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

New York State Common Retirement Fund decreased its holdings in Rexford Industrial Realty, Inc. (NYSE:REXR) by 8.2% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 161,817 shares of the real estate investment trust’s stock after selling 14,377 shares during the quarter. New York State Common Retirement Fund owned about 0.08% of Rexford Industrial Realty worth $9,078,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Lindbrook Capital LLC boosted its stake in Rexford Industrial Realty by 4.9% in the 4th quarter. Lindbrook Capital LLC now owns 5,554 shares of the real estate investment trust’s stock worth $312,000 after purchasing an additional 259 shares in the last quarter. Xponance Inc. lifted its position in Rexford Industrial Realty by 1.5% during the 3rd quarter. Xponance Inc. now owns 24,917 shares of the real estate investment trust’s stock worth $1,230,000 after acquiring an additional 359 shares during the period. Arizona State Retirement System lifted its position in Rexford Industrial Realty by 0.7% during the 4th quarter. Arizona State Retirement System now owns 57,624 shares of the real estate investment trust’s stock worth $3,233,000 after acquiring an additional 407 shares during the period. Bank Pictet & Cie Europe AG grew its stake in Rexford Industrial Realty by 1.4% during the 3rd quarter. Bank Pictet & Cie Europe AG now owns 30,244 shares of the real estate investment trust’s stock valued at $1,493,000 after purchasing an additional 408 shares during the last quarter. Finally, Fifth Third Bancorp raised its stake in shares of Rexford Industrial Realty by 58.2% in the third quarter. Fifth Third Bancorp now owns 1,117 shares of the real estate investment trust’s stock worth $55,000 after purchasing an additional 411 shares during the last quarter. 99.52% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages recently commented on REXR. Barclays upped their target price on Rexford Industrial Realty from $45.00 to $46.00 and gave the company an “underweight” rating in a research report on Tuesday, April 23rd. Mizuho reaffirmed a “neutral” rating and issued a $52.00 price target on shares of Rexford Industrial Realty in a report on Tuesday, April 2nd. Robert W. Baird reduced their price objective on Rexford Industrial Realty from $57.00 to $49.00 and set a “neutral” rating for the company in a research note on Wednesday. JPMorgan Chase & Co. downgraded Rexford Industrial Realty from an “overweight” rating to a “neutral” rating and set a $55.00 target price on the stock. in a research note on Wednesday, February 7th. Finally, TheStreet raised Rexford Industrial Realty from a “c+” rating to a “b-” rating in a report on Thursday, February 1st. Two research analysts have rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, Rexford Industrial Realty has a consensus rating of “Hold” and a consensus target price of $53.64.

Insider Buying and Selling at Rexford Industrial Realty

In other news, General Counsel David E. Lanzer sold 18,113 shares of Rexford Industrial Realty stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $52.69, for a total value of $954,373.97. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders own 1.10% of the company’s stock.

Rexford Industrial Realty Price Performance

Rexford Industrial Realty stock opened at $42.38 on Thursday. The stock has a market capitalization of $9.23 billion, a P/E ratio of 38.88, a P/E/G ratio of 1.91 and a beta of 0.86. The company’s fifty day moving average price is $48.70 and its 200 day moving average price is $50.30. 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 1 year low of $41.56 and a 1 year high of $58.02.

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

Rexford Industrial Realty Cuts Dividend

The company 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. The ex-dividend date is Friday, June 28th. This represents a $1.67 annualized dividend and a yield of 3.94%. Rexford Industrial Realty’s dividend payout ratio (DPR) is currently 153.21%.

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.