Rexford Industrial Realty, Inc. (NYSE:REXR) Shares Acquired by Daiwa Securities Group Inc.

Daiwa Securities Group Inc. increased its holdings in Rexford Industrial Realty, Inc. (NYSE:REXR) by 52.5% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 1,210,795 shares of the real estate investment trust’s stock after purchasing an additional 417,037 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Rexford Industrial Realty were worth $53,990,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Massmutual Trust Co. FSB ADV raised its position in Rexford Industrial Realty by 169.4% during the second quarter. Massmutual Trust Co. FSB ADV now owns 555 shares of the real estate investment trust’s stock worth $25,000 after acquiring an additional 349 shares during the last quarter. V Square Quantitative Management LLC purchased a new stake in Rexford Industrial Realty in the 2nd quarter valued at approximately $26,000. EverSource Wealth Advisors LLC grew its holdings in Rexford Industrial Realty by 1,252.2% during the 1st quarter. EverSource Wealth Advisors LLC now owns 933 shares of the real estate investment trust’s stock valued at $47,000 after buying an additional 864 shares during the last quarter. Advisors Asset Management Inc. increased its position in Rexford Industrial Realty by 136.6% during the first quarter. Advisors Asset Management Inc. now owns 1,086 shares of the real estate investment trust’s stock worth $55,000 after buying an additional 627 shares in the last quarter. Finally, Quarry LP increased its position in Rexford Industrial Realty by 195.8% during the fourth quarter. Quarry LP now owns 1,118 shares of the real estate investment trust’s stock worth $63,000 after buying an additional 740 shares in the last quarter. 99.52% of the stock is owned by institutional investors and hedge funds.

Rexford Industrial Realty Price Performance

Shares of Rexford Industrial Realty stock opened at $49.89 on Tuesday. The business’s fifty day moving average price is $49.21 and its 200 day moving average price is $47.71. Rexford Industrial Realty, Inc. has a twelve month low of $41.56 and a twelve month high of $58.02. The company has a current ratio of 1.73, a quick ratio of 1.73 and a debt-to-equity ratio of 0.41. The stock has a market capitalization of $10.95 billion, a P/E ratio of 45.77, a PEG ratio of 2.02 and a beta of 0.93.

Rexford Industrial Realty (NYSE:REXR) last released its quarterly earnings data on Wednesday, July 17th. The real estate investment trust reported $0.37 earnings per share for the quarter, missing the consensus estimate of $0.58 by ($0.21). The firm had revenue of $237.60 million during the quarter, compared to analyst estimates of $227.70 million. Rexford Industrial Realty had a net margin of 30.71% and a return on equity of 3.31%. The business’s revenue for the quarter was up 21.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.54 earnings per share. As a group, research analysts anticipate that Rexford Industrial Realty, Inc. will post 2.35 earnings per share for the current year.

Rexford Industrial Realty Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 30th will be issued a $0.4175 dividend. This is an increase from Rexford Industrial Realty’s previous quarterly dividend of $0.42. This represents a $1.67 annualized dividend and a yield of 3.35%. The ex-dividend date is Monday, September 30th. Rexford Industrial Realty’s dividend payout ratio is currently 153.21%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on REXR. Wells Fargo & Company reduced their price objective on Rexford Industrial Realty from $66.00 to $61.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 28th. Evercore ISI raised their price target on shares of Rexford Industrial Realty from $55.00 to $57.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 28th. Truist Financial boosted their price objective on shares of Rexford Industrial Realty from $50.00 to $54.00 and gave the company a “buy” rating in a research report on Tuesday, July 30th. StockNews.com upgraded shares of Rexford Industrial Realty from a “sell” rating to a “hold” rating in a research report on Monday, July 22nd. Finally, JPMorgan Chase & Co. lifted their target price on shares of Rexford Industrial Realty from $47.00 to $52.00 and gave the stock a “neutral” rating in a research note on Thursday, July 25th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $54.00.

Insider Buying and Selling at Rexford Industrial Realty

In other Rexford Industrial Realty news, CEO Howard Schwimmer sold 30,358 shares of the stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $48.86, for a total value of $1,483,291.88. Following the completion of the sale, the chief executive officer now owns 50,673 shares of the company’s stock, valued at $2,475,882.78. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.20% of the stock is currently owned by corporate insiders.

Rexford Industrial Realty Company Profile

Rexford Industrial creates value by investing in, operating and redeveloping industrial properties throughout infill Southern California, the world's fourth largest industrial market and consistently the highest-demand with lowest-supply major market in the nation. The Company's highly differentiated strategy enables internal and external growth opportunities through its proprietary value creation and asset management capabilities.