Rexford Industrial Realty, Inc. (NYSE:REXR) General Counsel David E. Lanzer Sells 16,778 Shares of Stock

Rexford Industrial Realty, Inc. (NYSE:REXR – Get Rating) General Counsel David E. Lanzer sold 16,778 shares of the firm’s stock in a transaction dated Tuesday, March 14th. The stock was sold at an average price of $58.16, for a total transaction of $975,808.48. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Rexford Industrial Realty Trading Up 2.3 %

Shares of Rexford Industrial Realty stock opened at $59.06 on Wednesday. The stock has a market capitalization of $11.62 billion, a P/E ratio of 64.20, a price-to-earnings-growth ratio of 3.37 and a beta of 0.83. The company has a quick ratio of 0.53, a current ratio of 0.53 and a debt-to-equity ratio of 0.29. The company has a 50-day simple moving average of $60.71 and a 200 day simple moving average of $57.28. Rexford Industrial Realty, Inc. has a 12-month low of $48.74 and a 12-month high of $84.68.

Rexford Industrial Realty Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 17th. Shareholders of record on Friday, March 31st will be given a $0.38 dividend. This represents a $1.52 annualized dividend and a yield of 2.57%. The ex-dividend date is Thursday, March 30th. This is a boost from Rexford Industrial Realty’s previous quarterly dividend of $0.32. Rexford Industrial Realty’s dividend payout ratio (DPR) is presently 136.96%.

Institutional Investors Weigh In On Rexford Industrial Realty

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Voya Investment Management LLC increased its position in Rexford Industrial Realty by 4.6% in the 4th quarter. Voya Investment Management LLC now owns 29,533 shares of the real estate investment trust’s stock valued at $1,614,000 after acquiring an additional 1,298 shares in the last quarter. Trust Investment Advisors acquired a new stake in shares of Rexford Industrial Realty during the 4th quarter worth approximately $350,000. Alliancebernstein L.P. grew its position in shares of Rexford Industrial Realty by 38.8% during the 4th quarter. Alliancebernstein L.P. now owns 1,091,712 shares of the real estate investment trust’s stock worth $59,651,000 after buying an additional 305,219 shares during the period. Adelante Capital Management LLC acquired a new stake in shares of Rexford Industrial Realty during the 4th quarter worth approximately $7,745,000. Finally, CI Private Wealth LLC acquired a new stake in shares of Rexford Industrial Realty during the 4th quarter worth approximately $208,000. Institutional investors and hedge funds own 98.77% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on REXR shares. BMO Capital Markets started coverage on shares of Rexford Industrial Realty in a report on Monday, February 6th. They set an “outperform” rating and a $77.00 price objective for the company. Wells Fargo & Company raised their price objective on shares of Rexford Industrial Realty to $68.00 in a report on Wednesday, December 14th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $69.33.

About Rexford Industrial Realty

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Rexford Industrial Realty, Inc is a self-administered and self-managed real estate investment trust. It 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.