Virtu Financial LLC Makes New $312,000 Investment in Rexford Industrial Realty, Inc. $REXR

Key Points

• Virtu Financial LLC acquired a new stake in Rexford Industrial Realty, Inc. worth approximately $312,000 by purchasing 7,958 shares in the first quarter.
• Multiple institutional investors, including the Teacher Retirement System of Texas and GAMMA Investing LLC, have significantly increased their positions in Rexford Industrial Realty, driving institutional ownership to 99.52%.
• Rexford Industrial Realty is expected to post an earnings per share of $2.38 for the current fiscal year, with a current consensus rating of "Hold" and an average target price of $39.82.

Virtu Financial LLC bought a new position in shares of Rexford Industrial Realty, Inc. (NYSE:REXR - Free Report) in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 7,958 shares of the real estate investment trust's stock, valued at approximately $312,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. MassMutual Private Wealth & Trust FSB lifted its holdings 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 worth $29,000 after buying an additional 566 shares in the last quarter. Bessemer Group Inc. raised its stake in Rexford Industrial Realty by 118.4% in the first quarter. Bessemer Group Inc. now owns 747 shares of the real estate investment trust's stock valued at $29,000 after purchasing an additional 405 shares in the last quarter. Private Trust Co. NA raised its stake in Rexford Industrial Realty by 95.6% in the first quarter. Private Trust Co. NA now owns 757 shares of the real estate investment trust's stock valued at $30,000 after purchasing an additional 370 shares in the last quarter. GAMMA Investing LLC raised its stake in Rexford Industrial Realty by 211.2% in the first quarter. GAMMA Investing LLC now owns 1,441 shares of the real estate investment trust's stock valued at $56,000 after purchasing an additional 978 shares in the last quarter. Finally, Avalon Trust Co purchased a new stake in Rexford Industrial Realty in the first quarter valued at approximately $66,000. 99.52% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

REXR has been the topic of a number of recent analyst reports. Wells Fargo & Company lowered their target price on shares of Rexford Industrial Realty from $45.00 to $39.00 and set an "overweight" rating on the stock in a research note on Monday, May 19th. Scotiabank lowered their target price on shares of Rexford Industrial Realty from $39.00 to $37.00 and set a "sector perform" rating on the stock in a research note on Monday, May 12th. JPMorgan Chase & Co. lowered their target price on shares of Rexford Industrial Realty from $44.00 to $37.00 and set a "neutral" rating on the stock in a research note on Thursday, April 24th. Evercore ISI downgraded shares of Rexford Industrial Realty from an "outperform" rating to an "in-line" rating and decreased their price target for the stock from $39.00 to $38.00 in a research note on Friday, July 18th. Finally, Truist Financial decreased their price target on shares of Rexford Industrial Realty from $44.00 to $37.00 and set a "buy" rating on the stock in a research note on Thursday, May 1st. 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. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $39.82.

Insider Activity at Rexford Industrial Realty

In other news, General Counsel David E. Lanzer sold 26,449 shares of the business'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 legal filing with the SEC, which is accessible through the SEC website. Company insiders own 1.20% of the company's stock.

Rexford Industrial Realty Trading Up 4.6%

Shares of Rexford Industrial Realty stock traded up $1.7490 on Tuesday, hitting $39.4190. The stock had a trading volume of 3,474,162 shares, compared to its average volume of 2,598,735. 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 cap of $9.33 billion, a price-to-earnings ratio of 29.20, a PEG ratio of 4.23 and a beta of 1.10. The stock's 50-day simple moving average is $36.85 and its two-hundred day simple moving average is $36.92.

Rexford Industrial Realty (NYSE:REXR - Get Free Report) last released its quarterly earnings results on Wednesday, July 16th. The real estate investment trust reported $0.59 earnings per share for the quarter, beating the consensus estimate of $0.58 by $0.01. The business had revenue of $241.57 million for the quarter, compared to analysts' expectations of $251.72 million. Rexford Industrial Realty had a net margin of 32.04% and a return on equity of 3.62%. The firm's revenue for the quarter was up 5.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.60 earnings per share. Rexford Industrial Realty has set its FY 2025 guidance at 2.370-2.410 EPS. As a group, sell-side analysts predict that Rexford Industrial Realty, Inc. will post 2.38 EPS for the current year.

Rexford Industrial Realty Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th will be issued a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a dividend yield of 4.4%. The ex-dividend date is Tuesday, September 30th. 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.