Wellington Management Group LLP Boosts Stock Position in Rexford Industrial Realty, Inc. $REXR

Key Points

• Wellington Management Group LLP increased its stake in Rexford Industrial Realty, Inc. by 1.8%, acquiring an additional 46,909 shares to own a total of 2,651,531 shares valued at approximately $103.8 million.
• Equities analysts showed mixed sentiments: while Truist Financial raised its price target to $42 with a "buy" rating, JPMorgan Chase reduced its target to $37, labeling the stock as "neutral."
• The company announced a $0.43 quarterly dividend, set to be paid on October 15th, indicating an annual yield of 4.4% despite a payout ratio of 127.41%.

Wellington Management Group LLP boosted its stake in shares of Rexford Industrial Realty, Inc. (NYSE:REXR - Free Report) by 1.8% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,651,531 shares of the real estate investment trust's stock after purchasing an additional 46,909 shares during the quarter. Wellington Management Group LLP owned approximately 1.12% of Rexford Industrial Realty worth $103,807,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the business. Utah Retirement Systems lifted its holdings in Rexford Industrial Realty by 0.8% during the 4th quarter. Utah Retirement Systems now owns 36,000 shares of the real estate investment trust's stock worth $1,392,000 after buying an additional 300 shares during the last quarter. M&T Bank Corp lifted its holdings in Rexford Industrial Realty by 1.2% during the 1st quarter. M&T Bank Corp now owns 26,857 shares of the real estate investment trust's stock worth $1,052,000 after buying an additional 317 shares during the last quarter. Private Trust Co. NA lifted its holdings in Rexford Industrial Realty by 95.6% during the 1st quarter. Private Trust Co. NA now owns 757 shares of the real estate investment trust's stock worth $30,000 after buying an additional 370 shares during the last quarter. Federated Hermes Inc. lifted its holdings in Rexford Industrial Realty by 2.2% during the 1st quarter. Federated Hermes Inc. now owns 18,297 shares of the real estate investment trust's stock worth $716,000 after buying an additional 388 shares during the last quarter. Finally, Bessemer Group Inc. lifted its holdings in Rexford Industrial Realty by 118.4% during the 1st quarter. Bessemer Group Inc. now owns 747 shares of the real estate investment trust's stock worth $29,000 after buying an additional 405 shares during the last quarter. 99.52% of the stock is owned by hedge funds and other institutional investors.

Rexford Industrial Realty Stock Performance

Shares of Rexford Industrial Realty stock traded up $1.3310 on Friday, hitting $40.3910. The stock had a trading volume of 1,424,434 shares, compared to its average volume of 2,071,634. Rexford Industrial Realty, Inc. has a 52-week low of $29.68 and a 52-week high of $52.61. 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 stock has a market cap of $9.56 billion, a price-to-earnings ratio of 29.92, a P/E/G ratio of 4.49 and a beta of 1.10. The company's 50 day moving average price is $37.07 and its 200 day moving average price is $36.89.

Rexford Industrial Realty (NYSE:REXR - Get Free Report) last posted its 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. Rexford Industrial Realty had a return on equity of 3.62% and a net margin of 32.04%.The business had revenue of $241.57 million during the quarter, compared to the consensus estimate of $251.72 million. During the same period in the previous year, the business earned $0.60 EPS. The business'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, research analysts anticipate that Rexford Industrial Realty, Inc. will post 2.38 EPS for the current year.

Rexford Industrial Realty Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Tuesday, September 30th will be paid 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 yield of 4.3%. Rexford Industrial Realty's dividend payout ratio is currently 127.41%.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on REXR. Truist Financial lifted 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. Wells Fargo & Company decreased their price target on Rexford Industrial Realty from $45.00 to $39.00 and set an "overweight" rating for the company in a report on Monday, May 19th. Scotiabank decreased their price target on Rexford Industrial Realty from $39.00 to $37.00 and set a "sector perform" rating for the company in a report on Monday, May 12th. Robert W. Baird set a $43.00 price target on Rexford Industrial Realty in a report on Tuesday, May 6th. Finally, Barclays decreased their price target on Rexford Industrial Realty from $38.00 to $35.00 and set an "underweight" rating for the company in a report on Wednesday, April 30th. Two research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $40.27.

Insider Buying and Selling

In other Rexford Industrial Realty 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 filing with the Securities & Exchange Commission, which can be accessed through this link. 1.20% of the stock is currently owned by corporate insiders.

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.