Bank of New York Mellon Corp Buys 23,736 Shares of Rexford Industrial Realty, Inc. (NYSE:REXR)

Bank of New York Mellon Corp lifted its stake in shares of Rexford Industrial Realty, Inc. (NYSE:REXR) by 1.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,777,062 shares of the real estate investment trust’s stock after acquiring an additional 23,736 shares during the quarter. Bank of New York Mellon Corp’s holdings in Rexford Industrial Realty were worth $68,701,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in REXR. UMB Bank n.a. increased its position in Rexford Industrial Realty by 38.9% during the 4th quarter. UMB Bank n.a. now owns 999 shares of the real estate investment trust’s stock valued at $39,000 after purchasing an additional 280 shares during the period. Archer Investment Corp increased its position in shares of Rexford Industrial Realty by 61.5% during the third quarter. Archer Investment Corp now owns 2,100 shares of the real estate investment trust’s stock worth $106,000 after buying an additional 800 shares during the period. Catalyst Capital Advisors LLC acquired a new stake in shares of Rexford Industrial Realty during the third quarter worth $129,000. International Assets Investment Management LLC raised its stake in Rexford Industrial Realty by 4,835.8% during the third quarter. International Assets Investment Management LLC now owns 2,616 shares of the real estate investment trust’s stock worth $132,000 after buying an additional 2,563 shares during the last quarter. Finally, Quarry LP lifted its holdings in Rexford Industrial Realty by 239.6% in the third quarter. Quarry LP now owns 2,649 shares of the real estate investment trust’s stock valued at $133,000 after buying an additional 1,869 shares during the period. 99.52% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on REXR. Mizuho decreased their price target on Rexford Industrial Realty from $46.00 to $45.00 and set a “neutral” rating for the company in a report on Wednesday, January 8th. Truist Financial decreased their target price on Rexford Industrial Realty from $54.00 to $50.00 and set a “buy” rating for the company in a research note on Tuesday, November 12th. JPMorgan Chase & Co. dropped their price target on Rexford Industrial Realty from $45.00 to $44.00 and set a “neutral” rating on the stock in a research note on Thursday, February 13th. Scotiabank reduced their price objective on shares of Rexford Industrial Realty from $48.00 to $47.00 and set a “sector perform” rating for the company in a research report on Friday. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on shares of Rexford Industrial Realty in a research note on Tuesday, January 14th. They issued a “hold” rating and a $40.00 price objective for the company. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $48.67.

Rexford Industrial Realty Stock Performance

Shares of REXR stock opened at $41.07 on Tuesday. 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 firm has a fifty day simple moving average of $39.82 and a two-hundred day simple moving average of $43.81. Rexford Industrial Realty, Inc. has a 12 month low of $36.92 and a 12 month high of $53.88. The firm has a market capitalization of $9.36 billion, a PE ratio of 33.94, a price-to-earnings-growth ratio of 2.62 and a beta of 0.95.

Rexford Industrial Realty (NYSE:REXR) last posted its earnings results on Wednesday, February 5th. The real estate investment trust reported $0.58 EPS for the quarter, topping the consensus estimate of $0.27 by $0.31. Rexford Industrial Realty had a net margin of 29.10% and a return on equity of 3.26%. Analysts forecast that Rexford Industrial Realty, Inc. will post 2.38 EPS for the current fiscal year.

Rexford Industrial Realty Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be paid a $0.43 dividend. The ex-dividend date of this dividend is Monday, March 31st. This is an increase from Rexford Industrial Realty’s previous quarterly dividend of $0.42. This represents a $1.72 annualized dividend and a dividend yield of 4.19%. Rexford Industrial Realty’s dividend payout ratio is 142.15%.

About Rexford Industrial Realty

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.