Teachers Retirement System of The State of Kentucky Has $3.54 Million Holdings in Rexford Industrial Realty, Inc. (NYSE:REXR)

Teachers Retirement System of The State of Kentucky cut its holdings in Rexford Industrial Realty, Inc. (NYSE:REXR) by 5.0% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 63,033 shares of the real estate investment trust’s stock after selling 3,300 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in Rexford Industrial Realty were worth $3,536,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. Napa Wealth Management acquired a new position in Rexford Industrial Realty in the fourth quarter valued at approximately $298,000. Quarry LP lifted its stake in Rexford Industrial Realty by 195.8% in the fourth quarter. Quarry LP now owns 1,118 shares of the real estate investment trust’s stock valued at $63,000 after buying an additional 740 shares during the period. GRS Advisors LLC lifted its stake in Rexford Industrial Realty by 14.8% in the fourth quarter. GRS Advisors LLC now owns 770,115 shares of the real estate investment trust’s stock valued at $43,203,000 after buying an additional 99,102 shares during the period. Heitman Real Estate Securities LLC lifted its stake in Rexford Industrial Realty by 24.2% in the fourth quarter. Heitman Real Estate Securities LLC now owns 1,164,070 shares of the real estate investment trust’s stock valued at $65,304,000 after buying an additional 226,951 shares during the period. Finally, Balyasny Asset Management L.P. lifted its stake in Rexford Industrial Realty by 63.1% in the fourth quarter. Balyasny Asset Management L.P. now owns 1,351,538 shares of the real estate investment trust’s stock valued at $75,821,000 after buying an additional 523,040 shares during the period. 99.52% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on REXR shares. Scotiabank lowered their target price on Rexford Industrial Realty from $55.00 to $51.00 and set a “sector outperform” rating on the stock in a research report on Thursday, May 16th. Mizuho lowered their target price on Rexford Industrial Realty from $52.00 to $50.00 and set a “neutral” rating on the stock in a research report on Friday, May 31st. Wedbush started coverage on Rexford Industrial Realty in a research report on Monday, April 22nd. They set a “neutral” rating and a $45.00 target price on the stock. Robert W. Baird lowered their target price on Rexford Industrial Realty from $57.00 to $49.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 1st. Finally, Truist Financial lowered their target price on Rexford Industrial Realty from $53.00 to $50.00 and set a “buy” rating on the stock in a research report on Thursday, May 2nd. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $52.44.

Rexford Industrial Realty Trading Down 2.4 %

NYSE REXR opened at $44.02 on Wednesday. The firm has a market capitalization of $9.59 billion, a P/E ratio of 40.39, a PEG ratio of 1.81 and a beta of 0.93. The business has a fifty day simple moving average of $44.55 and a 200 day simple moving average of $50.07. Rexford Industrial Realty, Inc. has a 12 month low of $41.56 and a 12 month high of $58.02. The company has a current ratio of 3.21, a quick ratio of 3.21 and a debt-to-equity ratio of 0.41.

Rexford Industrial Realty (NYSE:REXR) last announced its quarterly earnings data on Thursday, April 18th. The real estate investment trust reported $0.27 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.30). The business had revenue of $214.10 million during the quarter, compared to the consensus estimate of $207.39 million. Rexford Industrial Realty had a net margin of 28.84% and a return on equity of 3.04%. The firm’s revenue for the quarter was up 15.0% compared to the same quarter last year. During the same quarter last year, the company earned $0.52 EPS. On average, analysts predict that Rexford Industrial Realty, Inc. will post 2.34 EPS for the current fiscal year.

Rexford Industrial Realty Cuts Dividend

The firm 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 $0.417 dividend. The ex-dividend date of this dividend is Friday, June 28th. This represents a $1.67 dividend on an annualized basis and a yield of 3.79%. Rexford Industrial Realty’s dividend payout ratio (DPR) is presently 153.21%.

About Rexford Industrial Realty

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.