Rexford Industrial Realty Inc (REXR) Hits New 52-Week High at $22.47
Shares of Rexford Industrial Realty Inc (NASDAQ:REXR) 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 trading hands. The stock had previously closed at $22.13.
Several analysts recently issued reports on REXR shares. TheStreet raised Rexford Industrial Realty from a “hold” rating to a “buy” rating in a research note on Tuesday, July 19th. Zacks Investment Research raised Rexford Industrial Realty from a “hold” rating to a “buy” rating and set a $24.00 target price on the stock in a research note on Wednesday, July 6th. National Securities started coverage on Rexford Industrial Realty in a research note on Tuesday, July 12th. They set a “neutral” rating and a $20.00 target price on the stock. Finally, Citigroup Inc. lifted their target price on Rexford Industrial Realty from $18.50 to $22.00 and gave the company a “neutral” rating in a research note on Thursday, July 7th.
The stock has a 50 day moving average price of $21.39 and a 200-day moving average price of $18.83. The stock has a market cap of $1.26 billion and a price-to-earnings ratio of 466.53.
The company also recently disclosed a quarterly dividend, which was paid on Friday, July 15th. Stockholders of record on Thursday, June 30th were issued a $0.135 dividend. This represents a $0.54 dividend on an annualized basis and a dividend yield of 2.36%. The ex-dividend date was Tuesday, June 28th.
In other news, CEO Michael S. Frankel sold 23,380 shares of the stock in a transaction dated Friday, June 3rd. The stock was sold at an average price of $20.06, for a total value of $469,002.80. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Adeel Khan sold 17,893 shares of the stock in a transaction dated Monday, June 13th. The shares were sold at an average price of $20.87, for a total value of $373,426.91. Following the completion of the transaction, the chief financial officer now directly owns 43,510 shares in the company, valued at $908,053.70. 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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