Rexford Industrial Realty, Inc. (NYSE:REXR) General Counsel David E. Lanzer Sells 26,449 Shares

Rexford Industrial Realty, Inc. (NYSE:REXR - Get Free Report) General Counsel David E. Lanzer sold 26,449 shares of Rexford Industrial Realty stock in a transaction dated Monday, July 21st. The shares were sold at an average price of $36.87, for a total transaction of $975,174.63. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Rexford Industrial Realty Stock Performance

Rexford Industrial Realty stock traded down $0.43 during midday trading on Thursday, hitting $37.63. The company's stock had a trading volume of 2,105,146 shares, compared to its average volume of 3,407,056. Rexford Industrial Realty, Inc. has a 1-year low of $29.68 and a 1-year high of $52.61. The company has a debt-to-equity ratio of 0.37, a current ratio of 5.59 and a quick ratio of 4.90. The company has a 50-day moving average price of $36.26 and a two-hundred day moving average price of $37.25. The company has a market cap of $8.91 billion, a price-to-earnings ratio of 27.87, a PEG ratio of 4.23 and a beta of 1.13.

Rexford Industrial Realty (NYSE:REXR - Get Free Report) last issued its quarterly earnings data on Wednesday, July 16th. The real estate investment trust reported $0.59 earnings per share for the quarter, topping the consensus estimate of $0.58 by $0.01. The business had revenue of $241.57 million during the quarter, compared to analysts' expectations of $251.72 million. Rexford Industrial Realty had a net margin of 32.04% and a return on equity of 3.62%. The business's revenue was up 5.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.60 EPS. As a group, sell-side analysts predict that Rexford Industrial Realty, Inc. will post 2.38 earnings per share for the current year.

Rexford Industrial Realty Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th will be given a $0.43 dividend. This represents a $1.72 annualized dividend and a dividend yield of 4.57%. The ex-dividend date of this dividend is Tuesday, September 30th. Rexford Industrial Realty's payout ratio is presently 127.41%.

Analyst Upgrades and Downgrades

REXR has been the subject of several research analyst reports. Robert W. Baird set a $43.00 target price on shares of Rexford Industrial Realty in a report on Tuesday, May 6th. JPMorgan Chase & Co. reduced their target price on shares of Rexford Industrial Realty from $44.00 to $37.00 and set a "neutral" rating for the company in a report on Thursday, April 24th. Truist Financial reduced their target price on shares of Rexford Industrial Realty from $44.00 to $37.00 and set a "buy" rating for the company in a report on Thursday, May 1st. Wells Fargo & Company reduced their target price on shares of Rexford Industrial Realty from $45.00 to $39.00 and set an "overweight" rating for the company in a report on Monday, May 19th. Finally, Barclays reduced their target price 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. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $39.82.

Hedge Funds Weigh In On Rexford Industrial Realty

Several hedge funds and other institutional investors have recently made changes to their positions in REXR. Massachusetts Financial Services Co. MA raised its position in shares of Rexford Industrial Realty by 130.2% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 7,751,922 shares of the real estate investment trust's stock valued at $303,488,000 after buying an additional 4,384,624 shares in the last quarter. Nuveen LLC acquired a new position in shares of Rexford Industrial Realty in the 1st quarter valued at approximately $146,155,000. Rush Island Management LP acquired a new position in shares of Rexford Industrial Realty in the 4th quarter valued at approximately $132,701,000. Norges Bank acquired a new position in shares of Rexford Industrial Realty in the 4th quarter valued at approximately $104,685,000. Finally, Long Pond Capital LP acquired a new position in shares of Rexford Industrial Realty in the 4th quarter valued at approximately $58,595,000. 99.52% of the stock is currently owned by institutional investors and hedge funds.

Rexford Industrial Realty Company Profile

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.