Rexford Industrial Realty, Inc. (NYSE:REXR) Stake Lifted by Masterton Capital Management LP

Masterton Capital Management LP grew its stake in shares of Rexford Industrial Realty, Inc. (NYSE:REXR) by 417.6% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 302,774 shares of the real estate investment trust’s stock after acquiring an additional 244,274 shares during the period. Rexford Industrial Realty comprises 9.6% of Masterton Capital Management LP’s investment portfolio, making the stock its 3rd biggest position. Masterton Capital Management LP owned approximately 0.14% of Rexford Industrial Realty worth $13,501,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently modified their holdings of REXR. Capital International Investors increased its position in Rexford Industrial Realty by 687.7% in the first quarter. Capital International Investors now owns 19,590,676 shares of the real estate investment trust’s stock worth $985,411,000 after buying an additional 17,103,653 shares during the last quarter. Price T Rowe Associates Inc. MD raised its stake in Rexford Industrial Realty by 26.7% in 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 acquiring an additional 4,197,907 shares during the period. Canada Pension Plan Investment Board lifted its holdings in Rexford Industrial Realty by 262.7% during the first quarter. Canada Pension Plan Investment Board now owns 2,237,288 shares of the real estate investment trust’s stock valued at $112,536,000 after purchasing an additional 1,620,378 shares during the last quarter. Vanguard Group Inc. boosted its position in Rexford Industrial Realty by 4.5% during the fourth quarter. Vanguard Group Inc. now owns 28,981,854 shares of the real estate investment trust’s stock worth $1,625,882,000 after purchasing an additional 1,235,894 shares during the period. Finally, Massachusetts Financial Services Co. MA raised its position in shares of Rexford Industrial Realty by 38.0% in the second quarter. Massachusetts Financial Services Co. MA now owns 2,907,560 shares of the real estate investment trust’s stock valued at $129,648,000 after purchasing an additional 800,137 shares during the period. Hedge funds and other institutional investors own 99.52% of the company’s stock.

Rexford Industrial Realty Price Performance

Shares of Rexford Industrial Realty stock opened at $51.81 on Tuesday. The business’s 50-day moving average price is $50.17 and its 200-day moving average price is $47.64. The firm has a market capitalization of $11.29 billion, a PE ratio of 47.53, a price-to-earnings-growth ratio of 2.10 and a beta of 0.93. Rexford Industrial Realty, Inc. has a 12 month low of $41.56 and a 12 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.

Rexford Industrial Realty (NYSE:REXR) last posted its quarterly 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 business had revenue of $237.60 million during the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same period in the prior year, the firm earned $0.54 earnings per share. Sell-side analysts forecast that Rexford Industrial Realty, Inc. will post 2.35 EPS for the current fiscal year.

Rexford Industrial Realty Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 30th will be paid a $0.4175 dividend. This represents a $1.67 annualized dividend and a dividend yield of 3.22%. This is an increase from Rexford Industrial Realty’s previous quarterly dividend of $0.42. The ex-dividend date is Monday, September 30th. Rexford Industrial Realty’s payout ratio is presently 153.21%.

Insider Activity at Rexford Industrial Realty

In other Rexford Industrial Realty news, CFO Laura E. Clark sold 14,185 shares of the firm’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $50.15, for a total value of $711,377.75. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other Rexford Industrial Realty news, CFO Laura E. Clark sold 14,185 shares of the company’s stock in a transaction that occurred on 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 Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 completion of the sale, the chief executive officer now owns 50,673 shares in the company, valued at $2,475,882.78. The disclosure for this sale can be found here. 1.20% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts recently commented on REXR shares. StockNews.com raised shares of Rexford Industrial Realty from a “sell” rating to a “hold” rating in a report on Monday, July 22nd. Scotiabank lifted their price target 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. Truist Financial boosted 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. JPMorgan Chase & Co. lifted their target price on Rexford Industrial Realty from $47.00 to $52.00 and gave the company a “neutral” rating in a report on Thursday, July 25th. Finally, Mizuho lowered their price target on shares of Rexford Industrial Realty from $50.00 to $49.00 and set a “neutral” rating on the stock in a report on Thursday, September 5th. One analyst has rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, Rexford Industrial Realty presently has a consensus rating of “Hold” and a consensus target price of $52.50.

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.