Employees Retirement System of Texas Trims Stock Holdings in Rexford Industrial Realty, Inc. (NYSE:REXR)

Employees Retirement System of Texas lowered its position in shares of Rexford Industrial Realty, Inc. (NYSE:REXR) by 59.7% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 60,000 shares of the real estate investment trust’s stock after selling 89,000 shares during the quarter. Employees Retirement System of Texas’ holdings in Rexford Industrial Realty were worth $2,320,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Polymer Capital Management US LLC acquired a new stake in shares of Rexford Industrial Realty in the fourth quarter worth $323,000. Cerity Partners LLC grew its position in Rexford Industrial Realty by 1.8% during the 4th quarter. Cerity Partners LLC now owns 40,029 shares of the real estate investment trust’s stock worth $1,586,000 after purchasing an additional 697 shares during the period. Sun Life Financial Inc. grew its position in Rexford Industrial Realty by 7.3% during the 4th quarter. Sun Life Financial Inc. now owns 160,448 shares of the real estate investment trust’s stock worth $6,203,000 after purchasing an additional 10,870 shares during the period. Pilgrim Partners Asia Pte Ltd purchased a new position in shares of Rexford Industrial Realty during the 4th quarter valued at about $65,000. Finally, Resona Asset Management Co. Ltd. acquired a new position in shares of Rexford Industrial Realty in the 4th quarter valued at about $3,419,000. Hedge funds and other institutional investors own 99.52% of the company’s stock.

Wall Street Analyst Weigh In

REXR has been the subject of several recent research reports. Barclays reduced their price target on 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. Industrial Alliance Securities set a $38.00 target price on shares of Rexford Industrial Realty in a report on Tuesday, March 25th. Mizuho lowered 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 report on Wednesday, January 8th. Scotiabank cut their price objective on shares of Rexford Industrial Realty from $47.00 to $39.00 and set a “sector perform” rating for the company in a report on Monday. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on shares of Rexford Industrial Realty in a research note on Tuesday, January 14th. They set a “hold” rating and a $40.00 target price on the stock. 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’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $46.17.

Rexford Industrial Realty Trading Down 3.6 %

Shares of Rexford Industrial Realty stock opened at $33.43 on Tuesday. Rexford Industrial Realty, Inc. has a twelve month low of $32.27 and a twelve month high of $52.61. The firm’s 50-day moving average price is $39.95 and its 200 day moving average price is $41.77. The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 0.39. The firm has a market capitalization of $7.62 billion, a PE ratio of 27.63, a P/E/G ratio of 2.62 and a beta of 0.99.

Rexford Industrial Realty (NYSE:REXR) last released its earnings results on Wednesday, February 5th. The real estate investment trust reported $0.58 earnings per share for the quarter, beating the consensus estimate 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 predict that Rexford Industrial Realty, Inc. will post 2.38 EPS for the current fiscal year.

Rexford Industrial Realty Increases Dividend

The firm also recently announced 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. This is a positive change from Rexford Industrial Realty’s previous quarterly dividend of $0.42. 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 5.14%. Rexford Industrial Realty’s dividend payout ratio is presently 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.