Insider Selling: Rexford Industrial Realty Inc (REXR) General Counsel Sells 5,085 Shares of Stock

Rexford Industrial Realty Inc (NYSE:REXR) General Counsel David E. Lanzer sold 5,085 shares of the business’s stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $38.19, for a total transaction of $194,196.15. Following the completion of the transaction, the general counsel now directly owns 5,718 shares in the company, valued at $218,370.42. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

REXR traded up $0.17 on Friday, reaching $37.80. 875,876 shares of the company’s stock were exchanged, compared to its average volume of 693,723. The company has a market cap of $3.88 billion, a PE ratio of 33.75, a price-to-earnings-growth ratio of 3.54 and a beta of 0.87. Rexford Industrial Realty Inc has a twelve month low of $28.17 and a twelve month high of $39.21. 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 (NYSE:REXR) last released its earnings results on Tuesday, April 30th. The real estate investment trust reported $0.08 EPS for the quarter, missing the Thomson Reuters’ consensus estimate 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 business had revenue of $60.36 million for the quarter, compared to analysts’ expectations of $60.05 million. During the same quarter last year, the company posted $0.27 earnings per share. The business’s quarterly revenue was up 24.4% compared to the same quarter last year. On average, sell-side analysts predict that Rexford Industrial Realty Inc will post 1.2 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Friday, June 28th will be given a $0.185 dividend. This represents a $0.74 annualized dividend and a yield of 1.96%. The ex-dividend date of this dividend is Thursday, June 27th. Rexford Industrial Realty’s dividend payout ratio is presently 66.07%.

Several equities research analysts have commented on REXR shares. Zacks Investment Research lowered shares of Rexford Industrial Realty from a “buy” rating to a “hold” rating in a research report on Saturday, May 18th. Wells Fargo & Co upped their target price on shares of Rexford Industrial Realty from $32.00 to $37.00 and gave the company a “market perform” rating in a report on Thursday, March 14th. They noted that the move was a valuation call. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $38.33.

Hedge funds and other institutional investors have recently modified their holdings of the business. California State Teachers Retirement System increased its holdings in shares of Rexford Industrial Realty by 4.0% during the fourth quarter. California State Teachers Retirement System now owns 144,474 shares of the real estate investment trust’s stock valued at $4,258,000 after purchasing an additional 5,540 shares during the period. Timbercreek Investment Management Inc. increased its holdings 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 purchasing an additional 119,031 shares during the period. JPMorgan Chase & Co. increased its holdings 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 purchasing an additional 1,400,758 shares during the period. United Services Automobile Association increased its holdings in shares of Rexford Industrial Realty by 247.7% during the fourth quarter. United Services Automobile Association now owns 66,325 shares of the real estate investment trust’s stock valued at $1,955,000 after purchasing an additional 47,249 shares during the period. Finally, Norges Bank acquired a new position in shares of Rexford Industrial Realty during the fourth quarter valued at $29,836,000. 98.68% of the stock is currently owned by hedge funds and other institutional investors.

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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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