Rexford Industrial Realty (NYSE:REXR) CEO Michael Frankel Sells 20,318 Shares of Stock

Rexford Industrial Realty, Inc. (NYSE:REXR) CEO Michael Frankel sold 20,318 shares of Rexford Industrial Realty stock in a transaction that occurred on Thursday, December 4th. The stock was sold at an average price of $41.61, for a total value of $845,431.98. Following the transaction, the chief executive officer owned 602,288 shares in the company, valued at approximately $25,061,203.68. The trade was a 3.26% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Rexford Industrial Realty Stock Down 0.1%

Shares of REXR opened at $41.14 on Friday. The company has a quick ratio of 2.95, a current ratio of 2.95 and a debt-to-equity ratio of 0.37. The company has a market capitalization of $9.58 billion, a PE ratio of 28.97, a price-to-earnings-growth ratio of 2.58 and a beta of 1.22. The stock has a fifty day simple moving average of $41.59 and a two-hundred day simple moving average of $39.26. Rexford Industrial Realty, Inc. has a 52-week low of $29.68 and a 52-week high of $44.38.

Rexford Industrial Realty (NYSE:REXR) last posted its quarterly earnings results on Wednesday, October 15th. The real estate investment trust reported $0.60 earnings per share for the quarter, beating the consensus estimate of $0.59 by $0.01. The business had revenue of $253.24 million during the quarter, compared to analysts’ expectations of $253.46 million. Rexford Industrial Realty had a net margin of 33.88% and a return on equity of 3.81%. The business’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.59 EPS. Rexford Industrial Realty has set its FY 2025 guidance at 2.390-2.410 EPS. As a group, equities analysts forecast that Rexford Industrial Realty, Inc. will post 2.38 EPS for the current year.

Rexford Industrial Realty Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 15th. Stockholders of record on Wednesday, December 31st will be paid a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a dividend yield of 4.2%. The ex-dividend date of this dividend is Wednesday, December 31st. Rexford Industrial Realty’s payout ratio is 121.13%.

Analysts Set New Price Targets

Several brokerages have recently commented on REXR. Cantor Fitzgerald started coverage on shares of Rexford Industrial Realty in a report on Wednesday, October 1st. They issued an “overweight” rating and a $50.00 price objective on the stock. Industrial Alliance Securities set a $42.00 price target on Rexford Industrial Realty in a research note on Wednesday, November 19th. Scotiabank raised their price target on Rexford Industrial Realty from $43.00 to $44.00 and gave the stock a “sector perform” rating in a research report on Monday, November 10th. Wall Street Zen cut Rexford Industrial Realty from a “hold” rating to a “sell” rating in a research note on Saturday, October 18th. Finally, Barclays boosted their price objective on Rexford Industrial Realty from $35.00 to $39.00 and gave the company an “underweight” rating in a report on Monday, September 15th. Three equities research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Rexford Industrial Realty presently has a consensus rating of “Hold” and an average target price of $43.08.

Hedge Funds Weigh In On Rexford Industrial Realty

Several large investors have recently bought and sold shares of REXR. Northwestern Mutual Wealth Management Co. raised its stake in 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 valued at $27,000 after buying an additional 553 shares in the last quarter. Vision Financial Markets LLC purchased a new position in shares of Rexford Industrial Realty in the 3rd quarter valued at about $33,000. Wiser Advisor Group LLC acquired a new stake in shares of Rexford Industrial Realty during the 3rd quarter worth about $34,000. Allworth Financial LP raised its position in shares of Rexford Industrial Realty by 140.3% during the 3rd quarter. Allworth Financial LP now owns 983 shares of the real estate investment trust’s stock worth $40,000 after acquiring an additional 574 shares in the last quarter. Finally, Quent Capital LLC purchased a new stake in Rexford Industrial Realty during the third quarter worth approximately $41,000. 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.