M&T Bank Corp Boosts Holdings in Rexford Industrial Realty, Inc. (NYSE:REXR)

M&T Bank Corp raised its position in Rexford Industrial Realty, Inc. (NYSE:REXR) by 1.5% in the 3rd quarter, Holdings Channel reports. The firm owned 29,225 shares of the real estate investment trust’s stock after buying an additional 442 shares during the quarter. M&T Bank Corp’s holdings in Rexford Industrial Realty were worth $1,470,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the company. Fulton Bank N.A. boosted its stake in Rexford Industrial Realty by 4.7% during the third quarter. Fulton Bank N.A. now owns 5,038 shares of the real estate investment trust’s stock valued at $253,000 after buying an additional 224 shares during the period. IHT Wealth Management LLC boosted its position in shares of Rexford Industrial Realty by 4.8% during the 3rd quarter. IHT Wealth Management LLC now owns 6,451 shares of the real estate investment trust’s stock valued at $325,000 after acquiring an additional 296 shares during the last quarter. Hennion & Walsh Asset Management Inc. grew its holdings in shares of Rexford Industrial Realty by 2.4% during the second quarter. Hennion & Walsh Asset Management Inc. now owns 14,641 shares of the real estate investment trust’s stock worth $653,000 after purchasing an additional 337 shares in the last quarter. Victory Capital Management Inc. increased its position in shares of Rexford Industrial Realty by 0.8% in the second quarter. Victory Capital Management Inc. now owns 46,066 shares of the real estate investment trust’s stock worth $2,054,000 after purchasing an additional 345 shares during the last quarter. Finally, Naviter Wealth LLC raised its stake in Rexford Industrial Realty by 2.6% in the third quarter. Naviter Wealth LLC now owns 14,907 shares of the real estate investment trust’s stock valued at $756,000 after purchasing an additional 382 shares in the last quarter. 99.52% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Truist Financial cut their price target 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. Industrial Alliance Securities set a $55.00 target price on Rexford Industrial Realty in a research note on Friday, October 18th. StockNews.com lowered Rexford Industrial Realty from a “hold” rating to a “sell” rating in a research note on Monday, October 21st. Mizuho cut their price objective on Rexford Industrial Realty from $50.00 to $49.00 and set a “neutral” rating for the company in a report on Thursday, September 5th. Finally, Scotiabank cut Rexford Industrial Realty from a “sector outperform” rating to a “sector perform” rating and decreased their price objective for the company from $55.00 to $48.00 in a report on Friday, October 25th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $51.09.

Rexford Industrial Realty Trading Up 1.4 %

NYSE REXR opened at $40.87 on Monday. The firm has a market cap of $9.09 billion, a PE ratio of 33.23, a price-to-earnings-growth ratio of 1.94 and a beta of 0.93. Rexford Industrial Realty, Inc. has a 1-year low of $39.85 and a 1-year high of $58.02. The stock has a 50-day moving average of $43.44 and a 200-day moving average of $46.64. The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 0.40.

Rexford Industrial Realty (NYSE:REXR) last announced its quarterly earnings data on Wednesday, October 16th. The real estate investment trust reported $0.30 earnings per share for the quarter, missing the consensus estimate of $0.58 by ($0.28). The company had revenue of $241.84 million during the quarter, compared to the consensus estimate of $235.81 million. Rexford Industrial Realty had a net margin of 30.40% and a return on equity of 3.35%. The business’s revenue for the quarter was up 17.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.56 EPS. As a group, sell-side analysts forecast that Rexford Industrial Realty, Inc. will post 2.34 EPS for the current year.

Rexford Industrial Realty Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be given a dividend of $0.4175 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $1.67 annualized dividend and a yield of 4.09%. Rexford Industrial Realty’s payout ratio is currently 135.77%.

Rexford Industrial Realty Profile

Rexford Industrial creates value by investing in, operating and redeveloping industrial properties throughout infill Southern California, the world's fourth largest industrial market and consistently the highest-demand with lowest-supply major market in the nation. The Company's highly differentiated strategy enables internal and external growth opportunities through its proprietary value creation and asset management capabilities.