New York State Common Retirement Fund boosted its stake in Rexford Industrial Realty Inc (NYSE:REXR) by 6.6% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 107,466 shares of the real estate investment trust’s stock after purchasing an additional 6,700 shares during the quarter. New York State Common Retirement Fund owned about 0.13% of Rexford Industrial Realty worth $3,094,000 as of its most recent SEC filing.
A number of other large investors also recently bought and sold shares of REXR. Jefferies Group LLC bought a new position in shares of Rexford Industrial Realty in the fourth quarter valued at $222,000. Eaton Vance Management bought a new position in shares of Rexford Industrial Realty in the fourth quarter valued at $229,000. Victory Capital Management Inc. lifted its stake in shares of Rexford Industrial Realty by 128.1% in the first quarter. Victory Capital Management Inc. now owns 8,539 shares of the real estate investment trust’s stock valued at $246,000 after buying an additional 4,796 shares in the last quarter. Daiwa Securities Group Inc. lifted its stake in shares of Rexford Industrial Realty by 19.0% in the first quarter. Daiwa Securities Group Inc. now owns 10,000 shares of the real estate investment trust’s stock valued at $288,000 after buying an additional 1,600 shares in the last quarter. Finally, Newport Wealth Strategies Inc. bought a new position in shares of Rexford Industrial Realty in the fourth quarter valued at $299,000.
A number of research analysts have weighed in on the stock. Stifel Nicolaus raised their price objective on shares of Rexford Industrial Realty from $30.00 to $34.00 and gave the company a “buy” rating in a research note on Friday, May 4th. Zacks Investment Research lowered shares of Rexford Industrial Realty from a “hold” rating to a “sell” rating in a research note on Wednesday, May 2nd. DA Davidson raised their price objective on shares of Rexford Industrial Realty from $34.00 to $40.00 and gave the company a “buy” rating in a research note on Wednesday, May 2nd. Finally, National Securities reaffirmed a “buy” rating and issued a $34.00 price objective on shares of Rexford Industrial Realty in a research note on Tuesday, February 27th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the company’s stock. Rexford Industrial Realty has a consensus rating of “Hold” and an average target price of $32.33.
Rexford Industrial Realty opened at $31.26 on Friday, according to MarketBeat Ratings. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.08 and a current ratio of 1.08. Rexford Industrial Realty Inc has a fifty-two week low of $26.32 and a fifty-two week high of $32.91. The stock has a market cap of $2.53 billion, a P/E ratio of 30.93, a PEG ratio of 4.65 and a beta of 0.73.
Rexford Industrial Realty (NYSE:REXR) last released its quarterly earnings results on Tuesday, May 1st. The real estate investment trust reported $0.15 earnings per share for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.10). Rexford Industrial Realty had a net margin of 28.58% and a return on equity of 4.29%. The firm had revenue of $48.54 million for the quarter, compared to the consensus estimate of $46.04 million. During the same period in the previous year, the business earned $0.23 earnings per share. The firm’s revenue for the quarter was up 37.3% on a year-over-year basis. equities research analysts predict that Rexford Industrial Realty Inc will post 1.06 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, July 16th. Investors of record on Friday, June 29th will be given a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 2.05%. The ex-dividend date is Thursday, June 28th. Rexford Industrial Realty’s payout ratio is currently 66.67%.
In related news, CFO Adeel Khan sold 17,599 shares of the firm’s stock in a transaction dated Friday, May 11th. The shares were sold at an average price of $32.36, for a total transaction of $569,503.64. Following the transaction, the chief financial officer now directly owns 9,053 shares of the company’s stock, valued at $292,955.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.80% of the stock is owned by company insiders.
About Rexford Industrial Realty
Rexford Industrial is a real estate investment trust focused on owning and operating industrial properties in Southern California infill markets. The Company owns 150 properties with approximately 18.5 million rentable square feet and manages an additional 19 properties with approximately 1.2 million rentable square feet.
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