Westwood Holdings Group Inc. Raises Stake 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. grew its holdings in Rexford Industrial Realty, Inc. (NYSE:REXR - Free Report) by 4.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. 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 0.25% of Rexford Industrial Realty worth $23,110,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in REXR. American Assets Investment Management LLC purchased a new position in Rexford Industrial Realty in the first quarter worth approximately $4,078,000. New Age Alpha Advisors LLC lifted its stake in Rexford Industrial Realty by 30.9% in the first quarter. New Age Alpha Advisors LLC now owns 261,480 shares of the real estate investment trust's stock worth $10,237,000 after acquiring an additional 61,745 shares during the last quarter. Avalon Trust Co purchased a new position in Rexford Industrial Realty in the first quarter worth approximately $66,000. PNC Financial Services Group Inc. lifted its stake in Rexford Industrial Realty by 70.3% in the first quarter. PNC Financial Services Group Inc. now owns 10,067 shares of the real estate investment trust's stock worth $394,000 after acquiring an additional 4,155 shares during the last quarter. Finally, Jefferies Financial Group Inc. purchased a new position in Rexford Industrial Realty in the first quarter worth approximately $325,000. Hedge funds and other institutional investors own 99.52% of the company's stock.

Rexford Industrial Realty Stock Performance

Shares of Rexford Industrial Realty stock traded down $0.24 during trading on Friday, reaching $36.73. The company's stock had a trading volume of 2,108,764 shares, compared to its average volume of 3,052,349. The company has a 50-day moving average price of $36.65 and a two-hundred day moving average price of $37.08. The firm has a market cap of $8.69 billion, a PE ratio of 27.21, a P/E/G ratio of 4.08 and a beta of 1.10. Rexford Industrial Realty, Inc. has a fifty-two week low of $29.68 and a fifty-two 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.

Rexford Industrial Realty (NYSE:REXR - Get Free Report) last announced its earnings results on Wednesday, July 16th. The real estate investment trust reported $0.59 EPS for the quarter, beating analysts' consensus estimates 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 company's quarterly revenue was up 5.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.60 EPS. On average, analysts forecast that Rexford Industrial Realty, Inc. will post 2.38 EPS for the current year.

Rexford Industrial Realty Announces Dividend

The company 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 $0.43 dividend. This represents a $1.72 annualized dividend and a yield of 4.7%. The ex-dividend date of this dividend is Tuesday, September 30th. Rexford Industrial Realty's payout ratio is currently 127.41%.

Analyst Ratings Changes

REXR has been the subject of a number of recent research reports. 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. Robert W. Baird set a $43.00 price objective on shares of Rexford Industrial Realty in a report on Tuesday, May 6th. Scotiabank cut their price objective on shares of Rexford Industrial Realty from $39.00 to $37.00 and set a "sector perform" rating on the stock in a report on Monday, May 12th. JPMorgan Chase & Co. cut their price objective on shares of Rexford Industrial Realty from $44.00 to $37.00 and set a "neutral" rating on the stock in a report on Thursday, April 24th. Finally, Wells Fargo & Company cut their price objective on shares of Rexford Industrial Realty from $45.00 to $39.00 and set an "overweight" rating on the stock in a report on Monday, May 19th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $39.82.

Insider Transactions at Rexford Industrial Realty

In other Rexford Industrial Realty 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 value of $975,174.63. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 1.20% of the company's stock.

Rexford Industrial Realty 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.