Westwood Holdings Group Inc. Acquires 83,357 Shares of Rexford Industrial Realty, Inc. (NYSE:REXR)

Westwood Holdings Group Inc. boosted its holdings in shares of Rexford Industrial Realty, Inc. (NYSE:REXR) by 32.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 343,857 shares of the real estate investment trust’s stock after buying an additional 83,357 shares during the quarter. Westwood Holdings Group Inc.’s holdings in Rexford Industrial Realty were worth $17,296,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Los Angeles Capital Management LLC boosted its stake in shares of Rexford Industrial Realty by 2.3% during the 1st quarter. Los Angeles Capital Management LLC now owns 9,165 shares of the real estate investment trust’s stock worth $461,000 after acquiring an additional 210 shares during the period. Lindbrook Capital LLC lifted its holdings in Rexford Industrial Realty by 4.9% during the 4th quarter. Lindbrook Capital LLC now owns 5,554 shares of the real estate investment trust’s stock valued at $312,000 after purchasing an additional 259 shares during the last quarter. Securian Asset Management Inc. boosted its position in Rexford Industrial Realty by 1.9% during the fourth quarter. Securian Asset Management Inc. now owns 17,815 shares of the real estate investment trust’s stock worth $999,000 after purchasing an additional 330 shares during the period. Inspire Investing LLC increased its holdings in shares of Rexford Industrial Realty by 4.9% in the first quarter. Inspire Investing LLC now owns 7,126 shares of the real estate investment trust’s stock valued at $358,000 after purchasing an additional 331 shares during the last quarter. Finally, Arizona State Retirement System raised its position in shares of Rexford Industrial Realty by 0.7% in the fourth quarter. Arizona State Retirement System now owns 57,624 shares of the real estate investment trust’s stock valued at $3,233,000 after purchasing an additional 407 shares during the period. Institutional investors own 99.52% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently commented on REXR shares. Wedbush began coverage on shares of Rexford Industrial Realty in a research note on Monday, April 22nd. They issued a “neutral” rating and a $45.00 price target on the stock. Mizuho reduced their price objective on Rexford Industrial Realty from $52.00 to $50.00 and set a “neutral” rating for the company in a report on Friday, May 31st. Scotiabank lowered their target price on Rexford Industrial Realty from $55.00 to $51.00 and set a “sector outperform” rating on the stock in a research note on Thursday, May 16th. Truist Financial boosted 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. Finally, Evercore ISI started coverage on Rexford Industrial Realty in a report on Wednesday, July 10th. They issued an “outperform” rating and a $54.00 price objective on the stock. One analyst has rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $52.70.

Insider Buying and Selling at Rexford Industrial Realty

In related 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 transaction 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 filing with the SEC, which is available through this link. Company insiders own 1.20% of the company’s stock.

Rexford Industrial Realty Price Performance

NYSE REXR traded down $1.30 during midday trading on Friday, hitting $49.17. The company had a trading volume of 1,496,567 shares, compared to its average volume of 1,896,039. The firm has a 50-day moving average price of $46.29 and a 200-day moving average price of $48.31. The company has a market capitalization of $10.79 billion, a PE ratio of 45.11, a P/E/G ratio of 2.07 and a beta of 0.92. 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, Inc. has a twelve month low of $41.56 and a twelve month high of $58.02.

Rexford Industrial Realty (NYSE:REXR) last posted its quarterly earnings results on Wednesday, July 17th. The real estate investment trust reported $0.37 EPS for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.21). The company 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 firm’s revenue for the quarter was up 21.3% compared to the same quarter last year. During the same period last year, the firm earned $0.54 EPS. As a group, analysts anticipate that Rexford Industrial Realty, Inc. will post 2.35 earnings per share for the current fiscal year.

Rexford Industrial Realty Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th will be given a dividend of $0.4175 per share. 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 3.40%. The ex-dividend date is Monday, September 30th. Rexford Industrial Realty’s payout ratio is currently 153.21%.

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.