California State Teachers Retirement System Trims Position in Rexford Industrial Realty Inc (REXR)
California State Teachers Retirement System lowered its holdings in Rexford Industrial Realty Inc (NYSE:REXR) by 3.7% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 112,984 shares of the real estate investment trust’s stock after selling 4,315 shares during the quarter. California State Teachers Retirement System’s holdings in Rexford Industrial Realty were worth $3,234,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also bought and sold shares of REXR. Los Angeles Capital Management & Equity Research Inc. purchased a new position in Rexford Industrial Realty during the 3rd quarter worth $1,105,000. Honeywell International Inc. boosted its holdings in Rexford Industrial Realty by 7.5% during the 3rd quarter. Honeywell International Inc. now owns 53,579 shares of the real estate investment trust’s stock worth $1,533,000 after acquiring an additional 3,739 shares during the last quarter. UBS Asset Management Americas Inc. boosted its holdings in Rexford Industrial Realty by 7.8% during the 2nd quarter. UBS Asset Management Americas Inc. now owns 126,770 shares of the real estate investment trust’s stock worth $3,479,000 after acquiring an additional 9,221 shares during the last quarter. OxFORD Asset Management LLP purchased a new position in Rexford Industrial Realty during the 3rd quarter worth $931,000. Finally, BlackRock Inc. boosted its holdings in Rexford Industrial Realty by 0.6% during the 2nd quarter. BlackRock Inc. now owns 5,869,600 shares of the real estate investment trust’s stock worth $161,061,000 after acquiring an additional 37,038 shares during the last quarter. 99.85% of the stock is owned by institutional investors and hedge funds.
A number of equities analysts have issued reports on the stock. Zacks Investment Research raised shares of Rexford Industrial Realty from a “hold” rating to a “buy” rating and set a $33.00 price objective on the stock in a report on Thursday, January 4th. JPMorgan Chase & Co. downgraded shares of Rexford Industrial Realty from a “neutral” rating to an “underweight” rating and set a $29.00 price objective on the stock. in a report on Friday, December 15th. National Securities reaffirmed a “buy” rating and set a $34.00 price objective on shares of Rexford Industrial Realty in a report on Monday, November 27th. B. Riley reaffirmed a “neutral” rating on shares of Rexford Industrial Realty in a report on Tuesday, November 7th. Finally, BidaskClub raised shares of Rexford Industrial Realty from a “hold” rating to a “buy” rating in a report on Saturday, November 4th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $30.78.
Shares of Rexford Industrial Realty Inc (NYSE REXR) opened at $29.05 on Wednesday. The company has a market capitalization of $2,260.00, a price-to-earnings ratio of 66.02, a PEG ratio of 3.45 and a beta of 0.76. Rexford Industrial Realty Inc has a 52 week low of $21.34 and a 52 week high of $31.71. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.72 and a current ratio of 0.72.
Rexford Industrial Realty (NYSE:REXR) last released its earnings results on Tuesday, October 31st. The real estate investment trust reported $0.25 EPS for the quarter, topping the Zacks’ consensus estimate of $0.24 by $0.01. The company had revenue of $43.30 million for the quarter, compared to analysts’ expectations of $41.77 million. Rexford Industrial Realty had a return on equity of 3.39% and a net margin of 23.50%. The business’s revenue for the quarter was up 30.0% compared to the same quarter last year. During the same period in the previous year, the business posted $0.22 EPS. research analysts predict that Rexford Industrial Realty Inc will post 0.96 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, January 15th. Stockholders of record on Friday, December 29th will be paid a dividend of $0.145 per share. This represents a $0.58 dividend on an annualized basis and a dividend yield of 2.00%. The ex-dividend date of this dividend is Thursday, December 28th. Rexford Industrial Realty’s payout ratio is 131.82%.
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Rexford Industrial Realty Company Profile
Rexford Industrial Realty, Inc is a self-administered and self-managed full-service real estate investment trust (REIT). The Company is focused on owning, operating and acquiring industrial properties in Southern California infill markets. Rexford Industrial Realty, L.P. is the operating partnership of the Company.
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