Teachers Retirement System of The State of Kentucky increased its position in shares of Rexford Industrial Realty, Inc. (NYSE:REXR) by 36.7% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 158,441 shares of the real estate investment trust’s stock after buying an additional 42,514 shares during the quarter. Teachers Retirement System of The State of Kentucky owned about 0.12% of Rexford Industrial Realty worth $7,782,000 at the end of the most recent quarter.
Other hedge funds have also recently bought and sold shares of the company. Perigon Wealth Management LLC acquired a new position in Rexford Industrial Realty during the 4th quarter worth approximately $36,000. Advisors Asset Management Inc. acquired a new position in Rexford Industrial Realty during the 3rd quarter worth approximately $137,000. Van ECK Associates Corp raised its stake in Rexford Industrial Realty by 31.3% during the 3rd quarter. Van ECK Associates Corp now owns 3,746 shares of the real estate investment trust’s stock worth $171,000 after buying an additional 894 shares during the period. CIBC Asset Management Inc acquired a new position in Rexford Industrial Realty during the 4th quarter worth approximately $201,000. Finally, Cambridge Investment Research Advisors Inc. acquired a new position in Rexford Industrial Realty during the 4th quarter worth approximately $208,000. 98.73% of the stock is currently owned by institutional investors and hedge funds.
REXR has been the topic of a number of research reports. Zacks Investment Research downgraded Rexford Industrial Realty from a “buy” rating to a “hold” rating in a research note on Tuesday, February 23rd. TheStreet raised Rexford Industrial Realty from a “c+” rating to a “b-” rating in a research note on Friday, March 26th. Two equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $50.50.
Rexford Industrial Realty (NYSE:REXR) last issued its quarterly earnings data on Wednesday, February 10th. The real estate investment trust reported $0.10 EPS for the quarter, missing the consensus estimate of $0.33 by ($0.23). The company had revenue of $88.65 million during the quarter, compared to analysts’ expectations of $88.19 million. Rexford Industrial Realty had a return on equity of 3.14% and a net margin of 26.29%. The business’s revenue for the quarter was up 19.2% compared to the same quarter last year. During the same period last year, the company earned $0.32 earnings per share. As a group, research analysts anticipate that Rexford Industrial Realty, Inc. will post 1.31 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 15th. Stockholders of record on Wednesday, March 31st will be issued a $0.24 dividend. The ex-dividend date is Tuesday, March 30th. This is a positive change from Rexford Industrial Realty’s previous quarterly dividend of $0.22. This represents a $0.96 annualized dividend and a dividend yield of 1.82%. Rexford Industrial Realty’s dividend payout ratio is currently 78.05%.
Rexford Industrial Realty Profile
Rexford Industrial, a real estate investment trust focused on owning and operating industrial properties throughout Southern California infill markets, owns 232 properties with approximately 27.9 million rentable square feet and manages an additional 20 properties with approximately 1.0 million rentable square feet.
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