State of Alaska Department of Revenue Increases Stock Position in Rexford Industrial Realty, Inc. (NYSE:REXR)

State of Alaska Department of Revenue grew its position in shares of Rexford Industrial Realty, Inc. (NYSE:REXR) by 0.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 123,265 shares of the real estate investment trust’s stock after purchasing an additional 420 shares during the period. State of Alaska Department of Revenue owned approximately 0.06% of Rexford Industrial Realty worth $6,199,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Azzad Asset Management Inc. ADV grew its holdings in Rexford Industrial Realty by 5.3% during the 1st quarter. Azzad Asset Management Inc. ADV now owns 13,727 shares of the real estate investment trust’s stock valued at $690,000 after buying an additional 685 shares in the last quarter. Naviter Wealth LLC lifted its stake in shares of Rexford Industrial Realty by 53.9% in the 1st quarter. Naviter Wealth LLC now owns 13,932 shares of the real estate investment trust’s stock valued at $707,000 after purchasing an additional 4,879 shares during the last quarter. State of Michigan Retirement System boosted its stake in Rexford Industrial Realty by 2.2% during the first quarter. State of Michigan Retirement System now owns 51,782 shares of the real estate investment trust’s stock worth $2,605,000 after buying an additional 1,100 shares during the period. Vert Asset Management LLC boosted its stake in shares of Rexford Industrial Realty by 10.7% during the 1st quarter. Vert Asset Management LLC now owns 87,783 shares of the real estate investment trust’s stock worth $4,415,000 after purchasing an additional 8,519 shares during the period. Finally, Hazelview Securities Inc. grew its stake in shares of Rexford Industrial Realty by 55.7% during the first quarter. Hazelview Securities Inc. now owns 384,915 shares of the real estate investment trust’s stock valued at $18,799,000 after buying an additional 137,700 shares during the last quarter. 99.52% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts recently commented on the stock. Wedbush initiated 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 target on the stock. Mizuho reduced their price target on shares of Rexford Industrial Realty from $52.00 to $50.00 and set a “neutral” rating for the company in a report on Friday, May 31st. 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. Robert W. Baird decreased their price objective on Rexford Industrial Realty from $57.00 to $49.00 and set a “neutral” rating for the company in a research note on Wednesday, May 1st. Finally, Truist Financial dropped their price objective 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 research analysts have rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, Rexford Industrial Realty currently has an average rating of “Hold” and a consensus target price of $52.44.

Rexford Industrial Realty Price Performance

Shares of NYSE REXR opened at $45.23 on Thursday. Rexford Industrial Realty, Inc. has a fifty-two week low of $41.56 and a fifty-two week high of $58.02. The company has a market cap of $9.85 billion, a PE ratio of 41.50, a P/E/G ratio of 1.81 and a beta of 0.92. The company has a debt-to-equity ratio of 0.41, a quick ratio of 3.21 and a current ratio of 3.21. The business has a 50-day simple moving average of $44.56 and a two-hundred day simple moving average of $49.39.

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

Rexford Industrial Realty Cuts Dividend

The business also recently disclosed 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. This represents a $1.67 dividend on an annualized basis and a dividend yield of 3.69%. The ex-dividend date of this dividend is Friday, June 28th. Rexford Industrial Realty’s dividend payout ratio (DPR) is presently 153.21%.

Rexford Industrial Realty Company 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.