Lazard Asset Management LLC purchased a new stake in Rexford Industrial Realty Inc (NYSE:REXR) in the 4th quarter, HoldingsChannel.com reports. The fund purchased 38,565 shares of the real estate investment trust’s stock, valued at approximately $1,124,000.
Other large investors also recently bought and sold shares of the company. Advisor Group Inc. increased its holdings in shares of Rexford Industrial Realty by 87.0% in the third quarter. Advisor Group Inc. now owns 7,083 shares of the real estate investment trust’s stock valued at $203,000 after purchasing an additional 3,296 shares during the last quarter. Eaton Vance Management acquired a new stake in shares of Rexford Industrial Realty in the fourth quarter valued at approximately $229,000. BB&T Securities LLC acquired a new stake in shares of Rexford Industrial Realty in the third quarter valued at approximately $231,000. Miracle Mile Advisors LLC acquired a new stake in shares of Rexford Industrial Realty in the fourth quarter valued at approximately $317,000. Finally, Exane Derivatives increased its holdings in shares of Rexford Industrial Realty by 473,133.3% in the fourth quarter. Exane Derivatives now owns 14,197 shares of the real estate investment trust’s stock valued at $414,000 after purchasing an additional 14,194 shares during the last quarter.
REXR has been the subject of several recent research reports. JPMorgan Chase & Co. cut Rexford Industrial Realty from a “neutral” rating to an “underweight” rating and set a $29.00 price target for the company. in a report on Friday, December 15th. National Securities reaffirmed a “buy” rating and issued a $34.00 price target on shares of Rexford Industrial Realty in a report on Monday, November 27th. Zacks Investment Research raised Rexford Industrial Realty from a “hold” rating to a “buy” rating and set a $33.00 price target for the company in a report on Thursday, January 4th. B. Riley set a $30.00 price target on Rexford Industrial Realty and gave the company a “hold” rating in a report on Tuesday, February 20th. Finally, DA Davidson reaffirmed a “buy” rating on shares of Rexford Industrial Realty in a report on Wednesday, February 14th. One analyst has rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $30.70.
Rexford Industrial Realty (NYSE:REXR) last issued its quarterly earnings data on Tuesday, February 13th. The real estate investment trust reported $0.15 earnings per share for the quarter, missing the consensus estimate of $0.25 by ($0.10). The business had revenue of $45.88 million during the quarter, compared to analysts’ expectations of $45.29 million. Rexford Industrial Realty had a return on equity of 3.83% and a net margin of 25.23%. analysts anticipate that Rexford Industrial Realty Inc will post 1.04 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 16th. Investors of record on Friday, March 30th will be given a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 2.25%. This is a positive change from Rexford Industrial Realty’s previous quarterly dividend of $0.15. The ex-dividend date is Wednesday, March 28th. Rexford Industrial Realty’s dividend payout ratio is presently 120.83%.
Rexford Industrial Realty Company Profile
Rexford Industrial Realty, Inc is a self-administered and self-managed full-service real estate investment trust (REIT). The Company is focused on owning, operating and acquiring industrial properties in Southern California infill markets. Rexford Industrial Realty, L.P. is the operating partnership of the Company.
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