State of Alaska Department of Revenue Has $5.08 Million Stake in Rexford Industrial Realty, Inc. (NYSE:REXR)

State of Alaska Department of Revenue lifted its holdings in shares of Rexford Industrial Realty, Inc. (NYSE:REXR) by 0.9% in the 4th quarter, HoldingsChannel.com reports. The fund owned 131,519 shares of the real estate investment trust’s stock after purchasing an additional 1,210 shares during the quarter. State of Alaska Department of Revenue’s holdings in Rexford Industrial Realty were worth $5,083,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also made changes to their positions in the company. B. Metzler seel. Sohn & Co. Holding AG bought a new position in Rexford Industrial Realty during the third quarter worth $3,376,000. Asset Management One Co. Ltd. lifted its stake in shares of Rexford Industrial Realty by 15.8% during the 3rd quarter. Asset Management One Co. Ltd. now owns 471,682 shares of the real estate investment trust’s stock worth $23,730,000 after buying an additional 64,264 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of Rexford Industrial Realty by 26.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 4,503,571 shares of the real estate investment trust’s stock worth $226,575,000 after buying an additional 954,202 shares during the period. Koa Wealth Management LLC grew its stake in Rexford Industrial Realty by 357.2% in the 4th quarter. Koa Wealth Management LLC now owns 32,766 shares of the real estate investment trust’s stock valued at $1,267,000 after buying an additional 25,600 shares during the last quarter. Finally, M&G PLC raised its holdings in Rexford Industrial Realty by 24.0% in the 3rd quarter. M&G PLC now owns 935,892 shares of the real estate investment trust’s stock valued at $46,795,000 after acquiring an additional 180,940 shares during the period. 99.52% of the stock is owned by institutional investors and hedge funds.

Rexford Industrial Realty Price Performance

REXR stock opened at $39.56 on Friday. The company’s 50-day moving average price is $39.73 and its two-hundred day moving average price is $44.91. The firm has a market cap of $8.80 billion, a P/E ratio of 32.16, a P/E/G ratio of 2.21 and a beta of 0.95. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 0.40. Rexford Industrial Realty, Inc. has a 12 month low of $36.92 and a 12 month high of $53.88.

Rexford Industrial Realty (NYSE:REXR) last announced its quarterly earnings data on Wednesday, February 5th. The real estate investment trust reported $0.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.27 by $0.31. Rexford Industrial Realty had a net margin of 30.40% and a return on equity of 3.35%. On average, analysts anticipate that Rexford Industrial Realty, Inc. will post 2.34 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 dividend of $0.43 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $1.72 dividend on an annualized basis and a dividend yield of 4.35%. This is a boost from Rexford Industrial Realty’s previous quarterly dividend of $0.42. Rexford Industrial Realty’s payout ratio is 135.77%.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on REXR shares. Truist Financial reduced their price objective on Rexford Industrial Realty from $54.00 to $50.00 and set a “buy” rating for the company in a report on Tuesday, November 12th. Deutsche Bank Aktiengesellschaft started coverage on Rexford Industrial Realty in a research note on Tuesday, January 14th. They issued a “hold” rating and a $40.00 price target for the company. Scotiabank cut Rexford Industrial Realty from a “sector outperform” rating to a “sector perform” rating and lowered their price objective for the stock from $55.00 to $48.00 in a research report on Friday, October 25th. Barclays dropped their target price on Rexford Industrial Realty from $44.00 to $41.00 and set an “underweight” rating for the company in a report on Monday, January 13th. Finally, Mizuho decreased their price target on shares of Rexford Industrial Realty from $46.00 to $45.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 8th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, Rexford Industrial Realty has an average rating of “Hold” and a consensus target price of $49.42.

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.