Balyasny Asset Management L.P. Invests $7.61 Million in Rexford Industrial Realty, Inc. (NYSE:REXR)

Balyasny Asset Management L.P. purchased a new stake in shares of Rexford Industrial Realty, Inc. (NYSE:REXR - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 196,703 shares of the real estate investment trust's stock, valued at approximately $7,605,000. Balyasny Asset Management L.P. owned approximately 0.09% of Rexford Industrial Realty at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. Quantbot Technologies LP acquired a new stake in shares of Rexford Industrial Realty during the fourth quarter worth about $33,000. UMB Bank n.a. boosted its stake in shares of Rexford Industrial Realty by 38.9% in the fourth quarter. UMB Bank n.a. now owns 999 shares of the real estate investment trust's stock valued at $39,000 after buying an additional 280 shares in the last quarter. Whittier Trust Co. of Nevada Inc. boosted its stake in shares of Rexford Industrial Realty by 515.7% during the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 1,490 shares of the real estate investment trust's stock worth $58,000 after acquiring an additional 1,248 shares in the last quarter. Pilgrim Partners Asia Pte Ltd acquired a new stake in shares of Rexford Industrial Realty in the fourth quarter valued at approximately $65,000. Finally, SRS Capital Advisors Inc. boosted its stake in shares of Rexford Industrial Realty by 4,104.5% during the 4th quarter. SRS Capital Advisors Inc. now owns 2,775 shares of the real estate investment trust's stock worth $107,000 after purchasing an additional 2,709 shares during the last quarter. 99.52% of the stock is owned by institutional investors and hedge funds.

Rexford Industrial Realty Price Performance

REXR traded up $1.74 during trading on Monday, hitting $35.92. 3,448,422 shares of the company traded hands, compared to its average volume of 1,931,420. Rexford Industrial Realty, Inc. has a 1 year low of $29.68 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 stock's 50-day simple moving average is $36.02 and its two-hundred day simple moving average is $39.07. The company has a market cap of $8.50 billion, a PE ratio of 29.69, a P/E/G ratio of 2.62 and a beta of 1.12.

Rexford Industrial Realty (NYSE:REXR - Get Free Report) last announced its earnings results on Wednesday, April 16th. The real estate investment trust reported $0.62 earnings per share for the quarter, topping the consensus estimate of $0.57 by $0.05. The firm had revenue of $248.82 million for the quarter, compared to the consensus estimate of $246.74 million. Rexford Industrial Realty had a return on equity of 3.26% and a net margin of 29.10%. As a group, sell-side analysts anticipate that Rexford Industrial Realty, Inc. will post 2.38 earnings per share for the current fiscal year.

Rexford Industrial Realty Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th will be issued a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a yield of 4.79%. The ex-dividend date is Monday, June 30th. Rexford Industrial Realty's dividend payout ratio (DPR) is 138.71%.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. Industrial Alliance Securities set a $38.00 price objective on Rexford Industrial Realty in a research note on Tuesday, March 25th. JPMorgan Chase & Co. cut their target price on Rexford Industrial Realty from $44.00 to $37.00 and set a "neutral" rating for the company in a research report on Thursday, April 24th. Scotiabank decreased their price objective on shares of Rexford Industrial Realty from $39.00 to $37.00 and set a "sector perform" rating for the company in a research note on Monday. Evercore ISI decreased their price objective on shares of Rexford Industrial Realty from $43.00 to $40.00 and set an "outperform" rating for the company in a report on Monday, April 21st. Finally, Barclays decreased their price objective on Rexford Industrial Realty from $38.00 to $35.00 and set an "underweight" rating on the stock in a report on Wednesday, April 30th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $42.00.

Rexford Industrial Realty Company Profile

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.