Louisiana State Employees Retirement System Buys 800 Shares of Rexford Industrial Realty, Inc. (NYSE:REXR)

Louisiana State Employees Retirement System increased its stake in shares of Rexford Industrial Realty, Inc. (NYSE:REXR) by 1.3% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 61,500 shares of the real estate investment trust’s stock after acquiring an additional 800 shares during the period. Louisiana State Employees Retirement System’s holdings in Rexford Industrial Realty were worth $2,742,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Koa Wealth Management LLC bought a new position in shares of Rexford Industrial Realty during the 2nd quarter worth approximately $318,000. Lecap Asset Management Ltd. bought a new position in shares of Rexford Industrial Realty during the 2nd quarter worth approximately $1,642,000. Fifth Third Wealth Advisors LLC acquired a new stake in Rexford Industrial Realty during the 2nd quarter valued at $283,000. Fifth Third Bancorp increased its holdings in Rexford Industrial Realty by 42.4% during the 2nd quarter. Fifth Third Bancorp now owns 1,741 shares of the real estate investment trust’s stock valued at $78,000 after purchasing an additional 518 shares in the last quarter. Finally, Hennion & Walsh Asset Management Inc. increased its holdings in Rexford Industrial Realty by 2.4% during the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 14,641 shares of the real estate investment trust’s stock valued at $653,000 after purchasing an additional 337 shares in the last quarter. Institutional investors own 99.52% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. StockNews.com upgraded Rexford Industrial Realty from a “sell” rating to a “hold” rating in a research report on Monday, July 22nd. Truist Financial lifted their target price on Rexford Industrial Realty from $50.00 to $54.00 and gave the stock a “buy” rating in a report on Tuesday, July 30th. Robert W. Baird reduced their target price on Rexford Industrial Realty from $57.00 to $49.00 and set a “neutral” rating on the stock in a report on Wednesday, May 1st. Evercore ISI initiated coverage on Rexford Industrial Realty in a report on Wednesday, July 10th. They set an “outperform” rating and a $54.00 target price on the stock. Finally, Scotiabank reduced their target price 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. One analyst has rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $52.70.

Rexford Industrial Realty Stock Performance

Shares of Rexford Industrial Realty stock opened at $52.03 on Friday. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.73 and a quick ratio of 1.73. The stock’s 50-day moving average is $47.93 and its 200-day moving average is $47.89. The firm has a market cap of $11.42 billion, a price-to-earnings ratio of 47.73, a price-to-earnings-growth ratio of 2.06 and a beta of 0.92. Rexford Industrial Realty, Inc. has a one year low of $41.56 and a one year high of $58.02.

Rexford Industrial Realty (NYSE:REXR) last released its earnings results on Wednesday, July 17th. The real estate investment trust reported $0.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.21). The company had revenue of $237.60 million during the quarter, compared to analyst estimates of $227.70 million. Rexford Industrial Realty had a net margin of 30.71% and a return on equity of 3.31%. Rexford Industrial Realty’s revenue was up 21.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.54 EPS. Equities analysts predict that Rexford Industrial Realty, Inc. will post 2.35 earnings per share for the current fiscal year.

Rexford Industrial Realty Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 30th will be given a $0.4175 dividend. The ex-dividend date of this dividend is Monday, September 30th. This represents a $1.67 dividend on an annualized basis and a dividend yield of 3.21%. This is an increase from Rexford Industrial Realty’s previous quarterly dividend of $0.42. Rexford Industrial Realty’s payout ratio is currently 153.21%.

Insider Activity at Rexford Industrial Realty

In related news, CEO Howard Schwimmer sold 30,358 shares of Rexford Industrial Realty stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $48.86, for a total value of $1,483,291.88. Following the sale, the chief executive officer now owns 50,673 shares of the company’s stock, valued at $2,475,882.78. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.20% of the stock is owned by company insiders.

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.