Rexford Industrial Realty Inc (REXR) Shares Bought by Schwab Charles Investment Management Inc.
Schwab Charles Investment Management Inc. lifted its stake in Rexford Industrial Realty Inc (NASDAQ:REXR) by 7.9% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 625,509 shares of the company’s stock after buying an additional 45,635 shares during the quarter. Schwab Charles Investment Management Inc. owned approximately 0.94% of Rexford Industrial Realty worth $17,164,000 at the end of the most recent reporting period.
Other hedge funds also recently added to or reduced their stakes in the company. SG Americas Securities LLC purchased a new position in shares of Rexford Industrial Realty in the first quarter worth $114,000. Ameritas Investment Partners Inc. purchased a new position in shares of Rexford Industrial Realty in the first quarter worth $128,000. Westside Investment Management Inc. purchased a new position in shares of Rexford Industrial Realty in the first quarter worth $138,000. Cutler Group LP purchased a new position in shares of Rexford Industrial Realty in the second quarter worth $164,000. Finally, Daiwa Securities Group Inc. lifted its holdings in shares of Rexford Industrial Realty by 13.2% in the second quarter. Daiwa Securities Group Inc. now owns 6,000 shares of the company’s stock worth $165,000 after buying an additional 700 shares in the last quarter.
Shares of Rexford Industrial Realty Inc (NASDAQ:REXR) opened at 29.51 on Friday. The company’s 50-day moving average is $29.07 and its 200-day moving average is $26.46. The stock has a market cap of $2.09 billion and a P/E ratio of 63.19. Rexford Industrial Realty Inc has a 1-year low of $20.05 and a 1-year high of $30.60.
Rexford Industrial Realty (NASDAQ:REXR) last released its quarterly earnings results on Tuesday, August 1st. The company reported $0.23 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.23. Rexford Industrial Realty had a net margin of 53.98% and a return on equity of 7.84%. The firm had revenue of $36.78 million for the quarter, compared to analysts’ expectations of $36.75 million. During the same quarter last year, the company earned $0.22 EPS. The firm’s revenue for the quarter was up 20.2% compared to the same quarter last year. Equities analysts expect that Rexford Industrial Realty Inc will post $0.36 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, October 16th. Investors of record on Friday, September 29th will be paid a $0.145 dividend. The ex-dividend date of this dividend is Thursday, September 28th. This represents a $0.58 dividend on an annualized basis and a yield of 1.97%.
REXR has been the topic of several research analyst reports. Jefferies Group LLC reissued a “buy” rating and issued a $32.00 target price on shares of Rexford Industrial Realty in a report on Tuesday, July 25th. Stifel Nicolaus reissued a “buy” rating and issued a $30.00 target price on shares of Rexford Industrial Realty in a report on Friday, July 14th. DA Davidson reissued a “buy” rating and issued a $33.00 target price (up previously from $30.00) on shares of Rexford Industrial Realty in a report on Thursday, July 13th. National Securities raised shares of Rexford Industrial Realty from a “hold” rating to a “buy” rating and boosted their target price for the stock from $23.00 to $32.00 in a report on Tuesday, August 29th. Finally, Zacks Investment Research raised shares of Rexford Industrial Realty from a “hold” rating to a “buy” rating and set a $32.00 target price on the stock in a report on Tuesday, August 22nd. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $30.86.
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Rexford Industrial Realty Profile
Rexford Industrial Realty, Inc is a self-administered and self-managed full-service real estate investment trust (REIT). The Company is focused on owning, operating and acquiring industrial properties in Southern California infill markets. Rexford Industrial Realty, L.P. is the operating partnership of the Company.
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