Connor Clark & Lunn Investment Management Ltd. Invests $2.23 Million in Rexford Industrial Realty, Inc. (NYSE:REXR)

Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of Rexford Industrial Realty, Inc. (NYSE:REXR - Free Report) during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor purchased 44,235 shares of the real estate investment trust's stock, valued at approximately $2,225,000.

Other hedge funds also recently added to or reduced their stakes in the company. Massmutual Trust Co. FSB ADV boosted its position in Rexford Industrial Realty by 169.4% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 555 shares of the real estate investment trust's stock valued at $25,000 after buying an additional 349 shares during the period. V Square Quantitative Management LLC purchased a new stake in Rexford Industrial Realty in the 2nd quarter valued at about $26,000. UMB Bank n.a. boosted its position in Rexford Industrial Realty by 164.3% in the 3rd quarter. UMB Bank n.a. now owns 719 shares of the real estate investment trust's stock valued at $36,000 after buying an additional 447 shares during the period. Headlands Technologies LLC purchased a new stake in Rexford Industrial Realty in the 2nd quarter valued at about $41,000. Finally, EverSource Wealth Advisors LLC boosted its position in Rexford Industrial Realty by 1,252.2% in the 1st quarter. EverSource Wealth Advisors LLC now owns 933 shares of the real estate investment trust's stock valued at $47,000 after buying an additional 864 shares during the period. 99.52% of the stock is currently owned by institutional investors.

Rexford Industrial Realty Stock Performance

Shares of NYSE:REXR traded down $0.53 during midday trading on Tuesday, reaching $42.35. The company's stock had a trading volume of 2,370,966 shares, compared to its average volume of 1,735,075. The firm has a market capitalization of $9.42 billion, a PE ratio of 34.86, a P/E/G ratio of 1.99 and a beta of 0.94. Rexford Industrial Realty, Inc. has a twelve month low of $41.16 and a twelve month high of $58.02. The stock has a fifty day moving average of $45.99 and a 200 day moving average of $46.99. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 0.40.

Rexford Industrial Realty (NYSE:REXR - Get Free Report) last released its quarterly earnings data on Wednesday, October 16th. The real estate investment trust reported $0.30 earnings per share for the quarter, missing analysts' consensus estimates of $0.58 by ($0.28). The business had revenue of $241.84 million during the quarter, compared to analyst estimates of $235.81 million. Rexford Industrial Realty had a return on equity of 3.35% and a net margin of 30.40%. The firm's revenue was up 17.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.56 EPS. On average, equities analysts expect that Rexford Industrial Realty, Inc. will post 2.34 EPS for the current fiscal year.

Rexford Industrial Realty Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be issued a dividend of $0.4175 per share. This represents a $1.67 dividend on an annualized basis and a yield of 3.94%. The ex-dividend date is Tuesday, December 31st. Rexford Industrial Realty's dividend payout ratio (DPR) is presently 135.77%.

Wall Street Analyst Weigh In

REXR has been the subject of several research reports. StockNews.com cut shares of Rexford Industrial Realty from a "hold" rating to a "sell" rating in a research report on Monday, October 21st. Wells Fargo & Company lowered their price target on shares of 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. Evercore ISI reaffirmed an "outperform" rating on shares of Rexford Industrial Realty in a research report on Friday, October 18th. Bank of America cut shares of Rexford Industrial Realty from a "buy" rating to a "neutral" rating and lowered their price target for the stock from $66.00 to $49.00 in a research report on Monday, October 21st. Finally, Scotiabank lowered shares of Rexford Industrial Realty from a "sector outperform" rating to a "sector perform" rating and reduced their price objective for the stock from $55.00 to $48.00 in a research note on Friday, October 25th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $51.09.

Insider Buying and Selling

In other Rexford Industrial Realty news, CFO Laura E. Clark sold 14,185 shares of the stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $50.15, for a total transaction of $711,377.75. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 1.20% of the stock is currently owned by insiders.

Rexford Industrial Realty Company Profile

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.