State of New Jersey Common Pension Fund D Has $17.35 Million Position in Rexford Industrial Realty, Inc. (NYSE:REXR)

State of New Jersey Common Pension Fund D decreased its stake in Rexford Industrial Realty, Inc. (NYSE:REXR) by 0.6% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 344,886 shares of the real estate investment trust’s stock after selling 2,144 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Rexford Industrial Realty were worth $17,351,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Fulton Bank N.A. lifted its position in shares of Rexford Industrial Realty by 4.7% during the 3rd quarter. Fulton Bank N.A. now owns 5,038 shares of the real estate investment trust’s stock valued at $253,000 after acquiring an additional 224 shares during the period. Inspire Investing LLC grew its stake in shares of Rexford Industrial Realty by 4.9% in the 1st quarter. Inspire Investing LLC now owns 7,126 shares of the real estate investment trust’s stock valued at $358,000 after buying an additional 331 shares during the period. Hennion & Walsh Asset Management Inc. increased its position in Rexford Industrial Realty by 2.4% in the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 14,641 shares of the real estate investment trust’s stock valued at $653,000 after buying an additional 337 shares in the last quarter. Victory Capital Management Inc. raised its stake in Rexford Industrial Realty by 0.8% during the 2nd quarter. Victory Capital Management Inc. now owns 46,066 shares of the real estate investment trust’s stock worth $2,054,000 after buying an additional 345 shares during the period. Finally, Massmutual Trust Co. FSB ADV grew its stake in Rexford Industrial Realty by 169.4% in the second quarter. Massmutual Trust Co. FSB ADV now owns 555 shares of the real estate investment trust’s stock valued at $25,000 after acquiring an additional 349 shares during the period. 99.52% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, CFO Laura E. Clark sold 14,185 shares of the company’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $50.15, for a total transaction of $711,377.75. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 1.20% of the company’s stock.

Rexford Industrial Realty Stock Performance

Shares of NYSE REXR traded up $0.52 during mid-day trading on Friday, reaching $43.11. 1,223,768 shares of the company’s stock were exchanged, compared to its average volume of 2,158,162. The firm has a 50-day moving average price of $47.76 and a two-hundred day moving average price of $47.08. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.20 and a quick ratio of 1.20. The firm has a market capitalization of $9.59 billion, a price-to-earnings 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.

Rexford Industrial Realty (NYSE:REXR) last announced its quarterly earnings data on Wednesday, October 16th. The real estate investment trust reported $0.30 EPS for the quarter, missing the consensus estimate of $0.58 by ($0.28). Rexford Industrial Realty had a return on equity of 3.35% and a net margin of 30.40%. The company had revenue of $241.84 million during the quarter, compared to the consensus estimate of $235.81 million. During the same period in the prior year, the firm posted $0.56 EPS. The business’s revenue was up 17.7% on a year-over-year basis. 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. Shareholders 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 yield of 3.87%. The ex-dividend date is Tuesday, December 31st. Rexford Industrial Realty’s dividend payout ratio (DPR) is 135.77%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. StockNews.com lowered Rexford Industrial Realty from a “hold” rating to a “sell” rating in a research report on Monday, October 21st. Industrial Alliance Securities set a $55.00 price objective on shares of Rexford Industrial Realty in a report on Friday, October 18th. Bank of America lowered shares of Rexford Industrial Realty from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $66.00 to $49.00 in a report on Monday, October 21st. Truist Financial raised their price target on shares of Rexford Industrial Realty from $50.00 to $54.00 and gave the company a “buy” rating in a research report on Tuesday, July 30th. Finally, Mizuho lowered their price objective on Rexford Industrial Realty from $50.00 to $49.00 and set a “neutral” rating for the company in a research note on Thursday, September 5th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target 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.