New York State Common Retirement Fund Sells 59,357 Shares of Rexford Industrial Realty, Inc. $REXR

New York State Common Retirement Fund cut its stake in shares of Rexford Industrial Realty, Inc. (NYSE:REXR) by 33.6% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 117,291 shares of the real estate investment trust’s stock after selling 59,357 shares during the quarter. New York State Common Retirement Fund’s holdings in Rexford Industrial Realty were worth $4,172,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in REXR. Northwestern Mutual Wealth Management Co. increased its stake in shares of Rexford Industrial Realty by 403.6% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 690 shares of the real estate investment trust’s stock valued at $27,000 after buying an additional 553 shares during the period. Caitong International Asset Management Co. Ltd increased its position in Rexford Industrial Realty by 280.7% during the 1st quarter. Caitong International Asset Management Co. Ltd now owns 1,085 shares of the real estate investment trust’s stock valued at $42,000 after purchasing an additional 800 shares during the period. Hantz Financial Services Inc. increased its position in Rexford Industrial Realty by 2,331.7% during the 2nd quarter. Hantz Financial Services Inc. now owns 1,459 shares of the real estate investment trust’s stock valued at $52,000 after purchasing an additional 1,399 shares during the period. Virtus Investment Advisers LLC raised its holdings in Rexford Industrial Realty by 19.0% during the 2nd quarter. Virtus Investment Advisers LLC now owns 4,694 shares of the real estate investment trust’s stock worth $167,000 after purchasing an additional 751 shares during the last quarter. Finally, Sandler Capital Management acquired a new position in shares of Rexford Industrial Realty in the 1st quarter worth approximately $235,000. Institutional investors own 99.52% of the company’s stock.

Insider Buying and Selling

In other Rexford Industrial Realty news, CEO Michael S. Frankel sold 20,318 shares of the firm’s stock in a transaction on Thursday, December 4th. The stock was sold at an average price of $41.61, for a total transaction of $845,431.98. Following the transaction, the chief executive officer directly owned 602,288 shares in the company, valued at approximately $25,061,203.68. This trade represents a 3.26% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last ninety days, insiders sold 38,368 shares of company stock valued at $1,594,581. Corporate insiders own 1.20% of the company’s stock.

Rexford Industrial Realty Stock Down 1.1%

Shares of NYSE REXR opened at $40.72 on Monday. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.95 and a quick ratio of 2.95. The company has a 50-day moving average price of $41.57 and a 200-day moving average price of $39.37. The stock has a market capitalization of $9.48 billion, a P/E ratio of 28.68, a P/E/G ratio of 2.52 and a beta of 1.22. Rexford Industrial Realty, Inc. has a 1 year low of $29.68 and a 1 year high of $44.38.

Rexford Industrial Realty (NYSE:REXR) last posted its earnings results on Wednesday, October 15th. The real estate investment trust reported $0.60 earnings per share for the quarter, topping analysts’ consensus estimates of $0.59 by $0.01. The company had revenue of $253.24 million for the quarter, compared to analyst estimates of $253.46 million. Rexford Industrial Realty had a net margin of 33.88% and a return on equity of 3.81%. The firm’s revenue was up 4.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.59 EPS. 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 EPS for the current fiscal year.

Rexford Industrial Realty Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 15th. Investors of record on Wednesday, December 31st will be issued a dividend of $0.43 per share. The ex-dividend date is Wednesday, December 31st. This represents a $1.72 annualized dividend and a yield of 4.2%. Rexford Industrial Realty’s dividend payout ratio is 121.13%.

Analysts Set New Price Targets

Several research firms have recently weighed in on REXR. Evercore ISI decreased their price objective on shares of Rexford Industrial Realty from $42.00 to $41.00 and set an “in-line” rating for the company in a research report on Monday, December 1st. BNP Paribas cut shares of Rexford Industrial Realty to a “hold” rating in a report on Tuesday, October 21st. Cantor Fitzgerald started coverage on shares of Rexford Industrial Realty in a research note on Wednesday, October 1st. They issued an “overweight” rating and a $50.00 price target for the company. Wells Fargo & Company increased their price objective on shares of Rexford Industrial Realty from $40.00 to $47.00 and gave the stock an “overweight” rating in a research report on Monday, October 27th. Finally, Wolfe Research lowered Rexford Industrial Realty from an “outperform” rating to a “peer perform” rating in a research report on Monday, October 20th. Three equities research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Rexford Industrial Realty has a consensus rating of “Hold” and a consensus price target of $43.08.

Rexford Industrial Realty 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.