State of New Jersey Common Pension Fund D Has $13.02 Million Stake in Rexford Industrial Realty, Inc. $REXR

Key Points

• The State of New Jersey Common Pension Fund D holds a position in Rexford Industrial Realty, owning 332,671 shares valued at approximately $13.02 million, after decreasing its stake by 2.1% in the first quarter.
• Recent analyst reports show a downward revision in price targets for Rexford Industrial Realty, with JPMorgan, Wells Fargo, and Barclays adjusting their targets to ranges between $35.00 and $39.00, reflecting cautious sentiment.
• Rexford Industrial Realty announced a quarterly dividend of $0.43 per share, with a yielding rate of 4.5%, and will be payable on October 15th to investors of record as of September 30th.

State of New Jersey Common Pension Fund D trimmed its position in shares of Rexford Industrial Realty, Inc. (NYSE:REXR - Free Report) by 2.1% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 332,671 shares of the real estate investment trust's stock after selling 7,215 shares during the period. State of New Jersey Common Pension Fund D owned 0.14% of Rexford Industrial Realty worth $13,024,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the company. Teacher Retirement System of Texas boosted its position in shares of Rexford Industrial Realty by 198.3% in the first quarter. Teacher Retirement System of Texas now owns 39,028 shares of the real estate investment trust's stock worth $1,528,000 after buying an additional 25,945 shares during the period. GAMMA Investing LLC boosted its position in Rexford Industrial Realty by 211.2% during the 1st quarter. GAMMA Investing LLC now owns 1,441 shares of the real estate investment trust's stock worth $56,000 after acquiring an additional 978 shares during the period. M&T Bank Corp grew its stake in Rexford Industrial Realty by 1.2% during the 1st quarter. M&T Bank Corp now owns 26,857 shares of the real estate investment trust's stock valued at $1,052,000 after acquiring an additional 317 shares in the last quarter. Bessemer Group Inc. grew its stake in Rexford Industrial Realty by 118.4% during the 1st quarter. Bessemer Group Inc. now owns 747 shares of the real estate investment trust's stock valued at $29,000 after acquiring an additional 405 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. increased its holdings in shares of Rexford Industrial Realty by 40.5% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 36,792 shares of the real estate investment trust's stock valued at $1,440,000 after purchasing an additional 10,603 shares during the period. 99.52% of the stock is owned by institutional investors and hedge funds.

Rexford Industrial Realty Stock Performance

REXR traded down $0.11 on Wednesday, hitting $39.34. The company had a trading volume of 2,171,680 shares, compared to its average volume of 2,596,032. Rexford Industrial Realty, Inc. has a 1-year low of $29.68 and a 1-year high of $52.61. The company has a debt-to-equity ratio of 0.37, a current ratio of 5.59 and a quick ratio of 5.59. The company's fifty day moving average price is $36.90 and its 200 day moving average price is $36.94. The stock has a market cap of $9.31 billion, a price-to-earnings ratio of 29.14, a price-to-earnings-growth ratio of 4.19 and a beta of 1.10.

Rexford Industrial Realty (NYSE:REXR - Get Free Report) last released its quarterly earnings results on Wednesday, July 16th. The real estate investment trust reported $0.59 EPS for the quarter, beating analysts' consensus estimates 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 last year, the firm posted $0.60 earnings per share. Rexford Industrial Realty has set its FY 2025 guidance at 2.370-2.410 EPS. Equities analysts predict that Rexford Industrial Realty, Inc. will post 2.38 earnings per share for the current fiscal year.

Rexford Industrial Realty Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th will be given a $0.43 dividend. This represents a $1.72 annualized dividend and a dividend yield of 4.4%. The ex-dividend date of this dividend is Tuesday, September 30th. Rexford Industrial Realty's dividend payout ratio (DPR) is currently 127.41%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on REXR. Robert W. Baird set a $43.00 price target on shares of Rexford Industrial Realty in a report on Tuesday, May 6th. Evercore ISI lowered shares of 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 note on Friday, July 18th. Truist Financial boosted their price target on shares of Rexford Industrial Realty from $37.00 to $42.00 and gave the company a "buy" rating in a report on Wednesday. Barclays dropped their price target on shares of Rexford Industrial Realty from $38.00 to $35.00 and set an "underweight" rating on the stock in a research note on Wednesday, April 30th. Finally, Wells Fargo & Company reduced their price objective on 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 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. Based on data from MarketBeat, Rexford Industrial Realty presently has an average rating of "Hold" and a consensus target price of $40.27.

Insider Activity at Rexford Industrial Realty

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 stock was 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 Securities & Exchange Commission, which is accessible through this link. Insiders own 1.20% of the company's stock.

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.