Rexford Industrial Realty (NYSE:REXR) CEO Michael Frankel Sells 7,400 Shares

Rexford Industrial Realty, Inc. (NYSE:REXR) CEO Michael Frankel sold 7,400 shares of the stock in a transaction that occurred on Wednesday, December 3rd. The stock was sold at an average price of $41.51, for a total value of $307,174.00. Following the completion of the sale, the chief executive officer directly owned 622,606 shares of the company’s stock, valued at approximately $25,844,375.06. This trade represents a 1.17% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Rexford Industrial Realty Stock Down 0.3%

Shares of NYSE:REXR traded down $0.12 during mid-day trading on Friday, hitting $41.08. 65,361 shares of the company traded hands, compared to its average volume of 2,486,690. The stock has a market cap of $9.56 billion, a P/E ratio of 28.95, a P/E/G ratio of 2.58 and a beta of 1.22. The company has a current ratio of 2.95, a quick ratio of 2.95 and a debt-to-equity ratio of 0.37. Rexford Industrial Realty, Inc. has a 12-month low of $29.68 and a 12-month high of $44.38. The stock has a 50-day moving average price of $41.59 and a two-hundred day moving average price of $39.26.

Rexford Industrial Realty (NYSE:REXR) last released its quarterly earnings results on Wednesday, October 15th. The real estate investment trust reported $0.60 EPS for the quarter, beating analysts’ consensus estimates of $0.59 by $0.01. The business had revenue of $253.24 million during the quarter, compared to analyst estimates of $253.46 million. Rexford Industrial Realty had a return on equity of 3.81% and a net margin of 33.88%.Rexford Industrial Realty’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.59 EPS. Rexford Industrial Realty has set its FY 2025 guidance at 2.390-2.410 EPS. On average, equities research analysts forecast that Rexford Industrial Realty, Inc. will post 2.38 earnings per share for the current year.

Rexford Industrial Realty Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 15th. Investors of record on Wednesday, December 31st will be issued a dividend of $0.43 per share. The ex-dividend date is Wednesday, December 31st. This represents a $1.72 annualized dividend and a yield of 4.2%. Rexford Industrial Realty’s payout ratio is 121.13%.

Institutional Investors Weigh In On Rexford Industrial Realty

A number of hedge funds have recently modified their holdings of the stock. Northwestern Mutual Wealth Management Co. lifted its stake in Rexford Industrial Realty by 403.6% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 690 shares of the real estate investment trust’s stock valued at $27,000 after purchasing an additional 553 shares during the last quarter. Vision Financial Markets LLC bought a new stake in shares of Rexford Industrial Realty in the third quarter valued at $33,000. Wiser Advisor Group LLC purchased a new position in shares of Rexford Industrial Realty during the 3rd quarter valued at $34,000. Allworth Financial LP lifted its position in shares of Rexford Industrial Realty by 140.3% during the 3rd quarter. Allworth Financial LP now owns 983 shares of the real estate investment trust’s stock valued at $40,000 after buying an additional 574 shares during the last quarter. Finally, Quent Capital LLC bought a new position in shares of Rexford Industrial Realty during the 3rd quarter worth $41,000. Institutional investors own 99.52% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on REXR. Wolfe Research downgraded shares of Rexford Industrial Realty from an “outperform” rating to a “peer perform” rating in a research report on Monday, October 20th. Industrial Alliance Securities set a $42.00 target price on Rexford Industrial Realty in a report on Wednesday, November 19th. UBS Group set a $44.00 price target on Rexford Industrial Realty in a research report on Monday, November 10th. Weiss Ratings reissued a “hold (c)” rating on shares of Rexford Industrial Realty in a research report on Wednesday, October 8th. Finally, Cantor Fitzgerald began coverage on Rexford Industrial Realty in a research note on Wednesday, October 1st. They issued an “overweight” rating and a $50.00 price objective for the company. Three investment analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Rexford Industrial Realty currently has an average rating of “Hold” and a consensus target price of $43.08.

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.