Rexford Industrial Realty, Inc. (NYSE:REXR) Shares Purchased by California Public Employees Retirement System

California Public Employees Retirement System raised its stake in shares of Rexford Industrial Realty, Inc. (NYSE:REXR) by 1.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 366,933 shares of the real estate investment trust’s stock after acquiring an additional 4,091 shares during the period. California Public Employees Retirement System owned approximately 0.17% of Rexford Industrial Realty worth $20,585,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the stock. Principal Financial Group Inc. increased its position in shares of Rexford Industrial Realty by 0.3% during the third quarter. Principal Financial Group Inc. now owns 13,579,313 shares of the real estate investment trust’s stock valued at $670,137,000 after acquiring an additional 46,811 shares during the last quarter. Invesco Ltd. increased its position in shares of Rexford Industrial Realty by 1.9% during the third quarter. Invesco Ltd. now owns 6,484,017 shares of the real estate investment trust’s stock valued at $319,986,000 after acquiring an additional 120,596 shares during the last quarter. Schroder Investment Management Group increased its position in shares of Rexford Industrial Realty by 0.5% during the third quarter. Schroder Investment Management Group now owns 2,582,529 shares of the real estate investment trust’s stock valued at $127,448,000 after acquiring an additional 12,327 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Rexford Industrial Realty by 4.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,368,955 shares of the real estate investment trust’s stock valued at $116,908,000 after acquiring an additional 93,050 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its position in shares of Rexford Industrial Realty by 0.4% during the third quarter. Bank of New York Mellon Corp now owns 2,034,769 shares of the real estate investment trust’s stock valued at $100,416,000 after acquiring an additional 8,238 shares during the last quarter. 99.52% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on REXR shares. Wedbush started 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. JPMorgan Chase & Co. cut shares of Rexford Industrial Realty from an “overweight” rating to a “neutral” rating and set a $55.00 price objective for the company. in a report on Wednesday, February 7th. Mizuho restated a “neutral” rating and issued a $52.00 price objective on shares of Rexford Industrial Realty in a report on Tuesday, April 2nd. Truist Financial dropped their price objective on shares of Rexford Industrial Realty from $57.00 to $53.00 and set a “buy” rating for the company in a report on Tuesday, April 16th. Finally, Robert W. Baird restated a “neutral” rating and issued a $61.00 price objective (up previously from $53.00) on shares of Rexford Industrial Realty in a report on Friday, January 5th. Two analysts have rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, Rexford Industrial Realty currently has a consensus rating of “Hold” and a consensus price target of $54.73.

Insider Transactions at Rexford Industrial Realty

In other news, General Counsel David E. Lanzer sold 18,113 shares of the business’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $52.69, for a total transaction of $954,373.97. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 1.10% of the company’s stock.

Rexford Industrial Realty Stock Up 0.5 %

Shares of NYSE:REXR opened at $43.20 on Monday. The company has a market capitalization of $9.41 billion, a PE ratio of 39.63, a P/E/G ratio of 1.90 and a beta of 0.86. 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, Inc. has a twelve month low of $41.56 and a twelve month high of $58.02. The firm has a 50 day simple moving average of $49.30 and a 200-day simple moving average of $50.44.

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 for the quarter, missing the consensus estimate of $0.57 by ($0.30). The company had revenue of $214.10 million for the quarter, compared to analysts’ expectations of $207.39 million. Rexford Industrial Realty had a return on equity of 3.04% and a net margin of 28.84%. The firm’s quarterly revenue was up 15.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.52 EPS. On average, equities analysts predict that Rexford Industrial Realty, Inc. will post 2.33 EPS for the current fiscal year.

Rexford Industrial Realty Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Friday, June 28th will be given a dividend of $0.417 per share. The ex-dividend date is Friday, June 28th. This represents a $1.67 annualized dividend and a dividend yield of 3.86%. Rexford Industrial Realty’s dividend payout ratio is presently 153.21%.

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.