Rexford Industrial Realty, Inc. $REXR Shares Sold by Russell Investments Group Ltd.

Key Points

• Russell Investments Group Ltd. reduced its holdings in Rexford Industrial Realty by 54.3%, owning 96,871 shares after selling 115,050 shares during the 1st quarter.
• Rexford Industrial Realty plans to pay a $0.43 quarterly dividend on October 15th, with a current annualized yield of 4.3%.
• The company's shares have fluctuated between a 12-month low of $29.68 and a high of $52.61, and it reported earnings per share of $0.59 in its latest quarterly results.

Russell Investments Group Ltd. trimmed its position in Rexford Industrial Realty, Inc. (NYSE:REXR - Free Report) by 54.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 96,871 shares of the real estate investment trust's stock after selling 115,050 shares during the quarter. Russell Investments Group Ltd.'s holdings in Rexford Industrial Realty were worth $3,793,000 as of its most recent filing with the Securities & Exchange Commission.

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

Insiders Place Their Bets

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

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Evercore ISI lowered shares of Rexford Industrial Realty from an "outperform" rating to an "in-line" rating and reduced their target price for the stock from $39.00 to $38.00 in a report on Friday, July 18th. Barclays decreased their price target on Rexford Industrial Realty from $38.00 to $35.00 and set an "underweight" rating on the stock in a report on Wednesday, April 30th. Scotiabank decreased their price target 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. Truist Financial lifted their price objective on Rexford Industrial Realty from $37.00 to $42.00 and gave the company a "buy" rating in a report on Wednesday, August 20th. Finally, Robert W. Baird set a $43.00 price target on shares of Rexford Industrial Realty in a research report on Tuesday, May 6th. Two investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $40.27.

Rexford Industrial Realty Stock Performance

REXR stock traded down $0.06 during midday trading on Tuesday, hitting $40.04. 2,378,294 shares of the stock traded hands, compared to its average volume of 2,571,074. The company has a debt-to-equity ratio of 0.37, a current ratio of 5.59 and a quick ratio of 5.59. Rexford Industrial Realty, Inc. has a 1-year low of $29.68 and a 1-year high of $52.48. The stock's fifty day simple moving average is $37.14 and its 200-day simple moving average is $36.90. The firm has a market cap of $9.48 billion, a P/E ratio of 29.66, a PEG ratio of 4.49 and a beta of 1.10.

Rexford Industrial Realty (NYSE:REXR - Get Free Report) last issued its quarterly earnings results on Wednesday, July 16th. The real estate investment trust reported $0.59 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.58 by $0.01. The company had revenue of $241.57 million for the quarter, compared to the consensus estimate of $251.72 million. Rexford Industrial Realty had a return on equity of 3.62% and a net margin of 32.04%.Rexford Industrial Realty's revenue for the quarter was up 5.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.60 earnings per share. Rexford Industrial Realty has set its FY 2025 guidance at 2.370-2.410 EPS. On average, analysts expect 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 announced 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 dividend on an annualized basis and a dividend yield of 4.3%. Rexford Industrial Realty's dividend payout ratio is presently 127.41%.

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.