New York State Common Retirement Fund Lowers Stock Holdings in Rexford Industrial Realty, Inc. (NYSE:REXR)

New York State Common Retirement Fund lowered its stake in shares of Rexford Industrial Realty, Inc. (NYSE:REXR - Free Report) by 18.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 176,648 shares of the real estate investment trust's stock after selling 39,716 shares during the quarter. New York State Common Retirement Fund owned 0.07% of Rexford Industrial Realty worth $6,916,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. MassMutual Private Wealth & Trust FSB boosted its holdings in Rexford Industrial Realty by 332.9% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 736 shares of the real estate investment trust's stock worth $29,000 after acquiring an additional 566 shares during the last quarter. Bessemer Group Inc. raised its holdings in shares of Rexford Industrial Realty by 118.4% in the first quarter. Bessemer Group Inc. now owns 747 shares of the real estate investment trust's stock valued at $29,000 after purchasing an additional 405 shares during the last quarter. Private Trust Co. NA lifted its position in shares of Rexford Industrial Realty by 95.6% during the first quarter. Private Trust Co. NA now owns 757 shares of the real estate investment trust's stock valued at $30,000 after purchasing an additional 370 shares in the last quarter. Quantbot Technologies LP bought a new stake in Rexford Industrial Realty in the 4th quarter worth about $33,000. Finally, GAMMA Investing LLC grew its position in Rexford Industrial Realty by 211.2% in the 1st quarter. GAMMA Investing LLC now owns 1,441 shares of the real estate investment trust's stock worth $56,000 after purchasing an additional 978 shares in the last quarter. Institutional investors own 99.52% of the company's stock.

Rexford Industrial Realty Stock Performance

NYSE REXR traded down $0.43 during trading on Thursday, hitting $37.63. 2,105,146 shares of the company's stock traded hands, compared to its average volume of 3,407,056. The company has a debt-to-equity ratio of 0.37, a quick ratio of 4.90 and a current ratio of 5.59. The stock has a market capitalization of $8.91 billion, a price-to-earnings ratio of 27.87, a PEG ratio of 4.23 and a beta of 1.13. Rexford Industrial Realty, Inc. has a 12-month low of $29.68 and a 12-month high of $52.61. The business has a 50 day moving average of $36.26 and a 200-day moving average of $37.25.

Rexford Industrial Realty (NYSE:REXR - Get Free Report) last posted its quarterly earnings results on Wednesday, July 16th. The real estate investment trust reported $0.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.58 by $0.01. The company had revenue of $241.57 million for the quarter, compared to analyst estimates of $251.72 million. Rexford Industrial Realty had a net margin of 32.04% and a return on equity of 3.62%. The company's quarterly revenue was up 5.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.60 earnings per share. As a group, equities research analysts anticipate that Rexford Industrial Realty, Inc. will post 2.38 earnings per share for the current fiscal year.

Rexford Industrial Realty Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Tuesday, September 30th will be issued a dividend of $0.43 per share. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $1.72 dividend on an annualized basis and a yield of 4.57%. Rexford Industrial Realty's payout ratio is 127.41%.

Insider Activity

In other news, General Counsel David E. Lanzer sold 26,449 shares of the firm's stock in a transaction on Monday, July 21st. The stock was sold at an average price of $36.87, for a total value of $975,174.63. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 1.20% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on REXR. Truist Financial cut their target price on Rexford Industrial Realty from $44.00 to $37.00 and set a "buy" rating on the stock in a research note on Thursday, May 1st. Barclays cut their price objective on Rexford Industrial Realty from $38.00 to $35.00 and set an "underweight" rating on the stock in a research report on Wednesday, April 30th. Evercore ISI lowered Rexford Industrial Realty from an "outperform" rating to an "in-line" rating and decreased their target price for the company from $39.00 to $38.00 in a research report on Friday, July 18th. Robert W. Baird set a $43.00 target price on Rexford Industrial Realty in a research note on Tuesday, May 6th. Finally, Wells Fargo & Company reduced their price target on shares of Rexford Industrial Realty from $45.00 to $39.00 and set an "overweight" rating for the company in a research report on Monday, May 19th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the company's stock. According to data from MarketBeat, Rexford Industrial Realty presently has an average rating of "Hold" and a consensus price target of $39.82.

About Rexford Industrial Realty

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.