Rexford Industrial Realty Inc (REXR) Hits New 12-Month High at $22.47
Rexford Industrial Realty Inc (NASDAQ:REXR) shares hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $22.47 and last traded at $22.43, with a volume of 101,407 shares traded. The stock had previously closed at $22.13.
REXR has been the subject of a number of analyst reports. Citigroup Inc. raised their price objective on Rexford Industrial Realty from $18.50 to $22.00 and gave the company a “neutral” rating in a research report on Thursday, July 7th. TheStreet raised Rexford Industrial Realty from a “hold” rating to a “buy” rating in a research report on Tuesday, July 19th. Zacks Investment Research raised Rexford Industrial Realty from a “hold” rating to a “buy” rating and set a $24.00 price objective for the company in a research report on Wednesday, July 6th. Finally, National Securities began coverage on Rexford Industrial Realty in a report on Tuesday, July 12th. They issued a “neutral” rating and a $20.00 target price for the company.
The firm has a market capitalization of $1.24 billion and a price-to-earnings ratio of 457.55. The company has a 50 day moving average price of $21.27 and a 200-day moving average price of $18.75.
The company also recently declared a quarterly dividend, which was paid on Friday, July 15th. Investors of record on Thursday, June 30th were issued a $0.135 dividend. The ex-dividend date was Tuesday, June 28th. This represents a $0.54 dividend on an annualized basis and a dividend yield of 2.41%.
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 in the company, valued at $908,053.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Michael S. Frankel sold 23,380 shares of the business’s stock in a transaction that occurred on Friday, June 3rd. The shares were sold at an average price of $20.06, for a total value of $469,002.80. 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.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.