California State Teachers Retirement System cut its holdings in shares of Rexford Industrial Realty Inc (NYSE:REXR) by 2.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 141,332 shares of the real estate investment trust’s stock after selling 3,142 shares during the period. California State Teachers Retirement System’s holdings in Rexford Industrial Realty were worth $5,061,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also modified their holdings of REXR. Parametric Portfolio Associates LLC boosted its holdings in Rexford Industrial Realty by 33.6% in the first quarter. Parametric Portfolio Associates LLC now owns 150,552 shares of the real estate investment trust’s stock worth $5,391,000 after purchasing an additional 37,827 shares in the last quarter. First Trust Advisors LP boosted its holdings in Rexford Industrial Realty by 419.1% in the first quarter. First Trust Advisors LP now owns 90,000 shares of the real estate investment trust’s stock worth $3,223,000 after purchasing an additional 72,663 shares in the last quarter. Martingale Asset Management L P bought a new stake in Rexford Industrial Realty in the first quarter worth $366,000. Penserra Capital Management LLC bought a new stake in Rexford Industrial Realty in the first quarter worth $4,849,000. Finally, Global Alpha Capital Management Ltd. bought a new stake in Rexford Industrial Realty in the first quarter worth $5,765,000. Institutional investors and hedge funds own 98.68% of the company’s stock.
A number of equities research analysts recently issued reports on the stock. Zacks Investment Research cut shares of Rexford Industrial Realty from a “buy” rating to a “hold” rating in a report on Tuesday. Wells Fargo & Co upped their price objective on shares of Rexford Industrial Realty from $32.00 to $37.00 and gave the stock a “market perform” rating in a report on Thursday, March 14th. They noted that the move was a valuation call. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Rexford Industrial Realty currently has an average rating of “Hold” and a consensus target price of $38.33.
Shares of NYSE:REXR opened at $39.94 on Thursday. The firm has a market capitalization of $4.11 billion, a P/E ratio of 35.66, a price-to-earnings-growth ratio of 3.75 and a beta of 0.84. Rexford Industrial Realty Inc has a 1 year low of $28.17 and a 1 year high of $40.00. The company has a debt-to-equity ratio of 0.38, a current ratio of 8.34 and a quick ratio of 8.34.
Rexford Industrial Realty (NYSE:REXR) last issued its quarterly earnings data on Tuesday, April 30th. The real estate investment trust reported $0.08 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.28 by ($0.20). The business had revenue of $60.36 million during the quarter, compared to the consensus estimate of $60.05 million. Rexford Industrial Realty had a return on equity of 2.43% and a net margin of 18.77%. The company’s revenue for the quarter was up 24.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.27 earnings per share. As a group, equities analysts anticipate that Rexford Industrial Realty Inc will post 1.2 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Friday, June 28th will be given a dividend of $0.185 per share. This represents a $0.74 dividend on an annualized basis and a yield of 1.85%. The ex-dividend date is Thursday, June 27th. Rexford Industrial Realty’s dividend payout ratio is 66.07%.
In other Rexford Industrial Realty news, General Counsel David E. Lanzer sold 5,085 shares of the business’s stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $38.19, for a total transaction of $194,196.15. Following the completion of the transaction, the general counsel now owns 5,718 shares of the company’s stock, valued at approximately $218,370.42. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Adeel Khan sold 40,000 shares of the business’s stock in a transaction on Thursday, May 23rd. The stock was sold at an average price of $38.00, for a total transaction of $1,520,000.00. Following the transaction, the chief financial officer now directly owns 40,000 shares of the company’s stock, valued at approximately $1,520,000. The disclosure for this sale can be found here. 1.70% of the stock is owned by insiders.
About Rexford Industrial Realty
Rexford Industrial is a real estate investment trust focused on owning and operating industrial properties in Southern California infill markets. The Company owns 179 properties with approximately 22.1 million rentable square feet and manages an additional 20 properties with approximately 1.2 million rentable square feet.
Recommended Story: Equity Income
Want to see what other hedge funds are holding REXR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Rexford Industrial Realty Inc (NYSE:REXR).
Receive News & Ratings for Rexford Industrial Realty Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Rexford Industrial Realty and related companies with MarketBeat.com's FREE daily email newsletter.