Connor Clark & Lunn Investment Management Ltd. Acquires 76,266 Shares of Rexford Industrial Realty, Inc. (NYSE:REXR)

Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of Rexford Industrial Realty, Inc. (NYSE:REXR - Free Report) by 172.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 120,501 shares of the real estate investment trust's stock after acquiring an additional 76,266 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned about 0.05% of Rexford Industrial Realty worth $4,659,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in REXR. Assetmark Inc. lifted its stake in shares of Rexford Industrial Realty by 19.8% in the 3rd quarter. Assetmark Inc. now owns 5,669 shares of the real estate investment trust's stock worth $285,000 after purchasing an additional 938 shares during the period. Oppenheimer Asset Management Inc. lifted its stake in shares of Rexford Industrial Realty by 22.0% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 32,012 shares of the real estate investment trust's stock worth $1,611,000 after purchasing an additional 5,778 shares during the period. Metis Global Partners LLC raised its stake in Rexford Industrial Realty by 30.7% during the 3rd quarter. Metis Global Partners LLC now owns 22,547 shares of the real estate investment trust's stock worth $1,134,000 after acquiring an additional 5,295 shares during the period. Impax Asset Management Group plc bought a new stake in Rexford Industrial Realty during the 3rd quarter worth approximately $667,000. Finally, Thrivent Financial for Lutherans raised its stake in Rexford Industrial Realty by 160.9% during the 3rd quarter. Thrivent Financial for Lutherans now owns 270,164 shares of the real estate investment trust's stock worth $13,592,000 after acquiring an additional 166,604 shares during the period. Institutional investors own 99.52% of the company's stock.

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Rexford Industrial Realty Price Performance

Shares of REXR stock traded up $0.33 on Tuesday, reaching $40.71. The company's stock had a trading volume of 627,733 shares, compared to its average volume of 2,083,839. The stock's fifty day simple moving average is $40.09 and its 200-day simple moving average is $43.02. Rexford Industrial Realty, Inc. has a 1 year low of $36.92 and a 1 year high of $52.61. 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 company has a market capitalization of $9.28 billion, a price-to-earnings ratio of 33.65, a price-to-earnings-growth ratio of 2.62 and a beta of 0.98.

Rexford Industrial Realty (NYSE:REXR - Get Free Report) last posted its earnings results on Wednesday, February 5th. The real estate investment trust reported $0.58 earnings per share 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%. Analysts forecast that Rexford Industrial Realty, Inc. will post 2.38 earnings per share for the current fiscal year.

Rexford Industrial Realty Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders 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 4.22%. 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. Rexford Industrial Realty's payout ratio is presently 142.15%.

Wall Street Analysts Forecast Growth

A number of research firms have commented on REXR. Mizuho decreased their target price on shares of Rexford Industrial Realty from $46.00 to $45.00 and set a "neutral" rating on the stock in a research note on Wednesday, January 8th. Robert W. Baird cut their price objective on shares of Rexford Industrial Realty from $48.00 to $47.00 and set a "neutral" rating for the company in a report on Tuesday, March 4th. Barclays cut their price objective on shares of Rexford Industrial Realty from $44.00 to $41.00 and set an "underweight" rating for the company in a report on Monday, January 13th. JPMorgan Chase & Co. cut their price objective on shares of Rexford Industrial Realty from $45.00 to $44.00 and set a "neutral" rating for the company in a report on Thursday, February 13th. Finally, Scotiabank cut their price objective on shares of Rexford Industrial Realty from $48.00 to $47.00 and set a "sector perform" rating for the company in a report on Friday, February 28th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $48.50.

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.