Employees Retirement System of Texas Sells 89,000 Shares of Rexford Industrial Realty, Inc. (NYSE:REXR)

Employees Retirement System of Texas lessened its holdings in Rexford Industrial Realty, Inc. (NYSE:REXR - Free Report) by 59.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund 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 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the business. Rush Island Management LP bought a new stake in Rexford Industrial Realty in the 4th quarter worth about $132,701,000. Norges Bank purchased a new position in shares of Rexford Industrial Realty in the 4th quarter worth approximately $104,685,000. Long Pond Capital LP bought a new position in shares of Rexford Industrial Realty in the fourth quarter valued at approximately $58,595,000. Northern Trust Corp increased its position in shares of Rexford Industrial Realty by 94.3% during the fourth quarter. Northern Trust Corp now owns 3,104,624 shares of the real estate investment trust's stock valued at $120,025,000 after acquiring an additional 1,506,779 shares during the last quarter. Finally, Resolution Capital Ltd purchased a new position in Rexford Industrial Realty in the fourth quarter worth $52,025,000. Institutional investors own 99.52% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on REXR shares. Barclays decreased their target price on Rexford Industrial Realty from $38.00 to $35.00 and set an "underweight" rating for the company in a research report on Wednesday, April 30th. Wells Fargo & Company decreased their price objective on shares of Rexford Industrial Realty from $45.00 to $39.00 and set an "overweight" rating for the company in a report on Monday, May 19th. Evercore ISI dropped their target price on shares of Rexford Industrial Realty from $43.00 to $40.00 and set an "outperform" rating on the stock in a research note on Monday, April 21st. Industrial Alliance Securities set a $38.00 target price on shares of Rexford Industrial Realty in a research report on Tuesday, March 25th. Finally, Truist Financial decreased their price target on shares of Rexford Industrial Realty from $44.00 to $37.00 and set a "buy" rating for the company in a research note on Thursday, May 1st. 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 company. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $40.00.

Rexford Industrial Realty Stock Performance

REXR stock traded down $0.03 during midday trading on Friday, reaching $35.29. 5,299,526 shares of the company's stock traded hands, compared to its average volume of 2,020,651. The firm has a market capitalization of $8.35 billion, a PE ratio of 29.17, a price-to-earnings-growth ratio of 2.62 and a beta of 1.12. The company has a 50-day moving average price of $34.57 and a two-hundred day moving average price of $38.31. Rexford Industrial Realty, Inc. has a 52 week low of $29.68 and a 52 week high of $52.61. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.30 and a current ratio of 1.30.

Rexford Industrial Realty (NYSE:REXR - Get Free Report) last announced its quarterly earnings results on Wednesday, April 16th. The real estate investment trust reported $0.62 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.05. Rexford Industrial Realty had a return on equity of 3.26% and a net margin of 29.10%. The firm had revenue of $248.82 million for the quarter, compared to analysts' expectations of $246.74 million. As a group, equities analysts anticipate that Rexford Industrial Realty, Inc. will post 2.38 EPS for the current year.

Rexford Industrial Realty Announces Dividend

The company also recently declared 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. This represents a $1.72 annualized dividend and a yield of 4.87%. The ex-dividend date of this dividend is Monday, June 30th. Rexford Industrial Realty's payout ratio is 138.71%.

Rexford Industrial Realty Company Profile

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.