Rexford Industrial Realty Inc (REXR) Sees Strong Trading Volume
Rexford Industrial Realty Inc (NASDAQ:REXR) shares saw strong trading volume on Thursday . 406,152 shares were traded during trading, an increase of 37% from the previous session’s volume of 297,177 shares.The stock last traded at $22.36 and had previously closed at $22.33.
A number of equities analysts recently weighed in on the stock. TheStreet upgraded shares of Rexford Industrial Realty from a “hold” rating to a “buy” rating in a report on Tuesday, July 19th. National Securities restated a “hold” rating and set a $22.00 target price (up from $20.00) on shares of Rexford Industrial Realty in a report on Thursday, August 4th. Zacks Investment Research upgraded shares of Rexford Industrial Realty from a “sell” rating to a “hold” rating in a report on Friday, July 22nd. DA Davidson boosted their target price on shares of Rexford Industrial Realty from $22.06 to $27.00 and gave the stock a “buy” rating in a report on Friday, August 26th. Finally, Jefferies Group restated a “buy” rating on shares of Rexford Industrial Realty in a report on Thursday, August 18th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $23.75.
The company has a 50-day moving average price of $22.18 and a 200-day moving average price of $19.86. The company has a market capitalization of $1.48 billion and a PE ratio of 85.51.
Rexford Industrial Realty (NASDAQ:REXR) last posted its quarterly earnings results on Wednesday, August 3rd. The company reported $0.21 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.21. The business had revenue of $30.61 million for the quarter, compared to the consensus estimate of $26.48 million. Rexford Industrial Realty’s quarterly revenue was up 34.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.19 earnings per share. Equities analysts predict that Rexford Industrial Realty Inc will post $0.86 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, October 17th. Shareholders of record on Friday, September 30th will be issued a dividend of $0.135 per share. This represents a $0.54 dividend on an annualized basis and a dividend yield of 2.40%. The ex-dividend date is Wednesday, September 28th.
In related news, CEO Howard Schwimmer sold 11,900 shares of the stock in a transaction on Tuesday, June 14th. The stock was sold at an average price of $20.56, for a total value of $244,664.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Adeel Khan sold 17,893 shares of the stock in a transaction 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 transaction, the chief financial officer now 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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