Rexford Industrial Realty, Inc. (NYSE:REXR) Shares Purchased by State of Alaska Department of Revenue

State of Alaska Department of Revenue raised its holdings in Rexford Industrial Realty, Inc. (NYSE:REXR) by 0.3% in the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 123,265 shares of the real estate investment trust’s stock after acquiring an additional 420 shares during the period. State of Alaska Department of Revenue’s holdings in Rexford Industrial Realty were worth $6,199,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Vanguard Group Inc. grew its position in shares of Rexford Industrial Realty by 4.5% in the fourth quarter. Vanguard Group Inc. now owns 28,981,854 shares of the real estate investment trust’s stock valued at $1,625,882,000 after purchasing an additional 1,235,894 shares during the period. Principal Financial Group Inc. grew its holdings in Rexford Industrial Realty by 1.3% in the 4th quarter. Principal Financial Group Inc. now owns 13,760,865 shares of the real estate investment trust’s stock valued at $771,985,000 after buying an additional 181,552 shares during the period. Centersquare Investment Management LLC increased its stake in shares of Rexford Industrial Realty by 4.4% during the 4th quarter. Centersquare Investment Management LLC now owns 3,895,394 shares of the real estate investment trust’s stock valued at $218,532,000 after acquiring an additional 164,590 shares during the last quarter. Cbre Investment Management Listed Real Assets LLC lifted its holdings in shares of Rexford Industrial Realty by 15.8% during the 4th quarter. Cbre Investment Management Listed Real Assets LLC now owns 3,225,970 shares of the real estate investment trust’s stock worth $180,977,000 after acquiring an additional 441,039 shares during the period. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of Rexford Industrial Realty by 2.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 3,077,816 shares of the real estate investment trust’s stock worth $172,670,000 after acquiring an additional 73,701 shares during the period. Hedge funds and other institutional investors own 99.52% of the company’s stock.

Rexford Industrial Realty Price Performance

Shares of NYSE REXR opened at $45.23 on Thursday. The company has a debt-to-equity ratio of 0.41, a current ratio of 3.21 and a quick ratio of 3.21. Rexford Industrial Realty, Inc. has a 1-year low of $41.56 and a 1-year high of $58.02. The company has a market capitalization of $9.85 billion, a price-to-earnings ratio of 41.50, a PEG ratio of 1.81 and a beta of 0.92. The business has a 50-day moving average of $44.56 and a 200-day moving average of $49.39.

Rexford Industrial Realty (NYSE:REXR) last issued 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 firm had revenue of $214.10 million during the quarter, compared to analyst estimates 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 was up 15.0% compared to the same quarter last year. During the same period last year, the business earned $0.52 EPS. On average, equities analysts anticipate that Rexford Industrial Realty, Inc. will post 2.34 EPS for the current fiscal year.

Rexford Industrial Realty Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Friday, June 28th will be paid a dividend of $0.417 per share. This represents a $1.67 annualized dividend and a yield of 3.69%. The ex-dividend date is Friday, June 28th. Rexford Industrial Realty’s dividend payout ratio (DPR) is 153.21%.

Analyst Ratings Changes

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

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.