Rexford Industrial Realty, Inc. (NYSE:REXR) General Counsel Sells $975,174.63 in Stock

Rexford Industrial Realty, Inc. (NYSE:REXR) General Counsel David E. Lanzer sold 26,449 shares of the company’s 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 filing with the Securities & Exchange Commission, which is available at the SEC website.

Rexford Industrial Realty Stock Up 2.0%

NYSE:REXR opened at $38.11 on Thursday. Rexford Industrial Realty, Inc. has a twelve month low of $29.68 and a twelve month high of $52.61. The firm has a market capitalization of $9.02 billion, a price-to-earnings ratio of 28.23, a price-to-earnings-growth ratio of 4.15 and a beta of 1.13. The company has a quick ratio of 4.90, a current ratio of 5.59 and a debt-to-equity ratio of 0.37. The stock’s 50 day moving average price is $36.22 and its two-hundred day moving average price is $37.25.

Rexford Industrial Realty (NYSE:REXR) last issued its earnings results on Wednesday, July 16th. The real estate investment trust reported $0.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 company had revenue of $241.57 million for the quarter, compared to analysts’ expectations of $251.72 million. During the same period in the prior year, the firm earned $0.60 EPS. Rexford Industrial Realty’s quarterly revenue was up 5.0% compared to the same quarter last year. Equities research analysts expect that Rexford Industrial Realty, Inc. will post 2.38 earnings per share for the current fiscal year.

Rexford Industrial Realty Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th will be issued a dividend of $0.43 per share. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $1.72 annualized dividend and a yield of 4.51%. Rexford Industrial Realty’s payout ratio is currently 127.41%.

Institutional Investors Weigh In On Rexford Industrial Realty

Institutional investors have recently modified their holdings of the business. Northwestern Mutual Wealth Management Co. increased its position in shares of 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 worth $27,000 after purchasing an additional 553 shares during the period. MassMutual Private Wealth & Trust FSB grew its stake in Rexford Industrial Realty by 332.9% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 736 shares of the real estate investment trust’s stock worth $29,000 after buying an additional 566 shares in the last quarter. Bessemer Group Inc. increased its holdings in Rexford Industrial Realty by 118.4% in the 1st quarter. Bessemer Group Inc. now owns 747 shares of the real estate investment trust’s stock valued at $29,000 after buying an additional 405 shares during the period. Private Trust Co. NA increased its holdings in Rexford Industrial Realty by 95.6% in the 1st quarter. Private Trust Co. NA now owns 757 shares of the real estate investment trust’s stock valued at $30,000 after buying an additional 370 shares during the period. Finally, Quantbot Technologies LP acquired a new position in shares of Rexford Industrial Realty in the 4th quarter valued at approximately $33,000. Institutional investors own 99.52% of the company’s stock.

Analyst Upgrades and Downgrades

REXR has been the topic of several research reports. JPMorgan Chase & Co. reduced their price target on shares of Rexford Industrial Realty from $44.00 to $37.00 and set a “neutral” rating on the stock in a research report on Thursday, April 24th. Barclays lowered their price target on shares of Rexford Industrial Realty from $38.00 to $35.00 and set an “underweight” rating for the company in a report on Wednesday, April 30th. Wells Fargo & Company dropped their price objective on shares of Rexford Industrial Realty from $45.00 to $39.00 and set an “overweight” rating for the company in a research report on Monday, May 19th. Evercore ISI lowered Rexford Industrial Realty from an “outperform” rating to an “in-line” rating and decreased their price objective for the company from $39.00 to $38.00 in a research report on Friday, July 18th. Finally, Scotiabank lowered 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. Two investment analysts have rated the stock with a sell rating, seven have issued 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 a consensus target price of $39.82.

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.