Maryland State Retirement & Pension System Acquires 1,229 Shares of Rexford Industrial Realty, Inc. $REXR

Maryland State Retirement & Pension System increased its position in shares of Rexford Industrial Realty, Inc. (NYSE:REXR) by 11.9% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 11,518 shares of the real estate investment trust’s stock after buying an additional 1,229 shares during the period. Maryland State Retirement & Pension System’s holdings in Rexford Industrial Realty were worth $410,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in REXR. Northwestern Mutual Wealth Management Co. increased its stake in shares of Rexford Industrial Realty by 403.6% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 690 shares of the real estate investment trust’s stock valued at $27,000 after buying an additional 553 shares during the period. Bessemer Group Inc. grew its stake in Rexford Industrial Realty by 118.4% in the first quarter. Bessemer Group Inc. now owns 747 shares of the real estate investment trust’s stock valued at $29,000 after purchasing an additional 405 shares during the last quarter. Private Trust Co. NA grew its stake in Rexford Industrial Realty by 95.6% in the first quarter. Private Trust Co. NA now owns 757 shares of the real estate investment trust’s stock valued at $30,000 after purchasing an additional 370 shares during the last quarter. Caitong International Asset Management Co. Ltd grew its stake in Rexford Industrial Realty by 280.7% in the first quarter. Caitong International Asset Management Co. Ltd now owns 1,085 shares of the real estate investment trust’s stock valued at $42,000 after purchasing an additional 800 shares during the last quarter. Finally, GAMMA Investing LLC grew its stake in Rexford Industrial Realty by 211.2% in the first quarter. GAMMA Investing LLC now owns 1,441 shares of the real estate investment trust’s stock valued at $56,000 after purchasing an additional 978 shares during the last quarter. Hedge funds and other institutional investors own 99.52% of the company’s stock.

Insiders Place Their Bets

In other news, General Counsel David E. Lanzer sold 26,449 shares of the company’s stock in a transaction that occurred on Monday, July 21st. The shares were sold at an average price of $36.87, for a total value of $975,174.63. The sale was disclosed in a document filed with the SEC, which is available through this link. 1.20% of the stock is owned by insiders.

Analyst Ratings Changes

Several research firms have issued reports on REXR. Industrial Alliance Securities set a $40.00 target price on Rexford Industrial Realty in a research note on Monday, September 15th. Truist Financial lifted their target price on Rexford Industrial Realty from $37.00 to $42.00 and gave the company a “buy” rating in a research note on Wednesday, August 20th. Cantor Fitzgerald began coverage on Rexford Industrial Realty in a research note on Wednesday, October 1st. They issued an “overweight” rating and a $50.00 target price on the stock. Mizuho lifted their target price on Rexford Industrial Realty from $37.00 to $40.00 and gave the company a “neutral” rating in a research note on Monday, September 8th. Finally, Wall Street Zen upgraded Rexford Industrial Realty from a “sell” rating to a “hold” rating in a research note on Saturday, September 20th. Three investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $41.83.

Rexford Industrial Realty Trading Up 2.9%

Shares of NYSE:REXR opened at $40.51 on Tuesday. Rexford Industrial Realty, Inc. has a 12-month low of $29.68 and a 12-month high of $49.60. The company has a market capitalization of $9.59 billion, a PE ratio of 30.01, a PEG ratio of 4.37 and a beta of 1.13. The business has a 50 day moving average of $40.68 and a two-hundred day moving average of $37.26. The company has a current ratio of 5.59, a quick ratio of 5.59 and a debt-to-equity ratio of 0.37.

Rexford Industrial Realty (NYSE:REXR) last announced its quarterly earnings results on Wednesday, July 16th. The real estate investment trust reported $0.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.58 by $0.01. The company had revenue of $241.57 million during the quarter, compared to the consensus estimate of $251.72 million. Rexford Industrial Realty had a return on equity of 3.62% and a net margin of 32.04%.Rexford Industrial Realty’s revenue for the quarter was up 5.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.60 earnings per share. Rexford Industrial Realty has set its FY 2025 guidance at 2.370-2.410 EPS. As a group, analysts forecast that Rexford Industrial Realty, Inc. will post 2.38 EPS for the current year.

Rexford Industrial Realty Company Profile

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.