Insider Selling: Rexford Industrial Realty, Inc. (NYSE:REXR) CEO Sells 15,350 Shares of Stock

Rexford Industrial Realty, Inc. (NYSE:REXRGet Rating) CEO Howard Schwimmer sold 15,350 shares of the business’s stock in a transaction dated Monday, August 1st. The stock was sold at an average price of $65.27, for a total transaction of $1,001,894.50. Following the transaction, the chief executive officer now owns 52,720 shares in the company, valued at $3,441,034.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Howard Schwimmer also recently made the following trade(s):

  • On Monday, July 25th, Howard Schwimmer sold 16,402 shares of Rexford Industrial Realty stock. The shares were sold at an average price of $62.15, for a total transaction of $1,019,384.30.
  • On Wednesday, June 15th, Howard Schwimmer sold 16,500 shares of Rexford Industrial Realty stock. The shares were sold at an average price of $59.90, for a total transaction of $988,350.00.

Rexford Industrial Realty Trading Up 0.1 %

NYSE REXR opened at $64.77 on Friday. Rexford Industrial Realty, Inc. has a 12 month low of $55.84 and a 12 month high of $84.68. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.55 and a quick ratio of 0.55. The company has a market capitalization of $11.08 billion, a price-to-earnings ratio of 68.18, a price-to-earnings-growth ratio of 2.97 and a beta of 0.76. The company’s fifty day moving average price is $61.12 and its two-hundred day moving average price is $68.31.

Rexford Industrial Realty (NYSE:REXRGet Rating) last posted its quarterly earnings results on Wednesday, July 20th. The real estate investment trust reported $0.22 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.02). Rexford Industrial Realty had a return on equity of 3.17% and a net margin of 29.79%. The business had revenue of $149.12 million during the quarter, compared to the consensus estimate of $149.21 million. During the same quarter in the previous year, the business posted $0.39 earnings per share. The company’s quarterly revenue was up 42.9% compared to the same quarter last year. As a group, research analysts predict that Rexford Industrial Realty, Inc. will post 1.94 earnings per share for the current fiscal year.

Rexford Industrial Realty Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Saturday, October 15th. Shareholders of record on Friday, September 30th will be paid a dividend of $0.315 per share. The ex-dividend date is Thursday, September 29th. This represents a $1.26 annualized dividend and a yield of 1.95%. Rexford Industrial Realty’s payout ratio is 132.63%.

Hedge Funds Weigh In On Rexford Industrial Realty

Large investors have recently bought and sold shares of the stock. State Board of Administration of Florida Retirement System boosted its position in shares of Rexford Industrial Realty by 8.1% during the 2nd quarter. State Board of Administration of Florida Retirement System now owns 101,364 shares of the real estate investment trust’s stock valued at $5,838,000 after purchasing an additional 7,558 shares in the last quarter. Landscape Capital Management L.L.C. bought a new position in shares of Rexford Industrial Realty during the 2nd quarter valued at about $919,000. Lindenwold Advisors bought a new position in shares of Rexford Industrial Realty during the 2nd quarter valued at about $383,000. Reaves W H & Co. Inc. boosted its position in shares of Rexford Industrial Realty by 2.8% during the 2nd quarter. Reaves W H & Co. Inc. now owns 238,172 shares of the real estate investment trust’s stock valued at $13,716,000 after purchasing an additional 6,452 shares in the last quarter. Finally, M&T Bank Corp boosted its position in shares of Rexford Industrial Realty by 57.1% during the 2nd quarter. M&T Bank Corp now owns 23,516 shares of the real estate investment trust’s stock valued at $1,353,000 after purchasing an additional 8,545 shares in the last quarter. Institutional investors and hedge funds own 98.53% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on REXR. StockNews.com lowered shares of Rexford Industrial Realty from a “hold” rating to a “sell” rating in a research report on Thursday, July 21st. Robert W. Baird boosted their price objective on shares of Rexford Industrial Realty from $87.00 to $89.00 in a research report on Friday, July 22nd. Wolfe Research began coverage on shares of Rexford Industrial Realty in a research report on Tuesday, June 21st. They issued a “market perform” rating and a $63.00 price objective for the company. Wells Fargo & Company cut their price objective on shares of Rexford Industrial Realty from $90.00 to $74.00 and set an “overweight” rating for the company in a research report on Monday, June 6th. Finally, Jefferies Financial Group decreased their target price on shares of Rexford Industrial Realty from $89.00 to $73.00 in a research note on Thursday, June 30th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $76.60.

About Rexford Industrial Realty

(Get Rating)

Rexford Industrial, a real estate investment trust focused on owning and operating industrial properties throughout Southern California infill markets, owns 232 properties with approximately 27.9 million rentable square feet and manages an additional 20 properties with approximately 1.0 million rentable square feet.

Featured Articles

Receive News & Ratings for Rexford Industrial Realty Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Rexford Industrial Realty and related companies with MarketBeat.com's FREE daily email newsletter.