Rexford Industrial Realty, Inc. (NYSE:REXR) CEO Howard Schwimmer Sells 30,358 Shares

Rexford Industrial Realty, Inc. (NYSE:REXR) CEO Howard Schwimmer sold 30,358 shares of the stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $48.86, for a total value of $1,483,291.88. Following the transaction, the chief executive officer now owns 50,673 shares in the company, valued at $2,475,882.78. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

Rexford Industrial Realty Stock Performance

Shares of Rexford Industrial Realty stock traded up $0.90 during trading hours on Friday, hitting $49.07. 1,097,416 shares of the company’s stock traded hands, compared to its average volume of 1,776,180. Rexford Industrial Realty, Inc. has a 12-month low of $41.56 and a 12-month high of $58.02. The stock has a market capitalization of $10.77 billion, a price-to-earnings ratio of 45.02, a PEG ratio of 2.00 and a beta of 0.92. The company has a fifty day simple moving average of $45.82 and a 200-day simple moving average of $48.51. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.73 and a quick ratio of 3.21.

Rexford Industrial Realty (NYSE:REXR) last announced its earnings results on Wednesday, July 17th. The real estate investment trust reported $0.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.58 by ($0.21). Rexford Industrial Realty had a net margin of 30.71% and a return on equity of 3.31%. The business had revenue of $237.60 million for the quarter, compared to analysts’ expectations of $227.70 million. During the same period in the prior year, the business earned $0.54 earnings per share. The company’s revenue for the quarter was up 21.3% compared to the same quarter last year. Equities research analysts anticipate that Rexford Industrial Realty, Inc. will post 2.34 EPS 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. Stockholders of record on Monday, September 30th will be given a dividend of $0.4175 per share. The ex-dividend date 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 annualized dividend and a dividend yield of 3.40%. Rexford Industrial Realty’s dividend payout ratio (DPR) is currently 153.21%.

Institutional Investors Weigh In On Rexford Industrial Realty

Several large investors have recently made changes to their positions in the business. Capital International Investors increased its holdings in Rexford Industrial Realty by 687.7% in the 1st quarter. Capital International Investors now owns 19,590,676 shares of the real estate investment trust’s stock worth $985,411,000 after acquiring an additional 17,103,653 shares during the last quarter. Price T Rowe Associates Inc. MD increased its holdings in Rexford Industrial Realty by 26.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 19,933,431 shares of the real estate investment trust’s stock worth $1,002,654,000 after acquiring an additional 4,197,907 shares during the last quarter. Norges Bank purchased a new stake in Rexford Industrial Realty in the 4th quarter worth about $157,685,000. Canada Pension Plan Investment Board increased its holdings in Rexford Industrial Realty by 262.7% in the 1st quarter. Canada Pension Plan Investment Board now owns 2,237,288 shares of the real estate investment trust’s stock worth $112,536,000 after acquiring an additional 1,620,378 shares during the last quarter. Finally, Vanguard Group Inc. increased its holdings in Rexford Industrial Realty by 4.5% in the 4th quarter. Vanguard Group Inc. now owns 28,981,854 shares of the real estate investment trust’s stock worth $1,625,882,000 after acquiring an additional 1,235,894 shares during the last quarter. 99.52% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Wedbush started coverage on Rexford Industrial Realty in a report on Monday, April 22nd. They set a “neutral” rating and a $45.00 price target on the stock. StockNews.com upgraded Rexford Industrial Realty from a “sell” rating to a “hold” rating in a report on Monday. Mizuho cut their target price on Rexford Industrial Realty from $52.00 to $50.00 and set a “neutral” rating on the stock in a report on Friday, May 31st. JPMorgan Chase & Co. increased their target price on Rexford Industrial Realty from $47.00 to $52.00 and gave the stock a “neutral” rating in a report on Thursday. Finally, Evercore ISI started coverage on Rexford Industrial Realty in a report on Wednesday, July 10th. They issued an “outperform” rating and a $54.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $52.30.

About Rexford Industrial Realty

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.