Lasalle Investment Management Securities LLC Takes Position in Rexford Industrial Realty, Inc. $REXR

Lasalle Investment Management Securities LLC bought a new stake in shares of Rexford Industrial Realty, Inc. (NYSE:REXR) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 980,672 shares of the real estate investment trust’s stock, valued at approximately $32,097,000. Rexford Industrial Realty makes up approximately 1.3% of Lasalle Investment Management Securities LLC’s investment portfolio, making the stock its 27th largest holding.

Other large investors have also added to or reduced their stakes in the company. Sumitomo Mitsui Trust Group Inc. lifted its position in shares of Rexford Industrial Realty by 24.3% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 323,592 shares of the real estate investment trust’s stock valued at $12,529,000 after acquiring an additional 63,313 shares during the period. Hsbc Holdings PLC grew its holdings in Rexford Industrial Realty by 17.7% in the fourth quarter. Hsbc Holdings PLC now owns 387,836 shares of the real estate investment trust’s stock worth $15,017,000 after purchasing an additional 58,270 shares during the period. Oak Thistle LLC acquired a new stake in Rexford Industrial Realty in the fourth quarter worth $2,347,000. William Blair Investment Management LLC increased its stake in Rexford Industrial Realty by 7.8% in the fourth quarter. William Blair Investment Management LLC now owns 935,111 shares of the real estate investment trust’s stock valued at $36,207,000 after purchasing an additional 67,276 shares in the last quarter. Finally, Principal Financial Group Inc. increased its stake in Rexford Industrial Realty by 19.5% in the fourth quarter. Principal Financial Group Inc. now owns 11,518,739 shares of the real estate investment trust’s stock valued at $446,006,000 after purchasing an additional 1,881,905 shares in the last quarter. Institutional investors and hedge funds own 99.52% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Weiss Ratings upgraded shares of Rexford Industrial Realty from a “hold (c-)” rating to a “hold (c)” rating in a report on Wednesday, July 15th. Truist Financial reduced their target price on Rexford Industrial Realty from $40.00 to $38.00 and set a “buy” rating for the company in a research note on Thursday, May 21st. Scotiabank raised Rexford Industrial Realty from a “sector perform” rating to a “sector outperform” rating and decreased their target price for the company from $38.00 to $36.00 in a research report on Thursday, June 18th. Wall Street Zen downgraded Rexford Industrial Realty from a “hold” rating to a “sell” rating in a research note on Monday. Finally, Evercore upgraded Rexford Industrial Realty from an “in-line” rating to an “outperform” rating and set a $40.00 price target on the stock in a report on Monday, April 13th. Five analysts have rated the stock with a Buy rating, six have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $40.38.

Rexford Industrial Realty Stock Down 1.0%

Rexford Industrial Realty stock opened at $36.75 on Thursday. Rexford Industrial Realty, Inc. has a 1-year low of $32.14 and a 1-year high of $44.38. The firm has a market capitalization of $8.30 billion, a price-to-earnings ratio of 39.52, a price-to-earnings-growth ratio of 1.55 and a beta of 1.21. The firm’s fifty day moving average price is $34.83 and its two-hundred day moving average price is $36.14. The company has a current ratio of 1.50, a quick ratio of 1.50 and a debt-to-equity ratio of 0.38.

Rexford Industrial Realty (NYSE:REXR) last posted its earnings results 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 $243.78 million. Rexford Industrial Realty had a net margin of 23.25% and a return on equity of 2.64%. The firm’s revenue for the quarter was down 2.9% on a year-over-year basis. During the same period in the previous year, the firm posted $0.62 earnings per share. On average, equities research analysts predict that Rexford Industrial Realty, Inc. will post 2.4 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, General Counsel David E. Lanzer sold 33,299 shares of the stock in a transaction on Tuesday, April 28th. The stock was sold at an average price of $35.47, for a total value of $1,181,115.53. Following the completion of the sale, the general counsel directly owned 33,299 shares of the company’s stock, valued at approximately $1,181,115.53. This represents a 50.00% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 1.80% of the company’s stock.

Rexford Industrial Realty Company Profile

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.