Rexford Industrial Realty Inc (REXR) Shares Down 0.6%
Rexford Industrial Realty Inc (NASDAQ:REXR)’s share price dropped 0.6% during trading on Monday . The stock traded as low as $22.27 and last traded at $22.33, with a volume of 97,682 shares. The stock had previously closed at $22.47.
REXR has been the topic of several recent analyst reports. TheStreet upgraded shares of Rexford Industrial Realty from a “hold” rating to a “buy” rating in a report 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 objective on the stock in a report on Wednesday, July 6th. National Securities restated a “hold” rating and issued a $22.00 price objective (up from $20.00) on shares of Rexford Industrial Realty in a report on Thursday, August 4th. Finally, Citigroup Inc. upped their price objective on shares of Rexford Industrial Realty from $18.50 to $22.00 and gave the stock a “neutral” rating in a report on Thursday, July 7th.
The stock has a 50 day moving average price of $21.90 and a 200-day moving average price of $19.42. The firm has a market cap of $1.44 billion and a P/E ratio of 83.31.
Rexford Industrial Realty (NASDAQ:REXR) last posted its quarterly earnings results on Wednesday, August 3rd. The company reported $0.21 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.21. The company had revenue of $30.61 million for the quarter, compared to the consensus estimate of $26.48 million. The business’s revenue was up 34.7% on a year-over-year basis. During the same period in the prior year, the firm posted $0.19 EPS. Equities research analysts predict that Rexford Industrial Realty Inc will post $0.86 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, October 17th. Stockholders of record on Friday, September 30th will be paid a dividend of $0.135 per share. This represents a $0.54 annualized dividend and a dividend yield of 2.45%. The ex-dividend date is Wednesday, September 28th.
In related news, 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Howard Schwimmer sold 11,900 shares of the business’s stock in a transaction that occurred on 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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