Rexford Industrial Realty Inc (REXR) Reaches New 1-Year High at $22.98
Rexford Industrial Realty Inc (NASDAQ:REXR)’s share price reached a new 52-week high on Friday . The company traded as high as $22.98 and last traded at $22.78, with a volume of 97,209 shares. The stock had previously closed at $22.49.
A number of equities analysts have weighed in on REXR shares. Zacks Investment Research upgraded Rexford Industrial Realty from a “sell” rating to a “hold” rating in a report on Friday, July 22nd. National Securities started coverage on Rexford Industrial Realty in a report on Tuesday, July 12th. They issued a “neutral” rating and a $20.00 price target for the company. Jefferies Group restated a “buy” rating on shares of Rexford Industrial Realty in a report on Thursday, August 18th. DA Davidson upped their price target on Rexford Industrial Realty from $22.06 to $27.00 and gave the stock a “buy” rating in a report on Friday, August 26th. Finally, TheStreet upgraded Rexford Industrial Realty from a “hold” rating to a “buy” rating in a report on Tuesday, July 19th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $23.75.
The stock’s 50-day moving average price is $22.18 and its 200 day moving average price is $19.86. The firm has a market cap of $1.49 billion and a P/E ratio of 86.43.
Rexford Industrial Realty (NASDAQ:REXR) last announced its quarterly earnings data on Wednesday, August 3rd. The company reported $0.21 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.21. During the same period in the prior year, the company posted $0.19 earnings per share. The business earned $30.61 million during the quarter, compared to analysts’ expectations of $26.48 million. The firm’s revenue was up 34.7% on a year-over-year basis. On average, equities research analysts anticipate that Rexford Industrial Realty Inc will post $0.86 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 17th. Investors of record on Friday, September 30th will be paid a $0.135 dividend. This represents a $0.54 annualized dividend and a yield of 2.40%. The ex-dividend date of this dividend is Wednesday, September 28th.
In other news, CFO Adeel Khan sold 17,893 shares of the firm’s stock in a transaction dated Monday, June 13th. The stock was sold at an average price of $20.87, for a total transaction of $373,426.91. Following the completion of the sale, the chief financial officer now directly owns 43,510 shares of the company’s stock, valued at approximately $908,053.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Howard Schwimmer sold 11,900 shares of the firm’s stock in a transaction dated Tuesday, June 14th. The stock was sold at an average price of $20.56, for a total value 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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