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 Rexford Industrial Realty, Inc. (NYSE:REXR) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 44,235 shares of the real estate investment trust’s stock, valued at approximately $2,225,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Fulton Bank N.A. lifted its position in shares of Rexford Industrial Realty by 4.7% during the third quarter. Fulton Bank N.A. now owns 5,038 shares of the real estate investment trust’s stock worth $253,000 after purchasing an additional 224 shares in the last quarter. Hennion & Walsh Asset Management Inc. grew its stake in 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 acquiring an additional 337 shares during the period. Victory Capital Management Inc. increased its holdings in shares of Rexford Industrial Realty by 0.8% in the second quarter. Victory Capital Management Inc. now owns 46,066 shares of the real estate investment trust’s stock worth $2,054,000 after acquiring an additional 345 shares in the last quarter. Massmutual Trust Co. FSB ADV increased its stake in Rexford Industrial Realty by 169.4% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 555 shares of the real estate investment trust’s stock worth $25,000 after purchasing an additional 349 shares in the last quarter. Finally, Naviter Wealth LLC raised its holdings in Rexford Industrial Realty by 2.6% during the 3rd quarter. Naviter Wealth LLC now owns 14,907 shares of the real estate investment trust’s stock worth $756,000 after buying an additional 382 shares during the period. Institutional investors and hedge funds own 99.52% of the company’s stock.

Analysts Set New Price Targets

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

Rexford Industrial Realty Stock Up 1.9 %

Shares of NYSE REXR opened at $42.88 on Tuesday. The stock’s fifty day moving average is $46.16 and its 200 day moving average is $47.01. The stock has a market capitalization of $9.54 billion, a P/E ratio of 34.86, a PEG ratio of 1.99 and a beta of 0.94. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.20 and a current ratio of 1.20. Rexford Industrial Realty, Inc. has a 52 week low of $41.16 and a 52 week high of $58.02.

Rexford Industrial Realty (NYSE:REXR) last posted its quarterly earnings results on Wednesday, October 16th. The real estate investment trust reported $0.30 EPS for the quarter, missing analysts’ consensus estimates 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 business had revenue of $241.84 million for the quarter, compared to analyst estimates of $235.81 million. During the same period last year, the firm posted $0.56 EPS. Rexford Industrial Realty’s quarterly revenue was up 17.7% on a year-over-year basis. Sell-side analysts forecast that Rexford Industrial Realty, Inc. will post 2.34 earnings per share 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. Stockholders 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 dividend yield of 3.89%. The ex-dividend date of this dividend is Tuesday, December 31st. Rexford Industrial Realty’s payout ratio is 135.77%.

Insider Buying and Selling at Rexford Industrial Realty

In other Rexford Industrial Realty news, CFO Laura E. Clark sold 14,185 shares of the company’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $50.15, for a total value of $711,377.75. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 1.20% of the company’s stock.

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.