Rexford Industrial Realty Inc (REXR) Trading Down 0.6%
Rexford Industrial Realty Inc (NASDAQ:REXR) shares dropped 0.6% during mid-day trading on Monday . The company traded as low as $22.27 and last traded at $22.33, with a volume of 97,682 shares changing hands. The stock had previously closed at $22.47.
REXR has been the topic of a number of research analyst reports. TheStreet upgraded shares of Rexford Industrial Realty from a “hold” rating to a “buy” rating in a research note on Tuesday, July 19th. Zacks Investment Research upgraded shares of Rexford Industrial Realty from a “hold” rating to a “buy” rating and set a $24.00 price target on the stock in a research report on Wednesday, July 6th. National Securities restated a “hold” rating and issued a $22.00 price target (up from $20.00) on shares of Rexford Industrial Realty in a research report on Thursday, August 4th. 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 firm’s 50 day moving average is $21.85 and its 200 day moving average is $19.38. The firm has a market cap of $1.47 billion and a price-to-earnings ratio of 85.21.
Rexford Industrial Realty (NASDAQ:REXR) last released its quarterly earnings results on Wednesday, August 3rd. The company reported $0.21 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.21. The business earned $30.61 million during the quarter, compared to analyst estimates of $26.48 million. The company’s revenue was up 34.7% on a year-over-year basis. During the same quarter last year, the company posted $0.19 earnings per share. Equities research analysts anticipate that Rexford Industrial Realty Inc will post $0.87 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 17th. Shareholders of record on Friday, September 30th will be paid a dividend of $0.135 per share. The ex-dividend date of this dividend is Wednesday, September 28th. This represents a $0.54 dividend on an annualized basis and a yield of 2.41%.
In other Rexford Industrial Realty news, 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 transaction of $373,426.91. Following the sale, the chief financial officer now directly owns 43,510 shares in the company, valued at $908,053.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Howard Schwimmer sold 11,900 shares of the stock in a transaction dated Tuesday, June 14th. The stock was sold at an average price of $20.56, for a total transaction 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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