Charles Schwab Investment Management Inc. Buys 147,265 Shares of Rexford Industrial Realty, Inc. (NYSE:REXR)

Key Points

• Charles Schwab Investment Management Inc. increased its stake in Rexford Industrial Realty by 5.3%, now holding 2,930,169 shares valued at approximately $114.7 million.
• Rexford Industrial Realty reported a quarterly earnings per share (EPS) of $0.59, exceeding analyst estimates, but its revenue fell short at $241.57 million.
• The firm declared a quarterly dividend of $0.43 per share, indicating an annualized dividend yield of 4.7%.

Charles Schwab Investment Management Inc. lifted its stake in shares of Rexford Industrial Realty, Inc. (NYSE:REXR - Free Report) by 5.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,930,169 shares of the real estate investment trust's stock after acquiring an additional 147,265 shares during the period. Charles Schwab Investment Management Inc. owned approximately 1.24% of Rexford Industrial Realty worth $114,716,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the business. Utah Retirement Systems grew its position in Rexford Industrial Realty by 0.8% in the fourth quarter. Utah Retirement Systems now owns 36,000 shares of the real estate investment trust's stock valued at $1,392,000 after purchasing an additional 300 shares in the last quarter. M&T Bank Corp grew its position in Rexford Industrial Realty by 1.2% in the first quarter. M&T Bank Corp now owns 26,857 shares of the real estate investment trust's stock valued at $1,052,000 after purchasing an additional 317 shares in the last quarter. Private Trust Co. NA grew its position in Rexford Industrial Realty by 95.6% in the first quarter. Private Trust Co. NA now owns 757 shares of the real estate investment trust's stock valued at $30,000 after purchasing an additional 370 shares in the last quarter. Federated Hermes Inc. grew its position in Rexford Industrial Realty by 2.2% in the first quarter. Federated Hermes Inc. now owns 18,297 shares of the real estate investment trust's stock valued at $716,000 after purchasing an additional 388 shares in the last quarter. Finally, Bessemer Group Inc. grew its position in Rexford Industrial Realty by 118.4% in the first quarter. Bessemer Group Inc. now owns 747 shares of the real estate investment trust's stock valued at $29,000 after purchasing an additional 405 shares in the last quarter. Institutional investors own 99.52% of the company's stock.

Insider Buying and Selling

In related news, General Counsel David E. Lanzer sold 26,449 shares of the firm's stock in a transaction dated Monday, July 21st. The shares were sold at an average price of $36.87, for a total transaction of $975,174.63. The transaction was disclosed in a document filed with the SEC, which is available through this link. Corporate insiders own 1.20% of the company's stock.

Analyst Upgrades and Downgrades

REXR has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. cut their price target on shares of Rexford Industrial Realty from $44.00 to $37.00 and set a "neutral" rating for the company in a research note on Thursday, April 24th. Scotiabank cut their price target on shares of Rexford Industrial Realty from $39.00 to $37.00 and set a "sector perform" rating for the company in a research note on Monday, May 12th. Wells Fargo & Company cut their price target on shares of Rexford Industrial Realty from $45.00 to $39.00 and set an "overweight" rating for the company in a research note on Monday, May 19th. Evercore ISI cut shares of Rexford Industrial Realty from an "outperform" rating to an "in-line" rating and cut their price target for the company from $39.00 to $38.00 in a research note on Friday, July 18th. Finally, Barclays cut their price target on shares of Rexford Industrial Realty from $38.00 to $35.00 and set an "underweight" rating for the company in a research note on Wednesday, April 30th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Rexford Industrial Realty has an average rating of "Hold" and a consensus target price of $39.82.

Rexford Industrial Realty Stock Performance

NYSE REXR opened at $36.43 on Tuesday. Rexford Industrial Realty, Inc. has a 52-week low of $29.68 and a 52-week high of $52.61. The stock has a market cap of $8.62 billion, a PE ratio of 26.98, a P/E/G ratio of 4.08 and a beta of 1.10. The firm has a 50-day moving average of $36.67 and a 200-day moving average of $37.03. The company has a debt-to-equity ratio of 0.37, a quick ratio of 5.59 and a current ratio of 5.59.

Rexford Industrial Realty (NYSE:REXR - Get Free Report) last released its quarterly earnings results on Wednesday, July 16th. The real estate investment trust reported $0.59 EPS for the quarter, topping analysts' consensus estimates of $0.58 by $0.01. Rexford Industrial Realty had a net margin of 32.04% and a return on equity of 3.62%. The business had revenue of $241.57 million for the quarter, compared to analyst estimates of $251.72 million. During the same period last year, the firm earned $0.60 earnings per share. Rexford Industrial Realty's revenue for the quarter was up 5.0% compared to the same quarter last year. On average, sell-side analysts anticipate that Rexford Industrial Realty, Inc. will post 2.38 EPS for the current year.

Rexford Industrial Realty Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th will be given a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a yield of 4.7%. The ex-dividend date of this dividend is Tuesday, September 30th. Rexford Industrial Realty's dividend payout ratio (DPR) is currently 127.41%.

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.

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