Rexford Industrial Realty, Inc. (NYSE:REXR) Shares Acquired by Teachers Retirement System of The State of Kentucky

Teachers Retirement System of The State of Kentucky raised its holdings in shares of Rexford Industrial Realty, Inc. (NYSE:REXR) by 11.3% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 70,133 shares of the real estate investment trust’s stock after acquiring an additional 7,100 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in Rexford Industrial Realty were worth $3,527,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Tower Research Capital LLC TRC grew its holdings in shares of Rexford Industrial Realty by 116.1% during the fourth quarter. Tower Research Capital LLC TRC now owns 46,150 shares of the real estate investment trust’s stock valued at $2,589,000 after buying an additional 24,793 shares in the last quarter. M&G Plc acquired a new position in shares of Rexford Industrial Realty during the 1st quarter worth about $33,644,000. First Financial Bank Trust Division acquired a new position in shares of Rexford Industrial Realty during the 1st quarter worth about $2,551,000. GSI Capital Advisors LLC lifted its position in shares of Rexford Industrial Realty by 45.0% during the 4th quarter. GSI Capital Advisors LLC now owns 191,054 shares of the real estate investment trust’s stock worth $10,718,000 after purchasing an additional 59,320 shares during the last quarter. Finally, Louisiana State Employees Retirement System bought a new stake in shares of Rexford Industrial Realty in the 4th quarter worth approximately $3,327,000. Institutional investors own 99.52% of the company’s stock.

Rexford Industrial Realty Stock Performance

NYSE REXR traded down $1.30 during trading on Friday, reaching $49.17. 1,496,567 shares of the company’s stock were exchanged, compared to its average volume of 1,896,039. Rexford Industrial Realty, Inc. has a fifty-two week low of $41.56 and a fifty-two week high of $58.02. The business has a 50 day moving average price of $46.29 and a 200-day moving average price of $48.31. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.73 and a quick ratio of 1.73. The stock has a market capitalization of $10.79 billion, a P/E ratio of 45.11, a PEG ratio of 2.07 and a beta of 0.92.

Rexford Industrial Realty (NYSE:REXR) last posted its earnings results on Wednesday, July 17th. The real estate investment trust reported $0.37 EPS for the quarter, missing the consensus estimate of $0.58 by ($0.21). The firm had revenue of $237.60 million during the quarter, compared to analyst estimates of $227.70 million. Rexford Industrial Realty had a net margin of 30.71% and a return on equity of 3.31%. Rexford Industrial Realty’s revenue for the quarter was up 21.3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.54 EPS. Sell-side analysts forecast that Rexford Industrial Realty, Inc. will post 2.35 earnings per share 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 paid a $0.4175 dividend. This is a boost from Rexford Industrial Realty’s previous quarterly dividend of $0.42. This represents a $1.67 annualized dividend and a dividend yield of 3.40%. The ex-dividend date is Monday, September 30th. Rexford Industrial Realty’s payout ratio is 153.21%.

Insiders Place Their Bets

In other Rexford Industrial Realty news, CEO Howard Schwimmer sold 30,358 shares of the company’s stock in a transaction on 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 completion of the sale, the chief executive officer now directly owns 50,673 shares in the company, valued at $2,475,882.78. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.20% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently commented on REXR shares. Robert W. Baird cut their target price on Rexford Industrial Realty from $57.00 to $49.00 and set a “neutral” rating for the company in a research report on Wednesday, May 1st. Evercore ISI began coverage on Rexford Industrial Realty in a report on Wednesday, July 10th. They set an “outperform” rating and a $54.00 target price on the stock. StockNews.com upgraded Rexford Industrial Realty from a “sell” rating to a “hold” rating in a report on Monday, July 22nd. Scotiabank cut their price target on Rexford Industrial Realty from $55.00 to $51.00 and set a “sector outperform” rating on the stock in a report on Thursday, May 16th. Finally, Wedbush began coverage on Rexford Industrial Realty in a research report on Monday, April 22nd. They issued a “neutral” rating and a $45.00 target price on the stock. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Rexford Industrial Realty presently has an average rating of “Hold” and a consensus target price of $52.70.

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.