59,300 Shares in Rexford Industrial Realty, Inc. (NYSE:REXR) Bought by Louisiana State Employees Retirement System

Louisiana State Employees Retirement System bought a new stake in Rexford Industrial Realty, Inc. (NYSE:REXR - Free Report) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 59,300 shares of the real estate investment trust's stock, valued at approximately $3,327,000.

Other hedge funds have also modified their holdings of the company. Norges Bank purchased a new stake in shares of Rexford Industrial Realty in the fourth quarter valued at about $283,319,000. Price T Rowe Associates Inc. MD grew its holdings in shares of Rexford Industrial Realty by 64.9% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 10,432,222 shares of the real estate investment trust's stock valued at $570,016,000 after purchasing an additional 4,107,405 shares during the period. Vanguard Group Inc. grew its holdings in shares of Rexford Industrial Realty by 7.5% in the first quarter. Vanguard Group Inc. now owns 22,698,814 shares of the real estate investment trust's stock valued at $1,693,104,000 after purchasing an additional 1,587,612 shares during the period. State Street Corp grew its holdings in shares of Rexford Industrial Realty by 19.0% in the first quarter. State Street Corp now owns 8,626,789 shares of the real estate investment trust's stock valued at $646,126,000 after purchasing an additional 1,375,680 shares during the period. Finally, Deutsche Bank AG grew its holdings in shares of Rexford Industrial Realty by 61.0% in the first quarter. Deutsche Bank AG now owns 2,573,212 shares of the real estate investment trust's stock valued at $153,492,000 after purchasing an additional 974,709 shares during the period. 99.52% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, General Counsel David E. Lanzer sold 18,113 shares of the firm's stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $52.69, for a total transaction of $954,373.97. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.10% of the stock is owned by corporate insiders.

Rexford Industrial Realty Stock Down 3.4 %

REXR stock traded down $1.61 during midday trading on Monday, reaching $45.07. 1,710,387 shares of the company were exchanged, compared to its average volume of 1,793,296. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.35 and a current ratio of 1.35. Rexford Industrial Realty, Inc. has a 1-year low of $41.56 and a 1-year high of $58.02. The stock's 50-day simple moving average is $50.97 and its 200 day simple moving average is $50.77. The company has a market cap of $9.69 billion, a price-to-earnings ratio of 40.24, a price-to-earnings-growth ratio of 2.14 and a beta of 0.86.

Rexford Industrial Realty Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 15th. Shareholders of record on Thursday, March 28th will be issued a dividend of $0.4175 per share. The ex-dividend date of this dividend is Wednesday, March 27th. This represents a $1.67 dividend on an annualized basis and a yield of 3.71%. This is a boost from Rexford Industrial Realty's previous quarterly dividend of $0.38. Rexford Industrial Realty's dividend payout ratio (DPR) is presently 149.11%.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on REXR shares. Barclays started coverage on shares of Rexford Industrial Realty in a research note on Wednesday, March 27th. They set an "underweight" rating and a $45.00 target price for the company. JPMorgan Chase & Co. lowered shares of Rexford Industrial Realty from an "overweight" rating to a "neutral" rating and set a $55.00 target price for the company. in a research note on Wednesday, February 7th. Mizuho reissued a "neutral" rating and set a $52.00 price target on shares of Rexford Industrial Realty in a research report on Tuesday, April 2nd. TheStreet raised shares of Rexford Industrial Realty from a "c+" rating to a "b-" rating in a research report on Thursday, February 1st. Finally, Truist Financial reduced their price target on shares of Rexford Industrial Realty from $61.00 to $57.00 and set a "buy" rating on the stock in a research report on Thursday, February 15th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, Rexford Industrial Realty currently has an average rating of "Hold" and an average price target of $56.00.

Rexford Industrial Realty Company Profile

Rexford Industrial creates value by investing in, operating and redeveloping industrial properties throughout infill Southern California, the world's fourth largest industrial market and consistently the highest-demand with lowest-supply major market in the nation. The Company's highly differentiated strategy enables internal and external growth opportunities through its proprietary value creation and asset management capabilities.