Lazard Asset Management LLC Invests $961,000 in Rexford Industrial Realty, Inc. (NYSE:REXR)

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

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in REXR. UMB Bank n.a. raised its holdings in Rexford Industrial Realty by 38.9% in the 4th 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 in the last quarter. Utah Retirement Systems increased its position in shares of Rexford Industrial Realty by 0.8% during 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 increased its position in shares of Rexford Industrial Realty by 5.7% during 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 raised its stake in Rexford Industrial Realty by 13.2% in the fourth quarter. Exchange Traded Concepts LLC now owns 3,172 shares of the real estate investment trust's stock worth $123,000 after buying an additional 371 shares in the last quarter. Finally, Isthmus Partners LLC raised its stake in Rexford Industrial Realty by 7.3% in the fourth quarter. Isthmus Partners LLC now owns 6,887 shares of the real estate investment trust's stock worth $266,000 after buying an additional 469 shares in the last quarter. Hedge funds and other institutional investors own 99.52% of the company's stock.

Rexford Industrial Realty Stock Performance

Shares of REXR stock opened at $35.12 on Wednesday. The company has a market capitalization of $8.31 billion, a price-to-earnings ratio of 29.02, a price-to-earnings-growth ratio of 2.62 and a beta of 1.12. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.30 and a current ratio of 1.30. Rexford Industrial Realty, Inc. has a one year low of $29.68 and a one year high of $52.61. The company's 50-day moving average is $35.39 and its 200 day moving average is $38.71.

Rexford Industrial Realty (NYSE:REXR - Get Free Report) last posted its quarterly earnings results on Wednesday, April 16th. The real estate investment trust reported $0.62 EPS for the quarter, beating analysts' consensus estimates of $0.57 by $0.05. The firm had revenue of $248.82 million for the quarter, compared to analysts' expectations of $246.74 million. Rexford Industrial Realty had a net margin of 29.10% and a return on equity of 3.26%. Sell-side analysts expect that Rexford Industrial Realty, Inc. will post 2.38 EPS 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. Stockholders of record on Monday, June 30th will be paid a $0.43 dividend. This represents a $1.72 annualized dividend and a dividend yield of 4.90%. The ex-dividend date of this dividend is Monday, June 30th. Rexford Industrial Realty's dividend payout ratio is currently 138.71%.

Analyst Ratings Changes

Several research firms have weighed in on REXR. Barclays cut their price objective on Rexford Industrial Realty from $38.00 to $35.00 and set an "underweight" rating on the stock in a research report on Wednesday, April 30th. Robert W. Baird set a $43.00 price target on Rexford Industrial Realty in a research report on Tuesday, May 6th. Scotiabank reduced their price target on Rexford Industrial Realty from $39.00 to $37.00 and set a "sector perform" rating on the stock in a research note on Monday, May 12th. Evercore ISI lowered their price objective on Rexford Industrial Realty from $43.00 to $40.00 and set an "outperform" rating for the company in a research report on Monday, April 21st. Finally, Truist Financial dropped their target price on shares of Rexford Industrial Realty from $44.00 to $37.00 and set a "buy" rating on the stock in a report on Thursday, May 1st. Two analysts have rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, Rexford Industrial Realty presently has a consensus rating of "Hold" and an average target price of $40.00.

Rexford Industrial Realty 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.

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