Bank of New York Mellon Corp Purchases New Stake in Rexford Industrial Realty, Inc. $REXR

Key Points

• Bank of New York Mellon acquired 1.64 million Rexford Industrial Realty shares worth approximately $55.1 million, representing 0.74% of the REIT. Institutional investors and hedge funds collectively own 99.52% of the stock.
• Analyst sentiment remains mixed, with a consensus “Hold” rating and an average price target of $40.93. REXR recently traded at $37.33, below its 12-month high of $44.38.
• Rexford reported a quarterly loss of $2.26 per share, missing estimates, while revenue of $243 million slightly exceeded forecasts. The company declared a quarterly dividend of $0.435 per share, equivalent to a 4.7% annualized yield.

Bank of New York Mellon Corp acquired a new position in shares of Rexford Industrial Realty, Inc. (NYSE:REXR - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,643,450 shares of the real estate investment trust's stock, valued at approximately $55,056,000. Bank of New York Mellon Corp owned 0.74% of Rexford Industrial Realty as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the company. Soroban Capital Partners LP raised its position in shares of Rexford Industrial Realty by 57.2% in the 2nd quarter. Soroban Capital Partners LP now owns 9,191,038 shares of the real estate investment trust's stock valued at $326,925,000 after buying an additional 3,344,677 shares in the last quarter. Royal London Asset Management Ltd. acquired a new stake in shares of Rexford Industrial Realty during the 2nd quarter worth approximately $91,671,000. Norges Bank bought a new position in Rexford Industrial Realty in the fourth quarter valued at approximately $73,777,000. Principal Financial Group Inc. increased its stake in Rexford Industrial Realty by 19.5% in the fourth quarter. Principal Financial Group Inc. now owns 11,518,739 shares of the real estate investment trust's stock valued at $446,006,000 after acquiring an additional 1,881,905 shares during the last quarter. Finally, Cibc World Markets Corp acquired a new position in Rexford Industrial Realty during the fourth quarter valued at approximately $44,853,000. 99.52% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have weighed in on REXR. Cantor Fitzgerald reaffirmed an "overweight" rating on shares of Rexford Industrial Realty in a report on Monday, July 27th. Evercore reissued an "outperform" rating on shares of Rexford Industrial Realty in a report on Monday, July 27th. Barclays dropped their price objective on Rexford Industrial Realty from $40.00 to $36.00 and set an "underweight" rating for the company in a research report on Thursday, July 16th. Scotiabank reaffirmed an "outperform" rating on shares of Rexford Industrial Realty in a report on Wednesday, August 12th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Rexford Industrial Realty from $36.00 to $39.00 and gave the stock an "underweight" rating in a research report on Monday, August 3rd. Five investment analysts have rated the stock with a Buy rating, six have given a Hold rating and four have issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $40.93.

Rexford Industrial Realty Stock Performance

Shares of REXR stock opened at $37.33 on Thursday. The firm has a market capitalization of $8.32 billion, a price-to-earnings ratio of -20.62 and a beta of 1.19. The company has a current ratio of 1.70, a quick ratio of 1.70 and a debt-to-equity ratio of 0.42. The business's 50-day moving average price is $35.96 and its 200-day moving average price is $35.66. Rexford Industrial Realty, Inc. has a 12 month low of $32.14 and a 12 month high of $44.38.

Rexford Industrial Realty (NYSE:REXR - Get Free Report) last issued its quarterly earnings data on Thursday, July 23rd. The real estate investment trust reported ($2.26) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.60 by ($2.86). Rexford Industrial Realty had a negative net margin of 39.22% and a negative return on equity of 4.61%. The business had revenue of $243.00 million during the quarter, compared to the consensus estimate of $240.24 million. During the same quarter last year, the business earned $0.59 EPS. The firm's quarterly revenue was down 1.6% compared to the same quarter last year. Rexford Industrial Realty has set its FY 2026 guidance at 2.380-2.430 EPS. Equities research analysts forecast that Rexford Industrial Realty, Inc. will post 2.39 EPS for the current year.

Rexford Industrial Realty Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Wednesday, September 30th will be issued a dividend of $0.435 per share. This represents a $1.74 dividend on an annualized basis and a dividend yield of 4.7%. The ex-dividend date is Wednesday, September 30th. Rexford Industrial Realty's payout ratio is -96.13%.

About Rexford Industrial Realty

Rexford Industrial Realty, Inc NYSE: REXR is a real estate investment trust (REIT) specializing in the acquisition, ownership and operation of industrial properties in Southern California. The company's portfolio is concentrated in infill locations across key supply-chain markets, where it targets modern distribution centers, logistics facilities and light manufacturing spaces. Rexford's strategy emphasizes buildings that offer proximity to major transportation routes and labor pools, catering to tenants in e-commerce, third-party logistics and manufacturing industries.

Since its founding in 2013, Rexford Industrial Realty has executed a disciplined growth plan driven by property acquisitions, selective development projects and strategic value-add initiatives.

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