Rexford Industrial Realty, Inc. (NYSE:REXR) General Counsel David E. Lanzer Sells 26,449 Shares

Rexford Industrial Realty, Inc. (NYSE:REXR) General Counsel David E. Lanzer sold 26,449 shares of Rexford Industrial Realty stock in a transaction on Monday, July 21st. The shares were sold at an average price of $36.87, for a total value of $975,174.63. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.

Rexford Industrial Realty Price Performance

Shares of NYSE REXR opened at $36.95 on Tuesday. Rexford Industrial Realty, Inc. has a 1 year low of $29.68 and a 1 year high of $52.61. The company has a debt-to-equity ratio of 0.37, a current ratio of 5.59 and a quick ratio of 4.90. The company’s 50-day moving average is $36.12 and its 200 day moving average is $37.25. The stock has a market capitalization of $8.74 billion, a P/E ratio of 27.37, a P/E/G ratio of 3.35 and a beta of 1.13.

Rexford Industrial Realty (NYSE:REXR) last released its quarterly earnings data on Wednesday, July 16th. The real estate investment trust reported $0.59 earnings per share for the quarter, beating the consensus estimate of $0.58 by $0.01. Rexford Industrial Realty had a net margin of 32.04% and a return on equity of 3.62%. The firm had revenue of $241.57 million during the quarter, compared to analysts’ expectations of $251.72 million. During the same period in the previous year, the company earned $0.60 earnings per share. The firm’s quarterly revenue was up 5.0% on a year-over-year basis. On average, sell-side analysts expect that Rexford Industrial Realty, Inc. will post 2.38 earnings per share for the current year.

Rexford Industrial Realty Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th will be paid a $0.43 dividend. This represents a $1.72 annualized dividend and a yield of 4.66%. The ex-dividend date of this dividend is Tuesday, September 30th. Rexford Industrial Realty’s dividend payout ratio is presently 127.41%.

Analyst Ratings Changes

A number of analysts have weighed in on REXR shares. JPMorgan Chase & Co. reduced their price target on Rexford Industrial Realty from $44.00 to $37.00 and set a “neutral” rating for the company in a research report on Thursday, April 24th. Barclays decreased their target price on Rexford Industrial Realty from $38.00 to $35.00 and set an “underweight” rating for the company in a research note on Wednesday, April 30th. Scotiabank decreased their target price on Rexford Industrial Realty from $39.00 to $37.00 and set a “sector perform” rating for the company in a research note on Monday, May 12th. Truist Financial decreased their target price on Rexford Industrial Realty from $44.00 to $37.00 and set a “buy” rating for the company in a research note on Thursday, May 1st. Finally, Evercore ISI downgraded Rexford Industrial Realty from an “outperform” rating to an “in-line” rating and decreased their target price for the company from $39.00 to $38.00 in a research note on Friday. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $39.82.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Proficio Capital Partners LLC acquired a new position in shares of Rexford Industrial Realty in the 4th quarter valued at $417,000. Xponance Inc. grew its holdings in shares of Rexford Industrial Realty by 9.4% in the fourth quarter. Xponance Inc. now owns 25,707 shares of the real estate investment trust’s stock valued at $994,000 after purchasing an additional 2,203 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its stake in Rexford Industrial Realty by 40.3% during the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 120,640 shares of the real estate investment trust’s stock worth $4,664,000 after buying an additional 34,635 shares during the period. HUB Investment Partners LLC purchased a new position in Rexford Industrial Realty during the fourth quarter worth about $226,000. Finally, Whittier Trust Co. of Nevada Inc. boosted its stake in Rexford Industrial Realty by 515.7% during the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 1,490 shares of the real estate investment trust’s stock worth $58,000 after buying an additional 1,248 shares during the period. Hedge funds and other institutional investors own 99.52% of the company’s stock.

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.