Wealth Enhancement Advisory Services LLC Raises Stake in Rexford Industrial Realty, Inc. $REXR

Key Points

• Wealth Enhancement Advisory Services LLC increased its stake in Rexford Industrial Realty by 202.8% during Q2, acquiring an additional 41,907 shares, bringing their total holdings to 62,574 shares valued at approximately $2.32 million.
• Analysts have adjusted their price targets for Rexford Industrial Realty, with Mizuho setting a target of $40.00 and Truist Financial raising it to $42.00, contributing to an average target price of $41.09.
• The company declared a quarterly dividend of $0.43 per share, with a dividend yield of 4.1%, to be paid on October 15, targeting investors of record by September 30.

Wealth Enhancement Advisory Services LLC lifted its position in shares of Rexford Industrial Realty, Inc. (NYSE:REXR - Free Report) by 202.8% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 62,574 shares of the real estate investment trust's stock after purchasing an additional 41,907 shares during the quarter. Wealth Enhancement Advisory Services LLC's holdings in Rexford Industrial Realty were worth $2,323,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of REXR. Northwestern Mutual Wealth Management Co. grew its holdings in shares of Rexford Industrial Realty by 403.6% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 690 shares of the real estate investment trust's stock worth $27,000 after purchasing an additional 553 shares during the period. MassMutual Private Wealth & Trust FSB boosted its holdings in Rexford Industrial Realty by 332.9% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 736 shares of the real estate investment trust's stock worth $29,000 after acquiring an additional 566 shares during the period. Bessemer Group Inc. boosted its holdings in 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 acquiring an additional 405 shares during the period. Private Trust Co. NA boosted its holdings in 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 acquiring an additional 370 shares during the period. Finally, Caitong International Asset Management Co. Ltd boosted its holdings in 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 acquiring an additional 800 shares during the period. Hedge funds and other institutional investors own 99.52% of the company's stock.

Analysts Set New Price Targets

REXR has been the subject of a number of analyst reports. Mizuho upped their price target on Rexford Industrial Realty from $37.00 to $40.00 and gave the stock a "neutral" rating in a report on Monday, September 8th. Barclays upped their price target on Rexford Industrial Realty from $35.00 to $39.00 and gave the stock an "underweight" rating in a report on Monday, September 15th. Scotiabank upped their price target on Rexford Industrial Realty from $40.00 to $43.00 and gave the stock a "sector perform" rating in a report on Thursday, September 4th. 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. Finally, Wall Street Zen upgraded Rexford Industrial Realty from a "sell" rating to a "hold" rating in a report on Saturday, September 20th. Two research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $41.09.

Rexford Industrial Realty Stock Performance

REXR stock opened at $41.58 on Monday. 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 firm has a market cap of $9.84 billion, a P/E ratio of 30.80, a P/E/G ratio of 4.62 and a beta of 1.13. Rexford Industrial Realty, Inc. has a 12-month low of $29.68 and a 12-month high of $51.29. The stock's 50 day simple moving average is $39.77 and its 200 day simple moving average is $37.17.

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 (EPS) 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 analyst estimates of $251.72 million. Rexford Industrial Realty had a return on equity of 3.62% and a net margin of 32.04%.The business's revenue was up 5.0% compared to the same quarter last year. During the same period in the prior year, the company posted $0.60 EPS. Rexford Industrial Realty has set its FY 2025 guidance at 2.370-2.410 EPS. As a group, equities research analysts predict that Rexford Industrial Realty, Inc. will post 2.38 EPS for the current year.

Rexford Industrial Realty Announces Dividend

The company also recently declared 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. This represents a $1.72 annualized dividend and a dividend yield of 4.1%. The ex-dividend date of this dividend is Tuesday, September 30th. Rexford Industrial Realty's dividend payout ratio is currently 127.41%.

Insider Activity

In related news, General Counsel David E. Lanzer sold 26,449 shares of the company's stock in a transaction that occurred on 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 can be accessed through this link. Corporate insiders own 1.20% of the company's stock.

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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