Rexford Industrial Realty, Inc. (NYSE:REXR) Shares Bought by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. grew its stake in shares of Rexford Industrial Realty, Inc. (NYSE:REXR) by 22.0% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 32,012 shares of the real estate investment trust’s stock after acquiring an additional 5,778 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Rexford Industrial Realty were worth $1,611,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of REXR. Vanguard Group Inc. grew its stake in 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 valued at $1,495,668,000 after acquiring an additional 753,098 shares during the last quarter. Price T Rowe Associates Inc. MD increased its stake in shares of Rexford Industrial Realty by 26.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 19,933,431 shares of the real estate investment trust’s stock worth $1,002,654,000 after purchasing an additional 4,197,907 shares in the last quarter. Capital International Investors raised its position in shares of Rexford Industrial Realty by 687.7% during the 1st quarter. Capital International Investors now owns 19,590,676 shares of the real estate investment trust’s stock worth $985,411,000 after purchasing an additional 17,103,653 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in Rexford Industrial Realty by 6.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,326,694 shares of the real estate investment trust’s stock valued at $148,337,000 after buying an additional 200,027 shares in the last quarter. Finally, Canada Pension Plan Investment Board grew its holdings in Rexford Industrial Realty by 41.9% during the 2nd quarter. Canada Pension Plan Investment Board now owns 3,175,465 shares of the real estate investment trust’s stock valued at $141,594,000 after buying an additional 938,177 shares during the last quarter. Hedge funds and other institutional investors own 99.52% of the company’s stock.

Insider Activity 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 shares were sold at an average price of $50.15, for a total transaction of $711,377.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.20% of the stock is currently owned by insiders.

Rexford Industrial Realty Stock Performance

NYSE:REXR opened at $42.01 on Monday. The company has a market cap of $9.34 billion, a P/E ratio of 34.15, a P/E/G ratio of 2.01 and a beta of 0.94. The firm’s 50 day moving average is $46.92 and its two-hundred day moving average is $47.05. Rexford Industrial Realty, Inc. has a fifty-two week low of $41.16 and a fifty-two week high of $58.02. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 0.40.

Rexford Industrial Realty (NYSE:REXR) last issued its 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). 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%. Rexford Industrial Realty’s revenue was up 17.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.56 EPS. Analysts expect that Rexford Industrial Realty, Inc. will post 2.34 EPS 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. Investors of record on Tuesday, December 31st will be given a dividend of $0.4175 per share. This represents a $1.67 dividend on an annualized basis and a yield of 3.98%. The ex-dividend date of this dividend is Tuesday, December 31st. Rexford Industrial Realty’s dividend payout ratio (DPR) is presently 135.77%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. Bank of America cut Rexford Industrial Realty from a “buy” rating to a “neutral” rating and cut their price target for the stock from $66.00 to $49.00 in a report on Monday, October 21st. JPMorgan Chase & Co. boosted their target price 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. Industrial Alliance Securities set a $55.00 price target on shares of Rexford Industrial Realty in a report on Friday, October 18th. Truist Financial cut their price objective on shares of Rexford Industrial Realty from $54.00 to $50.00 and set a “buy” rating for the company in a research report on Tuesday, November 12th. Finally, Wells Fargo & Company decreased their target price on shares of Rexford Industrial Realty from $66.00 to $61.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 28th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $51.09.

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.