Wolverine Asset Management LLC Purchases 18,042 Shares of Rexford Industrial Realty, Inc. $REXR

Wolverine Asset Management LLC grew its position in shares of Rexford Industrial Realty, Inc. (NYSE:REXR) by 291.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 24,233 shares of the real estate investment trust’s stock after acquiring an additional 18,042 shares during the period. Wolverine Asset Management LLC’s holdings in Rexford Industrial Realty were worth $862,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the stock. Mutual of America Capital Management LLC raised its stake in Rexford Industrial Realty by 0.3% in the second quarter. Mutual of America Capital Management LLC now owns 117,425 shares of the real estate investment trust’s stock worth $4,177,000 after buying an additional 311 shares in the last quarter. M&T Bank Corp raised its stake in Rexford Industrial Realty by 1.2% in the first quarter. M&T Bank Corp now owns 26,857 shares of the real estate investment trust’s stock worth $1,052,000 after buying an additional 317 shares in the last quarter. Caitlin John LLC raised its stake in Rexford Industrial Realty by 6.4% in the second quarter. Caitlin John LLC now owns 6,027 shares of the real estate investment trust’s stock worth $214,000 after buying an additional 361 shares in the last quarter. Private Trust Co. NA raised its stake in Rexford Industrial Realty by 95.6% in the first quarter. Private Trust Co. NA now owns 757 shares of the real estate investment trust’s stock worth $30,000 after buying an additional 370 shares in the last quarter. Finally, Federated Hermes Inc. raised its stake in Rexford Industrial Realty by 2.2% in the first quarter. Federated Hermes Inc. now owns 18,297 shares of the real estate investment trust’s stock worth $716,000 after buying an additional 388 shares in the last quarter. 99.52% of the stock is owned by institutional investors.

Rexford Industrial Realty Price Performance

Shares of NYSE REXR opened at $41.30 on Friday. Rexford Industrial Realty, Inc. has a fifty-two week low of $29.68 and a fifty-two week high of $44.38. The company has a 50 day simple moving average of $41.96 and a two-hundred day simple moving average of $38.04. The company has a market capitalization of $9.62 billion, a price-to-earnings ratio of 29.09, a P/E/G ratio of 3.05 and a beta of 1.13. The company has a debt-to-equity ratio of 0.37, a quick ratio of 2.95 and a current ratio of 2.95.

Rexford Industrial Realty (NYSE:REXR) last announced its earnings results on Wednesday, October 15th. The real estate investment trust reported $0.60 earnings per share for the quarter, beating analysts’ consensus estimates of $0.59 by $0.01. Rexford Industrial Realty had a net margin of 33.88% and a return on equity of 3.81%. The business had revenue of $246.76 million during the quarter, compared to the consensus estimate of $253.46 million. During the same quarter last year, the firm earned $0.59 earnings per share. The business’s revenue for the quarter was up 4.7% on a year-over-year basis. Rexford Industrial Realty has set its FY 2025 guidance at 2.390-2.410 EPS. Analysts expect that Rexford Industrial Realty, Inc. will post 2.38 EPS for the current fiscal year.

Rexford Industrial Realty Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 15th. Stockholders of record on Wednesday, December 31st will be issued a dividend of $0.43 per share. The ex-dividend date is Wednesday, December 31st. This represents a $1.72 dividend on an annualized basis and a dividend yield of 4.2%. Rexford Industrial Realty’s dividend payout ratio is presently 121.13%.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on REXR. Weiss Ratings reissued a “hold (c)” rating on shares of Rexford Industrial Realty in a research note on Wednesday, October 8th. Scotiabank increased their price target on shares of Rexford Industrial Realty from $40.00 to $43.00 and gave the stock a “sector perform” rating in a research note on Thursday, September 4th. Wells Fargo & Company increased their price target on shares of Rexford Industrial Realty from $40.00 to $47.00 and gave the stock an “overweight” rating in a research note on Monday, October 27th. Truist Financial raised their target price on shares of Rexford Industrial Realty from $42.00 to $44.00 and gave the company a “buy” rating in a research note on Wednesday, October 15th. Finally, Wolfe Research downgraded shares of Rexford Industrial Realty from an “outperform” rating to a “peer perform” rating in a research note on Monday, October 20th. Three investment analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Rexford Industrial Realty currently has an average rating of “Hold” and an average price target of $42.50.

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.