Louisiana State Employees Retirement System Acquires Shares of 66,800 Rexford Industrial Realty, Inc. $REXR

Key Points

• Louisiana State Employees Retirement System opened a new position in Rexford Industrial Realty during the first quarter, buying 66,800 shares worth about $2.19 million.
• Rexford Industrial Realty beat earnings estimates for the quarter, reporting $0.38 EPS versus the expected $0.27, though revenue came in slightly below forecasts and was down 2.9% year over year.
• The company declared a quarterly dividend of $0.435 per share, equal to an annualized yield of about 5.1%, while analysts currently rate the stock a consensus “Hold”.

Louisiana State Employees Retirement System acquired a new position in Rexford Industrial Realty, Inc. (NYSE:REXR - Free Report) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 66,800 shares of the real estate investment trust's stock, valued at approximately $2,186,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in REXR. V Square Quantitative Management LLC purchased a new position in shares of Rexford Industrial Realty during the 4th quarter valued at about $31,000. Fideuram Intesa Sanpaolo Private Banking S.P.A. purchased a new position in Rexford Industrial Realty during the fourth quarter valued at approximately $34,000. Wiser Advisor Group LLC acquired a new position in Rexford Industrial Realty in the third quarter valued at approximately $34,000. Allworth Financial LP boosted its position in Rexford Industrial Realty by 140.3% in the 3rd quarter. Allworth Financial LP now owns 983 shares of the real estate investment trust's stock worth $40,000 after purchasing an additional 574 shares in the last quarter. Finally, Meeder Asset Management Inc. boosted its position in Rexford Industrial Realty by 724.4% in the 4th quarter. Meeder Asset Management Inc. now owns 1,113 shares of the real estate investment trust's stock worth $43,000 after purchasing an additional 978 shares in the last quarter. 99.52% of the stock is currently owned by institutional investors and hedge funds.

Rexford Industrial Realty Stock Down 0.6%

NYSE REXR opened at $34.15 on Tuesday. The business has a fifty day moving average price of $35.15 and a 200 day moving average price of $36.75. Rexford Industrial Realty, Inc. has a one year low of $32.14 and a one year high of $44.38. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.50 and a current ratio of 1.50. The company has a market cap of $7.71 billion, a P/E ratio of 36.72, a P/E/G ratio of 1.43 and a beta of 1.21.

Rexford Industrial Realty (NYSE:REXR - Get Free Report) last announced its earnings results on Thursday, April 23rd. The real estate investment trust reported $0.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.27 by $0.11. The company had revenue of $242.14 million for the quarter, compared to analysts' expectations of $243.78 million. Rexford Industrial Realty had a net margin of 23.25% and a return on equity of 2.64%. The firm's quarterly revenue was down 2.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.62 EPS. Rexford Industrial Realty has set its FY 2026 guidance at 2.370-2.42 EPS. Research analysts anticipate that Rexford Industrial Realty, Inc. will post 2.4 EPS for the current fiscal year.

Rexford Industrial Realty Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th will be paid a dividend of $0.435 per share. This represents a $1.74 annualized dividend and a yield of 5.1%. The ex-dividend date of this dividend is Tuesday, June 30th. Rexford Industrial Realty's dividend payout ratio is currently 187.10%.

Analyst Ratings Changes

Several equities analysts recently issued reports on the stock. Scotiabank raised shares of Rexford Industrial Realty from a "sector perform" rating to a "sector outperform" rating and lowered their price target for the stock from $38.00 to $36.00 in a report on Thursday, June 18th. Truist Financial cut their price objective on shares of Rexford Industrial Realty from $40.00 to $38.00 and set a "buy" rating for the company in a report on Thursday, May 21st. Mizuho decreased their price objective on shares of Rexford Industrial Realty from $38.00 to $35.00 and set a "neutral" rating for the company in a research report on Wednesday, June 10th. Raymond James Financial began coverage on shares of Rexford Industrial Realty in a research note on Wednesday, June 17th. They set an "underperform" rating on the stock. Finally, Zacks Research upgraded Rexford Industrial Realty from a "strong sell" rating to a "hold" rating in a research report on Tuesday, April 28th. Five investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and three have issued a Sell rating to the company's stock. According to MarketBeat, Rexford Industrial Realty presently has an average rating of "Hold" and a consensus target price of $40.62.

Insider Buying and Selling

In other Rexford Industrial Realty news, General Counsel David E. Lanzer sold 33,299 shares of the stock in a transaction dated Tuesday, April 28th. The shares were sold at an average price of $35.47, for a total value of $1,181,115.53. Following the completion of the sale, the general counsel owned 33,299 shares in the company, valued at approximately $1,181,115.53. This represents a 50.00% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.80% of the company's stock.

About Rexford Industrial Realty

Rexford Industrial Realty, Inc NYSE: REXR is a real estate investment trust (REIT) specializing in the acquisition, ownership and operation of industrial properties in Southern California. The company's portfolio is concentrated in infill locations across key supply-chain markets, where it targets modern distribution centers, logistics facilities and light manufacturing spaces. Rexford's strategy emphasizes buildings that offer proximity to major transportation routes and labor pools, catering to tenants in e-commerce, third-party logistics and manufacturing industries.

Since its founding in 2013, Rexford Industrial Realty has executed a disciplined growth plan driven by property acquisitions, selective development projects and strategic value-add initiatives.

Want to see what other hedge funds are holding REXR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Rexford Industrial Realty, Inc. (NYSE:REXR - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.