Teacher Retirement System of Texas Grows Position in Rexford Industrial Realty, Inc. (NYSE:REXR)

Teacher Retirement System of Texas lifted its stake in Rexford Industrial Realty, Inc. (NYSE:REXR - Free Report) by 198.3% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 39,028 shares of the real estate investment trust's stock after purchasing an additional 25,945 shares during the quarter. Teacher Retirement System of Texas' holdings in Rexford Industrial Realty were worth $1,528,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Proficio Capital Partners LLC acquired a new stake in Rexford Industrial Realty in the 4th quarter valued at $417,000. Raymond James Financial Inc. acquired a new stake in shares of Rexford Industrial Realty in the fourth quarter valued at about $11,830,000. Amundi grew its position in shares of Rexford Industrial Realty by 0.8% in the fourth quarter. Amundi now owns 119,708 shares of the real estate investment trust's stock valued at $4,579,000 after purchasing an additional 956 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Rexford Industrial Realty by 50.3% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 139,566 shares of the real estate investment trust's stock worth $5,396,000 after purchasing an additional 46,703 shares in the last quarter. Finally, EverSource Wealth Advisors LLC raised its position in shares of Rexford Industrial Realty by 441.2% during the 4th quarter. EverSource Wealth Advisors LLC now owns 5,017 shares of the real estate investment trust's stock worth $194,000 after purchasing an additional 4,090 shares during the last quarter. 99.52% of the stock is owned by hedge funds and other institutional investors.

Rexford Industrial Realty Stock Down 1.5%

Rexford Industrial Realty stock traded down $0.54 during midday trading on Tuesday, reaching $36.53. The company's stock had a trading volume of 1,429,336 shares, compared to its average volume of 2,189,980. The company has a market cap of $8.65 billion, a P/E ratio of 29.48, a P/E/G ratio of 3.40 and a beta of 1.13. The company has a quick ratio of 4.90, a current ratio of 4.90 and a debt-to-equity ratio of 0.37. The business has a 50-day simple moving average of $35.86 and a 200-day simple moving average of $37.34. Rexford Industrial Realty, Inc. has a fifty-two week low of $29.68 and a fifty-two week high of $52.61.

Rexford Industrial Realty (NYSE:REXR - Get Free Report) last announced its quarterly earnings results on Wednesday, April 16th. The real estate investment trust reported $0.62 EPS for the quarter, beating the consensus estimate of $0.57 by $0.05. Rexford Industrial Realty had a net margin of 28.96% and a return on equity of 3.31%. The company had revenue of $248.82 million for the quarter, compared to analyst estimates of $246.74 million. On average, research analysts expect 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 declared a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Monday, June 30th will be paid a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a yield of 4.71%. The ex-dividend date is Monday, June 30th. Rexford Industrial Realty's dividend payout ratio is currently 138.71%.

Analysts Set New Price Targets

A number of brokerages have recently commented on REXR. Truist Financial reduced their target price 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. Barclays lowered their target price on Rexford Industrial Realty from $38.00 to $35.00 and set an "underweight" rating on the stock in a report on Wednesday, April 30th. Industrial Alliance Securities set a $38.00 price target on Rexford Industrial Realty in a report on Tuesday, March 25th. Robert W. Baird set a $43.00 price objective on Rexford Industrial Realty in a research note on Tuesday, May 6th. Finally, Scotiabank cut their target price on Rexford Industrial Realty from $39.00 to $37.00 and set a "sector perform" rating for the company in a research note on Monday, May 12th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, Rexford Industrial Realty has a consensus rating of "Hold" and an average price target of $40.00.

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.