Employees Retirement System of Texas decreased its holdings in Rexford Industrial Realty, Inc. (NYSE:REXR - Free Report) by 59.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 60,000 shares of the real estate investment trust's stock after selling 89,000 shares during the period. Employees Retirement System of Texas' holdings in Rexford Industrial Realty were worth $2,320,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors and hedge funds have also made changes to their positions in REXR. Quantbot Technologies LP bought a new position in Rexford Industrial Realty in the fourth quarter worth approximately $33,000. Whittier Trust Co. of Nevada Inc. grew its position in shares of Rexford Industrial Realty by 515.7% during the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 1,490 shares of the real estate investment trust's stock worth $58,000 after buying an additional 1,248 shares in the last quarter. Pilgrim Partners Asia Pte Ltd bought a new position in shares of Rexford Industrial Realty during the 4th quarter worth $65,000. SRS Capital Advisors Inc. increased its stake in shares of Rexford Industrial Realty by 4,104.5% during the fourth quarter. SRS Capital Advisors Inc. now owns 2,775 shares of the real estate investment trust's stock valued at $107,000 after buying an additional 2,709 shares during the period. Finally, Quarry LP raised its holdings in shares of Rexford Industrial Realty by 18.3% in the fourth quarter. Quarry LP now owns 3,135 shares of the real estate investment trust's stock valued at $121,000 after acquiring an additional 486 shares in the last quarter. 99.52% of the stock is currently owned by institutional investors.
Rexford Industrial Realty Stock Down 0.1%
Shares of NYSE:REXR traded down $0.03 on Friday, hitting $35.29. 5,299,526 shares of the company's stock were exchanged, compared to its average volume of 2,017,404. Rexford Industrial Realty, Inc. has a 1-year low of $29.68 and a 1-year high of $52.61. The company has a market capitalization of $8.35 billion, a PE ratio of 29.17, a P/E/G ratio of 2.62 and a beta of 1.12. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.30 and a current ratio of 1.30. The firm's 50-day moving average is $34.65 and its 200 day moving average is $38.35.
Rexford Industrial Realty (NYSE:REXR - Get Free Report) last released its quarterly earnings results on Wednesday, April 16th. The real estate investment trust reported $0.62 EPS for the quarter, topping the consensus estimate of $0.57 by $0.05. The company had revenue of $248.82 million for the quarter, compared to analyst estimates of $246.74 million. Rexford Industrial Realty had a return on equity of 3.26% and a net margin of 29.10%. Sell-side analysts predict that Rexford Industrial Realty, Inc. will post 2.38 EPS for the current year.
Rexford Industrial Realty Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th will be issued a $0.43 dividend. The ex-dividend date of this dividend is Monday, June 30th. This represents a $1.72 dividend on an annualized basis and a yield of 4.87%. Rexford Industrial Realty's dividend payout ratio (DPR) is presently 138.71%.
Analysts Set New Price Targets
REXR has been the topic of several recent research reports. Scotiabank dropped their target price on Rexford Industrial Realty from $39.00 to $37.00 and set a "sector perform" rating on the stock in a research report on Monday, May 12th. Robert W. Baird set a $43.00 price objective on Rexford Industrial Realty in a research note on Tuesday, May 6th. Industrial Alliance Securities set a $38.00 target price on Rexford Industrial Realty in a research note on Tuesday, March 25th. Truist Financial reduced their target price on shares of Rexford Industrial Realty from $44.00 to $37.00 and set a "buy" rating for the company in a report on Thursday, May 1st. Finally, Barclays lowered their price target on shares of Rexford Industrial Realty from $38.00 to $35.00 and set an "underweight" rating on the stock in a report on Wednesday, April 30th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, Rexford Industrial Realty presently has a consensus rating of "Hold" and a consensus price target of $40.00.
Get Our Latest Report on REXR
About Rexford Industrial Realty
(
Free Report)
Rexford Industrial Realty, Inc is a self-administered and self-managed real estate investment trust, which engages in owning and operating industrial properties in infill markets. The company was founded by Richard S. Ziman on January 18, 2013 and is headquartered in Los Angeles, CA.
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