State of Michigan Retirement System Acquires 2,300 Shares of Rexford Industrial Realty, Inc. $REXR

State of Michigan Retirement System boosted its holdings in Rexford Industrial Realty, Inc. (NYSE:REXR) by 4.2% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 56,782 shares of the real estate investment trust’s stock after buying an additional 2,300 shares during the quarter. State of Michigan Retirement System’s holdings in Rexford Industrial Realty were worth $2,020,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Versor Investments LP bought a new position in shares of Rexford Industrial Realty in the second quarter worth about $289,000. Wolverine Asset Management LLC increased its position in Rexford Industrial Realty by 291.4% during the 2nd quarter. Wolverine Asset Management LLC now owns 24,233 shares of the real estate investment trust’s stock worth $862,000 after purchasing an additional 18,042 shares in the last quarter. Amalgamated Bank lifted its stake in Rexford Industrial Realty by 3.4% in the 2nd quarter. Amalgamated Bank now owns 107,315 shares of the real estate investment trust’s stock valued at $3,817,000 after purchasing an additional 3,530 shares during the last quarter. Atria Investments Inc lifted its stake in Rexford Industrial Realty by 131.3% in the 2nd quarter. Atria Investments Inc now owns 15,761 shares of the real estate investment trust’s stock valued at $561,000 after purchasing an additional 8,946 shares during the last quarter. Finally, Retirement Systems of Alabama boosted its position in Rexford Industrial Realty by 2.0% in the second quarter. Retirement Systems of Alabama now owns 607,199 shares of the real estate investment trust’s stock valued at $21,598,000 after buying an additional 11,647 shares in the last quarter. Institutional investors and hedge funds own 99.52% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. Mizuho upped their price target on shares of Rexford Industrial Realty from $37.00 to $40.00 and gave the stock a “neutral” rating in a report on Monday, September 8th. Scotiabank boosted their price objective on Rexford Industrial Realty from $40.00 to $43.00 and gave the stock a “sector perform” rating in a research report on Thursday, September 4th. Evercore ISI upped their target price on Rexford Industrial Realty from $39.00 to $40.00 and gave the stock an “in-line” rating in a report on Monday, September 15th. Wells Fargo & Company lifted their price target on Rexford Industrial Realty from $40.00 to $47.00 and gave the company an “overweight” rating in a research note on Monday, October 27th. Finally, Wall Street Zen cut Rexford Industrial Realty from a “hold” rating to a “sell” rating in a report on Saturday, October 18th. Three analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $42.58.

Rexford Industrial Realty Trading Down 1.1%

Shares of REXR stock opened at $40.86 on Friday. Rexford Industrial Realty, Inc. has a 1-year low of $29.68 and a 1-year high of $44.38. The company has a current ratio of 2.95, a quick ratio of 2.95 and a debt-to-equity ratio of 0.37. The stock has a market cap of $9.51 billion, a price-to-earnings ratio of 28.77, a PEG ratio of 3.05 and a beta of 1.15. The stock has a 50-day moving average of $41.99 and a 200-day moving average of $38.25.

Rexford Industrial Realty (NYSE:REXR) last posted its quarterly earnings data on Wednesday, October 15th. The real estate investment trust reported $0.60 EPS for the quarter, topping analysts’ consensus estimates of $0.59 by $0.01. The company had revenue of $246.76 million for the quarter, compared to analyst estimates of $253.46 million. Rexford Industrial Realty had a return on equity of 3.81% and a net margin of 33.88%.The firm’s quarterly revenue was up 4.7% on a year-over-year basis. During the same period in the previous year, the firm earned $0.59 earnings per share. Rexford Industrial Realty has set its FY 2025 guidance at 2.390-2.410 EPS. On average, equities research analysts forecast that Rexford Industrial Realty, Inc. will post 2.38 earnings per share for the current year.

Rexford Industrial Realty Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 15th. Stockholders of record on Wednesday, December 31st will be paid a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a dividend yield of 4.2%. The ex-dividend date of this dividend is Wednesday, December 31st. Rexford Industrial Realty’s dividend payout ratio is currently 121.13%.

Rexford Industrial Realty Company 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.