Connor Clark & Lunn Investment Management Ltd. increased its position in shares of Rexford Industrial Realty, Inc. (NYSE:REXR - Free Report) by 172.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 120,501 shares of the real estate investment trust's stock after purchasing an additional 76,266 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned 0.05% of Rexford Industrial Realty worth $4,659,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Paradigm Asset Management Co. LLC acquired a new position in Rexford Industrial Realty during the 4th quarter worth about $1,082,000. B. Metzler seel. Sohn & Co. Holding AG purchased a new position in shares of Rexford Industrial Realty in the 3rd quarter valued at about $3,376,000. Charles Schwab Investment Management Inc. grew its position in shares of Rexford Industrial Realty by 3.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,782,904 shares of the real estate investment trust's stock worth $107,587,000 after buying an additional 93,360 shares in the last quarter. Impax Asset Management Group plc lifted its position in shares of Rexford Industrial Realty by 63.6% during the 4th quarter. Impax Asset Management Group plc now owns 21,691 shares of the real estate investment trust's stock worth $839,000 after purchasing an additional 8,431 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its holdings in Rexford Industrial Realty by 26.9% during 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 buying an additional 954,202 shares during the last quarter. Institutional investors and hedge funds own 99.52% of the company's stock.
Rexford Industrial Realty Price Performance
Shares of NYSE:REXR traded up $0.40 on Monday, hitting $40.39. The company had a trading volume of 2,000,676 shares, compared to its average volume of 1,829,862. The company has a market cap of $9.21 billion, a PE ratio of 33.38, a PEG ratio of 2.62 and a beta of 0.98. Rexford Industrial Realty, Inc. has a 52-week low of $36.92 and a 52-week 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 business has a 50 day moving average of $40.06 and a 200 day moving average of $43.09.
Rexford Industrial Realty (NYSE:REXR - Get Free Report) last announced its quarterly earnings data on Wednesday, February 5th. The real estate investment trust reported $0.58 EPS for the quarter, beating analysts' consensus estimates of $0.27 by $0.31. Rexford Industrial Realty had a return on equity of 3.26% and a net margin of 29.10%. As a group, equities analysts anticipate 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 announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be issued a $0.43 dividend. The ex-dividend date is Monday, March 31st. This represents a $1.72 dividend on an annualized basis and a yield of 4.26%. This is a boost from Rexford Industrial Realty's previous quarterly dividend of $0.42. Rexford Industrial Realty's dividend payout ratio (DPR) is presently 142.15%.
Analyst Upgrades and Downgrades
A number of research firms have weighed in on REXR. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Rexford Industrial Realty in a report on Tuesday, January 14th. They set a "hold" rating and a $40.00 price objective on the stock. JPMorgan Chase & Co. reduced their price objective on Rexford Industrial Realty from $45.00 to $44.00 and set a "neutral" rating for the company in a research note on Thursday, February 13th. 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 research report on Monday, January 13th. Scotiabank dropped their target price on Rexford Industrial Realty from $48.00 to $47.00 and set a "sector perform" rating on the stock in a research report on Friday, February 28th. Finally, Mizuho lowered their price target 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. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $48.50.
Read Our Latest Report on REXR
Rexford Industrial Realty Profile
(
Free Report)
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.
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