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

Impax Asset Management Group plc purchased a new position in shares of Rexford Industrial Realty, Inc. (NYSE:REXR - Free Report) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 13,260 shares of the real estate investment trust's stock, valued at approximately $667,000.

Several other large investors have also modified their holdings of the stock. Asset Management One Co. Ltd. raised its position in Rexford Industrial Realty by 15.8% in the third quarter. Asset Management One Co. Ltd. now owns 471,682 shares of the real estate investment trust's stock worth $23,730,000 after acquiring an additional 64,264 shares in the last quarter. Van ECK Associates Corp raised its position in Rexford Industrial Realty by 15.8% in the third quarter. Van ECK Associates Corp now owns 100,722 shares of the real estate investment trust's stock worth $5,067,000 after acquiring an additional 13,709 shares in the last quarter. US Bancorp DE raised its position in Rexford Industrial Realty by 13.8% in the third quarter. US Bancorp DE now owns 5,402 shares of the real estate investment trust's stock worth $272,000 after acquiring an additional 653 shares in the last quarter. First Trust Direct Indexing L.P. purchased a new position in Rexford Industrial Realty in the third quarter worth $228,000. Finally, Highline Wealth Partners LLC purchased a new position in Rexford Industrial Realty in the third quarter worth $177,000. Hedge funds and other institutional investors own 99.52% of the company's stock.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. JPMorgan Chase & Co. raised their price target on Rexford Industrial Realty from $47.00 to $52.00 and gave the company a "neutral" rating in a research report on Thursday, July 25th. Mizuho dropped their price target on Rexford Industrial Realty from $50.00 to $49.00 and set a "neutral" rating for the company in a research report on Thursday, September 5th. Truist Financial raised their price target on Rexford Industrial Realty from $50.00 to $54.00 and gave the company a "buy" rating in a research report on Tuesday, July 30th. Evercore ISI restated an "outperform" rating on shares of Rexford Industrial Realty in a research report on Friday, October 18th. Finally, Scotiabank cut Rexford Industrial Realty from a "sector outperform" rating to a "sector perform" rating and dropped their price target for the company from $55.00 to $48.00 in a research report on Friday, October 25th. Two research 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's stock. According to data from MarketBeat, Rexford Industrial Realty currently has a consensus rating of "Hold" and a consensus price target of $51.45.

Rexford Industrial Realty Stock Down 0.3 %

Shares of NYSE:REXR traded down $0.11 during mid-day trading on Thursday, hitting $42.59. 1,403,131 shares of the company traded hands, compared to its average volume of 1,725,823. The firm's 50 day simple moving average is $47.92 and its 200 day simple moving average is $47.06. Rexford Industrial Realty, Inc. has a 52-week low of $41.89 and a 52-week high of $58.02. The firm has a market cap of $9.47 billion, a P/E ratio of 34.63, a PEG ratio of 2.06 and a beta of 0.94. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.20 and a current ratio of 1.20.

Rexford Industrial Realty (NYSE:REXR - Get Free Report) last announced its earnings results on Wednesday, October 16th. The real estate investment trust reported $0.30 earnings per share (EPS) 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 during the quarter, compared to analyst estimates of $235.81 million. During the same period in the previous year, the company earned $0.56 earnings per share. The business's revenue for the quarter was up 17.7% on a year-over-year basis. On average, equities analysts anticipate that Rexford Industrial Realty, Inc. will post 2.34 EPS for the current year.

Rexford Industrial Realty Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be issued a $0.4175 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $1.67 dividend on an annualized basis and a dividend yield of 3.92%. Rexford Industrial Realty's dividend payout ratio (DPR) is 135.77%.

Insider Activity

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 transaction of $711,377.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company 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.