Bank of New York Mellon Corp Has $70.07 Million Stake in Rexford Industrial Realty, Inc. (NYSE:REXR)

Bank of New York Mellon Corp boosted its stake in shares of Rexford Industrial Realty, Inc. (NYSE:REXR - Free Report) by 0.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,789,826 shares of the real estate investment trust's stock after purchasing an additional 12,764 shares during the quarter. Bank of New York Mellon Corp owned about 0.76% of Rexford Industrial Realty worth $70,072,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Proficio Capital Partners LLC acquired a new position in Rexford Industrial Realty in the fourth quarter valued at about $417,000. Raymond James Financial Inc. acquired a new position in Rexford Industrial Realty in the fourth quarter valued at about $11,830,000. Amundi raised its stake in Rexford Industrial Realty by 0.8% in the fourth quarter. Amundi now owns 119,708 shares of the real estate investment trust's stock valued at $4,579,000 after purchasing an additional 956 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Rexford Industrial Realty by 50.3% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 139,566 shares of the real estate investment trust's stock valued at $5,396,000 after purchasing an additional 46,703 shares in the last quarter. Finally, EverSource Wealth Advisors LLC raised its stake in Rexford Industrial Realty by 441.2% during the fourth quarter. EverSource Wealth Advisors LLC now owns 5,017 shares of the real estate investment trust's stock worth $194,000 after acquiring an additional 4,090 shares in the last quarter. 99.52% of the stock is owned by institutional investors.

Rexford Industrial Realty Trading Down 2.3%

REXR stock traded down $0.86 during trading on Tuesday, hitting $36.21. The company had a trading volume of 4,993,889 shares, compared to its average volume of 2,204,220. The business has a 50-day moving average of $35.86 and a 200-day moving average of $37.34. Rexford Industrial Realty, Inc. has a one year low of $29.68 and a one year high of $52.61. The stock has a market cap of $8.57 billion, a PE ratio of 29.20, a PEG ratio of 3.40 and a beta of 1.13. The company has a current ratio of 4.90, a quick ratio of 4.90 and a debt-to-equity ratio of 0.37.

Rexford Industrial Realty (NYSE:REXR - Get Free Report) last announced its earnings results on Wednesday, April 16th. The real estate investment trust reported $0.62 EPS for the quarter, beating the consensus estimate of $0.57 by $0.05. Rexford Industrial Realty had a return on equity of 3.31% and a net margin of 28.96%. The business had revenue of $248.82 million for the quarter, compared to analysts' expectations of $246.74 million. Research analysts predict 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 announced a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Monday, June 30th will be issued a $0.43 dividend. This represents a $1.72 annualized dividend and a yield of 4.75%. The ex-dividend date is Monday, June 30th. Rexford Industrial Realty's payout ratio is presently 138.71%.

Wall Street Analysts Forecast Growth

REXR has been the topic of several research reports. JPMorgan Chase & Co. decreased their price target on shares of Rexford Industrial Realty from $44.00 to $37.00 and set a "neutral" rating on the stock in a report on Thursday, April 24th. Industrial Alliance Securities set a $38.00 price objective on shares of Rexford Industrial Realty in a research report on Tuesday, March 25th. Truist Financial lowered their price objective on shares of Rexford Industrial Realty from $44.00 to $37.00 and set a "buy" rating for the company in a research report on Thursday, May 1st. Wells Fargo & Company lowered their price objective on shares of 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. Finally, Barclays lowered their price objective on shares of Rexford Industrial Realty from $38.00 to $35.00 and set an "underweight" rating for the company in a research report on Wednesday, April 30th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $40.00.

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.