Westwood Holdings Group Inc. Grows Position in Rexford Industrial Realty, Inc. (NYSE:REXR)

Westwood Holdings Group Inc. raised its position in shares of Rexford Industrial Realty, Inc. (NYSE:REXR) by 21.3% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 417,009 shares of the real estate investment trust’s stock after buying an additional 73,152 shares during the quarter. Westwood Holdings Group Inc. owned about 0.19% of Rexford Industrial Realty worth $18,594,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings 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 valued at $1,495,668,000 after buying an additional 753,098 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings 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 valued at $1,002,654,000 after buying an additional 4,197,907 shares in the last quarter. Capital International Investors increased its position in shares of 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 valued at $985,411,000 after purchasing an additional 17,103,653 shares during the last quarter. Centersquare Investment Management LLC increased its position in shares of 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 valued at $198,083,000 after purchasing an additional 42,632 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its position in shares of Rexford Industrial Realty by 6.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,326,694 shares of the real estate investment trust’s stock valued at $148,337,000 after purchasing an additional 200,027 shares during the last quarter. Hedge funds and other institutional investors own 99.52% of the company’s stock.

Insiders Place Their Bets

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

Analysts Set New Price Targets

Several research firms have recently weighed in on REXR. Scotiabank boosted their target price on Rexford Industrial Realty from $51.00 to $55.00 and gave the company a “sector outperform” rating in a research report on Monday, August 26th. Mizuho cut their target price on Rexford Industrial Realty from $50.00 to $49.00 and set a “neutral” rating on the stock in a research report on Thursday, September 5th. Wells Fargo & Company cut their target price 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. JPMorgan Chase & Co. boosted their target price on Rexford Industrial Realty from $47.00 to $52.00 and gave the company a “neutral” rating in a research report on Thursday, July 25th. Finally, Truist Financial boosted their target price on Rexford Industrial Realty from $50.00 to $54.00 and gave the company a “buy” rating in a research report on Tuesday, July 30th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $52.50.

Rexford Industrial Realty Price Performance

REXR opened at $51.13 on Friday. Rexford Industrial Realty, Inc. has a 52-week low of $41.56 and a 52-week high of $58.02. The stock has a market cap of $11.22 billion, a P/E ratio of 46.91, a PEG ratio of 2.10 and a beta of 0.93. The business has a fifty day moving average of $50.14 and a 200 day moving average of $47.68. The company has a quick ratio of 1.73, a current ratio of 1.73 and a debt-to-equity ratio of 0.41.

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). Rexford Industrial Realty had a return on equity of 3.31% and a net margin of 30.71%. The firm had revenue of $237.60 million during the quarter, compared to analysts’ expectations of $227.70 million. During the same quarter in the prior year, the company posted $0.54 earnings per share. Rexford Industrial Realty’s quarterly revenue was up 21.3% compared to the same quarter last year. As a group, sell-side analysts anticipate that Rexford Industrial Realty, Inc. will post 2.35 EPS for the current year.

Rexford Industrial Realty Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th will be issued a $0.4175 dividend. This represents a $1.67 annualized dividend and a dividend yield of 3.27%. This is a boost from Rexford Industrial Realty’s previous quarterly dividend of $0.42. The ex-dividend date of this dividend is Monday, September 30th. Rexford Industrial Realty’s dividend payout ratio is currently 153.21%.

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.