Rexford Industrial Realty, Inc. (NYSE:REXR) Shares Bought by DekaBank Deutsche Girozentrale

DekaBank Deutsche Girozentrale grew its position in shares of Rexford Industrial Realty, Inc. (NYSE:REXR) by 19.6% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 74,672 shares of the real estate investment trust’s stock after purchasing an additional 12,227 shares during the period. DekaBank Deutsche Girozentrale’s holdings in Rexford Industrial Realty were worth $3,249,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in REXR. Massmutual Trust Co. FSB ADV lifted its stake 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 purchasing an additional 349 shares in the last quarter. V Square Quantitative Management LLC acquired a new stake in shares of Rexford Industrial Realty in the second quarter valued at $26,000. Headlands Technologies LLC acquired a new stake in shares of Rexford Industrial Realty in the second quarter valued at $41,000. EverSource Wealth Advisors LLC raised its stake in shares of Rexford Industrial Realty by 1,252.2% in the first quarter. EverSource Wealth Advisors LLC now owns 933 shares of the real estate investment trust’s stock valued at $47,000 after acquiring an additional 864 shares in the last quarter. Finally, Advisors Asset Management Inc. raised its stake in shares of Rexford Industrial Realty by 136.6% in the first quarter. Advisors Asset Management Inc. now owns 1,086 shares of the real estate investment trust’s stock valued at $55,000 after acquiring an additional 627 shares in the last quarter. 99.52% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CFO Laura E. Clark sold 14,185 shares of the firm’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $50.15, for a total transaction of $711,377.75. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other Rexford Industrial Realty news, CEO Howard Schwimmer sold 30,358 shares of Rexford Industrial Realty 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 sale, the chief executive officer now owns 50,673 shares of the company’s stock, valued at approximately $2,475,882.78. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Laura E. Clark sold 14,185 shares of Rexford Industrial Realty 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. Corporate insiders own 1.20% of the company’s stock.

Rexford Industrial Realty Stock Performance

Shares of REXR stock opened at $51.02 on Thursday. The stock’s 50-day moving average is $50.04 and its two-hundred day moving average is $47.68. The firm has a market cap of $11.11 billion, a price-to-earnings ratio of 46.81, a PEG ratio of 2.03 and a beta of 0.93. Rexford Industrial Realty, Inc. has a 1 year low of $41.56 and a 1 year high of $58.02. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.73 and a current ratio of 1.73.

Rexford Industrial Realty (NYSE:REXR) last issued its quarterly earnings data on Wednesday, July 17th. The real estate investment trust reported $0.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.58 by ($0.21). The firm had revenue of $237.60 million for the quarter, compared to analysts’ expectations of $227.70 million. Rexford Industrial Realty had a return on equity of 3.31% and a net margin of 30.71%. The business’s revenue for the quarter was up 21.3% compared to the same quarter last year. During the same period in the previous year, the business posted $0.54 EPS. Analysts predict 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 dividend of $0.4175 per share. The ex-dividend date of this dividend is Monday, September 30th. This represents a $1.67 dividend on an annualized basis and a dividend yield of 3.27%. This is a positive change from Rexford Industrial Realty’s previous quarterly dividend of $0.42. Rexford Industrial Realty’s dividend payout ratio (DPR) is currently 153.21%.

Analysts Set New Price Targets

Several analysts have recently issued reports on the company. Evercore ISI increased their price objective on Rexford Industrial Realty from $57.00 to $58.00 and gave the company an “outperform” rating in a research note on Monday. Truist Financial increased their price objective 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. Scotiabank increased 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. Mizuho reduced their price objective on Rexford Industrial Realty from $50.00 to $49.00 and set a “neutral” rating on the stock in a research note on Thursday, September 5th. Finally, JPMorgan Chase & Co. raised 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. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $54.09.

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.