Rexford Industrial Realty, Inc. (NYSE:REXR) Shares Bought by New York State Common Retirement Fund

New York State Common Retirement Fund raised its stake in Rexford Industrial Realty, Inc. (NYSE:REXR) by 7.3% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 197,300 shares of the real estate investment trust’s stock after acquiring an additional 13,400 shares during the quarter. New York State Common Retirement Fund owned approximately 0.10% of Rexford Industrial Realty worth $11,769,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. CI Investments Inc. raised its holdings in shares of Rexford Industrial Realty by 117.4% in the fourth quarter. CI Investments Inc. now owns 500 shares of the real estate investment trust’s stock worth $27,000 after acquiring an additional 270 shares during the last quarter. Belpointe Asset Management LLC acquired a new position in shares of Rexford Industrial Realty in the fourth quarter worth $30,000. CWM LLC increased its stake in Rexford Industrial Realty by 27.7% in the first quarter. CWM LLC now owns 895 shares of the real estate investment trust’s stock valued at $53,000 after purchasing an additional 194 shares during the last quarter. Ellevest Inc. increased its stake in Rexford Industrial Realty by 35.9% in the first quarter. Ellevest Inc. now owns 1,583 shares of the real estate investment trust’s stock valued at $94,000 after purchasing an additional 418 shares during the last quarter. Finally, Assetmark Inc. increased its stake in Rexford Industrial Realty by 18.9% in the fourth quarter. Assetmark Inc. now owns 1,749 shares of the real estate investment trust’s stock valued at $96,000 after purchasing an additional 278 shares during the last quarter. 99.52% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts recently commented on REXR shares. BMO Capital Markets lowered Rexford Industrial Realty from an “outperform” rating to a “market perform” rating and dropped their target price for the company from $69.00 to $56.00 in a research note on Monday, June 12th. Mizuho initiated coverage on Rexford Industrial Realty in a research note on Wednesday, June 28th. They issued a “neutral” rating and a $52.00 target price for the company. Citigroup downgraded Rexford Industrial Realty from a “buy” rating to a “neutral” rating and lowered their price target for the company from $66.00 to $53.00 in a research report on Monday, June 12th. StockNews.com initiated coverage on Rexford Industrial Realty in a research report on Thursday, August 17th. They set a “sell” rating for the company. Finally, Scotiabank initiated coverage on Rexford Industrial Realty in a research report on Tuesday. They set a “sector perform” rating and a $59.00 price target for the company. One investment analyst has rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $60.43.

Insiders Place Their Bets

In related news, CFO Laura E. Clark sold 7,410 shares of the firm’s stock in a transaction that occurred on Friday, July 28th. The stock was sold at an average price of $54.48, for a total value of $403,696.80. Following the sale, the chief financial officer now owns 2,562 shares of the company’s stock, valued at approximately $139,577.76. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 1.10% of the stock is currently owned by company insiders.

Rexford Industrial Realty Price Performance

Shares of NYSE REXR opened at $52.05 on Thursday. Rexford Industrial Realty, Inc. has a 1-year low of $48.74 and a 1-year high of $66.71. The business has a 50-day moving average of $53.36 and a 200-day moving average of $54.79. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.37 and a quick ratio of 1.37. The company has a market capitalization of $10.75 billion, a price-to-earnings ratio of 52.58, a PEG ratio of 2.15 and a beta of 0.83.

Rexford Industrial Realty (NYSE:REXR) last issued its earnings results on Wednesday, July 19th. The real estate investment trust reported $0.26 earnings per share for the quarter, missing the consensus estimate of $0.54 by ($0.28). Rexford Industrial Realty had a return on equity of 2.82% and a net margin of 27.23%. The company had revenue of $195.80 million during the quarter, compared to analysts’ expectations of $196.92 million. During the same period in the previous year, the company earned $0.49 EPS. Rexford Industrial Realty’s quarterly revenue was up 31.3% on a year-over-year basis. On average, equities analysts anticipate that Rexford Industrial Realty, Inc. will post 2.19 EPS for the current fiscal year.

Rexford Industrial Realty Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, October 16th. Shareholders of record on Friday, September 29th will be issued a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 2.92%. The ex-dividend date is Thursday, September 28th. Rexford Industrial Realty’s dividend payout ratio is presently 153.54%.

Rexford Industrial Realty Company Profile

Rexford Industrial creates value by investing in, operating and redeveloping industrial properties throughout infill Southern California, the world's fourth largest industrial market and consistently the highest-demand with lowest-supply major market in the nation. The Company's highly differentiated strategy enables internal and external growth opportunities through its proprietary value creation and asset management capabilities.