Rexford Industrial Realty, Inc. (NYSE:REXR) Shares Sold by State of Alaska Department of Revenue

State of Alaska Department of Revenue lowered its stake in shares of Rexford Industrial Realty, Inc. (NYSE:REXRGet Rating) by 1.7% in the second quarter, according to its most recent 13F filing with the SEC. The fund owned 104,606 shares of the real estate investment trust’s stock after selling 1,845 shares during the period. State of Alaska Department of Revenue’s holdings in Rexford Industrial Realty were worth $6,023,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of REXR. Vanguard Group Inc. raised its position in Rexford Industrial Realty by 7.5% during the first quarter. Vanguard Group Inc. now owns 22,698,814 shares of the real estate investment trust’s stock valued at $1,693,104,000 after acquiring an additional 1,587,612 shares in the last quarter. BlackRock Inc. grew its stake in shares of Rexford Industrial Realty by 2.8% during the 1st quarter. BlackRock Inc. now owns 20,363,229 shares of the real estate investment trust’s stock worth $1,518,893,000 after purchasing an additional 552,381 shares during the period. Principal Financial Group Inc. increased its holdings in shares of Rexford Industrial Realty by 1.8% during the 1st quarter. Principal Financial Group Inc. now owns 9,557,989 shares of the real estate investment trust’s stock valued at $712,930,000 after purchasing an additional 166,571 shares in the last quarter. DigitalBridge Group Inc. lifted its stake in shares of Rexford Industrial Realty by 2,797.2% in the 1st quarter. DigitalBridge Group Inc. now owns 9,155,276 shares of the real estate investment trust’s stock valued at $32,436,000 after purchasing an additional 8,839,276 shares during the period. Finally, State Street Corp boosted its holdings in Rexford Industrial Realty by 19.0% during the first quarter. State Street Corp now owns 8,626,789 shares of the real estate investment trust’s stock worth $646,126,000 after buying an additional 1,375,680 shares in the last quarter. Institutional investors and hedge funds own 99.50% of the company’s stock.

Insider Buying and Selling at Rexford Industrial Realty

In other news, CEO Howard Schwimmer sold 16,402 shares of the business’s stock in a transaction that occurred on Monday, July 25th. The stock was sold at an average price of $62.15, for a total transaction of $1,019,384.30. Following the transaction, the chief executive officer now directly owns 68,070 shares in the company, valued at approximately $4,230,550.50. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. 1.20% of the stock is owned by insiders.

Rexford Industrial Realty Price Performance

NYSE:REXR opened at $58.22 on Tuesday. The stock has a 50 day moving average of $63.53 and a two-hundred day moving average of $66.77. Rexford Industrial Realty, Inc. has a 12 month low of $55.84 and a 12 month high of $84.68. The firm has a market cap of $9.96 billion, a P/E ratio of 61.28, a price-to-earnings-growth ratio of 2.68 and a beta of 0.77. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 0.29.

Rexford Industrial Realty (NYSE:REXRGet Rating) last issued its quarterly earnings results on Wednesday, July 20th. The real estate investment trust reported $0.22 EPS for the quarter, missing the consensus estimate of $0.24 by ($0.02). The firm had revenue of $149.12 million for the quarter, compared to analysts’ expectations of $149.21 million. Rexford Industrial Realty had a return on equity of 3.17% and a net margin of 29.79%. The firm’s revenue for the quarter was up 42.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.39 earnings per share. On average, analysts expect that Rexford Industrial Realty, Inc. will post 1.93 earnings per share for the current fiscal year.

Rexford Industrial Realty Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, October 15th. Investors of record on Friday, September 30th will be paid a dividend of $0.315 per share. The ex-dividend date of this dividend is Thursday, September 29th. This represents a $1.26 annualized dividend and a yield of 2.16%. Rexford Industrial Realty’s dividend payout ratio is presently 132.63%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on REXR shares. Wells Fargo & Company lifted their price objective on shares of Rexford Industrial Realty from $74.00 to $80.00 and gave the company an “overweight” rating in a report on Thursday, August 11th. Robert W. Baird upped their price target on Rexford Industrial Realty from $87.00 to $89.00 in a report on Friday, July 22nd. StockNews.com lowered Rexford Industrial Realty from a “hold” rating to a “sell” rating in a report on Thursday, July 21st. Wolfe Research started coverage on Rexford Industrial Realty in a research report on Tuesday, June 21st. They set a “market perform” rating and a $63.00 target price on the stock. Finally, Jefferies Financial Group dropped their price target on shares of Rexford Industrial Realty from $89.00 to $73.00 in a research note on Thursday, June 30th. One analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $77.80.

Rexford Industrial Realty Company Profile

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Rexford Industrial, a real estate investment trust focused on owning and operating industrial properties throughout Southern California infill markets, owns 232 properties with approximately 27.9 million rentable square feet and manages an additional 20 properties with approximately 1.0 million rentable square feet.

See Also

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Institutional Ownership by Quarter for Rexford Industrial Realty (NYSE:REXR)

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