Rexford Industrial Realty, Inc. (NYSE:REXR) Shares Purchased by Strs Ohio

Strs Ohio raised its position in shares of Rexford Industrial Realty, Inc. (NYSE:REXR) by 0.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 280,568 shares of the real estate investment trust’s stock after purchasing an additional 1,025 shares during the quarter. Strs Ohio owned 0.13% of Rexford Industrial Realty worth $15,739,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the company. Quarry LP bought a new stake in Rexford Industrial Realty in the second quarter worth $28,000. Quent Capital LLC boosted its holdings in Rexford Industrial Realty by 594.4% in the third quarter. Quent Capital LLC now owns 743 shares of the real estate investment trust’s stock worth $37,000 after purchasing an additional 636 shares in the last quarter. Fifth Third Bancorp boosted its holdings in Rexford Industrial Realty by 58.2% in the third quarter. Fifth Third Bancorp now owns 1,117 shares of the real estate investment trust’s stock worth $55,000 after purchasing an additional 411 shares in the last quarter. Belpointe Asset Management LLC boosted its holdings in Rexford Industrial Realty by 112.7% in the first quarter. Belpointe Asset Management LLC now owns 1,176 shares of the real estate investment trust’s stock worth $70,000 after purchasing an additional 623 shares in the last quarter. Finally, Ninepoint Partners LP bought a new stake in Rexford Industrial Realty in the third quarter worth $108,000. 99.52% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Rexford Industrial Realty news, General Counsel David E. Lanzer sold 18,113 shares of Rexford Industrial Realty stock in a transaction on Monday, February 12th. The shares were sold at an average price of $52.69, for a total transaction of $954,373.97. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.10% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on REXR. Truist Financial decreased their price objective on shares of Rexford Industrial Realty from $57.00 to $53.00 and set a “buy” rating for the company in a report on Tuesday. Barclays began coverage on shares of Rexford Industrial Realty in a report on Wednesday, March 27th. They set an “underweight” rating and a $45.00 price target for the company. Robert W. Baird restated a “neutral” rating and set a $61.00 price target (up from $53.00) on shares of Rexford Industrial Realty in a report on Friday, January 5th. Mizuho restated a “neutral” rating and set a $52.00 price target on shares of Rexford Industrial Realty in a report on Tuesday, April 2nd. Finally, JPMorgan Chase & Co. cut shares of Rexford Industrial Realty from an “overweight” rating to a “neutral” rating and set a $55.00 price target for the company. in a report on Wednesday, February 7th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $55.60.

Rexford Industrial Realty Stock Performance

Shares of Rexford Industrial Realty stock opened at $44.66 on Wednesday. The firm has a 50 day simple moving average of $50.97 and a 200 day simple moving average of $50.77. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.35 and a quick ratio of 1.35. Rexford Industrial Realty, Inc. has a fifty-two week low of $41.56 and a fifty-two week high of $58.02. The firm has a market cap of $9.61 billion, a P/E ratio of 39.88, a P/E/G ratio of 2.06 and a beta of 0.86.

Rexford Industrial Realty Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Thursday, March 28th were issued a dividend of $0.4175 per share. This represents a $1.67 dividend on an annualized basis and a yield of 3.74%. The ex-dividend date of this dividend was Wednesday, March 27th. This is a positive change from Rexford Industrial Realty’s previous quarterly dividend of $0.38. Rexford Industrial Realty’s payout ratio is currently 149.11%.

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.