Rexford Industrial Realty Inc (REXR) CFO Sells $1,520,000.00 in Stock

Rexford Industrial Realty Inc (NYSE:REXR) CFO Adeel Khan sold 40,000 shares of the firm’s stock in a transaction dated Thursday, May 23rd. The shares were sold at an average price of $38.00, for a total transaction of $1,520,000.00. Following the sale, the chief financial officer now owns 40,000 shares of the company’s stock, valued at $1,520,000. The transaction was disclosed in a document filed with the SEC, which is accessible through this link.

NYSE:REXR traded down $0.29 on Thursday, reaching $37.46. 819,589 shares of the stock traded hands, compared to its average volume of 668,739. The firm has a market cap of $3.93 billion, a P/E ratio of 33.45, a P/E/G ratio of 4.17 and a beta of 0.87. The company has a debt-to-equity ratio of 0.38, a quick ratio of 8.34 and a current ratio of 8.34. Rexford Industrial Realty Inc has a 12 month low of $28.17 and a 12 month high of $39.21.

Rexford Industrial Realty (NYSE:REXR) last released its quarterly earnings data on Tuesday, April 30th. The real estate investment trust reported $0.08 earnings per share for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.20). Rexford Industrial Realty had a net margin of 18.77% and a return on equity of 2.43%. The firm had revenue of $60.36 million for the quarter, compared to the consensus estimate of $60.05 million. During the same quarter in the prior year, the business posted $0.27 earnings per share. The firm’s revenue for the quarter was up 24.4% compared to the same quarter last year. On average, equities research analysts predict that Rexford Industrial Realty Inc will post 1.2 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Friday, June 28th will be paid a $0.185 dividend. The ex-dividend date is Thursday, June 27th. This represents a $0.74 dividend on an annualized basis and a dividend yield of 1.98%. Rexford Industrial Realty’s dividend payout ratio is presently 66.07%.

Hedge funds have recently made changes to their positions in the company. California State Teachers Retirement System boosted its holdings in shares of Rexford Industrial Realty by 4.0% in the fourth quarter. California State Teachers Retirement System now owns 144,474 shares of the real estate investment trust’s stock worth $4,258,000 after buying an additional 5,540 shares during the last quarter. Timbercreek Investment Management Inc. raised its position in shares of Rexford Industrial Realty by 48.8% during the first quarter. Timbercreek Investment Management Inc. now owns 362,731 shares of the real estate investment trust’s stock valued at $12,989,000 after buying an additional 119,031 shares during the last quarter. JPMorgan Chase & Co. raised its position in shares of Rexford Industrial Realty by 115.1% during the third quarter. JPMorgan Chase & Co. now owns 2,617,974 shares of the real estate investment trust’s stock valued at $83,671,000 after buying an additional 1,400,758 shares during the last quarter. United Services Automobile Association increased its position in Rexford Industrial Realty by 247.7% in the fourth quarter. United Services Automobile Association now owns 66,325 shares of the real estate investment trust’s stock worth $1,955,000 after purchasing an additional 47,249 shares during the last quarter. Finally, Norges Bank bought a new stake in Rexford Industrial Realty in the fourth quarter worth $29,836,000. Hedge funds and other institutional investors own 95.63% of the company’s stock.

A number of research firms have weighed in on REXR. Zacks Investment Research lowered shares of Rexford Industrial Realty from a “buy” rating to a “hold” rating in a research note on Saturday, May 18th. Wells Fargo & Co raised their price objective on shares of Rexford Industrial Realty from $32.00 to $37.00 and gave the company a “market perform” rating in a research note on Thursday, March 14th. They noted that the move was a valuation call. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $38.33.

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Rexford Industrial Realty Company Profile

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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