Rexford Industrial Realty Inc (NYSE:REXR) CFO Adeel Khan sold 49,721 shares of the stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $46.01, for a total transaction of $2,287,663.21. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.
Shares of NYSE REXR traded down $0.42 during mid-day trading on Monday, reaching $47.44. 934,031 shares of the company’s stock traded hands, compared to its average volume of 699,995. Rexford Industrial Realty Inc has a 1-year low of $28.17 and a 1-year high of $48.80. The stock has a market cap of $5.31 billion, a P/E ratio of 42.36, a PEG ratio of 5.57 and a beta of 0.77. The business has a 50-day simple moving average of $46.70 and a 200 day simple moving average of $42.87. The company has a debt-to-equity ratio of 0.38, a current ratio of 5.82 and a quick ratio of 5.82.
Rexford Industrial Realty (NYSE:REXR) last released its quarterly earnings results on Tuesday, October 29th. The real estate investment trust reported $0.31 earnings per share for the quarter, topping the consensus estimate of $0.30 by $0.01. Rexford Industrial Realty had a net margin of 21.32% and a return on equity of 2.61%. The business had revenue of $68.06 million for the quarter, compared to analysts’ expectations of $67.50 million. During the same period in the previous year, the company earned $0.28 earnings per share. The firm’s revenue for the quarter was up 23.3% compared to the same quarter last year. Equities research analysts anticipate that Rexford Industrial Realty Inc will post 1.22 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be issued a dividend of $0.185 per share. This represents a $0.74 annualized dividend and a yield of 1.56%. The ex-dividend date of this dividend is Monday, December 30th. Rexford Industrial Realty’s dividend payout ratio (DPR) is presently 66.07%.
A number of brokerages have weighed in on REXR. Citigroup raised their target price on shares of Rexford Industrial Realty from $42.00 to $47.00 and gave the company a “neutral” rating in a research report on Monday, September 23rd. Zacks Investment Research downgraded shares of Rexford Industrial Realty from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 22nd. Finally, ValuEngine cut shares of Rexford Industrial Realty from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Five equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Rexford Industrial Realty presently has a consensus rating of “Hold” and a consensus target price of $45.00.
A number of institutional investors have recently added to or reduced their stakes in REXR. Point72 Asset Management L.P. purchased a new position in Rexford Industrial Realty during the second quarter worth about $36,000. New York State Teachers Retirement System bought a new stake in Rexford Industrial Realty in the third quarter worth about $40,000. Whittier Trust Co. raised its position in Rexford Industrial Realty by 96.5% in the second quarter. Whittier Trust Co. now owns 2,335 shares of the real estate investment trust’s stock worth $94,000 after acquiring an additional 1,147 shares during the period. NEXT Financial Group Inc raised its position in Rexford Industrial Realty by 58.3% in the second quarter. NEXT Financial Group Inc now owns 2,483 shares of the real estate investment trust’s stock worth $100,000 after acquiring an additional 914 shares during the period. Finally, Pearl River Capital LLC bought a new stake in Rexford Industrial Realty in the second quarter worth about $124,000. Institutional investors and hedge funds own 99.51% of the company’s stock.
About Rexford Industrial Realty
Rexford Industrial is a real estate investment trust focused on owning and operating industrial properties in Southern California infill markets. The Company owns 179 properties with approximately 22.1 million rentable square feet and manages an additional 20 properties with approximately 1.2 million rentable square feet.
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