Rexford Industrial Realty, Inc. $REXR Shares Bought by Public Employees Retirement System of Ohio

Key Points

• The Public Employees Retirement System of Ohio increased its stake in Rexford Industrial Realty by 5.8%, owning around 411,128 shares valued at approximately $14.6 million.
• Several analysts have adjusted their price targets for Rexford Industrial Realty, with predictions ranging from $40.00 to $43.00 and most ratings indicating a consensus of "Hold."
• The company plans to distribute a quarterly dividend of $0.43 per share on October 15th, reflecting an annualized yield of 4.1%.

Public Employees Retirement System of Ohio lifted its stake in Rexford Industrial Realty, Inc. (NYSE:REXR - Free Report) by 5.8% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 411,128 shares of the real estate investment trust's stock after buying an additional 22,471 shares during the quarter. Public Employees Retirement System of Ohio owned approximately 0.17% of Rexford Industrial Realty worth $14,624,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Teacher Retirement System of Texas grew its stake in shares of Rexford Industrial Realty by 198.3% during the 1st quarter. Teacher Retirement System of Texas now owns 39,028 shares of the real estate investment trust's stock worth $1,528,000 after purchasing an additional 25,945 shares during the period. GAMMA Investing LLC boosted its holdings in Rexford Industrial Realty by 211.2% during the first quarter. GAMMA Investing LLC now owns 1,441 shares of the real estate investment trust's stock worth $56,000 after buying an additional 978 shares in the last quarter. M&T Bank Corp grew its position in Rexford Industrial Realty by 1.2% during the first quarter. M&T Bank Corp now owns 26,857 shares of the real estate investment trust's stock valued at $1,052,000 after buying an additional 317 shares during the period. Bessemer Group Inc. increased its holdings in 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 buying an additional 405 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. raised its position in shares of Rexford Industrial Realty by 40.5% in the first quarter. Oppenheimer Asset Management Inc. now owns 36,792 shares of the real estate investment trust's stock worth $1,440,000 after acquiring an additional 10,603 shares during the period. 99.52% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts recently weighed in on REXR shares. Mizuho lifted their price target on Rexford Industrial Realty from $37.00 to $40.00 and gave the company a "neutral" rating in a research note on Monday, September 8th. Truist Financial increased their target price on Rexford Industrial Realty from $37.00 to $42.00 and gave the company a "buy" rating in a research report on Wednesday, August 20th. Scotiabank boosted their price target on shares of Rexford Industrial Realty from $40.00 to $43.00 and gave the stock a "sector perform" rating in a report on Thursday, September 4th. Wall Street Zen raised shares of Rexford Industrial Realty from a "sell" rating to a "hold" rating in a report on Saturday, September 20th. Finally, Evercore ISI boosted their target price on shares of Rexford Industrial Realty from $39.00 to $40.00 and gave the stock an "in-line" rating in a research note on Monday, September 15th. Two analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $41.09.

Insider Transactions at Rexford Industrial Realty

In other Rexford Industrial Realty 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 1.20% of the stock is currently owned by insiders.

Rexford Industrial Realty Price Performance

Rexford Industrial Realty stock opened at $41.58 on Friday. The company has a fifty day simple moving average of $39.77 and a 200-day simple moving average of $37.19. The firm has a market capitalization of $9.84 billion, a price-to-earnings ratio of 30.80, a PEG ratio of 4.62 and a beta of 1.13. The company has a quick ratio of 5.59, a current ratio of 5.59 and a debt-to-equity ratio of 0.37. Rexford Industrial Realty, Inc. has a 52-week low of $29.68 and a 52-week high of $51.29.

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 for the quarter, topping analysts' consensus estimates of $0.58 by $0.01. Rexford Industrial Realty had a net margin of 32.04% and a return on equity of 3.62%. The firm had revenue of $241.57 million for the quarter, compared to analyst estimates of $251.72 million. During the same period in the previous year, the business posted $0.60 earnings per share. Rexford Industrial Realty's quarterly revenue was up 5.0% on a year-over-year basis. Rexford Industrial Realty has set its FY 2025 guidance at 2.370-2.410 EPS. On average, equities analysts anticipate 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 Wednesday, October 15th. Shareholders of record on Tuesday, September 30th will be paid 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 4.1%. Rexford Industrial Realty's payout ratio is 127.41%.

Rexford Industrial Realty 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.

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 and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.