AEGON ASSET MANAGEMENT UK Plc Grows Stock Position in Rexford Industrial Realty, Inc. (NYSE:REXR)

AEGON ASSET MANAGEMENT UK Plc raised its holdings in Rexford Industrial Realty, Inc. (NYSE:REXR) by 34.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 32,596 shares of the real estate investment trust’s stock after purchasing an additional 8,398 shares during the quarter. AEGON ASSET MANAGEMENT UK Plc’s holdings in Rexford Industrial Realty were worth $1,640,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently modified their holdings of the business. M&G Plc acquired a new stake in shares of Rexford Industrial Realty in the 1st quarter worth approximately $33,644,000. Magnetar Financial LLC acquired a new position in shares of Rexford Industrial Realty during the 1st quarter worth $1,671,000. Vanguard Group Inc. boosted its position in shares of Rexford Industrial Realty by 2.6% in 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 buying an additional 753,098 shares in the last quarter. DekaBank Deutsche Girozentrale grew its stake in 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 acquiring an additional 12,006 shares during the last quarter. Finally, Russell Investments Group Ltd. increased its holdings in Rexford Industrial Realty by 32.8% during the 1st quarter. Russell Investments Group Ltd. now owns 159,845 shares of the real estate investment trust’s stock valued at $8,040,000 after acquiring an additional 39,524 shares in the last quarter. 99.52% of the stock is currently owned by hedge funds and other institutional investors.

Rexford Industrial Realty Price Performance

Shares of Rexford Industrial Realty stock opened at $43.11 on Friday. The business’s fifty day moving average price is $47.76 and its 200 day moving average price is $47.08. Rexford Industrial Realty, Inc. has a twelve month low of $41.89 and a twelve month high of $58.02. The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 0.40. The stock has a market capitalization of $9.59 billion, a P/E ratio of 35.05, a PEG ratio of 2.04 and a beta of 0.94.

Rexford Industrial Realty (NYSE:REXR) last released its quarterly earnings data on Wednesday, October 16th. The real estate investment trust reported $0.30 earnings per share 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 analyst estimates of $235.81 million. Rexford Industrial Realty had a net margin of 30.40% and a return on equity of 3.35%. The business’s revenue for the quarter was up 17.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.56 earnings per share. As a group, research analysts anticipate that Rexford Industrial Realty, Inc. will post 2.34 earnings per share for the current year.

Rexford Industrial Realty Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be paid a $0.4175 dividend. This represents a $1.67 dividend on an annualized basis and a dividend yield of 3.87%. The ex-dividend date of this dividend is Tuesday, December 31st. Rexford Industrial Realty’s dividend payout ratio is presently 135.77%.

Insider Activity at Rexford Industrial Realty

In related news, CFO Laura E. Clark sold 14,185 shares of the 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 1.20% of the company’s stock.

Wall Street Analysts Forecast Growth

REXR has been the subject of several recent research reports. Truist Financial raised their price target on Rexford Industrial Realty from $50.00 to $54.00 and gave the stock a “buy” rating in a research report on Tuesday, July 30th. Mizuho reduced their target price 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. Industrial Alliance Securities set a $55.00 price target on shares of Rexford Industrial Realty in a report on Friday, October 18th. JPMorgan Chase & Co. upped their price objective on shares of Rexford Industrial Realty from $47.00 to $52.00 and gave the company a “neutral” rating in a research note on Thursday, July 25th. Finally, Evercore ISI reaffirmed an “outperform” rating on shares of Rexford Industrial Realty in a research note on Friday, October 18th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Rexford Industrial Realty presently has a consensus rating of “Hold” and a consensus target price of $51.45.

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.