Sandler Capital Management Purchases New Shares in Rexford Industrial Realty, Inc. $REXR

Key Points

• Sandler Capital Management acquired a new stake in Rexford Industrial Realty, Inc. ($REXR) by purchasing 6,000 shares valued at approximately $235,000 during the first quarter.
• Institutional investors and hedge funds collectively hold 99.52% of Rexford Industrial Realty's stock, indicating significant institutional interest.
• Rexford Industrial Realty reported a quarterly dividend of $0.43, resulting in an annualized dividend yield of 4.0% and a payout ratio of 127.41%.

Sandler Capital Management bought a new stake in shares of Rexford Industrial Realty, Inc. (NYSE:REXR - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 6,000 shares of the real estate investment trust's stock, valued at approximately $235,000.

Several other large investors also recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its position in Rexford Industrial Realty by 2.6% during 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 period. Price T Rowe Associates Inc. MD boosted its position in shares of Rexford Industrial Realty by 1.7% in the first quarter. Price T Rowe Associates Inc. MD now owns 27,443,472 shares of the real estate investment trust's stock worth $1,074,413,000 after purchasing an additional 445,743 shares during the period. Massachusetts Financial Services Co. MA boosted its position in shares of Rexford Industrial Realty by 130.2% in the first 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 purchasing an additional 4,384,624 shares during the period. Centersquare Investment Management LLC boosted its position in shares of Rexford Industrial Realty by 7.0% in the first quarter. Centersquare Investment Management LLC now owns 4,808,035 shares of the real estate investment trust's stock worth $188,235,000 after purchasing an additional 315,869 shares during the period. Finally, JPMorgan Chase & Co. boosted its position in shares of Rexford Industrial Realty by 18.3% in 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. 99.52% of the stock is currently owned by institutional investors.

Rexford Industrial Realty Price Performance

Shares of NYSE:REXR traded down $0.20 during midday trading on Tuesday, reaching $42.78. 3,679,365 shares of the company were exchanged, compared to its average volume of 2,599,648. The company has a current ratio of 5.59, a quick ratio of 5.59 and a debt-to-equity ratio of 0.37. The business's fifty day moving average is $38.29 and its two-hundred day moving average is $37.00. Rexford Industrial Realty, Inc. has a one year low of $29.68 and a one year high of $52.37. The stock has a market cap of $10.12 billion, a PE ratio of 31.69, a price-to-earnings-growth ratio of 4.77 and a beta of 1.13.

Rexford Industrial Realty (NYSE:REXR - Get Free Report) last issued its earnings results on Wednesday, July 16th. The real estate investment trust reported $0.59 earnings per share for the quarter, topping analysts' consensus estimates 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 during 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 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, analysts predict that Rexford Industrial Realty, Inc. will post 2.38 earnings per share for the current year.

Rexford Industrial Realty Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th will be given a dividend of $0.43 per share. The ex-dividend date is Tuesday, September 30th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 4.0%. Rexford Industrial Realty's dividend payout ratio is currently 127.41%.

Insider Buying and Selling at Rexford Industrial Realty

In related news, General Counsel David E. Lanzer sold 26,449 shares of the company's 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 document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 1.20% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on REXR. Evercore ISI upped their price target on shares of Rexford Industrial Realty from $38.00 to $39.00 and gave the stock an "in-line" rating in a research report on Monday. Truist Financial upped their price target on shares of Rexford Industrial Realty from $37.00 to $42.00 and gave the stock a "buy" rating in a research report on Wednesday, August 20th. Wells Fargo & Company dropped their price target on shares of Rexford Industrial Realty from $45.00 to $39.00 and set an "overweight" rating for the company in a research report on Monday, May 19th. Scotiabank upped their price target on shares of Rexford Industrial Realty from $40.00 to $43.00 and gave the stock a "sector perform" rating in a research report on Thursday, September 4th. Finally, Mizuho upped their price target on shares of Rexford Industrial Realty from $37.00 to $40.00 and gave the stock a "neutral" rating in a research report on Monday. Two 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, the company has a consensus rating of "Hold" and a consensus target price of $40.55.

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.