IFM Investors Pty Ltd Cuts Position in Rexford Industrial Realty, Inc. $REXR

IFM Investors Pty Ltd lessened its stake in Rexford Industrial Realty, Inc. (NYSE:REXR) by 13.8% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 38,399 shares of the real estate investment trust’s stock after selling 6,153 shares during the quarter. IFM Investors Pty Ltd’s holdings in Rexford Industrial Realty were worth $1,366,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the stock. Canoe Financial LP purchased a new position in shares of Rexford Industrial Realty in the 2nd quarter valued at about $1,227,000. Wealth Enhancement Advisory Services LLC increased its holdings in Rexford Industrial Realty by 202.8% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 62,574 shares of the real estate investment trust’s stock valued at $2,323,000 after acquiring an additional 41,907 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd increased its holdings in Rexford Industrial Realty by 7.8% during the 2nd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 50,277 shares of the real estate investment trust’s stock valued at $1,788,000 after acquiring an additional 3,638 shares in the last quarter. Pallas Capital Advisors LLC purchased a new position in Rexford Industrial Realty during the 2nd quarter valued at about $267,000. Finally, Voya Investment Management LLC increased its holdings in Rexford Industrial Realty by 2.7% during the 1st quarter. Voya Investment Management LLC now owns 27,489 shares of the real estate investment trust’s stock valued at $1,076,000 after acquiring an additional 718 shares in the last quarter. Hedge funds and other institutional investors own 99.52% of the company’s stock.

Analyst Upgrades and Downgrades

REXR has been the subject of several recent research reports. Truist Financial raised their target price on shares of Rexford Industrial Realty from $37.00 to $42.00 and gave the company a “buy” rating in a report on Wednesday, August 20th. Scotiabank raised their target price on shares of Rexford Industrial Realty from $40.00 to $43.00 and gave the company a “sector perform” rating in a report on Thursday, September 4th. Industrial Alliance Securities set a $40.00 target price on shares of Rexford Industrial Realty in a report on Monday, September 15th. Evercore ISI raised their target price on shares of Rexford Industrial Realty from $39.00 to $40.00 and gave the company an “in-line” rating in a report on Monday, September 15th. Finally, Barclays raised their target price on shares of Rexford Industrial Realty from $35.00 to $39.00 and gave the company an “underweight” rating in a report on Monday, September 15th. Two research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $41.09.

Insider Transactions at Rexford Industrial Realty

In related news, General Counsel David E. Lanzer sold 26,449 shares of the company’s stock in a transaction on Monday, July 21st. The shares were sold at an average price of $36.87, for a total value of $975,174.63. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.20% of the stock is owned by corporate insiders.

Rexford Industrial Realty Price Performance

Shares of REXR stock opened at $42.18 on Tuesday. The company has a market capitalization of $9.98 billion, a PE ratio of 31.24, a price-to-earnings-growth ratio of 4.66 and a beta of 1.13. The firm has a fifty day simple moving average of $39.32 and a 200-day simple moving average of $37.10. The company has a current ratio of 5.59, a quick ratio of 5.59 and a debt-to-equity ratio of 0.37. Rexford Industrial Realty, Inc. has a twelve month low of $29.68 and a twelve month high of $52.37.

Rexford Industrial Realty (NYSE:REXR) last announced its earnings results on Wednesday, July 16th. The real estate investment trust reported $0.59 earnings per share for the quarter, beating the consensus estimate of $0.58 by $0.01. The business had revenue of $241.57 million during the quarter, compared to the consensus estimate of $251.72 million. Rexford Industrial Realty had a net margin of 32.04% and a return on equity of 3.62%. The business’s quarterly revenue was up 5.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.60 earnings per share. Rexford Industrial Realty has set its FY 2025 guidance at 2.370-2.410 EPS. Equities research analysts anticipate that Rexford Industrial Realty, Inc. will post 2.38 earnings per share for the current fiscal year.

Rexford Industrial Realty Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th will be issued a $0.43 dividend. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $1.72 annualized dividend and a yield of 4.1%. Rexford Industrial Realty’s dividend payout ratio is currently 127.41%.

Rexford Industrial Realty Profile

Rexford Industrial Realty, Inc is a self-administered and self-managed real estate investment trust, which engages in owning and operating industrial properties in infill markets. The company was founded by Richard S. Ziman on January 18, 2013 and is headquartered in Los Angeles, CA.