State of New Jersey Common Pension Fund D Trims Stock Position in Rexford Industrial Realty, Inc. (NYSE:REXR)

State of New Jersey Common Pension Fund D lessened its stake in Rexford Industrial Realty, Inc. (NYSE:REXR) by 1.4% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 339,886 shares of the real estate investment trust’s stock after selling 5,000 shares during the quarter. State of New Jersey Common Pension Fund D owned 0.15% of Rexford Industrial Realty worth $13,140,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. UMB Bank n.a. grew its position in Rexford Industrial Realty by 38.9% during the fourth quarter. UMB Bank n.a. now owns 999 shares of the real estate investment trust’s stock valued at $39,000 after buying an additional 280 shares during the period. Archer Investment Corp grew its position in shares of Rexford Industrial Realty by 61.5% during the 3rd quarter. Archer Investment Corp now owns 2,100 shares of the real estate investment trust’s stock valued at $106,000 after acquiring an additional 800 shares during the period. Exchange Traded Concepts LLC increased its stake in shares of Rexford Industrial Realty by 13.2% in the 4th quarter. Exchange Traded Concepts LLC now owns 3,172 shares of the real estate investment trust’s stock valued at $123,000 after purchasing an additional 371 shares in the last quarter. Catalyst Capital Advisors LLC acquired a new position in Rexford Industrial Realty in the 3rd quarter worth about $129,000. Finally, International Assets Investment Management LLC boosted its position in Rexford Industrial Realty by 4,835.8% during the third quarter. International Assets Investment Management LLC now owns 2,616 shares of the real estate investment trust’s stock worth $132,000 after purchasing an additional 2,563 shares in the last quarter. Institutional investors and hedge funds own 99.52% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on REXR. Scotiabank cut Rexford Industrial Realty from a “sector outperform” rating to a “sector perform” rating and cut their price objective for the company from $55.00 to $48.00 in a research report on Friday, October 25th. Deutsche Bank Aktiengesellschaft started coverage on shares of Rexford Industrial Realty in a research report on Tuesday, January 14th. They set a “hold” rating and a $40.00 price objective for the company. Mizuho decreased their price objective on shares of Rexford Industrial Realty from $46.00 to $45.00 and set a “neutral” rating on the stock in a report on Wednesday, January 8th. Barclays cut their target price on shares of Rexford Industrial Realty from $44.00 to $41.00 and set an “underweight” rating for the company in a research note on Monday, January 13th. Finally, StockNews.com lowered shares of Rexford Industrial Realty from a “hold” rating to a “sell” rating in a research note on Monday, October 21st. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $48.75.

Rexford Industrial Realty Price Performance

NYSE:REXR opened at $40.39 on Tuesday. Rexford Industrial Realty, Inc. has a one year low of $36.92 and a one year high of $53.88. The stock has a market cap of $8.98 billion, a PE ratio of 33.38, a P/E/G ratio of 2.28 and a beta of 0.95. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.20 and a current ratio of 1.30. The stock has a 50 day moving average price of $39.58 and a 200 day moving average price of $44.41.

Rexford Industrial Realty (NYSE:REXR) last issued its earnings results on Wednesday, February 5th. The real estate investment trust reported $0.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.27 by $0.31. Rexford Industrial Realty had a return on equity of 3.26% and a net margin of 29.10%. Equities research analysts expect that Rexford Industrial Realty, Inc. will post 2.39 EPS for the current fiscal year.

Rexford Industrial Realty Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be issued a $0.43 dividend. This represents a $1.72 annualized dividend and a yield of 4.26%. This is a positive change from Rexford Industrial Realty’s previous quarterly dividend of $0.42. The ex-dividend date is Monday, March 31st. Rexford Industrial Realty’s payout ratio is presently 138.02%.

Rexford Industrial Realty Profile

Rexford Industrial Realty, Inc is a self-administered and self-managed real estate investment trust, which engages in owning and operating industrial properties in infill markets. The company was founded by Richard S. Ziman on January 18, 2013 and is headquartered in Los Angeles, CA.