Rexford Industrial Realty, Inc. $REXR Shares Sold by Long Pond Capital LP

Key Points

• Long Pond Capital LP has reduced its holdings in Rexford Industrial Realty by 65.1%, now owning 528,584 shares, making it 1.3% of its portfolio.
• Several institutional investors, including Northwestern Mutual Wealth Management Co. and MassMutual Private Wealth & Trust FSB, have significantly increased their stakes in Rexford Industrial Realty, with increases of 403.6% and 332.9%, respectively.
• Rexford Industrial Realty recently declared a quarterly dividend of $0.43, with a yield of 4.3%, although its payout ratio is high at 127.41%.

Long Pond Capital LP lowered its holdings in shares of Rexford Industrial Realty, Inc. (NYSE:REXR - Free Report) by 65.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 528,584 shares of the real estate investment trust's stock after selling 987,067 shares during the period. Rexford Industrial Realty comprises 1.3% of Long Pond Capital LP's portfolio, making the stock its 22nd largest holding. Long Pond Capital LP owned approximately 0.22% of Rexford Industrial Realty worth $20,694,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in REXR. Northwestern Mutual Wealth Management Co. raised its position in shares of Rexford Industrial Realty by 403.6% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 690 shares of the real estate investment trust's stock valued at $27,000 after buying an additional 553 shares during the last quarter. MassMutual Private Wealth & Trust FSB raised its position in shares of Rexford Industrial Realty by 332.9% in the first 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 last quarter. Bessemer Group Inc. raised its stake in 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 purchasing an additional 405 shares during the period. Private Trust Co. NA raised its stake in Rexford Industrial Realty by 95.6% during the first quarter. Private Trust Co. NA now owns 757 shares of the real estate investment trust's stock worth $30,000 after purchasing an additional 370 shares during the period. Finally, Caitong International Asset Management Co. Ltd raised its stake in Rexford Industrial Realty by 280.7% during the first quarter. Caitong International Asset Management Co. Ltd now owns 1,085 shares of the real estate investment trust's stock worth $42,000 after purchasing an additional 800 shares during the period. Institutional investors and hedge funds own 99.52% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Scotiabank decreased their price objective on shares of Rexford Industrial Realty from $39.00 to $37.00 and set a "sector perform" rating for the company in a research note on Monday, May 12th. Barclays decreased their price objective 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. Robert W. Baird set a $43.00 price objective on shares of Rexford Industrial Realty in a research note on Tuesday, May 6th. Evercore ISI downgraded shares of Rexford Industrial Realty from an "outperform" rating to an "in-line" rating and decreased their price objective for the stock from $39.00 to $38.00 in a research note on Friday, July 18th. Finally, Truist Financial boosted their price objective on shares of Rexford Industrial Realty from $37.00 to $42.00 and gave the stock a "buy" rating in a research note on Wednesday, August 20th. Two 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. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $40.27.

Insider Transactions at Rexford Industrial Realty

In other Rexford Industrial Realty news, General Counsel David E. Lanzer sold 26,449 shares of Rexford Industrial Realty stock in a transaction that occurred on Monday, July 21st. The shares were sold at an average price of $36.87, for a total value of $975,174.63. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 1.20% of the company's stock.

Rexford Industrial Realty Stock Performance

Shares of Rexford Industrial Realty stock opened at $40.3910 on Monday. The firm has a market cap of $9.56 billion, a PE ratio of 29.92, a price-to-earnings-growth ratio of 4.49 and a beta of 1.10. The firm's 50-day simple moving average is $37.07 and its 200-day simple moving average is $36.89. 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, Inc. has a 1 year low of $29.68 and a 1 year high of $52.61.

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 earnings per share for the quarter, topping 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 firm had revenue of $241.57 million for the quarter, compared to analyst estimates of $251.72 million. During the same quarter in the prior year, the business earned $0.60 earnings per share. Rexford Industrial Realty's quarterly revenue 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. Equities analysts forecast that Rexford Industrial Realty, Inc. will post 2.38 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, October 15th. Shareholders of record on Tuesday, September 30th will be given a $0.43 dividend. The ex-dividend date is Tuesday, September 30th. This represents a $1.72 annualized dividend and a 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.

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