State of Alaska Department of Revenue Has $5.07 Million Stock Position in Rexford Industrial Realty, Inc. $REXR

Key Points

• The State of Alaska Department of Revenue increased its holdings in Rexford Industrial Realty by 6.1% in Q2, owning a total of 142,458 shares valued at approximately $5.07 million.
• Rexford Industrial Realty recently announced a quarterly dividend of $0.43 per share, equating to an annualized yield of 4.1%, with a payout ratio of 127.41%.
• Wall Street analysts have set a consensus target price of $41.09 for Rexford, with two analysts recommending a Buy rating and seven advising a Hold.

State of Alaska Department of Revenue grew its holdings in shares of Rexford Industrial Realty, Inc. (NYSE:REXR - Free Report) by 6.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 142,458 shares of the real estate investment trust's stock after acquiring an additional 8,208 shares during the quarter. State of Alaska Department of Revenue owned 0.06% of Rexford Industrial Realty worth $5,066,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of REXR. Northwestern Mutual Wealth Management Co. increased its position in Rexford Industrial Realty by 403.6% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 690 shares of the real estate investment trust's stock worth $27,000 after purchasing an additional 553 shares in the last quarter. MassMutual Private Wealth & Trust FSB increased its holdings in shares of Rexford Industrial Realty by 332.9% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 736 shares of the real estate investment trust's stock worth $29,000 after buying an additional 566 shares in the last quarter. Bessemer Group Inc. increased its holdings in shares of Rexford Industrial Realty by 118.4% during the first quarter. Bessemer Group Inc. now owns 747 shares of the real estate investment trust's stock worth $29,000 after buying an additional 405 shares in the last quarter. Private Trust Co. NA increased its holdings 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 worth $30,000 after buying an additional 370 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd increased its holdings in Rexford Industrial Realty by 280.7% in the 1st quarter. Caitong International Asset Management Co. Ltd now owns 1,085 shares of the real estate investment trust's stock worth $42,000 after purchasing an additional 800 shares in the last quarter. Institutional investors and hedge funds own 99.52% of the company's stock.

Insiders Place Their Bets

In related news, General Counsel David E. Lanzer sold 26,449 shares of the business's stock in a transaction dated Monday, July 21st. The shares were sold at an average price of $36.87, for a total transaction of $975,174.63. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Company insiders own 1.20% of the company's stock.

Wall Street Analyst Weigh In

REXR has been the subject of several recent research reports. Mizuho upped their price objective 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. Barclays increased their target price on shares of Rexford Industrial Realty from $35.00 to $39.00 and gave the company an "underweight" rating in a research report on Monday, September 15th. Evercore ISI increased their price target on Rexford Industrial Realty from $39.00 to $40.00 and gave the stock an "in-line" rating in a report on Monday, September 15th. Truist Financial raised their target price on Rexford Industrial Realty from $37.00 to $42.00 and gave the stock a "buy" rating in a research note on Wednesday, August 20th. Finally, Industrial Alliance Securities set a $40.00 target price on Rexford Industrial Realty in a research note on Monday, September 15th. Two research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $41.09.

Rexford Industrial Realty Price Performance

REXR stock opened at $41.58 on Monday. The company has a market capitalization of $9.84 billion, a P/E ratio of 30.80, a price-to-earnings-growth ratio of 4.62 and a beta of 1.13. The company has a debt-to-equity ratio of 0.37, a quick ratio of 5.59 and a current ratio of 5.59. Rexford Industrial Realty, Inc. has a 52-week low of $29.68 and a 52-week high of $51.29. The business has a 50-day simple moving average of $39.77 and a two-hundred day simple moving average of $37.17.

Rexford Industrial Realty (NYSE:REXR - Get Free Report) last announced its 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 analysts' expectations of $251.72 million. Rexford Industrial Realty had a return on equity of 3.62% and a net margin of 32.04%.Rexford Industrial Realty's quarterly revenue was up 5.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.60 earnings per share. Rexford Industrial Realty has set its FY 2025 guidance at 2.370-2.410 EPS. Research analysts expect that Rexford Industrial Realty, Inc. will post 2.38 EPS for the current fiscal year.

Rexford Industrial Realty Announces Dividend

The company also recently disclosed 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. This represents a $1.72 dividend on an annualized basis and a yield of 4.1%. The ex-dividend date of this dividend is Tuesday, September 30th. Rexford Industrial Realty's payout ratio is currently 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.

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