Rexford Industrial Realty, Inc. (NYSE:REXR) CFO Sells $711,377.75 in Stock

Rexford Industrial Realty, Inc. (NYSE:REXR) CFO Laura E. Clark sold 14,185 shares of Rexford Industrial Realty stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $50.15, for a total value of $711,377.75. The sale was disclosed in a filing with the SEC, which is available through this hyperlink.

Rexford Industrial Realty Stock Up 2.0 %

NYSE:REXR opened at $50.58 on Friday. Rexford Industrial Realty, Inc. has a 1 year low of $41.56 and a 1 year high of $58.02. The stock has a 50-day moving average price of $49.72 and a two-hundred day moving average price of $47.71. The stock has a market cap of $11.10 billion, a price-to-earnings ratio of 46.40, a PEG ratio of 2.06 and a beta of 0.93. The company has a current ratio of 1.73, a quick ratio of 1.73 and a debt-to-equity ratio of 0.41.

Rexford Industrial Realty (NYSE:REXR) last released its quarterly earnings results on Wednesday, July 17th. The real estate investment trust reported $0.37 earnings per share for the quarter, missing the consensus estimate of $0.58 by ($0.21). The company had revenue of $237.60 million during the quarter, compared to analyst estimates of $227.70 million. Rexford Industrial Realty had a net margin of 30.71% and a return on equity of 3.31%. The firm’s quarterly revenue was up 21.3% compared to the same quarter last year. During the same quarter last year, the company earned $0.54 EPS. As a group, equities analysts expect that Rexford Industrial Realty, Inc. will post 2.35 earnings per share for the current year.

Rexford Industrial Realty Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th will be issued a $0.4175 dividend. The ex-dividend date of this dividend is Monday, September 30th. This is an increase from Rexford Industrial Realty’s previous quarterly dividend of $0.42. This represents a $1.67 dividend on an annualized basis and a dividend yield of 3.30%. Rexford Industrial Realty’s dividend payout ratio (DPR) is 153.21%.

Analyst Ratings Changes

Several equities analysts have issued reports on REXR shares. Truist Financial lifted their price objective on Rexford Industrial Realty from $50.00 to $54.00 and gave the company a “buy” rating in a research report on Tuesday, July 30th. Mizuho reduced their price target on shares of Rexford Industrial Realty from $50.00 to $49.00 and set a “neutral” rating on the stock in a research report on Thursday, September 5th. StockNews.com raised shares of Rexford Industrial Realty from a “sell” rating to a “hold” rating in a report on Monday, July 22nd. JPMorgan Chase & Co. boosted their target price on shares of Rexford Industrial Realty from $47.00 to $52.00 and gave the stock a “neutral” rating in a research note on Thursday, July 25th. Finally, Scotiabank increased their price target on shares of Rexford Industrial Realty from $51.00 to $55.00 and gave the company a “sector outperform” rating in a research note on Monday, August 26th. One research analyst has rated the stock with a sell rating, five have given a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $54.00.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in REXR. Massmutual Trust Co. FSB ADV boosted its position in Rexford Industrial Realty by 169.4% during the second quarter. Massmutual Trust Co. FSB ADV now owns 555 shares of the real estate investment trust’s stock valued at $25,000 after purchasing an additional 349 shares during the last quarter. V Square Quantitative Management LLC bought a new stake in shares of Rexford Industrial Realty during the 2nd quarter worth approximately $26,000. Headlands Technologies LLC acquired a new stake in shares of Rexford Industrial Realty in the 2nd quarter valued at approximately $41,000. EverSource Wealth Advisors LLC grew its stake in shares of Rexford Industrial Realty by 1,252.2% in the first quarter. EverSource Wealth Advisors LLC now owns 933 shares of the real estate investment trust’s stock valued at $47,000 after buying an additional 864 shares in the last quarter. Finally, Advisors Asset Management Inc. increased its holdings in Rexford Industrial Realty by 136.6% during the first quarter. Advisors Asset Management Inc. now owns 1,086 shares of the real estate investment trust’s stock worth $55,000 after buying an additional 627 shares during the last quarter. Institutional investors own 99.52% of the company’s stock.

About Rexford Industrial Realty

Rexford Industrial creates value by investing in, operating and redeveloping industrial properties throughout infill Southern California, the world's fourth largest industrial market and consistently the highest-demand with lowest-supply major market in the nation. The Company's highly differentiated strategy enables internal and external growth opportunities through its proprietary value creation and asset management capabilities.