Bank of New York Mellon Corp increased its position in shares of Rexford Industrial Realty Inc (NYSE:REXR) by 4.9% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 656,883 shares of the real estate investment trust’s stock after buying an additional 30,630 shares during the quarter. Bank of New York Mellon Corp owned about 0.81% of Rexford Industrial Realty worth $20,620,000 at the end of the most recent quarter.
A number of other hedge funds have also recently bought and sold shares of REXR. BlackRock Inc. raised its stake in Rexford Industrial Realty by 13.3% during the 1st quarter. BlackRock Inc. now owns 7,971,391 shares of the real estate investment trust’s stock worth $229,496,000 after buying an additional 933,568 shares during the period. JPMorgan Chase & Co. raised its stake in Rexford Industrial Realty by 87.4% during the 1st quarter. JPMorgan Chase & Co. now owns 1,174,789 shares of the real estate investment trust’s stock worth $33,822,000 after buying an additional 547,838 shares during the period. Schroder Investment Management Group raised its stake in Rexford Industrial Realty by 34.2% during the 1st quarter. Schroder Investment Management Group now owns 1,523,708 shares of the real estate investment trust’s stock worth $43,868,000 after buying an additional 388,131 shares during the period. Principal Financial Group Inc. raised its stake in Rexford Industrial Realty by 7.6% during the 1st quarter. Principal Financial Group Inc. now owns 3,570,817 shares of the real estate investment trust’s stock worth $102,804,000 after buying an additional 251,106 shares during the period. Finally, Allianz Asset Management GmbH raised its stake in Rexford Industrial Realty by 50.4% during the 1st quarter. Allianz Asset Management GmbH now owns 392,510 shares of the real estate investment trust’s stock worth $11,300,000 after buying an additional 131,510 shares during the period. 99.36% of the stock is currently owned by institutional investors and hedge funds.
Shares of REXR opened at $31.60 on Friday. The company has a debt-to-equity ratio of 0.48, a current ratio of 8.47 and a quick ratio of 8.47. The company has a market cap of $2.88 billion, a price-to-earnings ratio of 32.92, a P/E/G ratio of 3.66 and a beta of 0.66. Rexford Industrial Realty Inc has a 52 week low of $26.32 and a 52 week high of $32.91.
Rexford Industrial Realty (NYSE:REXR) last issued its quarterly earnings data on Tuesday, July 31st. The real estate investment trust reported $0.06 EPS for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.20). The company had revenue of $51.76 million for the quarter, compared to the consensus estimate of $49.60 million. Rexford Industrial Realty had a return on equity of 2.93% and a net margin of 20.19%. analysts expect that Rexford Industrial Realty Inc will post 1.08 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 15th. Shareholders of record on Friday, September 28th will be issued a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 2.03%. The ex-dividend date of this dividend is Thursday, September 27th. Rexford Industrial Realty’s dividend payout ratio is currently 66.67%.
A number of research analysts recently weighed in on REXR shares. Capital One Financial raised Rexford Industrial Realty from an “equal weight” rating to an “overweight” rating in a research note on Wednesday, August 1st. DA Davidson downgraded Rexford Industrial Realty from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $40.00 to $35.00 in a research note on Friday, June 29th. Zacks Investment Research raised Rexford Industrial Realty from a “sell” rating to a “hold” rating in a research note on Thursday, August 2nd. Finally, TheStreet downgraded Rexford Industrial Realty from a “b” rating to a “c+” rating in a research note on Wednesday, August 1st. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and five have issued a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $32.38.
In other Rexford Industrial Realty news, Director Richard S. Ziman sold 102,043 shares of the business’s stock in a transaction that occurred on Friday, August 3rd. The stock was sold at an average price of $31.32, for a total transaction of $3,195,986.76. Following the completion of the sale, the director now directly owns 64,918 shares of the company’s stock, valued at approximately $2,033,231.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.80% of the company’s stock.
Rexford Industrial Realty Company Profile
Rexford Industrial is a real estate investment trust focused on owning and operating industrial properties in Southern California infill markets. The Company owns 166 properties with approximately 20.3 million rentable square feet and manages an additional 20 properties with approximately 1.2 million rentable square feet.
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