KLP Kapitalforvaltning AS Boosts Stock Position in Rexford Industrial Realty, Inc. $REXR

KLP Kapitalforvaltning AS lifted its holdings in shares of Rexford Industrial Realty, Inc. (NYSE:REXR) by 10.0% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 49,400 shares of the real estate investment trust’s stock after buying an additional 4,500 shares during the period. KLP Kapitalforvaltning AS’s holdings in Rexford Industrial Realty were worth $1,775,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the business. Vanguard Group Inc. raised its stake in shares of Rexford Industrial Realty by 2.6% during the 1st quarter. Vanguard Group Inc. now owns 30,711,076 shares of the real estate investment trust’s stock worth $1,202,339,000 after buying an additional 779,095 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of Rexford Industrial Realty by 1.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 27,443,472 shares of the real estate investment trust’s stock worth $1,074,413,000 after buying an additional 445,743 shares in the last quarter. Massachusetts Financial Services Co. MA raised its stake in shares of Rexford Industrial Realty by 130.2% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 7,751,922 shares of the real estate investment trust’s stock worth $303,488,000 after buying an additional 4,384,624 shares in the last quarter. Centersquare Investment Management LLC raised its stake in shares of Rexford Industrial Realty by 7.0% during the 1st quarter. Centersquare Investment Management LLC now owns 4,808,035 shares of the real estate investment trust’s stock worth $188,235,000 after buying an additional 315,869 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its stake in shares of Rexford Industrial Realty by 18.3% during the 1st quarter. JPMorgan Chase & Co. now owns 3,856,451 shares of the real estate investment trust’s stock worth $150,980,000 after buying an additional 595,759 shares in the last quarter. 99.52% of the stock is owned by hedge funds and other institutional investors.

Rexford Industrial Realty Price Performance

Shares of NYSE:REXR opened at $39.37 on Monday. The company has a market cap of $9.32 billion, a P/E ratio of 29.16, a P/E/G ratio of 4.37 and a beta of 1.13. The company has a quick ratio of 5.59, a current ratio of 5.59 and a debt-to-equity ratio of 0.37. Rexford Industrial Realty, Inc. has a 52 week low of $29.68 and a 52 week high of $49.60. The business has a fifty day simple moving average of $40.59 and a 200-day simple moving average of $37.25.

Rexford Industrial Realty (NYSE:REXR) last posted its quarterly earnings results on Wednesday, July 16th. The real estate investment trust reported $0.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.58 by $0.01. Rexford Industrial Realty had a return on equity of 3.62% and a net margin of 32.04%.The firm had revenue of $241.57 million during the quarter, compared to the consensus estimate of $251.72 million. During the same quarter in the previous year, the business earned $0.60 earnings per share. The firm’s quarterly revenue was up 5.0% compared to the same quarter last year. Rexford Industrial Realty has set its FY 2025 guidance at 2.370-2.410 EPS. Equities research analysts forecast that Rexford Industrial Realty, Inc. will post 2.38 EPS for the current year.

Wall Street Analysts Forecast Growth

REXR has been the subject of several research reports. Truist Financial lifted their price objective on Rexford Industrial Realty from $37.00 to $42.00 and gave the stock a “buy” rating in a report on Wednesday, August 20th. Mizuho lifted their price objective on Rexford Industrial Realty from $37.00 to $40.00 and gave the stock a “neutral” rating in a report on Monday, September 8th. Barclays lifted their price objective on Rexford Industrial Realty from $35.00 to $39.00 and gave the stock an “underweight” rating in a report on Monday, September 15th. Scotiabank lifted their price objective on Rexford Industrial Realty from $40.00 to $43.00 and gave the stock a “sector perform” rating in a report on Thursday, September 4th. Finally, Industrial Alliance Securities set a $40.00 price objective on Rexford Industrial Realty in a report on Monday, September 15th. Three research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $41.83.

Insider Buying and Selling

In related news, General Counsel David E. Lanzer sold 26,449 shares of the stock in a transaction dated Monday, July 21st. The stock was sold at an average price of $36.87, for a total value of $975,174.63. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.20% of the company’s stock.

Rexford Industrial Realty Company Profile

Rexford Industrial Realty, Inc is a self-administered and self-managed real estate investment trust, which engages in owning and operating industrial properties in infill markets. The company was founded by Richard S. Ziman on January 18, 2013 and is headquartered in Los Angeles, CA.