Employees Retirement System of Texas Sells 89,000 Shares of Rexford Industrial Realty, Inc. (NYSE:REXR)

Employees Retirement System of Texas trimmed its holdings in shares of Rexford Industrial Realty, Inc. (NYSE:REXR - Free Report) by 59.7% in the fourth quarter, according to 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 period. Employees Retirement System of Texas' holdings in Rexford Industrial Realty were worth $2,320,000 as of its most recent filing with the SEC.

Several other institutional investors have also made changes to their positions in REXR. Norges Bank acquired a new position in Rexford Industrial Realty in the fourth quarter valued at about $104,685,000. Centersquare Investment Management LLC boosted its holdings in shares of Rexford Industrial Realty by 32.3% in the 4th quarter. Centersquare Investment Management LLC now owns 4,492,166 shares of the real estate investment trust's stock worth $173,667,000 after acquiring an additional 1,097,349 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of Rexford Industrial Realty by 26.9% in 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 acquiring an additional 954,202 shares in the last quarter. Duff & Phelps Investment Management Co. grew its position in Rexford Industrial Realty by 40.4% during the 4th quarter. Duff & Phelps Investment Management Co. now owns 2,910,765 shares of the real estate investment trust's stock worth $112,530,000 after acquiring an additional 837,630 shares during the last quarter. Finally, Vanguard Group Inc. increased its holdings in Rexford Industrial Realty by 1.9% during the 4th quarter. Vanguard Group Inc. now owns 29,931,981 shares of the real estate investment trust's stock valued at $1,157,170,000 after purchasing an additional 562,710 shares in the last quarter. 99.52% of the stock is currently owned by institutional investors and hedge funds.

Rexford Industrial Realty Trading Up 1.6 %

NYSE REXR traded up $0.50 on Friday, reaching $32.44. The company had a trading volume of 3,730,293 shares, compared to its average volume of 1,920,938. The company has a quick ratio of 1.30, a current ratio of 1.30 and a debt-to-equity ratio of 0.39. The stock has a market cap of $7.40 billion, a price-to-earnings ratio of 26.81, a PEG ratio of 2.62 and a beta of 0.99. The stock's 50 day moving average is $38.98 and its 200-day moving average is $41.05. Rexford Industrial Realty, Inc. has a 52 week low of $29.68 and a 52 week high of $52.61.

Rexford Industrial Realty (NYSE:REXR - Get Free Report) last issued 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 29.10% and a return on equity of 3.26%. Equities analysts predict that Rexford Industrial Realty, Inc. will post 2.38 earnings per share for the current year.

Rexford Industrial Realty Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be paid a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a yield of 5.30%. The ex-dividend date of this dividend is Monday, March 31st. This is an increase from Rexford Industrial Realty's previous quarterly dividend of $0.42. Rexford Industrial Realty's dividend payout ratio (DPR) is presently 142.15%.

Wall Street Analysts Forecast Growth

REXR has been the topic of a number of recent analyst reports. Robert W. Baird reduced their price objective on Rexford Industrial Realty from $48.00 to $47.00 and set a "neutral" rating on the stock in a research note on Tuesday, March 4th. Mizuho decreased their price objective 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. Industrial Alliance Securities set a $38.00 price objective on shares of Rexford Industrial Realty in a research report on Tuesday, March 25th. Barclays reduced their target price on shares of Rexford Industrial Realty from $41.00 to $38.00 and set an "underweight" rating on the stock in a research report on Tuesday, March 25th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on shares of Rexford Industrial Realty in a report on Tuesday, January 14th. They issued a "hold" rating and a $40.00 price target for the company. Two 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's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $46.17.

Rexford Industrial Realty Profile

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.