Bank of New York Mellon Corp Trims Holdings in Rexford Industrial Realty Inc (NYSE:REXR)

Bank of New York Mellon Corp lowered its position in shares of Rexford Industrial Realty Inc (NYSE:REXR) by 4.0% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 689,755 shares of the real estate investment trust’s stock after selling 28,614 shares during the quarter. Bank of New York Mellon Corp owned about 0.74% of Rexford Industrial Realty worth $20,326,000 as of its most recent filing with the SEC.

Several other large investors have also recently modified their holdings of REXR. Whittier Trust Co. raised its position in shares of Rexford Industrial Realty by 99.2% in the 4th quarter. Whittier Trust Co. now owns 1,243 shares of the real estate investment trust’s stock valued at $37,000 after purchasing an additional 619 shares in the last quarter. Rehmann Capital Advisory Group raised its position in shares of Rexford Industrial Realty by 3,095.8% during the 3rd quarter. Rehmann Capital Advisory Group now owns 5,305 shares of the real estate investment trust’s stock valued at $166,000 after acquiring an additional 5,139 shares in the last quarter. Federated Investors Inc. PA raised its position in shares of Rexford Industrial Realty by 50.7% during the 3rd quarter. Federated Investors Inc. PA now owns 6,608 shares of the real estate investment trust’s stock valued at $212,000 after acquiring an additional 2,222 shares in the last quarter. D.A. Davidson & CO. raised its position in shares of Rexford Industrial Realty by 6.5% during the 4th quarter. D.A. Davidson & CO. now owns 7,110 shares of the real estate investment trust’s stock valued at $210,000 after acquiring an additional 435 shares in the last quarter. Finally, Vident Investment Advisory LLC bought a new position in Rexford Industrial Realty during the 3rd quarter worth $287,000. Institutional investors and hedge funds own 99.76% of the company’s stock.

REXR has been the subject of a number of recent research reports. Wells Fargo & Co upped their price objective on Rexford Industrial Realty from $32.00 to $37.00 and gave the stock a “market perform” rating in a research note on Thursday, March 14th. They noted that the move was a valuation call. Zacks Investment Research upgraded Rexford Industrial Realty from a “hold” rating to a “buy” rating and set a $33.00 price objective for the company in a research note on Friday, December 28th. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $36.25.

REXR stock traded up $0.56 during trading hours on Friday, hitting $36.30. 365,898 shares of the stock traded hands, compared to its average volume of 563,932. Rexford Industrial Realty Inc has a one year low of $28.17 and a one year high of $37.53. The stock has a market capitalization of $3.78 billion, a P/E ratio of 32.41, a P/E/G ratio of 4.21 and a beta of 0.87. The company has a quick ratio of 8.81, a current ratio of 8.81 and a debt-to-equity ratio of 0.43.

Rexford Industrial Realty (NYSE:REXR) last announced its earnings results on Tuesday, February 12th. The real estate investment trust reported $0.29 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.27 by $0.02. Rexford Industrial Realty had a return on equity of 2.98% and a net margin of 21.82%. The business had revenue of $56.13 million during the quarter, compared to analysts’ expectations of $55.81 million. During the same quarter last year, the business posted $0.26 earnings per share. The company’s quarterly revenue was up 22.6% on a year-over-year basis. On average, sell-side analysts anticipate that Rexford Industrial Realty Inc will post 1.18 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Friday, March 29th were issued a dividend of $0.185 per share. This represents a $0.74 annualized dividend and a dividend yield of 2.04%. This is an increase from Rexford Industrial Realty’s previous quarterly dividend of $0.16. The ex-dividend date of this dividend was Thursday, March 28th. Rexford Industrial Realty’s dividend payout ratio is currently 66.07%.

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Rexford Industrial Realty Profile

Rexford Industrial is a real estate investment trust focused on owning and operating industrial properties in Southern California infill markets. The Company owns 179 properties with approximately 22.1 million rentable square feet and manages an additional 20 properties with approximately 1.2 million rentable square feet.

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Institutional Ownership by Quarter for Rexford Industrial Realty (NYSE:REXR)

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