Rexford Industrial Realty Inc (REXR) Sets New 52-Week High at $22.98
Rexford Industrial Realty Inc (NASDAQ:REXR)’s share price reached a new 52-week high during trading 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 recently commented on the company. Zacks Investment Research lowered Rexford Industrial Realty from a “buy” rating to a “hold” rating in a research note on Friday, July 15th. National Securities assumed coverage on Rexford Industrial Realty in a research note on Tuesday, July 12th. They issued a “neutral” rating and a $20.00 price objective on the stock. Jefferies Group reiterated a “buy” rating on shares of Rexford Industrial Realty in a research note on Thursday, August 18th. Citigroup Inc. boosted their price target 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. Finally, DA Davidson boosted their price target on Rexford Industrial Realty from $22.06 to $27.00 and gave the company a “buy” rating in a research note on Friday, August 26th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $23.75.
The stock’s 50-day moving average is $22.21 and its 200 day moving average is $19.86. The stock has a market cap of $1.50 billion and a PE ratio of 86.77.
Rexford Industrial Realty (NASDAQ:REXR) last posted its quarterly earnings data on Wednesday, August 3rd. The company reported $0.21 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.21. The business had revenue of $30.61 million for the quarter, compared to analyst estimates of $26.48 million. During the same quarter in the prior year, the company earned $0.19 earnings per share. The company’s quarterly revenue was up 34.7% on a year-over-year basis. Equities research analysts anticipate that Rexford Industrial Realty Inc will post $0.86 EPS for the current fiscal year.
The firm also recently disclosed 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. The ex-dividend date of this dividend is Wednesday, September 28th. This represents a $0.54 dividend on an annualized basis and a dividend yield of 2.37%.
In related news, CEO Howard Schwimmer sold 11,900 shares of the firm’s stock in a transaction dated Tuesday, June 14th. The shares were sold at an average price of $20.56, for a total value of $244,664.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Adeel Khan sold 17,893 shares of the firm’s 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 completion of the sale, the chief financial officer now owns 43,510 shares of the company’s stock, 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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