Rexford Industrial Realty (NYSE:REXR) CEO Michael Frankel Sells 10,650 Shares

Rexford Industrial Realty, Inc. (NYSE:REXR) CEO Michael Frankel sold 10,650 shares of the company’s stock in a transaction that occurred on Tuesday, December 2nd. The shares were sold at an average price of $41.50, for a total value of $441,975.00. Following the completion of the transaction, the chief executive officer owned 630,006 shares in the company, valued at approximately $26,145,249. The trade was a 1.66% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.

Rexford Industrial Realty Stock Performance

NYSE:REXR traded down $0.12 during trading hours on Friday, reaching $41.08. The stock had a trading volume of 65,361 shares, 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 price-to-earnings-growth ratio of 2.58 and a beta of 1.22. The stock has a 50 day simple moving average of $41.59 and a 200 day simple moving average of $39.26. The company has a debt-to-equity ratio of 0.37, a quick ratio of 2.95 and a current ratio of 2.95. Rexford Industrial Realty, Inc. has a 12-month low of $29.68 and a 12-month high of $44.38.

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

Rexford Industrial Realty Announces Dividend

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

Institutional Investors Weigh In On Rexford Industrial Realty

A number of hedge funds have recently added to or reduced their stakes in REXR. Northwestern Mutual Wealth Management Co. boosted its position in shares of Rexford Industrial Realty by 403.6% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 690 shares of the real estate investment trust’s stock worth $27,000 after purchasing an additional 553 shares in the last quarter. Vision Financial Markets LLC purchased a new position in Rexford Industrial Realty during the third quarter worth $33,000. Wiser Advisor Group LLC acquired a new stake in shares of Rexford Industrial Realty during the third quarter valued at $34,000. Allworth Financial LP increased its position in 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 worth $40,000 after purchasing an additional 574 shares in the last quarter. Finally, Quent Capital LLC acquired a new position in Rexford Industrial Realty in the 3rd quarter valued at about $41,000. 99.52% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have recently commented on REXR. UBS Group set a $44.00 price target on shares of Rexford Industrial Realty in a research report on Monday, November 10th. Wall Street Zen cut Rexford Industrial Realty from a “hold” rating to a “sell” rating in a report on Saturday, October 18th. Evercore ISI dropped their target price on shares of Rexford Industrial Realty from $42.00 to $41.00 and set an “in-line” rating for the company in a research report on Monday. Wells Fargo & Company boosted their price target on shares of Rexford Industrial Realty from $40.00 to $47.00 and gave the stock an “overweight” rating in a research note on Monday, October 27th. Finally, Barclays lifted their price target on Rexford Industrial Realty from $35.00 to $39.00 and gave the stock an “underweight” rating in a research note on Monday, September 15th. Three investment analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target 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.