Davis Selected Advisers Sells 50,320 Shares of Rexford Industrial Realty, Inc. $REXR

Davis Selected Advisers reduced its stake in shares of Rexford Industrial Realty, Inc. (NYSE:REXR) by 12.7% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 344,830 shares of the real estate investment trust’s stock after selling 50,320 shares during the period. Davis Selected Advisers’ holdings in Rexford Industrial Realty were worth $13,352,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. State Street Corp grew its position in shares of Rexford Industrial Realty by 4.9% during the 2nd quarter. State Street Corp now owns 11,906,613 shares of the real estate investment trust’s stock valued at $428,509,000 after acquiring an additional 556,810 shares during the period. Soroban Capital Partners LP grew its position in shares of Rexford Industrial Realty by 57.2% during the 2nd quarter. Soroban Capital Partners LP now owns 9,191,038 shares of the real estate investment trust’s stock valued at $326,925,000 after acquiring an additional 3,344,677 shares during the period. JPMorgan Chase & Co. grew its position in shares of Rexford Industrial Realty by 4.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 3,887,918 shares of the real estate investment trust’s stock valued at $159,836,000 after acquiring an additional 161,589 shares during the period. Northern Trust Corp grew its position in shares of Rexford Industrial Realty by 0.6% during the 3rd quarter. Northern Trust Corp now owns 3,518,818 shares of the real estate investment trust’s stock valued at $144,659,000 after acquiring an additional 20,096 shares during the period. Finally, Bank of America Corp DE grew its position in shares of Rexford Industrial Realty by 58.7% during the 3rd quarter. Bank of America Corp DE now owns 2,615,234 shares of the real estate investment trust’s stock valued at $107,512,000 after acquiring an additional 967,407 shares during the period. 99.52% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Rexford Industrial Realty news, CFO Michael Fitzmaurice acquired 2,650 shares of the business’s stock in a transaction that occurred on Friday, February 27th. The stock was bought at an average cost of $37.55 per share, with a total value of $99,507.50. Following the acquisition, the chief financial officer owned 14,133 shares in the company, valued at approximately $530,694.15. This represents a 23.08% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director David P. Stockert bought 5,000 shares of the stock in a transaction on Friday, February 27th. The stock was purchased at an average price of $37.39 per share, for a total transaction of $186,950.00. Following the completion of the purchase, the director directly owned 6,829 shares in the company, valued at approximately $255,336.31. This represents a 273.37% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders purchased 12,960 shares of company stock worth $486,804 in the last 90 days. 1.80% of the stock is currently owned by company insiders.

Rexford Industrial Realty Stock Down 1.1%

REXR opened at $35.49 on Friday. The company has a 50 day moving average of $35.25 and a 200 day moving average of $38.67. The company has a market cap of $8.01 billion, a PE ratio of 38.16, a price-to-earnings-growth ratio of 1.50 and a beta of 1.23. Rexford Industrial Realty, Inc. has a 12 month low of $32.14 and a 12 month high of $44.38. The company has a current ratio of 1.50, a quick ratio of 2.51 and a debt-to-equity ratio of 0.38.

Rexford Industrial Realty (NYSE:REXR) last released its quarterly earnings data on Thursday, April 23rd. The real estate investment trust reported $0.38 EPS for the quarter, topping the consensus estimate of $0.27 by $0.11. The company had revenue of $242.14 million during the quarter, compared to the consensus estimate of $243.79 million. Rexford Industrial Realty had a net margin of 23.25% and a return on equity of 2.64%. Rexford Industrial Realty’s revenue for the quarter was down 2.9% on a year-over-year basis. During the same period last year, the firm earned $0.62 EPS. Rexford Industrial Realty has set its FY 2026 guidance at 2.370-2.42 EPS. On average, sell-side analysts expect that Rexford Industrial Realty, Inc. will post 2.39 EPS for the current year.

Rexford Industrial Realty Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th will be issued a $0.435 dividend. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $1.74 annualized dividend and a yield of 4.9%. Rexford Industrial Realty’s dividend payout ratio (DPR) is 187.10%.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on REXR. Barclays reissued an “underweight” rating on shares of Rexford Industrial Realty in a research report on Tuesday, January 13th. Evercore raised shares of Rexford Industrial Realty from an “in-line” rating to an “outperform” rating and set a $40.00 target price for the company in a research report on Monday, April 13th. Citigroup cut their price objective on shares of Rexford Industrial Realty from $46.00 to $39.00 and set a “neutral” rating for the company in a report on Friday, February 13th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Rexford Industrial Realty in a report on Thursday, January 22nd. Finally, Truist Financial cut their price objective on shares of Rexford Industrial Realty from $44.00 to $40.00 and set a “buy” rating for the company in a report on Wednesday, February 18th. Four analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $41.92.

About Rexford Industrial Realty

Rexford Industrial Realty, Inc (NYSE: REXR) is a real estate investment trust (REIT) specializing in the acquisition, ownership and operation of industrial properties in Southern California. The company’s portfolio is concentrated in infill locations across key supply-chain markets, where it targets modern distribution centers, logistics facilities and light manufacturing spaces. Rexford’s strategy emphasizes buildings that offer proximity to major transportation routes and labor pools, catering to tenants in e-commerce, third-party logistics and manufacturing industries.

Since its founding in 2013, Rexford Industrial Realty has executed a disciplined growth plan driven by property acquisitions, selective development projects and strategic value-add initiatives.