Rexford Industrial Realty Inc (REXR) Shares Up 1.4%
Rexford Industrial Realty Inc (NASDAQ:REXR) shot up 1.4% during mid-day trading on Tuesday . The stock traded as high as $22.05 and last traded at $22.05, with a volume of 145,059 shares trading hands. The stock had previously closed at $21.74.
Several research firms recently issued reports on REXR. TheStreet raised Rexford Industrial Realty from a “hold” rating to a “buy” rating in a research note on Tuesday. Citigroup Inc. lifted their price objective 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. Zacks Investment Research raised Rexford Industrial Realty from a “hold” rating to a “buy” rating and set a $24.00 price objective for the company in a research note on Wednesday, July 6th. Finally, National Securities began coverage on Rexford Industrial Realty in a research note on Tuesday, July 12th. They set a “neutral” rating and a $20.00 price objective for the company.
The firm’s 50 day moving average price is $20.97 and its 200-day moving average price is $18.53. The stock has a market cap of $1.23 billion and a price-to-earnings ratio of 454.90.
The business also recently announced a quarterly dividend, which was paid on Friday, July 15th. Shareholders of record on Thursday, June 30th were paid a dividend of $0.135 per share. The ex-dividend date was Tuesday, June 28th. This represents a $0.54 dividend on an annualized basis and a yield of 2.42%.
In other news, CEO Michael S. Frankel sold 23,380 shares of the company’s stock in a transaction on Friday, June 3rd. The stock was sold at an average price of $20.06, for a total value of $469,002.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Adeel Khan sold 17,893 shares of the company’s 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 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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