Choreo LLC Invests $445,000 in Rexford Industrial Realty, Inc. (NYSE:REXR)

Choreo LLC acquired a new position in Rexford Industrial Realty, Inc. (NYSE:REXR) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 10,016 shares of the real estate investment trust’s stock, valued at approximately $445,000.

Other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. lifted its position in Rexford Industrial Realty by 2.6% during the 1st quarter. Vanguard Group Inc. now owns 29,734,952 shares of the real estate investment trust’s stock worth $1,495,668,000 after acquiring an additional 753,098 shares during the period. Price T Rowe Associates Inc. MD lifted its position in Rexford Industrial Realty by 26.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 19,933,431 shares of the real estate investment trust’s stock worth $1,002,654,000 after acquiring an additional 4,197,907 shares during the period. Capital International Investors lifted its position in Rexford Industrial Realty by 687.7% during the 1st quarter. Capital International Investors now owns 19,590,676 shares of the real estate investment trust’s stock worth $985,411,000 after acquiring an additional 17,103,653 shares during the period. Centersquare Investment Management LLC lifted its position in Rexford Industrial Realty by 1.1% during the 1st quarter. Centersquare Investment Management LLC now owns 3,938,026 shares of the real estate investment trust’s stock worth $198,083,000 after acquiring an additional 42,632 shares during the period. Finally, Cbre Investment Management Listed Real Assets LLC lifted its position in Rexford Industrial Realty by 15.8% during the 4th quarter. Cbre Investment Management Listed Real Assets LLC now owns 3,225,970 shares of the real estate investment trust’s stock worth $180,977,000 after acquiring an additional 441,039 shares during the period. Institutional investors and hedge funds own 99.52% of the company’s stock.

Rexford Industrial Realty Price Performance

NYSE:REXR opened at $50.59 on Monday. Rexford Industrial Realty, Inc. has a 12 month low of $41.56 and a 12 month high of $58.02. The stock has a 50 day moving average of $49.72 and a two-hundred day moving average of $47.66. 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 firm has a market cap of $11.11 billion, a P/E ratio of 46.41, a price-to-earnings-growth ratio of 2.03 and a beta of 0.93.

Rexford Industrial Realty (NYSE:REXR) last issued its earnings results 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 company had revenue of $237.60 million for the quarter, compared to analyst estimates of $227.70 million. Rexford Industrial Realty had a return on equity of 3.31% and a net margin of 30.71%. The company’s revenue for the quarter was up 21.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.54 earnings per share. On average, analysts expect that Rexford Industrial Realty, Inc. will post 2.35 earnings per share for the current fiscal year.

Rexford Industrial Realty Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th will be issued a dividend of $0.4175 per share. This is a boost from Rexford Industrial Realty’s previous quarterly dividend of $0.42. This represents a $1.67 annualized dividend and a dividend yield of 3.30%. The ex-dividend date of this dividend is Monday, September 30th. Rexford Industrial Realty’s payout ratio is currently 153.21%.

Insider Transactions at Rexford Industrial Realty

In related news, CEO Howard Schwimmer sold 30,358 shares of the company’s stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $48.86, for a total value of $1,483,291.88. Following the transaction, the chief executive officer now directly owns 50,673 shares in the company, valued at $2,475,882.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CEO Howard Schwimmer sold 30,358 shares of the company’s stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $48.86, for a total value of $1,483,291.88. Following the transaction, the chief executive officer now directly owns 50,673 shares in the company, valued at $2,475,882.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Laura E. Clark sold 14,185 shares of the company’s stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $50.15, for a total value of $711,377.75. The disclosure for this sale can be found here. Insiders own 1.20% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on REXR shares. Evercore ISI lifted their price objective on Rexford Industrial Realty from $55.00 to $57.00 and gave the company an “outperform” rating in a research note on Wednesday, August 28th. Scotiabank lifted their price objective on Rexford Industrial Realty from $51.00 to $55.00 and gave the company a “sector outperform” rating in a research note on Monday, August 26th. JPMorgan Chase & Co. lifted their price target on Rexford Industrial Realty from $47.00 to $52.00 and gave the company a “neutral” rating in a research note on Thursday, July 25th. StockNews.com upgraded Rexford Industrial Realty from a “sell” rating to a “hold” rating in a research note on Monday, July 22nd. Finally, Truist Financial lifted their price target on Rexford Industrial Realty from $50.00 to $54.00 and gave the company a “buy” rating in a research note on Tuesday, July 30th. One research analyst has rated the stock with a sell rating, five have given a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $54.00.

About Rexford Industrial Realty

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.