Rexford Industrial Realty, Inc. (NYSE:REXR) Stock Holdings Lifted by Maryland State Retirement & Pension System

Maryland State Retirement & Pension System lifted its stake in shares of Rexford Industrial Realty, Inc. (NYSE:REXR) by 5.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 16,370 shares of the real estate investment trust’s stock after acquiring an additional 908 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Rexford Industrial Realty were worth $918,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. GAMMA Investing LLC purchased a new stake in shares of Rexford Industrial Realty during the fourth quarter valued at $41,000. Fifth Third Bancorp boosted its holdings in shares of Rexford Industrial Realty by 58.2% in the third quarter. Fifth Third Bancorp now owns 1,117 shares of the real estate investment trust’s stock worth $55,000 after buying an additional 411 shares during the period. Ninepoint Partners LP purchased a new position in shares of Rexford Industrial Realty in the third quarter worth approximately $108,000. Signaturefd LLC raised its holdings in shares of Rexford Industrial Realty by 45.9% during the third quarter. Signaturefd LLC now owns 2,270 shares of the real estate investment trust’s stock valued at $112,000 after acquiring an additional 714 shares during the period. Finally, International Assets Investment Management LLC raised its holdings in shares of Rexford Industrial Realty by 5,510.9% during the fourth quarter. International Assets Investment Management LLC now owns 3,086 shares of the real estate investment trust’s stock valued at $173,000 after acquiring an additional 3,031 shares during the period. 99.52% of the stock is currently owned by institutional investors and hedge funds.

Rexford Industrial Realty Stock Up 0.8 %

Shares of REXR stock opened at $45.28 on Friday. The stock has a 50 day moving average of $47.90 and a 200-day moving average of $50.19. The firm has a market cap of $9.86 billion, a PE ratio of 41.54, a price-to-earnings-growth ratio of 1.94 and a beta of 0.89. The company has a quick ratio of 3.21, a current ratio of 3.21 and a debt-to-equity ratio of 0.41. Rexford Industrial Realty, Inc. has a 12 month low of $41.56 and a 12 month high of $58.02.

Rexford Industrial Realty (NYSE:REXR) last issued its quarterly earnings results on Thursday, April 18th. The real estate investment trust reported $0.27 earnings per share for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.30). The company 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%. Rexford Industrial Realty’s revenue for the quarter was up 15.0% on a year-over-year basis. During the same period last year, the company earned $0.52 earnings per share. On average, equities analysts predict that Rexford Industrial Realty, Inc. will post 2.34 EPS for the current 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. The ex-dividend date of this dividend is Friday, June 28th. This represents a $1.67 annualized dividend and a yield of 3.68%. Rexford Industrial Realty’s dividend payout ratio is 153.21%.

Insider Buying and Selling at Rexford Industrial Realty

In other news, General Counsel David E. Lanzer sold 18,113 shares of Rexford Industrial Realty stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $52.69, for a total transaction of $954,373.97. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 1.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on REXR. TheStreet upgraded shares of Rexford Industrial Realty from a “c+” rating to a “b-” rating in a research report on Thursday, February 1st. Truist Financial lowered their price target on Rexford Industrial Realty from $53.00 to $50.00 and set a “buy” rating on the stock in a report on Thursday, May 2nd. Mizuho reissued a “neutral” rating and issued a $52.00 price objective on shares of Rexford Industrial Realty in a research note on Tuesday, April 2nd. Wedbush began coverage on Rexford Industrial Realty in a research report on Monday, April 22nd. They set a “neutral” rating and a $45.00 price objective for the company. Finally, Barclays upped their target price on Rexford Industrial Realty from $45.00 to $46.00 and gave the company an “underweight” rating in a report on Tuesday, April 23rd. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $53.36.

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.