Rexford Industrial Realty, Inc. (NYSE:REXR) Holdings Cut by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. reduced its stake in shares of Rexford Industrial Realty, Inc. (NYSE:REXR) by 0.2% during the 3rd quarter, HoldingsChannel reports. The fund owned 2,689,544 shares of the real estate investment trust’s stock after selling 5,941 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Rexford Industrial Realty were worth $135,311,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the stock. Massmutual Trust Co. FSB ADV grew its stake in Rexford Industrial Realty by 169.4% in the second quarter. Massmutual Trust Co. FSB ADV now owns 555 shares of the real estate investment trust’s stock valued at $25,000 after purchasing an additional 349 shares in the last quarter. V Square Quantitative Management LLC acquired a new stake in shares of Rexford Industrial Realty during the 2nd quarter valued at about $26,000. UMB Bank n.a. grew its stake in shares of Rexford Industrial Realty by 164.3% in the 3rd quarter. UMB Bank n.a. now owns 719 shares of the real estate investment trust’s stock valued at $36,000 after buying an additional 447 shares in the last quarter. Headlands Technologies LLC acquired a new position in Rexford Industrial Realty in the second quarter worth approximately $41,000. Finally, EverSource Wealth Advisors LLC increased its holdings in Rexford Industrial Realty by 1,252.2% in the first quarter. EverSource Wealth Advisors LLC now owns 933 shares of the real estate investment trust’s stock worth $47,000 after buying an additional 864 shares during the last quarter. 99.52% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Rexford Industrial Realty

In related news, CFO Laura E. Clark sold 14,185 shares of the firm’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $50.15, for a total value of $711,377.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.20% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Truist Financial decreased their target price on shares of Rexford Industrial Realty from $54.00 to $50.00 and set a “buy” rating for the company in a research report on Tuesday, November 12th. Evercore ISI reiterated an “outperform” rating on shares of Rexford Industrial Realty in a report on Friday, October 18th. Mizuho cut their target price on Rexford Industrial Realty from $50.00 to $49.00 and set a “neutral” rating on the stock in a report on Thursday, September 5th. Wells Fargo & Company decreased their price target on Rexford Industrial Realty from $66.00 to $61.00 and set an “overweight” rating for the company in a research note on Wednesday, August 28th. Finally, Scotiabank downgraded Rexford Industrial Realty from a “sector outperform” rating to a “sector perform” rating and cut their price objective for the company from $55.00 to $48.00 in a research note on Friday, October 25th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $51.09.

Rexford Industrial Realty Stock Performance

Shares of NYSE REXR opened at $42.08 on Monday. Rexford Industrial Realty, Inc. has a 12 month low of $41.16 and a 12 month high of $58.02. The company has a market cap of $9.36 billion, a P/E ratio of 34.21, a P/E/G ratio of 1.99 and a beta of 0.94. The business’s 50 day moving average is $46.16 and its two-hundred day moving average is $47.00. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 0.40.

Rexford Industrial Realty (NYSE:REXR) last announced its earnings results on Wednesday, October 16th. The real estate investment trust reported $0.30 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.28). Rexford Industrial Realty had a return on equity of 3.35% and a net margin of 30.40%. The company had revenue of $241.84 million for the quarter, compared to the consensus estimate of $235.81 million. During the same period last year, the firm posted $0.56 EPS. The company’s revenue was up 17.7% compared to the same quarter last year. On average, equities analysts expect that Rexford Industrial Realty, Inc. will post 2.34 EPS for the current year.

Rexford Industrial Realty Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be given a dividend of $0.4175 per share. This represents a $1.67 dividend on an annualized basis and a yield of 3.97%. The ex-dividend date of this dividend is Tuesday, December 31st. Rexford Industrial Realty’s dividend payout ratio (DPR) is presently 135.77%.

About Rexford Industrial Realty

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.