Daiwa Securities Group Inc. Acquires 237,624 Shares of Rexford Industrial Realty, Inc. (NYSE:REXR)

Daiwa Securities Group Inc. lifted its position in shares of Rexford Industrial Realty, Inc. (NYSE:REXR - Free Report) by 19.6% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 1,448,419 shares of the real estate investment trust's stock after acquiring an additional 237,624 shares during the period. Daiwa Securities Group Inc. owned 0.65% of Rexford Industrial Realty worth $72,870,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. Canada Pension Plan Investment Board grew its position in Rexford Industrial Realty by 41.9% in the 2nd quarter. Canada Pension Plan Investment Board now owns 3,175,465 shares of the real estate investment trust's stock worth $141,594,000 after purchasing an additional 938,177 shares during the last quarter. Massachusetts Financial Services Co. MA grew its holdings in Rexford Industrial Realty by 38.0% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 2,907,560 shares of the real estate investment trust's stock worth $129,648,000 after buying an additional 800,137 shares in the last quarter. PGGM Investments increased its position in Rexford Industrial Realty by 16.5% in the 2nd quarter. PGGM Investments now owns 2,833,520 shares of the real estate investment trust's stock valued at $126,347,000 after acquiring an additional 401,593 shares during the period. Raymond James & Associates raised its stake in Rexford Industrial Realty by 264.5% during the 2nd quarter. Raymond James & Associates now owns 361,672 shares of the real estate investment trust's stock valued at $16,127,000 after acquiring an additional 262,435 shares in the last quarter. Finally, Masterton Capital Management LP boosted its position in Rexford Industrial Realty by 417.6% during the 2nd quarter. Masterton Capital Management LP now owns 302,774 shares of the real estate investment trust's stock worth $13,501,000 after acquiring an additional 244,274 shares during the period. Institutional investors and hedge funds own 99.52% of the company's stock.

Analyst Ratings Changes

REXR has been the subject of a number of research analyst reports. Bank of America lowered shares of Rexford Industrial Realty from a "buy" rating to a "neutral" rating and reduced their price target for the stock from $66.00 to $49.00 in a research note on Monday, October 21st. Truist Financial decreased their price target on Rexford Industrial Realty from $54.00 to $50.00 and set a "buy" rating for the company in a research note on Tuesday, November 12th. StockNews.com cut Rexford Industrial Realty from a "hold" rating to a "sell" rating in a research report on Monday, October 21st. Evercore ISI restated an "outperform" rating on shares of Rexford Industrial Realty in a report on Friday, October 18th. Finally, Wells Fargo & Company lowered their target price on Rexford Industrial Realty from $66.00 to $61.00 and set an "overweight" rating on the stock in a report on Wednesday, August 28th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $51.09.

Rexford Industrial Realty Stock Up 0.3 %

REXR stock traded up $0.11 during mid-day trading on Friday, hitting $42.08. The stock had a trading volume of 2,239,493 shares, compared to its average volume of 1,813,651. Rexford Industrial Realty, Inc. has a 1-year low of $41.16 and a 1-year high of $58.02. The company has a fifty day moving average of $46.16 and a 200 day moving average of $47.00. 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 $9.36 billion, a price-to-earnings ratio of 34.21, a PEG ratio of 1.99 and a beta of 0.94.

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

Rexford Industrial Realty Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be paid a dividend of $0.4175 per share. The ex-dividend date is Tuesday, December 31st. This represents a $1.67 annualized dividend and a yield of 3.97%. Rexford Industrial Realty's payout ratio is 135.77%.

Insider Buying and Selling at Rexford Industrial Realty

In related news, CFO Laura E. Clark sold 14,185 shares of the company's 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 document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 1.20% of the company's stock.

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.