Rexford Industrial Realty, Inc. (NYSE:REXR) Shares Acquired by Bank of New York Mellon Corp

Bank of New York Mellon Corp lifted its holdings in Rexford Industrial Realty, Inc. (NYSE:REXR - Free Report) by 1.4% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,777,062 shares of the real estate investment trust's stock after purchasing an additional 23,736 shares during the quarter. Bank of New York Mellon Corp owned 0.80% of Rexford Industrial Realty worth $68,701,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Paradigm Asset Management Co. LLC purchased a new stake in Rexford Industrial Realty in the fourth quarter worth $1,082,000. B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in shares of Rexford Industrial Realty in the 3rd quarter worth $3,376,000. Asset Management One Co. Ltd. grew its position in shares of Rexford Industrial Realty by 15.8% during the 3rd quarter. Asset Management One Co. Ltd. now owns 471,682 shares of the real estate investment trust's stock worth $23,730,000 after buying an additional 64,264 shares in the last quarter. Impax Asset Management Group plc boosted its stake in shares of Rexford Industrial Realty by 63.6% during the fourth quarter. Impax Asset Management Group plc now owns 21,691 shares of the real estate investment trust's stock valued at $839,000 after purchasing an additional 8,431 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its stake in Rexford Industrial Realty by 26.9% in the third quarter. JPMorgan Chase & Co. now owns 4,503,571 shares of the real estate investment trust's stock worth $226,575,000 after buying an additional 954,202 shares in the last quarter. 99.52% of the stock is owned by hedge funds and other institutional investors.

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Rexford Industrial Realty Stock Performance

Rexford Industrial Realty stock traded down $0.15 during mid-day trading on Friday, hitting $40.59. The company had a trading volume of 953,004 shares, compared to its average volume of 1,972,956. The company has a market capitalization of $9.25 billion, a price-to-earnings ratio of 33.60, a P/E/G ratio of 2.62 and a beta of 0.98. Rexford Industrial Realty, Inc. has a 12-month low of $36.92 and a 12-month high of $53.88. The company's fifty day moving average is $39.95 and its 200-day moving average is $43.70. The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 0.39.

Rexford Industrial Realty (NYSE:REXR - Get Free Report) last posted its earnings results on Wednesday, February 5th. The real estate investment trust reported $0.58 EPS for the quarter, beating analysts' consensus estimates of $0.27 by $0.31. Rexford Industrial Realty had a return on equity of 3.26% and a net margin of 29.10%. Equities research analysts predict that Rexford Industrial Realty, Inc. will post 2.38 EPS for the current year.

Rexford Industrial Realty Increases Dividend

The company also recently declared 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 is Monday, March 31st. This is a positive change from Rexford Industrial Realty's previous quarterly dividend of $0.42. This represents a $1.72 dividend on an annualized basis and a dividend yield of 4.24%. Rexford Industrial Realty's payout ratio is currently 142.15%.

Analysts Set New Price Targets

REXR has been the topic of several analyst reports. Barclays cut their target price on Rexford Industrial Realty from $44.00 to $41.00 and set an "underweight" rating on the stock in a research note on Monday, January 13th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Rexford Industrial Realty in a research report on Tuesday, January 14th. They issued a "hold" rating and a $40.00 price objective on the stock. Truist Financial lowered their target price on shares of 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. decreased their price objective on Rexford Industrial Realty from $45.00 to $44.00 and set a "neutral" rating for the company in a report on Thursday, February 13th. Finally, Robert W. Baird dropped their target price on Rexford Industrial Realty from $48.00 to $47.00 and set a "neutral" rating on the stock in a research note on Tuesday. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Hold" and an average target price of $48.50.

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.