Maryland State Retirement & Pension System Buys 908 Shares of Rexford Industrial Realty, Inc. (NYSE:REXR)

Maryland State Retirement & Pension System raised its stake in Rexford Industrial Realty, Inc. (NYSE:REXR) by 5.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 16,370 shares of the real estate investment trust’s stock after acquiring an additional 908 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Rexford Industrial Realty were worth $918,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of REXR. GAMMA Investing LLC bought a new position in shares of Rexford Industrial Realty during the fourth quarter worth approximately $41,000. Fifth Third Bancorp increased its position in Rexford Industrial Realty by 58.2% during the 3rd quarter. Fifth Third Bancorp now owns 1,117 shares of the real estate investment trust’s stock worth $55,000 after buying an additional 411 shares during the period. Ninepoint Partners LP bought a new position in Rexford Industrial Realty during the 3rd quarter worth $108,000. Signaturefd LLC lifted its holdings in shares of Rexford Industrial Realty by 45.9% during the third quarter. Signaturefd LLC now owns 2,270 shares of the real estate investment trust’s stock worth $112,000 after buying an additional 714 shares in the last quarter. Finally, International Assets Investment Management LLC boosted its position in shares of Rexford Industrial Realty by 5,510.9% in the fourth quarter. International Assets Investment Management LLC now owns 3,086 shares of the real estate investment trust’s stock valued at $173,000 after acquiring an additional 3,031 shares during the period. 99.52% of the stock is currently owned by institutional investors and hedge funds.

Rexford Industrial Realty Stock Performance

Rexford Industrial Realty stock opened at $45.28 on Friday. The company has a quick ratio of 3.21, a current ratio of 3.21 and a debt-to-equity ratio of 0.41. The stock has a market cap of $9.86 billion, a PE ratio of 41.54, a P/E/G ratio of 1.94 and a beta of 0.89. Rexford Industrial Realty, Inc. has a 12-month low of $41.56 and a 12-month high of $58.02. The business’s 50-day moving average price is $47.90 and its two-hundred day moving average price is $50.19.

Rexford Industrial Realty (NYSE:REXR) last announced its quarterly earnings results on Thursday, April 18th. The real estate investment trust reported $0.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.57 by ($0.30). The company had revenue of $214.10 million for the quarter, compared to the consensus estimate of $207.39 million. Rexford Industrial Realty had a net margin of 28.84% and a return on equity of 3.04%. The company’s revenue for the quarter was up 15.0% compared to the same quarter last year. During the same period last year, the firm posted $0.52 earnings per share. As a group, analysts expect that Rexford Industrial Realty, Inc. will post 2.34 earnings per share for the current fiscal year.

Rexford Industrial Realty Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Friday, June 28th will be issued a dividend of $0.417 per share. The ex-dividend date is Friday, June 28th. This represents a $1.67 annualized dividend and a dividend yield of 3.68%. Rexford Industrial Realty’s dividend payout ratio (DPR) is presently 153.21%.

Insider Activity

In related news, General Counsel David E. Lanzer sold 18,113 shares of the business’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 sale was disclosed in a document filed with the SEC, which is accessible through this link. 1.20% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts have weighed in on the stock. Wedbush began coverage on shares of Rexford Industrial Realty in a research note on Monday, April 22nd. They issued a “neutral” rating and a $45.00 price objective for the company. JPMorgan Chase & Co. cut Rexford Industrial Realty from an “overweight” rating to a “neutral” rating and set a $55.00 price target for the company. in a research note on Wednesday, February 7th. Barclays raised their price objective on Rexford Industrial Realty from $45.00 to $46.00 and gave the stock an “underweight” rating in a research note on Tuesday, April 23rd. TheStreet upgraded Rexford Industrial Realty from a “c+” rating to a “b-” rating in a research report on Thursday, February 1st. Finally, Truist Financial decreased their price target on Rexford Industrial Realty from $53.00 to $50.00 and set a “buy” rating on the stock in a research report on Thursday, May 2nd. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the company. According to MarketBeat, Rexford Industrial Realty currently has a consensus rating of “Hold” and an average target price of $53.36.

About Rexford Industrial Realty

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.