Michael Frankel Sells 7,400 Shares of Rexford Industrial Realty (NYSE:REXR) Stock

Rexford Industrial Realty, Inc. (NYSE:REXR) CEO Michael Frankel sold 7,400 shares of Rexford Industrial Realty stock in a transaction on Wednesday, December 3rd. The stock was sold at an average price of $41.51, for a total value of $307,174.00. Following the transaction, the chief executive officer owned 622,606 shares in the company, valued at approximately $25,844,375.06. This represents a 1.17% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Rexford Industrial Realty Trading Down 1.2%

REXR stock traded down $0.48 during trading on Thursday, reaching $41.16. 1,589,490 shares of the stock were exchanged, compared to its average volume of 1,690,109. The company has a current ratio of 2.95, a quick ratio of 2.95 and a debt-to-equity ratio of 0.37. The firm has a market capitalization of $9.58 billion, a price-to-earnings ratio of 28.98, a P/E/G ratio of 2.58 and a beta of 1.22. The business has a 50 day moving average price of $41.59 and a 200-day moving average price of $39.26. Rexford Industrial Realty, Inc. has a 1 year low of $29.68 and a 1 year high of $44.38.

Rexford Industrial Realty (NYSE:REXR) last announced its quarterly earnings results on Wednesday, October 15th. The real estate investment trust reported $0.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.59 by $0.01. The business had revenue of $253.24 million during the quarter, compared to the consensus estimate 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 was up 4.7% compared to the same quarter last year. During the same quarter last year, the firm earned $0.59 EPS. Rexford Industrial Realty has set its FY 2025 guidance at 2.390-2.410 EPS. On average, research analysts predict 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 announced a quarterly dividend, which will be paid on Thursday, January 15th. Shareholders of record on Wednesday, December 31st will be given a $0.43 dividend. The ex-dividend date of this dividend is Wednesday, December 31st. This represents a $1.72 dividend on an annualized basis and a yield of 4.2%. Rexford Industrial Realty’s dividend payout ratio is presently 121.13%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Northwestern Mutual Wealth Management Co. grew its position in shares of Rexford Industrial Realty by 403.6% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 690 shares of the real estate investment trust’s stock worth $27,000 after buying an additional 553 shares in the last quarter. Vision Financial Markets LLC purchased a new position in Rexford Industrial Realty in the third quarter worth approximately $33,000. Wiser Advisor Group LLC purchased a new position in Rexford Industrial Realty in the third quarter worth approximately $34,000. Allworth Financial LP grew its holdings in 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 shares of Rexford Industrial Realty in the 3rd quarter valued at approximately $41,000. 99.52% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

REXR has been the topic of a number of research reports. Industrial Alliance Securities set a $42.00 price target on Rexford Industrial Realty in a research note on Wednesday, November 19th. Wolfe Research downgraded Rexford Industrial Realty from an “outperform” rating to a “peer perform” rating in a report on Monday, October 20th. BNP Paribas lowered Rexford Industrial Realty to a “hold” rating in a research note on Tuesday, October 21st. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Rexford Industrial Realty in a research report on Wednesday, October 8th. Finally, Cantor Fitzgerald initiated coverage on shares of Rexford Industrial Realty in a research note on Wednesday, October 1st. They set an “overweight” rating and a $50.00 price target on the stock. Three research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $43.08.

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.