XTX Topco Ltd Makes New $896,000 Investment in Rexford Industrial Realty, Inc. (NYSE:REXR)

Key Points

• XTX Topco Ltd has acquired 22,893 shares of Rexford Industrial Realty, valued at approximately $896,000, marking a new investment from the firm in the first quarter.
• Rexford Industrial Realty recently announced a quarterly dividend of $0.43 per share, with a dividend yield of 4.8% and a payout ratio of 127.41%.
• The company's earnings report showed a 12-month high of $52.61, with the latest earnings per share at $0.59, slightly beating analysts' expectations of $0.58.

XTX Topco Ltd acquired a new position in Rexford Industrial Realty, Inc. (NYSE:REXR - Free Report) in the first quarter, according to the company in its most recent filing with the SEC. The firm acquired 22,893 shares of the real estate investment trust's stock, valued at approximately $896,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of REXR. Massachusetts Financial Services Co. MA boosted its stake in Rexford Industrial Realty by 130.2% in the first quarter. Massachusetts Financial Services Co. MA now owns 7,751,922 shares of the real estate investment trust's stock worth $303,488,000 after purchasing an additional 4,384,624 shares in the last quarter. Geode Capital Management LLC raised its position 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 acquiring an additional 70,710 shares during the last quarter. Rush Island Management LP acquired a new position in shares of Rexford Industrial Realty in the 4th quarter valued at $132,701,000. Northern Trust Corp boosted its position in shares of Rexford Industrial Realty by 94.3% in the 4th quarter. Northern Trust Corp now owns 3,104,624 shares of the real estate investment trust's stock worth $120,025,000 after purchasing an additional 1,506,779 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in Rexford Industrial Realty by 0.7% in the first quarter. Bank of New York Mellon Corp now owns 1,789,826 shares of the real estate investment trust's stock valued at $70,072,000 after purchasing an additional 12,764 shares during the last quarter. 99.52% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related 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 transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 1.20% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on REXR. Barclays lowered their price target on Rexford Industrial Realty from $38.00 to $35.00 and set an "underweight" rating for the company in a research note on Wednesday, April 30th. Evercore ISI lowered Rexford Industrial Realty from an "outperform" rating to an "in-line" rating and reduced their target price for the stock from $39.00 to $38.00 in a report on Friday, July 18th. Truist Financial cut their price objective on Rexford Industrial Realty from $44.00 to $37.00 and set a "buy" rating on the stock in a report on Thursday, May 1st. Robert W. Baird set a $43.00 price target on shares of Rexford Industrial Realty in a report on Tuesday, May 6th. Finally, Wells Fargo & Company reduced their target price on shares of Rexford Industrial Realty from $45.00 to $39.00 and set an "overweight" rating for the company in a research note on Monday, May 19th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $39.82.

Rexford Industrial Realty Stock Performance

REXR traded down $0.23 during trading on Wednesday, hitting $36.72. The stock had a trading volume of 2,078,212 shares, compared to its average volume of 2,616,724. Rexford Industrial Realty, Inc. has a one year low of $29.68 and a one year high of $52.61. The company has a debt-to-equity ratio of 0.37, a current ratio of 5.59 and a quick ratio of 5.59. The company has a 50 day moving average price of $36.57 and a 200-day moving average price of $37.14. The firm has a market cap of $8.69 billion, a price-to-earnings ratio of 27.20, a P/E/G ratio of 4.02 and a beta of 1.10.

Rexford Industrial Realty (NYSE:REXR - Get Free Report) last issued its earnings results on Wednesday, July 16th. The real estate investment trust reported $0.59 earnings per share for the quarter, beating analysts' consensus estimates 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 firm had revenue of $241.57 million for the quarter, compared to the consensus estimate of $251.72 million. During the same quarter last year, the business posted $0.60 EPS. The company's revenue was up 5.0% compared to the same quarter last year. As a group, research analysts predict that Rexford Industrial Realty, Inc. will post 2.38 EPS for the current year.

Rexford Industrial Realty Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders 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 yield of 4.7%. The ex-dividend date is Tuesday, September 30th. Rexford Industrial Realty's dividend payout ratio (DPR) is presently 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.