Retirement Systems of Alabama Acquires 6,621 Shares of Rexford Industrial Realty, Inc. (NYSE:REXR)

Retirement Systems of Alabama grew its holdings in Rexford Industrial Realty, Inc. (NYSE:REXR) by 1.4% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 468,787 shares of the real estate investment trust’s stock after purchasing an additional 6,621 shares during the quarter. Retirement Systems of Alabama owned about 0.22% of Rexford Industrial Realty worth $26,299,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in the business. Envestnet Asset Management Inc. raised its holdings in Rexford Industrial Realty by 139.5% in the 3rd quarter. Envestnet Asset Management Inc. now owns 232,848 shares of the real estate investment trust’s stock valued at $11,491,000 after acquiring an additional 135,627 shares in the last quarter. Pacer Advisors Inc. increased its stake in Rexford Industrial Realty by 12.8% in the fourth quarter. Pacer Advisors Inc. now owns 207,609 shares of the real estate investment trust’s stock valued at $11,647,000 after acquiring an additional 23,510 shares during the period. Louisiana State Employees Retirement System bought a new position in Rexford Industrial Realty during the fourth quarter worth about $3,327,000. Daiwa Securities Group Inc. lifted its stake in Rexford Industrial Realty by 1.5% during the fourth quarter. Daiwa Securities Group Inc. now owns 79,851 shares of the real estate investment trust’s stock worth $4,480,000 after purchasing an additional 1,171 shares during the period. Finally, The Manufacturers Life Insurance Company grew its stake in shares of Rexford Industrial Realty by 6.8% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 314,170 shares of the real estate investment trust’s stock valued at $15,506,000 after purchasing an additional 19,981 shares during the period. Institutional investors and hedge funds own 99.52% of the company’s stock.

Rexford Industrial Realty Price Performance

Shares of NYSE REXR opened at $43.40 on Tuesday. The company has a fifty day moving average price of $49.11 and a 200 day moving average price of $50.40. The firm has a market cap of $9.45 billion, a PE ratio of 39.82, a PEG ratio of 1.90 and a beta of 0.86. The company has a current ratio of 3.21, a quick ratio of 3.21 and a debt-to-equity ratio of 0.41. Rexford Industrial Realty, Inc. has a 1-year low of $41.56 and a 1-year high of $58.02.

Rexford Industrial Realty (NYSE:REXR) last posted its quarterly earnings data on Thursday, April 18th. The real estate investment trust reported $0.27 earnings per share for the quarter, missing the consensus estimate of $0.57 by ($0.30). The firm had revenue of $214.10 million for the quarter, compared to analyst estimates of $207.39 million. Rexford Industrial Realty had a return on equity of 3.04% and a net margin of 28.84%. The firm’s quarterly revenue was up 15.0% on a year-over-year basis. During the same period in the prior year, the company earned $0.52 earnings per share. Research analysts predict that Rexford Industrial Realty, Inc. will post 2.33 earnings per share for the current fiscal year.

Rexford Industrial Realty Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Friday, June 28th will be issued a dividend of $0.417 per share. This represents a $1.67 dividend on an annualized basis and a yield of 3.84%. The ex-dividend date of this dividend is Friday, June 28th. Rexford Industrial Realty’s payout ratio is currently 153.21%.

Insider Activity

In other Rexford Industrial Realty news, General Counsel David E. Lanzer sold 18,113 shares of the firm’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $52.69, for a total transaction of $954,373.97. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 1.10% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on REXR shares. Robert W. Baird restated a “neutral” rating and issued a $61.00 target price (up previously from $53.00) on shares of Rexford Industrial Realty in a research note on Friday, January 5th. JPMorgan Chase & Co. lowered shares of Rexford Industrial Realty from an “overweight” rating to a “neutral” rating and set a $55.00 price objective for the company. in a report on Wednesday, February 7th. TheStreet upgraded Rexford Industrial Realty from a “c+” rating to a “b-” rating in a research report on Thursday, February 1st. Wedbush assumed coverage on Rexford Industrial Realty in a research report on Monday, April 22nd. They issued a “neutral” rating and a $45.00 price objective for the company. Finally, Truist Financial decreased their target price on Rexford Industrial Realty from $57.00 to $53.00 and set a “buy” rating on the stock in a report on Tuesday, April 16th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, Rexford Industrial Realty currently has an average rating of “Hold” and a consensus target price of $54.73.

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.