New York State Common Retirement Fund Sells 897 Shares of Rexford Industrial Realty, Inc. (NYSE:REXR)

New York State Common Retirement Fund lessened its holdings in Rexford Industrial Realty, Inc. (NYSE:REXR) by 0.4% during the 4th quarter, Holdings Channel reports. The firm owned 216,364 shares of the real estate investment trust’s stock after selling 897 shares during the period. New York State Common Retirement Fund’s holdings in Rexford Industrial Realty were worth $8,365,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Creative Planning grew its stake in shares of Rexford Industrial Realty by 36.1% during the third quarter. Creative Planning now owns 24,381 shares of the real estate investment trust’s stock worth $1,227,000 after purchasing an additional 6,468 shares during the period. Signaturefd LLC grew its position in shares of Rexford Industrial Realty by 22.2% during the 3rd quarter. Signaturefd LLC now owns 2,637 shares of the real estate investment trust’s stock worth $133,000 after buying an additional 479 shares during the period. International Assets Investment Management LLC increased its stake in shares of Rexford Industrial Realty by 4,835.8% in the 3rd quarter. International Assets Investment Management LLC now owns 2,616 shares of the real estate investment trust’s stock valued at $132,000 after acquiring an additional 2,563 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Rexford Industrial Realty by 34.8% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 8,455 shares of the real estate investment trust’s stock valued at $427,000 after acquiring an additional 2,182 shares during the period. Finally, State of Alaska Department of Revenue boosted its stake in Rexford Industrial Realty by 1.9% during the 3rd quarter. State of Alaska Department of Revenue now owns 130,309 shares of the real estate investment trust’s stock worth $6,554,000 after acquiring an additional 2,421 shares during the last quarter. Institutional investors and hedge funds own 99.52% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on REXR. Truist Financial cut their target price on shares of Rexford Industrial Realty from $54.00 to $50.00 and set a “buy” rating on the stock in a report on Tuesday, November 12th. Barclays reduced their target price on Rexford Industrial Realty from $44.00 to $41.00 and set an “underweight” rating on the stock in a report on Monday, January 13th. JPMorgan Chase & Co. lowered their price target on Rexford Industrial Realty from $45.00 to $44.00 and set a “neutral” rating for the company in a report on Thursday, February 13th. Deutsche Bank Aktiengesellschaft assumed coverage on Rexford Industrial Realty in a report on Tuesday, January 14th. They set a “hold” rating and a $40.00 price objective on the stock. Finally, Mizuho lowered their target price on Rexford Industrial Realty from $46.00 to $45.00 and set a “neutral” rating for the company in a research note on Wednesday, January 8th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $48.75.

Rexford Industrial Realty Stock Up 0.9 %

Rexford Industrial Realty stock opened at $40.62 on Wednesday. The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 0.39. Rexford Industrial Realty, Inc. has a 1-year low of $36.92 and a 1-year high of $53.88. The company has a fifty day simple moving average of $39.60 and a 200 day simple moving average of $44.06. The company has a market cap of $9.26 billion, a P/E ratio of 33.57, a price-to-earnings-growth ratio of 2.62 and a beta of 0.95.

Rexford Industrial Realty (NYSE:REXR) last released its earnings results on Wednesday, February 5th. The real estate investment trust reported $0.58 earnings per share (EPS) for the quarter, topping 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%. Research analysts anticipate that Rexford Industrial Realty, Inc. will post 2.38 earnings per share for the current fiscal year.

Rexford Industrial Realty Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be paid a $0.43 dividend. The ex-dividend date is Monday, March 31st. This is a boost from Rexford Industrial Realty’s previous quarterly dividend of $0.42. This represents a $1.72 annualized dividend and a dividend yield of 4.23%. Rexford Industrial Realty’s dividend payout ratio (DPR) is currently 142.15%.

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.