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

Daiwa Securities Group Inc. raised its stake in shares of Rexford Industrial Realty, Inc. (NYSE:REXR) by 19.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,448,419 shares of the real estate investment trust’s stock after purchasing an additional 237,624 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Rexford Industrial Realty were worth $72,870,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of REXR. M&G Plc lifted its holdings in shares of Rexford Industrial Realty by 12.2% during the 2nd quarter. M&G Plc now owns 754,952 shares of the real estate investment trust’s stock worth $33,973,000 after acquiring an additional 82,078 shares during the last quarter. DekaBank Deutsche Girozentrale lifted its stake in Rexford Industrial Realty by 23.8% during the first quarter. DekaBank Deutsche Girozentrale now owns 62,445 shares of the real estate investment trust’s stock worth $3,089,000 after purchasing an additional 12,006 shares during the last quarter. SG Americas Securities LLC boosted its holdings in shares of Rexford Industrial Realty by 61.4% in the 2nd quarter. SG Americas Securities LLC now owns 50,822 shares of the real estate investment trust’s stock worth $2,266,000 after purchasing an additional 19,340 shares in the last quarter. Asset Management One Co. Ltd. increased its position in shares of Rexford Industrial Realty by 15.8% during the 3rd quarter. Asset Management One Co. Ltd. now owns 471,682 shares of the real estate investment trust’s stock valued at $23,730,000 after purchasing an additional 64,264 shares during the last quarter. Finally, PGGM Investments raised its holdings in shares of Rexford Industrial Realty by 16.5% during 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 buying an additional 401,593 shares in the last quarter. Hedge funds and other institutional investors own 99.52% of the company’s stock.

Rexford Industrial Realty Trading Up 0.3 %

REXR opened at $42.08 on Friday. The firm 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, Inc. has a one year low of $41.16 and a one year high of $58.02. The business has a 50 day simple moving average of $46.16 and a two-hundred day simple moving average of $46.98. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.20 and a quick ratio of 1.20.

Rexford Industrial Realty (NYSE:REXR) last announced its quarterly earnings results on Wednesday, October 16th. The real estate investment trust reported $0.30 EPS for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.28). The business had revenue of $241.84 million during the quarter, compared to analysts’ expectations of $235.81 million. Rexford Industrial Realty had a return on equity of 3.35% and a net margin of 30.40%. The business’s revenue was up 17.7% compared to the same quarter last year. During the same period in the previous year, the business earned $0.56 EPS. Analysts predict that Rexford Industrial Realty, Inc. will post 2.34 EPS for the current year.

Rexford Industrial Realty Announces Dividend

The business also recently declared 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 annualized dividend and a dividend yield of 3.97%. The ex-dividend date of this dividend is Tuesday, December 31st. Rexford Industrial Realty’s dividend payout ratio is currently 135.77%.

Insider Buying and Selling

In other Rexford Industrial Realty news, CFO Laura E. Clark sold 14,185 shares of the company’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $50.15, for a total transaction of $711,377.75. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 1.20% of the stock is owned by insiders.

Analysts Set New Price Targets

Several analysts have issued reports on REXR shares. Bank of America lowered Rexford Industrial Realty from a “buy” rating to a “neutral” rating and cut their target price for the stock from $66.00 to $49.00 in a research note on Monday, October 21st. Industrial Alliance Securities set a $55.00 target price on shares of Rexford Industrial Realty in a report on Friday, October 18th. Evercore ISI reissued an “outperform” rating on shares of Rexford Industrial Realty in a research note on Friday, October 18th. Truist Financial reduced their price objective on Rexford Industrial Realty from $54.00 to $50.00 and set a “buy” rating on the stock in a research note on Tuesday, November 12th. Finally, Mizuho lowered their target price on Rexford Industrial Realty from $50.00 to $49.00 and set a “neutral” rating for the company in a research note on Thursday, September 5th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, Rexford Industrial Realty currently has a consensus rating of “Hold” and an average 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.