Raymond James Financial Inc. Lowers Stock Holdings in Rexford Industrial Realty, Inc. $REXR

Key Points

• Raymond James Financial Inc. reduced its holdings in Rexford Industrial Realty by 15.1%, now owning approximately 259,854 shares valued at $10.17 million.
• The company has reported a quarterly dividend of $0.43, equating to an annualized dividend yield of 4.1%, with the payout date set for October 15th.
• Analysts have generally rated Rexford Industrial Realty as a Hold, with a consensus target price of $40.55 per share amidst varied price targets set by different firms.

Raymond James Financial Inc. reduced its position in shares of Rexford Industrial Realty, Inc. (NYSE:REXR - Free Report) by 15.1% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 259,854 shares of the real estate investment trust's stock after selling 46,136 shares during the quarter. Raymond James Financial Inc. owned about 0.11% of Rexford Industrial Realty worth $10,173,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. MassMutual Private Wealth & Trust FSB increased its holdings in Rexford Industrial Realty by 332.9% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 736 shares of the real estate investment trust's stock worth $29,000 after purchasing an additional 566 shares during the period. Bessemer Group Inc. boosted its position 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 worth $29,000 after purchasing an additional 405 shares in the last quarter. Private Trust Co. NA boosted its position 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 worth $30,000 after purchasing an additional 370 shares in the last quarter. Caitong International Asset Management Co. Ltd boosted its position 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 worth $42,000 after purchasing an additional 800 shares in the last quarter. Finally, GAMMA Investing LLC lifted its position in Rexford Industrial Realty by 211.2% during the 1st quarter. GAMMA Investing LLC now owns 1,441 shares of the real estate investment trust's stock worth $56,000 after acquiring an additional 978 shares during the period. 99.52% of the stock is currently owned by hedge funds and other institutional investors.

Rexford Industrial Realty Stock Up 1.7%

Shares of NYSE REXR traded up $0.69 during mid-day trading on Thursday, hitting $41.66. The company had a trading volume of 1,409,667 shares, compared to its average volume of 2,590,519. Rexford Industrial Realty, Inc. has a 1-year low of $29.68 and a 1-year high of $52.37. The company has a debt-to-equity ratio of 0.37, a current ratio of 5.59 and a quick ratio of 5.59. The company has a market capitalization of $9.86 billion, a PE ratio of 30.87, a price-to-earnings-growth ratio of 4.60 and a beta of 1.13. The business's 50-day simple moving average is $37.76 and its 200 day simple moving average is $36.97.

Rexford Industrial Realty (NYSE:REXR - Get Free Report) last posted its quarterly earnings results on Wednesday, July 16th. The real estate investment trust reported $0.59 earnings per share for the quarter, beating analysts' consensus estimates 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 company had revenue of $241.57 million for the quarter, compared to analysts' expectations of $251.72 million. During the same period last year, the firm 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. On average, analysts predict that Rexford Industrial Realty, Inc. will post 2.38 earnings per share for the current year.

Rexford Industrial Realty Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders 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 4.1%. Rexford Industrial Realty's dividend payout ratio (DPR) is presently 127.41%.

Insider Activity

In related news, General Counsel David E. Lanzer sold 26,449 shares of the firm's stock in a transaction dated Monday, July 21st. The stock was sold at an average price of $36.87, for a total transaction of $975,174.63. The transaction was disclosed in a document filed with the SEC, which is available at this link. 1.20% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. Industrial Alliance Securities set a $44.00 price target on Rexford Industrial Realty in a research report on Tuesday. Evercore ISI cut Rexford Industrial Realty from an "outperform" rating to an "in-line" rating and reduced their price target for the stock from $39.00 to $38.00 in a report on Friday, July 18th. Truist Financial upped their price target on Rexford Industrial Realty from $37.00 to $42.00 and gave the stock a "buy" rating in a report on Wednesday, August 20th. Wells Fargo & Company cut their price objective on Rexford Industrial Realty from $45.00 to $39.00 and set an "overweight" rating for the company in a research note on Monday, May 19th. Finally, Scotiabank upped their price target on Rexford Industrial Realty from $40.00 to $43.00 and gave the company a "sector perform" rating in a research report on Thursday. Two research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $41.36.

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.