Credit Suisse AG Grows Position in Rexford Industrial Realty, Inc. (NYSE:REXR)

Posted by Defense World Staff on Aug 24th, 2023

Credit Suisse AG increased its position in shares of Rexford Industrial Realty, Inc. (NYSE:REXR – Free Report) by 14.5% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 361,618 shares of the real estate investment trust’s stock after purchasing an additional 45,721 shares during the period. Credit Suisse AG owned approximately 0.18% of Rexford Industrial Realty worth $21,571,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the company. LPL Financial LLC boosted its position in Rexford Industrial Realty by 45.4% in the 1st quarter. LPL Financial LLC now owns 11,844 shares of the real estate investment trust’s stock valued at $706,000 after buying an additional 3,697 shares during the period. Reaves W H & Co. Inc. boosted its position in Rexford Industrial Realty by 49.5% in the 1st quarter. Reaves W H & Co. Inc. now owns 339,115 shares of the real estate investment trust’s stock valued at $20,228,000 after buying an additional 112,258 shares during the period. Principal Financial Group Inc. boosted its position in Rexford Industrial Realty by 1.5% in the 1st quarter. Principal Financial Group Inc. now owns 13,344,774 shares of the real estate investment trust’s stock valued at $796,013,000 after buying an additional 198,372 shares during the period. Tower Research Capital LLC TRC raised its holdings in shares of Rexford Industrial Realty by 73.8% in the 1st quarter. Tower Research Capital LLC TRC now owns 10,347 shares of the real estate investment trust’s stock valued at $617,000 after purchasing an additional 4,393 shares in the last quarter. Finally, Meiji Yasuda Asset Management Co Ltd. raised its holdings in shares of Rexford Industrial Realty by 6.6% in the 1st quarter. Meiji Yasuda Asset Management Co Ltd. now owns 55,421 shares of the real estate investment trust’s stock valued at $3,306,000 after purchasing an additional 3,423 shares in the last quarter. 98.36% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, CFO Laura E. Clark sold 7,410 shares of the stock in a transaction dated Friday, July 28th. The shares were sold at an average price of $54.48, for a total value of $403,696.80. Following the completion of the sale, the chief financial officer now directly owns 2,562 shares in the company, valued at $139,577.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 1.10% of the company’s stock.

Wall Street Analysts Forecast Growth

REXR has been the subject of several recent research reports. StockNews.com initiated coverage on shares of Rexford Industrial Realty in a report on Thursday, August 17th. They issued a “sell” rating for the company. Mizuho initiated coverage on shares of Rexford Industrial Realty in a report on Wednesday, June 28th. They issued a “neutral” rating and a $52.00 price target for the company. Citigroup lowered shares of Rexford Industrial Realty from a “buy” rating to a “neutral” rating and reduced their price target for the company from $66.00 to $53.00 in a report on Monday, June 12th. Finally, BMO Capital Markets lowered shares of Rexford Industrial Realty from an “outperform” rating to a “market perform” rating and reduced their price objective for the stock from $69.00 to $56.00 in a research note on Monday, June 12th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $60.67.

Get Our Latest Analysis on REXR

Rexford Industrial Realty Trading Up 2.2 %

NYSE REXR opened at $52.99 on Thursday. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.30. The company has a 50 day moving average price of $53.18 and a 200 day moving average price of $55.76. The firm has a market cap of $10.94 billion, a PE ratio of 53.53, a price-to-earnings-growth ratio of 2.07 and a beta of 0.83. Rexford Industrial Realty, Inc. has a 52 week low of $48.74 and a 52 week high of $66.71.

Rexford Industrial Realty (NYSE:REXR – Get Free Report) last posted its quarterly earnings data on Wednesday, July 19th. The real estate investment trust reported $0.26 earnings per share for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.28). The company had revenue of $195.80 million for the quarter, compared to analyst estimates of $196.92 million. Rexford Industrial Realty had a return on equity of 2.82% and a net margin of 27.23%. The business’s revenue was up 31.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.49 earnings per share. As a group, sell-side analysts forecast that Rexford Industrial Realty, Inc. will post 2.19 EPS for the current fiscal year.

Rexford Industrial Realty Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, October 16th. Stockholders of record on Friday, September 29th will be given a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.87%. The ex-dividend date is Thursday, September 28th. Rexford Industrial Realty’s dividend payout ratio (DPR) is 153.54%.

Rexford Industrial Realty Company Profile

(Free Report)

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.