Zimmer Partners LP Buys Shares of 475,000 Rexford Industrial Realty, Inc. $REXR

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

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in REXR. Massachusetts Financial Services Co. MA boosted its holdings 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 valued at $303,488,000 after purchasing an additional 4,384,624 shares during the period. Nuveen LLC acquired a new stake in Rexford Industrial Realty in the 1st quarter valued at about $146,155,000. Rush Island Management LP acquired a new position in shares of Rexford Industrial Realty during the fourth quarter worth about $132,701,000. Resolution Capital Ltd purchased a new stake in shares of Rexford Industrial Realty during the fourth quarter worth approximately $52,025,000. Finally, Vanguard Group Inc. raised its holdings in Rexford Industrial Realty by 2.6% in the first quarter. Vanguard Group Inc. now owns 30,711,076 shares of the real estate investment trust's stock valued at $1,202,339,000 after acquiring an additional 779,095 shares in the last quarter. Hedge funds and other institutional investors own 99.52% of the company's stock.

Insider Activity

In related news, General Counsel David E. Lanzer sold 26,449 shares of the stock in a transaction dated 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 hyperlink. 1.20% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Truist Financial boosted their price target on shares of Rexford Industrial Realty from $37.00 to $42.00 and gave the stock a "buy" rating in a report on Wednesday, August 20th. Wells Fargo & Company lowered their price target on Rexford Industrial Realty from $45.00 to $39.00 and set an "overweight" rating on the stock in a report on Monday, May 19th. Mizuho lifted their target price on Rexford Industrial Realty from $37.00 to $40.00 and gave the company a "neutral" rating in a research note on Monday, September 8th. Industrial Alliance Securities set a $39.00 target price on Rexford Industrial Realty in a report on Monday, September 8th. Finally, Evercore ISI increased their price target on Rexford Industrial Realty from $38.00 to $39.00 and gave the stock an "in-line" rating in a report on Monday, September 8th. Two equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $40.55.

Rexford Industrial Realty Stock Performance

NYSE REXR traded down $0.08 on Friday, hitting $43.45. 2,480,491 shares of the company's stock were exchanged, compared to its average volume of 2,754,651. The firm has a market cap of $10.28 billion, a price-to-earnings ratio of 32.18, a P/E/G ratio of 4.81 and a beta of 1.13. The firm's 50-day moving average price is $38.66 and its two-hundred day moving average price is $37.03. 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 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 posted its quarterly earnings results on Wednesday, July 16th. The real estate investment trust reported $0.59 EPS 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 analysts' expectations of $251.72 million. During the same period last year, the firm earned $0.60 EPS. The company's quarterly revenue was up 5.0% compared to the same quarter last year. Rexford Industrial Realty has set its FY 2025 guidance at 2.370-2.410 EPS. On average, research analysts expect that Rexford Industrial Realty, Inc. will post 2.38 EPS for the current year.

Rexford Industrial Realty Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Tuesday, September 30th will be issued a $0.43 dividend. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $1.72 annualized dividend and a yield of 4.0%. Rexford Industrial Realty's dividend payout ratio is 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.