475,000 Shares in Rexford Industrial Realty, Inc. $REXR Purchased by Zimmer Partners LP

Key Points

• Zimmer Partners LP invested approximately $18.60 million in Rexford Industrial Realty, acquiring 475,000 shares, giving them about 0.20% ownership in the company.
• Institutional investors control an impressive 99.52% of Rexford Industrial Realty's stock, indicating strong institutional interest in the company.
• The company recently declared a quarterly dividend of $0.43 per share, with an annualized dividend yield of 4.0%.

Zimmer Partners LP acquired a new stake in Rexford Industrial Realty, Inc. (NYSE:REXR - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 475,000 shares of the real estate investment trust's stock, valued at approximately $18,596,000. Zimmer Partners LP owned 0.20% of Rexford Industrial Realty as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently bought and sold shares of the company. M&T Bank Corp lifted its holdings in Rexford Industrial Realty by 1.2% in the 1st quarter. M&T Bank Corp now owns 26,857 shares of the real estate investment trust's stock valued at $1,052,000 after purchasing an additional 317 shares in the last quarter. Private Trust Co. NA increased its stake in shares of 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 valued at $30,000 after acquiring an additional 370 shares during the last quarter. Federated Hermes Inc. increased its stake in shares of 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 valued at $716,000 after acquiring an additional 388 shares during the last quarter. Bessemer Group Inc. increased its stake in shares of 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 valued at $29,000 after acquiring an additional 405 shares during the last quarter. Finally, Securian Asset Management Inc. increased its stake in shares of Rexford Industrial Realty by 3.0% during the 1st quarter. Securian Asset Management Inc. now owns 17,282 shares of the real estate investment trust's stock valued at $677,000 after acquiring an additional 501 shares during the last quarter. 99.52% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Rexford Industrial Realty

In other news, General Counsel David E. Lanzer sold 26,449 shares of Rexford Industrial Realty stock in a transaction on Monday, July 21st. The stock was sold at an average price of $36.87, for a total transaction of $975,174.63. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Company insiders own 1.20% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on REXR shares. Scotiabank upped their price objective on shares of Rexford Industrial Realty from $40.00 to $43.00 and gave the company a "sector perform" rating in a research note on Thursday, September 4th. Evercore ISI increased their target price on shares of Rexford Industrial Realty from $38.00 to $39.00 and gave the stock an "in-line" rating in a research report on Monday. Mizuho increased their target price on shares of Rexford Industrial Realty from $37.00 to $40.00 and gave the stock a "neutral" rating in a research report on Monday. Truist Financial increased their target price on shares of Rexford Industrial Realty from $37.00 to $42.00 and gave the stock a "buy" rating in a research report on Wednesday, August 20th. Finally, Wells Fargo & Company dropped 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 report on Monday, May 19th. Two investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Rexford Industrial Realty has a consensus rating of "Hold" and a consensus target price of $40.55.

Rexford Industrial Realty Stock Performance

NYSE REXR traded down $0.08 during trading hours on Friday, hitting $43.45. The company had a trading volume of 2,480,491 shares, compared to its average volume of 2,629,881. Rexford Industrial Realty, Inc. has a fifty-two week low of $29.68 and a fifty-two week high of $52.37. The company has a quick ratio of 5.59, a current ratio of 5.59 and a debt-to-equity ratio of 0.37. The business has a fifty day simple moving average of $38.54 and a 200-day simple moving average of $37.06. The firm has a market cap of $10.28 billion, a P/E ratio of 32.18, a price-to-earnings-growth ratio of 4.74 and a beta of 1.13.

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 EPS for the quarter, beating analysts' consensus estimates of $0.58 by $0.01. The company 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 company's quarterly revenue was up 5.0% compared to the same quarter last year. During the same period last year, the company earned $0.60 earnings per share. Rexford Industrial Realty has set its FY 2025 guidance at 2.370-2.410 EPS. Equities 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. Stockholders 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 dividend yield of 4.0%. The ex-dividend date of this dividend is Tuesday, September 30th. Rexford Industrial Realty's dividend payout ratio (DPR) is 127.41%.

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.