California Public Employees Retirement System Lowers Holdings in Rexford Industrial Realty, Inc. (NYSE:REXR)

California Public Employees Retirement System trimmed its stake in shares of Rexford Industrial Realty, Inc. (NYSE:REXR) by 6.9% in the 4th quarter, HoldingsChannel reports. The firm owned 341,192 shares of the real estate investment trust’s stock after selling 25,323 shares during the period. California Public Employees Retirement System’s holdings in Rexford Industrial Realty were worth $13,190,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. FMR LLC lifted its holdings in Rexford Industrial Realty by 243.8% during the 3rd quarter. FMR LLC now owns 275,669 shares of the real estate investment trust’s stock worth $13,869,000 after buying an additional 195,496 shares during the last quarter. HighTower Advisors LLC lifted its position in Rexford Industrial Realty by 256.6% during the 3rd quarter. HighTower Advisors LLC now owns 57,431 shares of the real estate investment trust’s stock worth $2,909,000 after acquiring an additional 41,324 shares during the period. IHT Wealth Management LLC lifted its position in Rexford Industrial Realty by 4.8% in the third quarter. IHT Wealth Management LLC now owns 6,451 shares of the real estate investment trust’s stock valued at $325,000 after purchasing an additional 296 shares during the period. Quarry LP raised its position in Rexford Industrial Realty by 239.6% in the third quarter. Quarry LP now owns 2,649 shares of the real estate investment trust’s stock worth $133,000 after acquiring an additional 1,869 shares in the last quarter. Finally, Quantinno Capital Management LP boosted its holdings in Rexford Industrial Realty by 14.3% during the third quarter. Quantinno Capital Management LP now owns 13,939 shares of the real estate investment trust’s stock worth $701,000 after buying an additional 1,744 shares in the last quarter. 99.52% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on REXR. Industrial Alliance Securities set a $38.00 price target on Rexford Industrial Realty in a research report on Tuesday, March 25th. Deutsche Bank Aktiengesellschaft assumed coverage on Rexford Industrial Realty in a research report on Tuesday, January 14th. They set a “hold” rating and a $40.00 price target for the company. Barclays dropped their price objective on shares of Rexford Industrial Realty from $41.00 to $38.00 and set an “underweight” rating for the company in a research report on Tuesday, March 25th. Scotiabank decreased their price target on shares of Rexford Industrial Realty from $48.00 to $47.00 and set a “sector perform” rating for the company in a research report on Friday, February 28th. Finally, JPMorgan Chase & Co. cut their price objective on Rexford Industrial Realty from $45.00 to $44.00 and set a “neutral” rating on the stock in a research report on Thursday, February 13th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, Rexford Industrial Realty currently has a consensus rating of “Hold” and an average price target of $46.83.

Rexford Industrial Realty Stock Down 3.3 %

Shares of Rexford Industrial Realty stock opened at $34.69 on Friday. The business has a 50-day moving average price of $40.11 and a 200 day moving average price of $41.97. Rexford Industrial Realty, Inc. has a fifty-two week low of $33.80 and a fifty-two week high of $52.61. The firm has a market cap of $7.91 billion, a P/E ratio of 28.67, a P/E/G ratio of 2.62 and a beta of 0.99. The company has a quick ratio of 1.30, a current ratio of 1.30 and a debt-to-equity ratio of 0.39.

Rexford Industrial Realty (NYSE:REXR) last issued its quarterly earnings results on Wednesday, February 5th. The real estate investment trust reported $0.58 earnings per share for the quarter, beating analysts’ consensus estimates of $0.27 by $0.31. Rexford Industrial Realty had a return on equity of 3.26% and a net margin of 29.10%. On average, sell-side analysts forecast that Rexford Industrial Realty, Inc. will post 2.38 earnings per share for the current fiscal year.

Rexford Industrial Realty Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be issued a $0.43 dividend. The ex-dividend date is Monday, March 31st. This is a positive change from Rexford Industrial Realty’s previous quarterly dividend of $0.42. This represents a $1.72 annualized dividend and a dividend yield of 4.96%. Rexford Industrial Realty’s payout ratio is 142.15%.

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.