State of Alaska Department of Revenue Has $6.55 Million Stake in Rexford Industrial Realty, Inc. (NYSE:REXR)

State of Alaska Department of Revenue boosted its holdings in Rexford Industrial Realty, Inc. (NYSE:REXR) by 1.9% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 130,309 shares of the real estate investment trust’s stock after purchasing an additional 2,421 shares during the quarter. State of Alaska Department of Revenue’s holdings in Rexford Industrial Realty were worth $6,554,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Massmutual Trust Co. FSB ADV lifted its holdings in shares of Rexford Industrial Realty by 169.4% in the second quarter. Massmutual Trust Co. FSB ADV now owns 555 shares of the real estate investment trust’s stock valued at $25,000 after purchasing an additional 349 shares in the last quarter. V Square Quantitative Management LLC bought a new position in Rexford Industrial Realty during the 2nd quarter valued at $26,000. UMB Bank n.a. boosted its holdings in Rexford Industrial Realty by 164.3% during the 3rd quarter. UMB Bank n.a. now owns 719 shares of the real estate investment trust’s stock worth $36,000 after acquiring an additional 447 shares during the last quarter. Headlands Technologies LLC bought a new stake in shares of Rexford Industrial Realty in the 2nd quarter worth $41,000. Finally, EverSource Wealth Advisors LLC raised its holdings in shares of Rexford Industrial Realty by 1,252.2% in the first quarter. EverSource Wealth Advisors LLC now owns 933 shares of the real estate investment trust’s stock valued at $47,000 after purchasing an additional 864 shares during the last quarter. Institutional investors own 99.52% of the company’s stock.

Rexford Industrial Realty Trading Up 2.1 %

Shares of REXR opened at $44.25 on Tuesday. Rexford Industrial Realty, Inc. has a fifty-two week low of $41.68 and a fifty-two week high of $58.02. The business has a 50-day moving average of $49.36 and a 200 day moving average of $47.18. The firm has a market cap of $9.64 billion, a P/E ratio of 40.60, a price-to-earnings-growth ratio of 2.07 and a beta of 0.93. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.20 and a current ratio of 1.20.

Rexford Industrial Realty (NYSE:REXR) last posted its earnings results on Wednesday, October 16th. The real estate investment trust reported $0.30 earnings per share for the quarter, missing the consensus estimate of $0.58 by ($0.28). The business had revenue of $241.84 million during the quarter, compared to analysts’ expectations of $235.81 million. Rexford Industrial Realty had a return on equity of 3.35% and a net margin of 30.40%. Rexford Industrial Realty’s revenue for the quarter was up 17.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.56 EPS. As a group, research analysts forecast that Rexford Industrial Realty, Inc. will post 2.34 EPS for the current year.

Rexford Industrial Realty Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be issued a dividend of $0.4175 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $1.67 dividend on an annualized basis and a yield of 3.77%. Rexford Industrial Realty’s payout ratio is 153.21%.

Analysts Set New Price Targets

Several research firms recently weighed in on REXR. Bank of America cut shares of Rexford Industrial Realty from a “buy” rating to a “neutral” rating and cut their price target for the stock from $66.00 to $49.00 in a report on Monday, October 21st. Industrial Alliance Securities set a $55.00 target price on Rexford Industrial Realty in a report on Friday, October 18th. StockNews.com lowered Rexford Industrial Realty from a “hold” rating to a “sell” rating in a report on Monday, October 21st. Wells Fargo & Company reduced their price objective on Rexford Industrial Realty from $66.00 to $61.00 and set an “overweight” rating for the company in a research note on Wednesday, August 28th. Finally, JPMorgan Chase & Co. lifted their target price on Rexford Industrial Realty from $47.00 to $52.00 and gave the stock a “neutral” rating in a research note on Thursday, July 25th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $51.45.

Insiders Place Their Bets

In related news, CFO Laura E. Clark sold 14,185 shares of the business’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $50.15, for a total transaction of $711,377.75. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 1.20% of the company’s stock.

Rexford Industrial Realty 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.