Lazard Asset Management LLC Purchases New Position in Rexford Industrial Realty, Inc. (NYSE:REXR)

Lazard Asset Management LLC purchased a new stake in shares of Rexford Industrial Realty, Inc. (NYSE:REXR - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 24,863 shares of the real estate investment trust's stock, valued at approximately $961,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. UMB Bank n.a. lifted its position in 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 worth $39,000 after purchasing an additional 280 shares during the period. Utah Retirement Systems lifted its holdings in shares of Rexford Industrial Realty by 0.8% in the fourth quarter. Utah Retirement Systems now owns 36,000 shares of the real estate investment trust's stock valued at $1,392,000 after buying an additional 300 shares during the period. CIBC Asset Management Inc lifted its holdings in shares of Rexford Industrial Realty by 5.7% in the fourth quarter. CIBC Asset Management Inc now owns 6,572 shares of the real estate investment trust's stock valued at $254,000 after buying an additional 355 shares during the period. Exchange Traded Concepts LLC grew its holdings in Rexford Industrial Realty by 13.2% during the fourth quarter. Exchange Traded Concepts LLC now owns 3,172 shares of the real estate investment trust's stock worth $123,000 after acquiring an additional 371 shares during the period. Finally, Isthmus Partners LLC grew its holdings in Rexford Industrial Realty by 7.3% during the fourth quarter. Isthmus Partners LLC now owns 6,887 shares of the real estate investment trust's stock worth $266,000 after acquiring an additional 469 shares during the period. 99.52% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on REXR. Evercore ISI cut their price target 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. Barclays dropped their target price on shares of Rexford Industrial Realty from $38.00 to $35.00 and set an "underweight" rating on the stock in a report on Wednesday, April 30th. Industrial Alliance Securities set a $38.00 target price on shares of Rexford Industrial Realty in a report on Tuesday, March 25th. JPMorgan Chase & Co. dropped their price target on Rexford Industrial Realty from $44.00 to $37.00 and set a "neutral" rating on the stock in a report on Thursday, April 24th. Finally, Wells Fargo & Company cut their price objective on Rexford Industrial Realty from $45.00 to $39.00 and set an "overweight" rating for the company in a research report on Monday, May 19th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $40.00.

Rexford Industrial Realty Stock Up 0.4%

Shares of REXR traded up $0.14 during mid-day trading on Monday, reaching $34.68. The company's stock had a trading volume of 3,734,459 shares, compared to its average volume of 1,980,453. The company has a market cap of $8.21 billion, a price-to-earnings ratio of 28.66, a price-to-earnings-growth ratio of 2.62 and a beta of 1.12. The business has a fifty day moving average of $34.91 and a 200 day moving average of $38.44. The company has a quick ratio of 1.30, a current ratio of 1.30 and a debt-to-equity ratio of 0.39. Rexford Industrial Realty, Inc. has a 1 year low of $29.68 and a 1 year high of $52.61.

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

Rexford Industrial Realty Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th will be given a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a dividend yield of 4.96%. The ex-dividend date is Monday, June 30th. Rexford Industrial Realty's dividend payout ratio (DPR) is 138.71%.

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.