additional 445,743 shares during the period. Price T Rowe Associates Inc. MD owned 11.59% of Rexford Industrial Realty worth $1,074,413,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in shares of Rexford Industrial Realty by 2.6% in the first quarter. Vanguard Group Inc. now owns 30,711,076 shares of the real estate investment trust's stock valued at $1,202,339,000 after buying an additional 779,095 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in Rexford Industrial Realty by 130.2% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 7,751,922 shares of the real estate investment trust's stock valued at $303,488,000 after purchasing an additional 4,384,624 shares during the last quarter. Centersquare Investment Management LLC lifted its holdings in Rexford Industrial Realty by 7.0% during the 1st quarter. Centersquare Investment Management LLC now owns 4,808,035 shares of the real estate investment trust's stock valued at $188,235,000 after purchasing an additional 315,869 shares during the last quarter. JPMorgan Chase & Co. boosted its position in Rexford Industrial Realty by 18.3% during the first quarter. JPMorgan Chase & Co. now owns 3,856,451 shares of the real estate investment trust's stock worth $150,980,000 after purchasing an additional 595,759 shares during the period. Finally, Nuveen LLC acquired a new position in shares of Rexford Industrial Realty in the first quarter valued at $146,155,000. Institutional investors and hedge funds own 99.52% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on REXR. Barclays cut their target price on shares of Rexford Industrial Realty from $38.00 to $35.00 and set an "underweight" rating for the company in a research note on Wednesday, April 30th. Truist Financial boosted 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. Scotiabank dropped their price target on Rexford Industrial Realty from $39.00 to $37.00 and set a "sector perform" rating for the company in a report on Monday, May 12th. Robert W. Baird set a $43.00 price objective on Rexford Industrial Realty in a report on Tuesday, May 6th. Finally, Evercore ISI cut Rexford Industrial Realty from an "outperform" rating to an "in-line" rating and lowered their price objective for the stock from $39.00 to $38.00 in a research report on Friday, July 18th. Two equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, Rexford Industrial Realty currently has a consensus rating of "Hold" and a consensus price target of $40.27.

Insider Activity

In related 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 shares were sold at an average price of $36.87, for a total transaction of $975,174.63. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 1.20% of the company's stock.

Rexford Industrial Realty Price Performance

Shares of REXR traded up $1.3310 during midday trading on Friday, hitting $40.3910. The company's stock had a trading volume of 1,424,434 shares, compared to its average volume of 2,071,634. The company has a quick ratio of 5.59, a current ratio of 5.59 and a debt-to-equity ratio of 0.37. Rexford Industrial Realty, Inc. has a one year low of $29.68 and a one year high of $52.61. The stock has a market capitalization of $9.56 billion, a price-to-earnings ratio of 29.92, a price-to-earnings-growth ratio of 4.49 and a beta of 1.10. The company's fifty day simple moving average is $37.07 and its two-hundred day simple moving average is $36.89.

Rexford Industrial Realty (NYSE:REXR - Get Free Report) last announced its quarterly earnings data on Wednesday, July 16th. The real estate investment trust reported $0.59 earnings per share for the quarter, topping the consensus estimate of $0.58 by $0.01. Rexford Industrial Realty had a return on equity of 3.62% and a net margin of 32.04%.The business had revenue of $241.57 million during the quarter, compared to the consensus estimate of $251.72 million. During the same period in the prior year, the company earned $0.60 EPS. Rexford Industrial Realty's revenue for the quarter was up 5.0% on a year-over-year basis. Rexford Industrial Realty has set its FY 2025 guidance at 2.370-2.410 EPS. As a group, equities analysts expect 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 declared a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th will be issued a dividend of $0.43 per share. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $1.72 annualized dividend and a dividend yield of 4.3%. Rexford Industrial Realty's payout ratio is 127.41%.

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.