Rexford Industrial Realty, Inc. (NYSE:REXR) Shares Purchased by Arizona State Retirement System

Arizona State Retirement System raised its position in Rexford Industrial Realty, Inc. (NYSE:REXR) by 5.1% during the second quarter, Holdings Channel reports. The firm owned 60,979 shares of the real estate investment trust’s stock after buying an additional 2,965 shares during the quarter. Arizona State Retirement System’s holdings in Rexford Industrial Realty were worth $2,719,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Los Angeles Capital Management LLC raised its holdings in shares of Rexford Industrial Realty by 2.3% in the 1st quarter. Los Angeles Capital Management LLC now owns 9,165 shares of the real estate investment trust’s stock valued at $461,000 after buying an additional 210 shares during the period. Securian Asset Management Inc. increased its stake in Rexford Industrial Realty by 1.9% during the fourth quarter. Securian Asset Management Inc. now owns 17,815 shares of the real estate investment trust’s stock worth $999,000 after purchasing an additional 330 shares during the period. Inspire Investing LLC lifted its position in shares of Rexford Industrial Realty by 4.9% during the first quarter. Inspire Investing LLC now owns 7,126 shares of the real estate investment trust’s stock worth $358,000 after purchasing an additional 331 shares in the last quarter. Hennion & Walsh Asset Management Inc. boosted its stake in shares of Rexford Industrial Realty by 2.4% in the second quarter. Hennion & Walsh Asset Management Inc. now owns 14,641 shares of the real estate investment trust’s stock valued at $653,000 after purchasing an additional 337 shares during the period. Finally, Victory Capital Management Inc. grew its holdings in shares of Rexford Industrial Realty by 0.8% in the second quarter. Victory Capital Management Inc. now owns 46,066 shares of the real estate investment trust’s stock valued at $2,054,000 after purchasing an additional 345 shares in the last quarter. 99.52% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CEO Howard Schwimmer sold 30,358 shares of Rexford Industrial Realty stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $48.86, for a total transaction of $1,483,291.88. Following the sale, the chief executive officer now owns 50,673 shares in the company, valued at $2,475,882.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.20% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have issued reports on REXR. Evercore ISI increased their target price on shares of Rexford Industrial Realty from $55.00 to $57.00 and gave the stock an “outperform” rating in a report on Wednesday, August 28th. Truist Financial lifted their target price on Rexford Industrial Realty from $50.00 to $54.00 and gave the company a “buy” rating in a report on Tuesday, July 30th. Wells Fargo & Company cut their price target on Rexford Industrial Realty from $66.00 to $61.00 and set an “overweight” rating on the stock in a report on Wednesday, August 28th. StockNews.com upgraded Rexford Industrial Realty from a “sell” rating to a “hold” rating in a research note on Monday, July 22nd. Finally, Scotiabank upped their target price on shares of Rexford Industrial Realty from $51.00 to $55.00 and gave the stock a “sector outperform” rating in a research note on Monday, August 26th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $54.00.

Rexford Industrial Realty Price Performance

Shares of NYSE REXR opened at $49.89 on Tuesday. The stock’s 50-day simple moving average is $49.21 and its 200-day simple moving average is $47.71. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.73 and a current ratio of 1.73. The firm has a market capitalization of $10.95 billion, a PE ratio of 45.77, a price-to-earnings-growth ratio of 2.02 and a beta of 0.93. Rexford Industrial Realty, Inc. has a fifty-two week low of $41.56 and a fifty-two week high of $58.02.

Rexford Industrial Realty (NYSE:REXR) last released its quarterly earnings data on Wednesday, July 17th. The real estate investment trust reported $0.37 earnings per share for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.21). Rexford Industrial Realty had a return on equity of 3.31% and a net margin of 30.71%. The company had revenue of $237.60 million for the quarter, compared to analyst estimates of $227.70 million. During the same period in the previous year, the business posted $0.54 EPS. The firm’s revenue for the quarter was up 21.3% compared to the same quarter last year. As a group, equities research analysts forecast that Rexford Industrial Realty, Inc. will post 2.35 EPS for the current fiscal year.

Rexford Industrial Realty Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 30th will be given a $0.4175 dividend. The ex-dividend date is Monday, September 30th. This is a boost from Rexford Industrial Realty’s previous quarterly dividend of $0.42. This represents a $1.67 dividend on an annualized basis and a yield of 3.35%. Rexford Industrial Realty’s payout ratio is 153.21%.

Rexford Industrial Realty 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.