Impax Asset Management Group plc Makes New $667,000 Investment in Rexford Industrial Realty, Inc. (NYSE:REXR)

Impax Asset Management Group plc acquired a new stake in Rexford Industrial Realty, Inc. (NYSE:REXR) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 13,260 shares of the real estate investment trust’s stock, valued at approximately $667,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. M&G Plc raised its holdings in shares of Rexford Industrial Realty by 12.2% in the second quarter. M&G Plc now owns 754,952 shares of the real estate investment trust’s stock valued at $33,973,000 after buying an additional 82,078 shares during the last quarter. Magnetar Financial LLC purchased a new stake in Rexford Industrial Realty during the 1st quarter valued at approximately $1,671,000. 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. DekaBank Deutsche Girozentrale grew its stake in shares of Rexford Industrial Realty by 23.8% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 62,445 shares of the real estate investment trust’s stock valued at $3,089,000 after purchasing an additional 12,006 shares during the last quarter. Finally, Russell Investments Group Ltd. increased its holdings in shares of Rexford Industrial Realty by 32.8% in the first quarter. Russell Investments Group Ltd. now owns 159,845 shares of the real estate investment trust’s stock valued at $8,040,000 after purchasing an additional 39,524 shares during the period. Institutional investors and hedge funds own 99.52% of the company’s stock.

Insider Buying and Selling

In related news, CFO Laura E. Clark sold 14,185 shares of the firm’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 transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 1.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. Evercore ISI reaffirmed an “outperform” rating on shares of Rexford Industrial Realty in a report on Friday, October 18th. Truist Financial cut their price target on shares of Rexford Industrial Realty from $54.00 to $50.00 and set a “buy” rating for the company in a report on Tuesday, November 12th. Scotiabank lowered Rexford Industrial Realty from a “sector outperform” rating to a “sector perform” rating and lowered their price objective for the company from $55.00 to $48.00 in a report on Friday, October 25th. Mizuho cut their target price on Rexford Industrial Realty from $50.00 to $49.00 and set a “neutral” rating for the company in a research note on Thursday, September 5th. Finally, Industrial Alliance Securities set a $55.00 price target on Rexford Industrial Realty in a research note on Friday, October 18th. Two analysts have rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $51.09.

Rexford Industrial Realty Stock Up 0.6 %

REXR stock opened at $42.01 on Friday. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.20 and a quick ratio of 1.20. The company’s 50 day simple moving average is $46.92 and its 200-day simple moving average is $47.05. Rexford Industrial Realty, Inc. has a 12 month low of $41.16 and a 12 month high of $58.02. The firm has a market capitalization of $9.34 billion, a PE ratio of 34.15, a P/E/G ratio of 2.00 and a beta of 0.94.

Rexford Industrial Realty (NYSE:REXR) last released its earnings results on Wednesday, October 16th. The real estate investment trust reported $0.30 EPS for the quarter, missing the consensus estimate of $0.58 by ($0.28). The firm had revenue of $241.84 million during the quarter, compared to analysts’ expectations of $235.81 million. Rexford Industrial Realty had a return on equity of 3.35% and a net margin of 30.40%. The firm’s revenue was up 17.7% on a year-over-year basis. During the same period in the previous year, the firm posted $0.56 earnings per share. Equities analysts expect that Rexford Industrial Realty, Inc. will post 2.34 earnings per share for the current fiscal year.

Rexford Industrial Realty Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be issued a dividend of $0.4175 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $1.67 dividend on an annualized basis and a dividend yield of 3.98%. Rexford Industrial Realty’s payout ratio is 135.77%.

Rexford Industrial Realty 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.