Rexford Industrial Realty Inc (REXR) Shares Up 1.4%
Rexford Industrial Realty Inc (NASDAQ:REXR) shot up 1.4% on Tuesday . The company traded as high as $22.05 and last traded at $22.05, with a volume of 145,059 shares traded. The stock had previously closed at $21.74.
A number of research firms have weighed in on REXR. Zacks Investment Research lowered shares of Rexford Industrial Realty from a “buy” rating to a “hold” rating in a report on Friday. National Securities began coverage on shares of Rexford Industrial Realty in a report on Tuesday, July 12th. They set a “neutral” rating and a $20.00 target price on the stock. Finally, Citigroup Inc. boosted their target price 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 market cap of $1.22 billion and a PE ratio of 451.02. The stock has a 50-day moving average price of $20.87 and a 200 day moving average price of $18.48.
The company also recently declared a quarterly dividend, which was paid on Friday, July 15th. Stockholders of record on Thursday, June 30th were issued a $0.135 dividend. This represents a $0.54 dividend on an annualized basis and a dividend yield of 2.48%. The ex-dividend date was Tuesday, June 28th.
In other 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 value of $373,426.91. Following the sale, the chief financial officer now directly owns 43,510 shares of the company’s stock, valued at $908,053.70. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Michael S. Frankel sold 23,380 shares of the stock in a transaction dated Friday, June 3rd. The stock was sold at an average price of $20.06, for a total transaction of $469,002.80. 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.