Insider Selling: Rexford Industrial Realty, Inc. (NYSE:REXR) CEO Sells 30,358 Shares of Stock

Rexford Industrial Realty, Inc. (NYSE:REXR) CEO Howard Schwimmer sold 30,358 shares of the company’s stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $48.86, for a total transaction of $1,483,291.88. Following the sale, the chief executive officer now directly owns 50,673 shares of the company’s stock, valued at $2,475,882.78. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Rexford Industrial Realty Price Performance

Shares of NYSE:REXR opened at $49.05 on Monday. The firm has a market cap of $10.68 billion, a price-to-earnings ratio of 45.00, a P/E/G ratio of 2.02 and a beta of 0.92. The firm has a fifty day moving average price of $45.82 and a 200 day moving average price of $48.40. Rexford Industrial Realty, Inc. has a fifty-two week low of $41.56 and a fifty-two week high of $58.02. The company has a debt-to-equity ratio of 0.41, a quick ratio of 3.21 and a current ratio of 1.73.

Rexford Industrial Realty (NYSE:REXR) last posted its earnings results on Wednesday, July 17th. The real estate investment trust reported $0.37 EPS for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.21). The firm had revenue of $237.60 million during the quarter, compared to analysts’ expectations of $227.70 million. Rexford Industrial Realty had a return on equity of 3.31% and a net margin of 30.71%. Rexford Industrial Realty’s quarterly revenue was up 21.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.54 earnings per share. As a group, sell-side analysts expect that Rexford Industrial Realty, Inc. will post 2.34 earnings per share for the current fiscal year.

Rexford Industrial Realty Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Investors 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 a positive change 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 3.40%. Rexford Industrial Realty’s dividend payout ratio (DPR) is 153.21%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on REXR shares. JPMorgan Chase & Co. upped their price objective on Rexford Industrial Realty from $47.00 to $52.00 and gave the stock a “neutral” rating in a research note on Thursday. StockNews.com upgraded Rexford Industrial Realty from a “sell” rating to a “hold” rating in a research report on Monday, July 22nd. Truist Financial decreased their price objective on Rexford Industrial Realty from $53.00 to $50.00 and set a “buy” rating on the stock in a research note on Thursday, May 2nd. Scotiabank cut their price objective on Rexford Industrial Realty from $55.00 to $51.00 and set a “sector outperform” rating for the company in a research note on Thursday, May 16th. Finally, Robert W. Baird decreased their target price on shares of Rexford Industrial Realty from $57.00 to $49.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 1st. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $52.30.

Institutional Investors Weigh In On Rexford Industrial Realty

Several large investors have recently bought and sold shares of the business. Massmutual Trust Co. FSB ADV grew its stake in shares of Rexford Industrial Realty by 169.4% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 555 shares of the real estate investment trust’s stock worth $25,000 after buying an additional 349 shares in the last quarter. V Square Quantitative Management LLC purchased a new position in Rexford Industrial Realty in the second quarter worth about $26,000. GAMMA Investing LLC purchased a new position in Rexford Industrial Realty in the fourth quarter worth about $41,000. EverSource Wealth Advisors LLC increased its stake in Rexford Industrial Realty by 1,252.2% during the first quarter. EverSource Wealth Advisors LLC now owns 933 shares of the real estate investment trust’s stock worth $47,000 after acquiring an additional 864 shares during the last quarter. Finally, Advisors Asset Management Inc. raised its position 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 valued at $55,000 after purchasing an additional 627 shares during the period. Institutional investors own 99.52% of the company’s stock.

Rexford Industrial Realty Company Profile

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.