Key Points
- CEO Michael Frankel sold 18,750 shares on December 8 at an average price of $40.06 for $751,125, reducing his stake by 3.11% to 583,538 shares valued at about $23.38 million.
- Rexford declared a quarterly dividend of $0.43 (annualized $1.72) with an ex-dividend/record date of Dec 31 and payment on Jan 15, implying a 4.3% yield
- The REIT beat quarterly EPS estimates ($0.60 vs. $0.59) with revenue roughly in line at $253.24 million, and set FY2025 EPS guidance of 2.390–2.410, near analysts' consensus of 2.38.
Rexford Industrial Realty, Inc. (NYSE:REXR - Get Free Report) CEO Michael Frankel sold 18,750 shares of the stock in a transaction dated Monday, December 8th. The stock was sold at an average price of $40.06, for a total transaction of $751,125.00. Following the transaction, the chief executive officer directly owned 583,538 shares of the company's stock, valued at $23,376,532.28. This represents a 3.11% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Rexford Industrial Realty Price Performance
Rexford Industrial Realty stock opened at $39.84 on Tuesday. Rexford Industrial Realty, Inc. has a one year low of $29.68 and a one year high of $44.38. The company has a debt-to-equity ratio of 0.37, a quick ratio of 2.95 and a current ratio of 2.95. The business has a fifty day moving average of $41.54 and a two-hundred day moving average of $39.40. The company has a market cap of $9.28 billion, a P/E ratio of 28.06, a price-to-earnings-growth ratio of 2.52 and a beta of 1.22.
Rexford Industrial Realty (NYSE:REXR - Get Free Report) last posted its quarterly earnings results on Wednesday, October 15th. The real estate investment trust reported $0.60 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.59 by $0.01. The company had revenue of $253.24 million during the quarter, compared to the consensus estimate of $253.46 million. Rexford Industrial Realty had a net margin of 33.88% and a return on equity of 3.81%. The company's revenue for the quarter was up 4.7% on a year-over-year basis. During the same period last year, the firm earned $0.59 EPS. Rexford Industrial Realty has set its FY 2025 guidance at 2.390-2.410 EPS. As a group, analysts predict that Rexford Industrial Realty, Inc. will post 2.38 earnings per share for the current fiscal year.
Rexford Industrial Realty Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 15th. Investors of record on Wednesday, December 31st will be given a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a yield of 4.3%. The ex-dividend date is Wednesday, December 31st. Rexford Industrial Realty's dividend payout ratio (DPR) is currently 121.13%.
Institutional Inflows and Outflows
Several hedge funds have recently added to or reduced their stakes in the stock. Nuveen LLC acquired a new stake in shares of Rexford Industrial Realty in the 1st quarter valued at about $146,155,000. Soroban Capital Partners LP boosted its holdings in shares of Rexford Industrial Realty by 57.2% in the 2nd quarter. Soroban Capital Partners LP now owns 9,191,038 shares of the real estate investment trust's stock valued at $326,925,000 after buying an additional 3,344,677 shares during the period. Norges Bank acquired a new position in Rexford Industrial Realty in the second quarter valued at approximately $104,116,000. Royal London Asset Management Ltd. acquired a new position in Rexford Industrial Realty during the 2nd quarter valued at approximately $91,671,000. Finally, Nomura Holdings Inc. grew its stake in Rexford Industrial Realty by 19,554.8% during the 2nd quarter. Nomura Holdings Inc. now owns 2,322,806 shares of the real estate investment trust's stock worth $82,622,000 after buying an additional 2,310,988 shares during the last quarter. 99.52% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
REXR has been the subject of several recent analyst reports. Truist Financial lifted their target price on shares of Rexford Industrial Realty from $44.00 to $45.00 and gave the stock a "buy" rating in a research note on Wednesday, November 5th. Industrial Alliance Securities set a $42.00 price objective on Rexford Industrial Realty in a report on Wednesday, November 19th. Wolfe Research downgraded Rexford Industrial Realty from an "outperform" rating to a "peer perform" rating in a research report on Monday, October 20th. Barclays increased their target price on Rexford Industrial Realty from $35.00 to $39.00 and gave the stock an "underweight" rating in a research report on Monday, September 15th. Finally, Weiss Ratings reissued a "hold (c)" rating on shares of Rexford Industrial Realty in a research note on Wednesday, October 8th. Three equities research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $43.08.
Read Our Latest Stock Analysis on REXR
About Rexford Industrial Realty
(
Get Free Report)
Rexford Industrial Realty, Inc is a self-administered and self-managed real estate investment trust, which engages in owning and operating industrial properties in infill markets. The company was founded by Richard S. Ziman on January 18, 2013 and is headquartered in Los Angeles, CA.
See Also
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
