New York State Common Retirement Fund Sells 39,716 Shares of Rexford Industrial Realty, Inc. (NYSE:REXR)

New York State Common Retirement Fund reduced its position in Rexford Industrial Realty, Inc. (NYSE:REXRFree Report) by 18.4% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 176,648 shares of the real estate investment trust’s stock after selling 39,716 shares during the quarter. New York State Common Retirement Fund owned about 0.07% of Rexford Industrial Realty worth $6,916,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Proficio Capital Partners LLC purchased a new stake in Rexford Industrial Realty in the fourth quarter valued at approximately $417,000. Xponance Inc. raised its stake in Rexford Industrial Realty by 9.4% in the fourth quarter. Xponance Inc. now owns 25,707 shares of the real estate investment trust’s stock valued at $994,000 after purchasing an additional 2,203 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its stake in Rexford Industrial Realty by 40.3% in the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 120,640 shares of the real estate investment trust’s stock valued at $4,664,000 after purchasing an additional 34,635 shares in the last quarter. HUB Investment Partners LLC purchased a new stake in Rexford Industrial Realty in the fourth quarter valued at approximately $226,000. Finally, Whittier Trust Co. of Nevada Inc. raised its stake in Rexford Industrial Realty by 515.7% in the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 1,490 shares of the real estate investment trust’s stock valued at $58,000 after purchasing an additional 1,248 shares in the last quarter. 99.52% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on REXR. Truist Financial lowered their target price on shares of Rexford Industrial Realty from $44.00 to $37.00 and set a “buy” rating on the stock in a research note on Thursday, May 1st. Scotiabank decreased their price target on shares of Rexford Industrial Realty from $39.00 to $37.00 and set a “sector perform” rating on the stock in a research note on Monday, May 12th. Robert W. Baird set a $43.00 price target on shares of Rexford Industrial Realty in a research note on Tuesday, May 6th. JPMorgan Chase & Co. decreased their target price on shares of Rexford Industrial Realty from $44.00 to $37.00 and set a “neutral” rating on the stock in a research note on Thursday, April 24th. Finally, Industrial Alliance Securities set a $38.00 target price on shares of Rexford Industrial Realty in a research note on Tuesday, March 25th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $39.82.

Get Our Latest Research Report on Rexford Industrial Realty

Rexford Industrial Realty Trading Up 3.2%

REXR stock opened at $36.56 on Monday. Rexford Industrial Realty, Inc. has a 1-year low of $29.68 and a 1-year high of $52.61. The company has a debt-to-equity ratio of 0.37, a current ratio of 5.59 and a quick ratio of 4.90. The company has a market capitalization of $8.65 billion, a price-to-earnings ratio of 27.08, a PEG ratio of 3.35 and a beta of 1.13. The business has a 50 day simple moving average of $36.10 and a two-hundred day simple moving average of $37.26.

Rexford Industrial Realty (NYSE:REXRGet Free Report) last announced its quarterly earnings data on Wednesday, July 16th. The real estate investment trust reported $0.59 earnings per share for the quarter, beating analysts’ consensus estimates of $0.58 by $0.01. Rexford Industrial Realty had a net margin of 32.04% and a return on equity of 3.62%. The company had revenue of $241.57 million during the quarter, compared to analyst estimates of $251.72 million. During the same quarter last year, the business posted $0.60 EPS. The firm’s revenue for the quarter was up 5.0% on a year-over-year basis. Research analysts anticipate that Rexford Industrial Realty, Inc. will post 2.38 EPS for the current fiscal year.

Rexford Industrial Realty Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th will be issued a $0.43 dividend. The ex-dividend date is Tuesday, September 30th. This represents a $1.72 annualized dividend and a dividend yield of 4.70%. Rexford Industrial Realty’s dividend payout ratio is currently 127.41%.

Rexford Industrial Realty Company Profile

(Free Report)

Rexford Industrial Realty, Inc is a self-administered and self-managed real estate investment trust, which engages in owning and operating industrial properties in infill markets. The company was founded by Richard S. Ziman on January 18, 2013 and is headquartered in Los Angeles, CA.

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

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