California State Teachers Retirement System Trims Stake in Rexford Industrial Realty, Inc. (NYSE:REXR)

California State Teachers Retirement System reduced its stake in shares of Rexford Industrial Realty, Inc. (NYSE:REXRFree Report) by 2.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 218,614 shares of the real estate investment trust’s stock after selling 4,916 shares during the quarter. California State Teachers Retirement System owned 0.10% of Rexford Industrial Realty worth $12,264,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of REXR. Victory Capital Management Inc. raised its position in Rexford Industrial Realty by 11.5% during the third quarter. Victory Capital Management Inc. now owns 38,318 shares of the real estate investment trust’s stock valued at $1,891,000 after acquiring an additional 3,966 shares in the last quarter. Swiss National Bank raised its position in Rexford Industrial Realty by 1.1% during the third quarter. Swiss National Bank now owns 441,816 shares of the real estate investment trust’s stock valued at $21,804,000 after acquiring an additional 4,600 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Rexford Industrial Realty by 4.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,368,955 shares of the real estate investment trust’s stock valued at $116,908,000 after purchasing an additional 93,050 shares during the period. Shell Asset Management Co. grew its holdings in Rexford Industrial Realty by 20.0% in the third quarter. Shell Asset Management Co. now owns 4,540 shares of the real estate investment trust’s stock valued at $224,000 after purchasing an additional 758 shares during the period. Finally, Van ECK Associates Corp grew its holdings in Rexford Industrial Realty by 6.1% in the third quarter. Van ECK Associates Corp now owns 68,309 shares of the real estate investment trust’s stock valued at $3,371,000 after purchasing an additional 3,907 shares during the period. 99.52% of the stock is currently owned by hedge funds and other institutional investors.

Rexford Industrial Realty Stock Performance

NYSE REXR opened at $44.12 on Friday. The stock’s fifty day moving average is $45.13 and its two-hundred day moving average is $50.22. The firm has a market capitalization of $9.61 billion, a P/E ratio of 40.48, a price-to-earnings-growth ratio of 1.80 and a beta of 0.93. The company has a debt-to-equity ratio of 0.41, a quick ratio of 3.21 and a current ratio of 3.21. Rexford Industrial Realty, Inc. has a fifty-two week low of $41.56 and a fifty-two week high of $58.02.

Rexford Industrial Realty (NYSE:REXRGet Free Report) last released its quarterly earnings data on Thursday, April 18th. The real estate investment trust reported $0.27 earnings per share for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.30). The company had revenue of $214.10 million for the quarter, compared to analyst estimates of $207.39 million. Rexford Industrial Realty had a return on equity of 3.04% and a net margin of 28.84%. The business’s quarterly revenue was up 15.0% on a year-over-year basis. During the same period last year, the firm posted $0.52 EPS. On average, research analysts anticipate that Rexford Industrial Realty, Inc. will post 2.34 earnings per share for the current year.

Rexford Industrial Realty Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Friday, June 28th will be paid a dividend of $0.417 per share. This represents a $1.67 dividend on an annualized basis and a yield of 3.78%. The ex-dividend date of this dividend is Friday, June 28th. Rexford Industrial Realty’s dividend payout ratio (DPR) is currently 153.21%.

Analysts Set New Price Targets

Several brokerages have commented on REXR. Wedbush began coverage on Rexford Industrial Realty in a report on Monday, April 22nd. They issued a “neutral” rating and a $45.00 price objective on the stock. Barclays raised their price objective on Rexford Industrial Realty from $45.00 to $46.00 and gave the company an “underweight” rating in a report on Tuesday, April 23rd. Scotiabank dropped their price objective on Rexford Industrial Realty from $55.00 to $51.00 and set a “sector outperform” rating on the stock in a report on Thursday, May 16th. Truist Financial dropped their price objective on Rexford Industrial Realty from $53.00 to $50.00 and set a “buy” rating on the stock in a report on Thursday, May 2nd. Finally, Robert W. Baird dropped their price objective on Rexford Industrial Realty from $57.00 to $49.00 and set a “neutral” rating on the stock in a report on Wednesday, May 1st. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $52.82.

Check Out Our Latest Report on Rexford Industrial Realty

Rexford Industrial Realty Profile

(Free Report)

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.

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

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