Rexford Industrial Realty, Inc. (NYSE:REXR) Shares Purchased by Retirement Systems of Alabama

Retirement Systems of Alabama raised its stake in shares of Rexford Industrial Realty, Inc. (NYSE:REXR - Free Report) by 1.2% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 595,552 shares of the real estate investment trust's stock after purchasing an additional 7,034 shares during the period. Retirement Systems of Alabama owned 0.25% of Rexford Industrial Realty worth $23,316,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Envestnet Portfolio Solutions Inc. acquired a new position in Rexford Industrial Realty during the first quarter worth approximately $208,000. LDR Capital Management LLC acquired a new stake in shares of Rexford Industrial Realty in the first quarter worth $4,558,000. State of Alaska Department of Revenue increased its position in shares of Rexford Industrial Realty by 2.1% in the first quarter. State of Alaska Department of Revenue now owns 134,250 shares of the real estate investment trust's stock worth $5,254,000 after acquiring an additional 2,731 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its position in shares of Rexford Industrial Realty by 16.9% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 20,667 shares of the real estate investment trust's stock worth $809,000 after acquiring an additional 2,987 shares in the last quarter. Finally, Fifth Third Bancorp increased its position in shares of Rexford Industrial Realty by 335.6% in the first quarter. Fifth Third Bancorp now owns 3,219 shares of the real estate investment trust's stock worth $126,000 after acquiring an additional 2,480 shares in the last quarter. Institutional investors and hedge funds own 99.52% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Barclays dropped their price objective on shares of 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. Truist Financial dropped their price objective on shares of Rexford Industrial Realty from $44.00 to $37.00 and set a "buy" rating for the company in a research report on Thursday, May 1st. Robert W. Baird set a $43.00 price objective on shares of Rexford Industrial Realty in a research report on Tuesday, May 6th. Evercore ISI dropped their price objective on shares of Rexford Industrial Realty from $43.00 to $40.00 and set an "outperform" rating for the company in a research report on Monday, April 21st. Finally, Scotiabank dropped their price objective on shares of Rexford Industrial Realty from $39.00 to $37.00 and set a "sector perform" rating for the company in a research report on Monday, May 12th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $40.00.

Rexford Industrial Realty Price Performance

REXR opened at $36.59 on Friday. The company has a fifty day simple moving average of $34.74 and a 200 day simple moving average of $37.69. The firm has a market cap of $8.66 billion, a price-to-earnings ratio of 29.51, a PEG ratio of 3.36 and a beta of 1.14. Rexford Industrial Realty, Inc. has a twelve month low of $29.68 and a twelve month high of $52.61. The company has a current ratio of 4.90, a quick ratio of 4.90 and a debt-to-equity ratio of 0.37.

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 earnings per share for the quarter, beating analysts' consensus estimates of $0.57 by $0.05. The business had revenue of $248.82 million during the quarter, compared to analyst estimates of $246.74 million. Rexford Industrial Realty had a net margin of 28.96% and a return on equity of 3.31%. Equities research analysts expect that Rexford Industrial Realty, Inc. will post 2.38 EPS for the current fiscal year.

Rexford Industrial Realty Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th will be issued a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a yield of 4.70%. The ex-dividend date of this dividend is Monday, June 30th. Rexford Industrial Realty's dividend payout ratio is currently 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.

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