Rexford Industrial Realty, Inc. (NYSE:REXR) Shares Bought by California Public Employees Retirement System

California Public Employees Retirement System raised its position in Rexford Industrial Realty, Inc. (NYSE:REXR) by 1.1% in the 4th quarter, Holdings Channel reports. The fund owned 366,933 shares of the real estate investment trust’s stock after purchasing an additional 4,091 shares during the period. California Public Employees Retirement System’s holdings in Rexford Industrial Realty were worth $20,585,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Envestnet Asset Management Inc. grew its position in shares of Rexford Industrial Realty by 139.5% during the third quarter. Envestnet Asset Management Inc. now owns 232,848 shares of the real estate investment trust’s stock worth $11,491,000 after buying an additional 135,627 shares in the last quarter. Pacer Advisors Inc. grew its position in shares of Rexford Industrial Realty by 12.8% during the fourth quarter. Pacer Advisors Inc. now owns 207,609 shares of the real estate investment trust’s stock worth $11,647,000 after buying an additional 23,510 shares in the last quarter. Louisiana State Employees Retirement System acquired a new stake in shares of Rexford Industrial Realty during the fourth quarter worth approximately $3,327,000. Daiwa Securities Group Inc. grew its position in shares of Rexford Industrial Realty by 1.5% during the fourth quarter. Daiwa Securities Group Inc. now owns 79,851 shares of the real estate investment trust’s stock worth $4,480,000 after buying an additional 1,171 shares in the last quarter. Finally, The Manufacturers Life Insurance Company grew its position in shares of Rexford Industrial Realty by 6.8% during the third quarter. The Manufacturers Life Insurance Company now owns 314,170 shares of the real estate investment trust’s stock worth $15,506,000 after buying an additional 19,981 shares in the last quarter. Institutional investors and hedge funds own 99.52% of the company’s stock.

Insider Activity

In related news, General Counsel David E. Lanzer sold 18,113 shares of the firm’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $52.69, for a total transaction of $954,373.97. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 1.10% of the company’s stock.

Rexford Industrial Realty Stock Up 0.5 %

REXR opened at $43.20 on Monday. Rexford Industrial Realty, Inc. has a 12 month low of $41.56 and a 12 month high of $58.02. The company has a debt-to-equity ratio of 0.41, a current ratio of 3.21 and a quick ratio of 3.21. The stock has a market cap of $9.41 billion, a P/E ratio of 39.63, a P/E/G ratio of 1.90 and a beta of 0.86. The stock’s 50 day moving average price is $49.30 and its 200 day moving average price is $50.44.

Rexford Industrial Realty (NYSE:REXR) last posted its earnings results on Thursday, April 18th. The real estate investment trust reported $0.27 EPS for the quarter, missing the consensus estimate of $0.57 by ($0.30). Rexford Industrial Realty had a net margin of 28.84% and a return on equity of 3.04%. The business had revenue of $214.10 million during the quarter, compared to analyst estimates of $207.39 million. During the same quarter in the prior year, the business earned $0.52 earnings per share. The firm’s revenue was up 15.0% compared to the same quarter last year. As a group, research analysts predict that Rexford Industrial Realty, Inc. will post 2.33 earnings per share for the current year.

Rexford Industrial Realty Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Friday, June 28th will be paid a $0.417 dividend. This represents a $1.67 dividend on an annualized basis and a dividend yield of 3.86%. The ex-dividend date of this dividend is Friday, June 28th. Rexford Industrial Realty’s dividend payout ratio is currently 153.21%.

Wall Street Analyst Weigh In

REXR has been the subject of a number of recent analyst reports. Barclays raised their price target on shares of Rexford Industrial Realty from $45.00 to $46.00 and gave the stock an “underweight” rating in a research report on Tuesday, April 23rd. Truist Financial decreased their price target on shares of Rexford Industrial Realty from $57.00 to $53.00 and set a “buy” rating for the company in a report on Tuesday, April 16th. JPMorgan Chase & Co. downgraded shares of Rexford Industrial Realty from an “overweight” rating to a “neutral” rating and set a $55.00 price objective for the company. in a research report on Wednesday, February 7th. Mizuho reissued a “neutral” rating and issued a $52.00 target price on shares of Rexford Industrial Realty in a report on Tuesday, April 2nd. Finally, Robert W. Baird reaffirmed a “neutral” rating and set a $61.00 target price (up from $53.00) on shares of Rexford Industrial Realty in a report on Friday, January 5th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $54.73.

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.