State of New Jersey Common Pension Fund D Sells 2,144 Shares of Rexford Industrial Realty, Inc. (NYSE:REXR)

State of New Jersey Common Pension Fund D cut its stake in Rexford Industrial Realty, Inc. (NYSE:REXR) by 0.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 344,886 shares of the real estate investment trust’s stock after selling 2,144 shares during the quarter. State of New Jersey Common Pension Fund D owned approximately 0.16% of Rexford Industrial Realty worth $17,351,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of REXR. Massmutual Trust Co. FSB ADV grew its stake in Rexford Industrial Realty by 169.4% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 555 shares of the real estate investment trust’s stock valued at $25,000 after buying an additional 349 shares during the last quarter. V Square Quantitative Management LLC bought a new position in shares of Rexford Industrial Realty during the second quarter worth approximately $26,000. UMB Bank n.a. lifted its holdings in Rexford Industrial Realty by 164.3% during the 3rd quarter. UMB Bank n.a. now owns 719 shares of the real estate investment trust’s stock worth $36,000 after purchasing an additional 447 shares during the last quarter. Headlands Technologies LLC bought a new stake in Rexford Industrial Realty in the 2nd quarter valued at $41,000. Finally, EverSource Wealth Advisors LLC grew its holdings in Rexford Industrial Realty by 1,252.2% in the 1st quarter. EverSource Wealth Advisors LLC now owns 933 shares of the real estate investment trust’s stock valued at $47,000 after buying an additional 864 shares in the last quarter. Institutional investors and hedge funds own 99.52% of the company’s stock.

Rexford Industrial Realty Price Performance

Rexford Industrial Realty stock traded up $0.52 during midday trading on Friday, reaching $43.11. The company’s stock had a trading volume of 1,223,768 shares, compared to its average volume of 2,158,162. The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 0.40. The stock has a market cap of $9.59 billion, a PE ratio of 35.05, a price-to-earnings-growth ratio of 2.06 and a beta of 0.94. Rexford Industrial Realty, Inc. has a 52 week low of $41.89 and a 52 week high of $58.02. The business has a 50-day moving average price of $47.76 and a 200-day moving average price of $47.08.

Rexford Industrial Realty (NYSE:REXR) last announced its quarterly earnings results on Wednesday, October 16th. The real estate investment trust reported $0.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.58 by ($0.28). The company had revenue of $241.84 million for the quarter, compared to the consensus estimate of $235.81 million. Rexford Industrial Realty had a net margin of 30.40% and a return on equity of 3.35%. The company’s revenue for the quarter was up 17.7% compared to the same quarter last year. During the same period last year, the firm posted $0.56 earnings per share. On average, sell-side analysts predict that Rexford Industrial Realty, Inc. will post 2.34 EPS for the current year.

Rexford Industrial Realty Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be issued a dividend of $0.4175 per share. This represents a $1.67 annualized dividend and a dividend yield of 3.87%. The ex-dividend date is Tuesday, December 31st. Rexford Industrial Realty’s dividend payout ratio (DPR) is 135.77%.

Insider Buying and Selling

In other Rexford Industrial Realty news, CFO Laura E. Clark sold 14,185 shares of the stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $50.15, for a total value of $711,377.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 1.20% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Scotiabank downgraded Rexford Industrial Realty from a “sector outperform” rating to a “sector perform” rating and dropped their target price for the stock from $55.00 to $48.00 in a report on Friday, October 25th. Truist Financial increased their target price on shares of Rexford Industrial Realty from $50.00 to $54.00 and gave the stock a “buy” rating in a research report on Tuesday, July 30th. Wells Fargo & Company dropped their price target on shares of Rexford Industrial Realty from $66.00 to $61.00 and set an “overweight” rating for the company in a research report on Wednesday, August 28th. StockNews.com cut Rexford Industrial Realty from a “hold” rating to a “sell” rating in a research note on Monday, October 21st. Finally, Industrial Alliance Securities set a $55.00 price objective on Rexford Industrial Realty in a research note on Friday, October 18th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $51.45.

About Rexford Industrial Realty

Rexford Industrial creates value by investing in, operating and redeveloping industrial properties throughout infill Southern California, the world's fourth largest industrial market and consistently the highest-demand with lowest-supply major market in the nation. The Company's highly differentiated strategy enables internal and external growth opportunities through its proprietary value creation and asset management capabilities.