State of New Jersey Common Pension Fund D Has $13.02 Million Holdings in Rexford Industrial Realty, Inc. (NYSE:REXR)

State of New Jersey Common Pension Fund D cut its holdings in shares of Rexford Industrial Realty, Inc. (NYSE:REXR) by 2.1% during the 1st quarter, Holdings Channel reports. The firm owned 332,671 shares of the real estate investment trust’s stock after selling 7,215 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Rexford Industrial Realty were worth $13,024,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently made changes to their positions in REXR. Barclays PLC increased its holdings in shares of Rexford Industrial Realty by 68.0% during the fourth quarter. Barclays PLC now owns 280,952 shares of the real estate investment trust’s stock worth $10,861,000 after purchasing an additional 113,756 shares during the period. CANADA LIFE ASSURANCE Co increased its holdings in shares of Rexford Industrial Realty by 5.2% during the fourth quarter. CANADA LIFE ASSURANCE Co now owns 444,523 shares of the real estate investment trust’s stock worth $17,176,000 after purchasing an additional 21,808 shares during the period. GeoWealth Management LLC increased its holdings in shares of Rexford Industrial Realty by 17.5% during the fourth quarter. GeoWealth Management LLC now owns 14,072 shares of the real estate investment trust’s stock worth $544,000 after purchasing an additional 2,097 shares during the period. First Trust Advisors LP increased its holdings in shares of Rexford Industrial Realty by 104.9% during the fourth quarter. First Trust Advisors LP now owns 113,262 shares of the real estate investment trust’s stock worth $4,379,000 after purchasing an additional 57,986 shares during the period. Finally, Ossiam increased its holdings in shares of Rexford Industrial Realty by 44.3% during the fourth quarter. Ossiam now owns 40,560 shares of the real estate investment trust’s stock worth $1,568,000 after purchasing an additional 12,454 shares during the period. 99.52% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

REXR has been the topic of several recent research reports. Barclays lowered their target price on shares of Rexford Industrial Realty from $38.00 to $35.00 and set an “underweight” rating on the stock in a report on Wednesday, April 30th. Wells Fargo & Company decreased their price objective on shares of Rexford Industrial Realty from $45.00 to $39.00 and set an “overweight” rating on the stock in a research note on Monday, May 19th. JPMorgan Chase & Co. decreased their price objective on shares of Rexford Industrial Realty from $44.00 to $37.00 and set a “neutral” rating on the stock in a research note on Thursday, April 24th. Evercore ISI cut shares of Rexford Industrial Realty from an “outperform” rating to an “in-line” rating and decreased their price objective for the company from $39.00 to $38.00 in a research note on Friday, July 18th. Finally, Truist Financial decreased their price objective on shares of Rexford Industrial Realty from $44.00 to $37.00 and set a “buy” rating on the stock in a research note on Thursday, May 1st. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Rexford Industrial Realty has a consensus rating of “Hold” and a consensus price target of $39.82.

Rexford Industrial Realty Stock Performance

NYSE REXR opened at $38.19 on Friday. The firm’s fifty day moving average price is $36.83 and its two-hundred day moving average price is $36.97. The stock has a market cap of $9.04 billion, a PE ratio of 28.29, a PEG ratio of 4.23 and a beta of 1.10. Rexford Industrial Realty, Inc. has a fifty-two week low of $29.68 and a fifty-two week high of $52.61. The company has a debt-to-equity ratio of 0.37, a quick ratio of 5.59 and a current ratio of 5.59.

Rexford Industrial Realty (NYSE:REXR) last posted its earnings results on Wednesday, July 16th. The real estate investment trust reported $0.59 earnings per share for the quarter, topping analysts’ consensus estimates of $0.58 by $0.01. The firm had revenue of $241.57 million for the quarter, compared to analysts’ expectations of $251.72 million. Rexford Industrial Realty had a net margin of 32.04% and a return on equity of 3.62%. The company’s revenue was up 5.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.60 earnings per share. On average, equities analysts expect that Rexford Industrial Realty, Inc. will post 2.38 EPS for the current fiscal year.

Rexford Industrial Realty Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th will be issued a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a dividend yield of 4.5%. The ex-dividend date is Tuesday, September 30th. Rexford Industrial Realty’s payout ratio is 127.41%.

Insider Activity at Rexford Industrial Realty

In other news, General Counsel David E. Lanzer sold 26,449 shares of Rexford Industrial Realty stock in a transaction on Monday, July 21st. The shares were sold at an average price of $36.87, for a total transaction of $975,174.63. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 1.20% of the company’s stock.

About Rexford Industrial Realty

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.