Rexford Industrial Realty Inc (NYSE:REXR) CEO Michael S. Frankel sold 12,536 shares of the business’s stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $47.46, for a total value of $594,958.56. Following the transaction, the chief executive officer now owns 71,834 shares of the company’s stock, valued at $3,409,241.64. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.
NYSE REXR opened at $46.65 on Thursday. The stock’s 50 day moving average is $45.62 and its 200 day moving average is $41.84. The company has a current ratio of 7.17, a quick ratio of 7.17 and a debt-to-equity ratio of 0.34. Rexford Industrial Realty Inc has a 12 month low of $28.17 and a 12 month high of $48.80. The stock has a market cap of $5.20 billion, a PE ratio of 41.65, a P/E/G ratio of 5.58 and a beta of 0.77.
Rexford Industrial Realty (NYSE:REXR) last posted its quarterly earnings results on Tuesday, October 29th. The real estate investment trust reported $0.31 EPS for the quarter, topping the Zacks’ consensus estimate of $0.30 by $0.01. Rexford Industrial Realty had a return on equity of 2.69% and a net margin of 21.32%. The company had revenue of $68.06 million for the quarter, compared to analysts’ expectations of $67.50 million. During the same period in the previous year, the firm earned $0.28 EPS. The firm’s revenue was up 23.3% compared to the same quarter last year. On average, analysts forecast that Rexford Industrial Realty Inc will post 1.21 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be issued a $0.185 dividend. The ex-dividend date of this dividend is Monday, December 30th. This represents a $0.74 dividend on an annualized basis and a yield of 1.59%. Rexford Industrial Realty’s dividend payout ratio is presently 66.07%.
REXR has been the subject of a number of recent research reports. Stifel Nicolaus boosted their price objective on Rexford Industrial Realty from $41.00 to $46.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. ValuEngine downgraded Rexford Industrial Realty from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. Citigroup boosted their price objective on Rexford Industrial Realty from $42.00 to $47.00 and gave the company a “neutral” rating in a research note on Monday, September 23rd. Finally, Zacks Investment Research downgraded Rexford Industrial Realty from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 22nd. Five investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Rexford Industrial Realty currently has an average rating of “Hold” and an average target price of $45.00.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Point72 Asset Management L.P. purchased a new position in Rexford Industrial Realty in the 2nd quarter worth approximately $36,000. New York State Teachers Retirement System purchased a new stake in shares of Rexford Industrial Realty during the 3rd quarter worth approximately $40,000. Whittier Trust Co. raised its holdings in shares of Rexford Industrial Realty by 96.5% during the 2nd quarter. Whittier Trust Co. now owns 2,335 shares of the real estate investment trust’s stock worth $94,000 after acquiring an additional 1,147 shares in the last quarter. NEXT Financial Group Inc raised its holdings in shares of Rexford Industrial Realty by 58.3% during the 2nd quarter. NEXT Financial Group Inc now owns 2,483 shares of the real estate investment trust’s stock worth $100,000 after acquiring an additional 914 shares in the last quarter. Finally, Pearl River Capital LLC purchased a new stake in shares of Rexford Industrial Realty during the 2nd quarter worth approximately $124,000. 99.10% of the stock is currently owned by institutional investors.
About Rexford Industrial Realty
Rexford Industrial is a real estate investment trust focused on owning and operating industrial properties in Southern California infill markets. The Company owns 179 properties with approximately 22.1 million rentable square feet and manages an additional 20 properties with approximately 1.2 million rentable square feet.
Further Reading: What is a back-end load?
Receive News & Ratings for Rexford Industrial Realty Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Rexford Industrial Realty and related companies with MarketBeat.com's FREE daily email newsletter.