Teachers Retirement System of The State of Kentucky Cuts Stake in Rexford Industrial Realty, Inc. (NYSE:REXR)

Teachers Retirement System of The State of Kentucky lessened its position in Rexford Industrial Realty, Inc. (NYSE:REXR) by 2.7% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 68,233 shares of the real estate investment trust’s stock after selling 1,900 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in Rexford Industrial Realty were worth $3,432,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. CWM LLC boosted its holdings in Rexford Industrial Realty by 73.9% in the 2nd quarter. CWM LLC now owns 1,485 shares of the real estate investment trust’s stock valued at $66,000 after purchasing an additional 631 shares in the last quarter. Wealth Enhancement Advisory Services LLC purchased a new stake in shares of Rexford Industrial Realty in the second quarter valued at approximately $424,000. Envestnet Portfolio Solutions Inc. grew its stake in shares of Rexford Industrial Realty by 28.2% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 5,380 shares of the real estate investment trust’s stock worth $240,000 after purchasing an additional 1,185 shares during the period. Raymond James & Associates increased its holdings in shares of Rexford Industrial Realty by 264.5% in the 2nd quarter. Raymond James & Associates now owns 361,672 shares of the real estate investment trust’s stock valued at $16,127,000 after purchasing an additional 262,435 shares in the last quarter. Finally, Hennion & Walsh Asset Management Inc. lifted its stake in shares of Rexford Industrial Realty by 2.4% in the second quarter. Hennion & Walsh Asset Management Inc. now owns 14,641 shares of the real estate investment trust’s stock valued at $653,000 after purchasing an additional 337 shares during the period. Hedge funds and other institutional investors own 99.52% of the company’s stock.

Rexford Industrial Realty Stock Performance

Shares of NYSE REXR opened at $40.87 on Friday. The company has a 50-day simple moving average of $43.44 and a 200-day simple moving average of $46.63. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.20 and a quick ratio of 1.20. The company has a market cap of $9.09 billion, a PE ratio of 33.23, a price-to-earnings-growth ratio of 1.93 and a beta of 0.93. Rexford Industrial Realty, Inc. has a 12 month low of $39.85 and a 12 month high of $58.02.

Rexford Industrial Realty (NYSE:REXR) last released its earnings results on Wednesday, October 16th. The real estate investment trust reported $0.30 EPS for the quarter, missing the consensus estimate of $0.58 by ($0.28). Rexford Industrial Realty had a return on equity of 3.35% and a net margin of 30.40%. The firm had revenue of $241.84 million during the quarter, compared to analysts’ expectations of $235.81 million. During the same period in the previous year, the firm posted $0.56 earnings per share. The firm’s revenue was up 17.7% on a year-over-year basis. On average, equities analysts anticipate that Rexford Industrial Realty, Inc. will post 2.34 earnings per share for the current year.

Rexford Industrial Realty Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be paid a $0.4175 dividend. This represents a $1.67 dividend on an annualized basis and a yield of 4.09%. The ex-dividend date is Tuesday, December 31st. Rexford Industrial Realty’s payout ratio is 135.77%.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on REXR shares. Evercore ISI reaffirmed an “outperform” rating on shares of Rexford Industrial Realty in a report on Friday, October 18th. Bank of America downgraded Rexford Industrial Realty from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $66.00 to $49.00 in a research note on Monday, October 21st. Scotiabank downgraded Rexford Industrial Realty from a “sector outperform” rating to a “sector perform” rating and decreased their target price for the stock from $55.00 to $48.00 in a research report on Friday, October 25th. Wells Fargo & Company dropped their price target on Rexford Industrial Realty from $66.00 to $61.00 and set an “overweight” rating for the company in a research report on Wednesday, August 28th. Finally, StockNews.com lowered shares of Rexford Industrial Realty from a “hold” rating to a “sell” rating in a research report on Monday, October 21st. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $51.09.

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.