Public Employees Retirement System of Ohio Trims Stock Position in Rexford Industrial Realty, Inc. (NYSE:REXR)

Public Employees Retirement System of Ohio decreased its position in shares of Rexford Industrial Realty, Inc. (NYSE:REXR) by 2.5% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 382,040 shares of the real estate investment trust’s stock after selling 9,758 shares during the quarter. Public Employees Retirement System of Ohio owned approximately 0.18% of Rexford Industrial Realty worth $19,217,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also made changes to their positions in REXR. GAMMA Investing LLC purchased a new position in Rexford Industrial Realty during the 4th quarter worth approximately $41,000. Advisors Asset Management Inc. grew its position in shares of Rexford Industrial Realty by 136.6% during the first quarter. Advisors Asset Management Inc. now owns 1,086 shares of the real estate investment trust’s stock worth $55,000 after acquiring an additional 627 shares during the last quarter. Quarry LP grew its position in shares of Rexford Industrial Realty by 195.8% during the fourth quarter. Quarry LP now owns 1,118 shares of the real estate investment trust’s stock worth $63,000 after acquiring an additional 740 shares during the last quarter. Principal Securities Inc. acquired a new position in shares of Rexford Industrial Realty in the 4th quarter valued at $96,000. Finally, International Assets Investment Management LLC raised its position in Rexford Industrial Realty by 5,510.9% in the 4th quarter. International Assets Investment Management LLC now owns 3,086 shares of the real estate investment trust’s stock valued at $173,000 after purchasing an additional 3,031 shares during the last quarter. Institutional investors and hedge funds own 99.52% of the company’s stock.

Rexford Industrial Realty Price Performance

Rexford Industrial Realty stock opened at $49.62 on Tuesday. The company has a market cap of $10.89 billion, a P/E ratio of 45.21, a price-to-earnings-growth ratio of 2.02 and a beta of 0.92. Rexford Industrial Realty, Inc. has a one year low of $41.56 and a one year high of $58.02. The business has a fifty day moving average of $45.89 and a two-hundred day moving average of $48.36. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.73 and a current ratio of 1.73.

Rexford Industrial Realty (NYSE:REXR) last announced its quarterly earnings data on Wednesday, July 17th. The real estate investment trust reported $0.37 EPS for the quarter, missing the consensus estimate of $0.58 by ($0.21). Rexford Industrial Realty had a net margin of 30.71% and a return on equity of 3.31%. The company had revenue of $237.60 million during the quarter, compared to analyst estimates of $227.70 million. During the same quarter last year, the business earned $0.54 EPS. The firm’s revenue for the quarter was up 21.3% on a year-over-year basis. As a group, analysts predict that Rexford Industrial Realty, Inc. will post 2.34 earnings per share for the current fiscal year.

Rexford Industrial Realty Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 30th will be issued a $0.4175 dividend. The ex-dividend date of this dividend is Monday, September 30th. This represents a $1.67 dividend on an annualized basis and a dividend yield of 3.37%. This is a boost from Rexford Industrial Realty’s previous quarterly dividend of $0.42. Rexford Industrial Realty’s dividend payout ratio is currently 153.21%.

Analyst Upgrades and Downgrades

REXR has been the topic of several research reports. Evercore ISI initiated coverage on shares of Rexford Industrial Realty in a research report on Wednesday, July 10th. They set an “outperform” rating and a $54.00 price objective on the stock. Robert W. Baird dropped their price target on Rexford Industrial Realty from $57.00 to $49.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 1st. Barclays upped their price objective on Rexford Industrial Realty from $45.00 to $46.00 and gave the company an “underweight” rating in a research note on Tuesday, April 23rd. StockNews.com upgraded Rexford Industrial Realty from a “sell” rating to a “hold” rating in a research note on Monday, July 22nd. Finally, Mizuho cut their price target on Rexford Industrial Realty from $52.00 to $50.00 and set a “neutral” rating for the company in a research note on Friday, May 31st. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $52.70.

Insider Activity at Rexford Industrial Realty

In related news, CEO Howard Schwimmer sold 30,358 shares of Rexford Industrial Realty stock in a transaction on Friday, July 26th. The stock was sold at an average price of $48.86, for a total transaction of $1,483,291.88. Following the completion of the transaction, the chief executive officer now directly owns 50,673 shares of the company’s stock, valued at $2,475,882.78. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 1.20% of the stock is currently owned by company insiders.

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.