Treasurer of the State of North Carolina Grows Position in Rexford Industrial Realty, Inc. (NYSE:REXR)

Treasurer of the State of North Carolina raised its position in Rexford Industrial Realty, Inc. (NYSE:REXR) by 2.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 96,804 shares of the real estate investment trust’s stock after acquiring an additional 2,580 shares during the quarter. Treasurer of the State of North Carolina’s holdings in Rexford Industrial Realty were worth $3,742,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. Stifel Financial Corp boosted its holdings in Rexford Industrial Realty by 2.7% in the third quarter. Stifel Financial Corp now owns 53,402 shares of the real estate investment trust’s stock valued at $2,687,000 after purchasing an additional 1,380 shares in the last quarter. Orion Portfolio Solutions LLC acquired a new position in shares of Rexford Industrial Realty in the 3rd quarter valued at $229,000. Tidal Investments LLC grew its position in shares of Rexford Industrial Realty by 22.5% in the 3rd quarter. Tidal Investments LLC now owns 171,433 shares of the real estate investment trust’s stock valued at $8,625,000 after buying an additional 31,528 shares during the last quarter. Franklin Resources Inc. raised its stake in Rexford Industrial Realty by 1.1% during the 3rd quarter. Franklin Resources Inc. now owns 822,740 shares of the real estate investment trust’s stock worth $38,924,000 after acquiring an additional 9,200 shares in the last quarter. Finally, Oddo BHF Asset Management Sas purchased a new stake in Rexford Industrial Realty in the third quarter valued at $10,925,000. 99.52% of the stock is owned by hedge funds and other institutional investors.

Rexford Industrial Realty Stock Performance

Shares of NYSE REXR opened at $32.53 on Wednesday. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.30 and a quick ratio of 1.30. The company has a market cap of $7.41 billion, a PE ratio of 26.88, a price-to-earnings-growth ratio of 2.62 and a beta of 0.99. The company has a 50-day simple moving average of $38.66 and a 200-day simple moving average of $40.86. Rexford Industrial Realty, Inc. has a 12 month low of $29.68 and a 12 month high of $52.61.

Rexford Industrial Realty (NYSE:REXR) last issued its quarterly earnings results on Wednesday, February 5th. The real estate investment trust reported $0.58 earnings per share for the quarter, beating the consensus estimate of $0.27 by $0.31. Rexford Industrial Realty had a return on equity of 3.26% and a net margin of 29.10%. On average, equities analysts anticipate that Rexford Industrial Realty, Inc. will post 2.38 earnings per share for the current year.

Rexford Industrial Realty Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were paid a dividend of $0.43 per share. The ex-dividend date of this dividend was Monday, March 31st. This represents a $1.72 dividend on an annualized basis and a dividend yield of 5.29%. This is an increase from Rexford Industrial Realty’s previous quarterly dividend of $0.42. Rexford Industrial Realty’s dividend payout ratio is currently 142.15%.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the company. Deutsche Bank Aktiengesellschaft initiated coverage on Rexford Industrial Realty in a report on Tuesday, January 14th. They issued a “hold” rating and a $40.00 target price for the company. JPMorgan Chase & Co. decreased their target price on shares of Rexford Industrial Realty from $45.00 to $44.00 and set a “neutral” rating for the company in a research note on Thursday, February 13th. Scotiabank dropped their price target on Rexford Industrial Realty from $47.00 to $39.00 and set a “sector perform” rating on the stock in a research report on Monday, April 7th. Mizuho decreased their price objective on Rexford Industrial Realty from $46.00 to $45.00 and set a “neutral” rating for the company in a research report on Wednesday, January 8th. Finally, Barclays dropped their target price on Rexford Industrial Realty from $41.00 to $38.00 and set an “underweight” rating on the stock in a report on Tuesday, March 25th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, Rexford Industrial Realty presently has a consensus rating of “Hold” and an average target price of $46.17.

Rexford Industrial Realty 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.