Westwood Holdings Group Inc. Raises Stock Position in Rexford Industrial Realty, Inc. (NYSE:REXR)

Key Points

• Westwood Holdings Group Inc. increased its stake in Rexford Industrial Realty by 4.1% in Q1, owning 590,295 shares valued at approximately $23.1 million.
• Rexford Industrial Realty declared a quarterly dividend of $0.43 per share, with a yield of 4.7%, to be paid on October 15th.
• The stock has a market cap of $8.74 billion and reported earnings of $0.59 per share for the last quarter, slightly surpassing analysts' expectations.

Westwood Holdings Group Inc. raised its stake in shares of Rexford Industrial Realty, Inc. (NYSE:REXR - Free Report) by 4.1% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 590,295 shares of the real estate investment trust's stock after purchasing an additional 23,250 shares during the quarter. Westwood Holdings Group Inc. owned approximately 0.25% of Rexford Industrial Realty worth $23,110,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in REXR. American Century Companies Inc. boosted its holdings in shares of Rexford Industrial Realty by 3.4% during the 4th quarter. American Century Companies Inc. now owns 74,987 shares of the real estate investment trust's stock valued at $2,899,000 after buying an additional 2,452 shares in the last quarter. LPL Financial LLC boosted its holdings in shares of Rexford Industrial Realty by 60.5% during the 4th quarter. LPL Financial LLC now owns 70,416 shares of the real estate investment trust's stock valued at $2,722,000 after buying an additional 26,555 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Rexford Industrial Realty by 1.7% during the 4th quarter. Geode Capital Management LLC now owns 4,144,754 shares of the real estate investment trust's stock valued at $160,282,000 after buying an additional 70,710 shares in the last quarter. Landscape Capital Management L.L.C. boosted its holdings in shares of Rexford Industrial Realty by 16.2% during the 4th quarter. Landscape Capital Management L.L.C. now owns 5,382 shares of the real estate investment trust's stock valued at $208,000 after buying an additional 750 shares in the last quarter. Finally, Resona Asset Management Co. Ltd. bought a new stake in shares of Rexford Industrial Realty during the 4th quarter valued at $3,419,000. 99.52% of the stock is owned by hedge funds and other institutional investors.

Rexford Industrial Realty Price Performance

Shares of REXR stock opened at $36.95 on Wednesday. Rexford Industrial Realty, Inc. has a 1-year low of $29.68 and a 1-year high of $52.61. The stock's 50-day moving average is $36.57 and its 200 day moving average is $37.14. The company has a market cap of $8.74 billion, a P/E ratio of 27.37, a PEG ratio of 4.02 and a beta of 1.10. 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 (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 for the quarter, topping 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 quarter last year, the company earned $0.60 earnings per share. The company's quarterly revenue was up 5.0% on a year-over-year basis. Research analysts predict that Rexford Industrial Realty, Inc. will post 2.38 earnings per share for the current fiscal year.

Rexford Industrial Realty Announces Dividend

The business 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 yield of 4.7%. The ex-dividend date is Tuesday, September 30th. Rexford Industrial Realty's dividend payout ratio (DPR) is currently 127.41%.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on REXR shares. Truist Financial dropped their target price on shares of Rexford Industrial Realty from $44.00 to $37.00 and set a "buy" rating on the stock in a report on Thursday, May 1st. Evercore ISI lowered Rexford Industrial Realty from an "outperform" rating to an "in-line" rating and lowered their price target for the stock from $39.00 to $38.00 in a research report on Friday, July 18th. Scotiabank lowered their price target on Rexford Industrial Realty from $39.00 to $37.00 and set a "sector perform" rating for the company in a research report on Monday, May 12th. Robert W. Baird set a $43.00 price target on Rexford Industrial Realty in a research report on Tuesday, May 6th. Finally, JPMorgan Chase & Co. lowered their price target on Rexford Industrial Realty from $44.00 to $37.00 and set a "neutral" rating for the company in a research report on Thursday, April 24th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $39.82.

Insiders Place Their Bets

In other Rexford Industrial Realty news, General Counsel David E. Lanzer sold 26,449 shares of the firm'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 value of $975,174.63. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 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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