California State Teachers Retirement System lessened its holdings in Rexford Industrial Realty Inc (NYSE:REXR) by 3.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 112,984 shares of the real estate investment trust’s stock after selling 4,315 shares during the quarter. California State Teachers Retirement System owned approximately 0.15% of Rexford Industrial Realty worth $3,234,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also modified their holdings of REXR. Victory Capital Management Inc. raised its holdings in Rexford Industrial Realty by 1.9% during the 2nd quarter. Victory Capital Management Inc. now owns 3,743 shares of the real estate investment trust’s stock worth $103,000 after purchasing an additional 71 shares during the last quarter. Advisor Group Inc. raised its holdings in Rexford Industrial Realty by 13.6% during the 2nd quarter. Advisor Group Inc. now owns 3,787 shares of the real estate investment trust’s stock worth $103,000 after purchasing an additional 453 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Rexford Industrial Realty by 10.9% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,758 shares of the real estate investment trust’s stock worth $131,000 after purchasing an additional 469 shares during the last quarter. Hillsdale Investment Management Inc. bought a new position in Rexford Industrial Realty during the 2nd quarter worth approximately $159,000. Finally, Neuberger Berman Group LLC bought a new position in Rexford Industrial Realty during the 2nd quarter worth approximately $222,000. Institutional investors and hedge funds own 99.85% of the company’s stock.
Several research firms have issued reports on REXR. B. Riley restated a “neutral” rating on shares of Rexford Industrial Realty in a report on Tuesday, November 7th. BidaskClub upgraded shares of Rexford Industrial Realty from a “hold” rating to a “buy” rating in a report on Tuesday, October 10th. Stifel Nicolaus restated a “buy” rating and set a $33.00 price target (up previously from $30.00) on shares of Rexford Industrial Realty in a report on Thursday, September 14th. Jefferies Group restated a “buy” rating and set a $34.00 price target on shares of Rexford Industrial Realty in a report on Tuesday, September 26th. Finally, Zacks Investment Research upgraded shares of Rexford Industrial Realty from a “hold” rating to a “buy” rating and set a $33.00 price target for the company in a report on Thursday, January 4th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $30.78.
Shares of Rexford Industrial Realty Inc (NYSE REXR) opened at $29.05 on Wednesday. The company has a market cap of $2,260.00, a P/E ratio of 66.02, a PEG ratio of 3.45 and a beta of 0.76. Rexford Industrial Realty Inc has a 52-week low of $21.34 and a 52-week high of $31.71. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.57.
Rexford Industrial Realty (NYSE:REXR) last announced its quarterly earnings data on Tuesday, October 31st. The real estate investment trust reported $0.25 EPS for the quarter, topping the consensus estimate of $0.24 by $0.01. The company had revenue of $43.30 million during the quarter, compared to the consensus estimate of $41.77 million. Rexford Industrial Realty had a net margin of 23.50% and a return on equity of 3.39%. The company’s quarterly revenue was up 30.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.22 EPS. research analysts expect that Rexford Industrial Realty Inc will post 0.96 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, January 15th. Stockholders of record on Friday, December 29th will be given a dividend of $0.145 per share. This represents a $0.58 annualized dividend and a dividend yield of 2.00%. The ex-dividend date of this dividend is Thursday, December 28th. Rexford Industrial Realty’s dividend payout ratio (DPR) is 131.82%.
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Rexford Industrial Realty Company Profile
Rexford Industrial Realty, Inc is a self-administered and self-managed full-service real estate investment trust (REIT). The Company is focused on owning, operating and acquiring industrial properties in Southern California infill markets. Rexford Industrial Realty, L.P. is the operating partnership of the Company.
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