Rexford Industrial Realty Inc (REXR) Sets New 52-Week High at $21.81
Shares of Rexford Industrial Realty Inc (NASDAQ:REXR) reached a new 52-week high during mid-day trading on Monday . The company traded as high as $21.81 and last traded at $21.80, with a volume of 409,404 shares changing hands. The stock had previously closed at $21.59.
A number of analysts have recently issued reports on the stock. Zacks Investment Research lowered shares of Rexford Industrial Realty from a “buy” rating to a “hold” rating in a research note on Friday. National Securities began coverage on shares of Rexford Industrial Realty in a research report on Tuesday, July 12th. They set a “neutral” rating and a $20.00 price target for the company. Finally, Citigroup Inc. raised their price target on shares of Rexford Industrial Realty from $18.50 to $22.00 and gave the stock a “neutral” rating in a research report on Thursday, July 7th.
The company has a market capitalization of $1.20 billion and a price-to-earnings ratio of 443.67. The firm has a 50 day moving average price of $20.87 and a 200-day moving average price of $18.48.
The firm also recently announced a quarterly dividend, which was paid on Friday, July 15th. Shareholders of record on Thursday, June 30th were paid a dividend of $0.135 per share. The ex-dividend date was Tuesday, June 28th. This represents a $0.54 annualized dividend and a yield of 2.48%.
In related news, CFO Adeel Khan sold 17,893 shares of the business’s stock in a transaction that occurred on Monday, June 13th. The stock was sold at an average price of $20.87, for a total value of $373,426.91. Following the completion of the sale, the chief financial officer now owns 43,510 shares of the company’s stock, valued at approximately $908,053.70. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Howard Schwimmer sold 11,900 shares of the business’s stock in a transaction that occurred on Tuesday, June 14th. The shares were sold at an average price of $20.56, for a total value of $244,664.00. The disclosure for this sale can be found here.
Rexford Industrial Realty, Inc is a self-administered and self-managed full-service real estate investment trust (REIT). The Company is focused on owning, operating and acquiring industrial properties in Southern California infill markets. The Company’s consolidated portfolio consisted of approximately 119 properties with over 12.0 million rentable square feet.
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