Rexford Industrial Realty Inc (REXR) Sees Large Volume Increase
Rexford Industrial Realty Inc (NASDAQ:REXR) shares saw an uptick in trading volume on Friday . 408,114 shares traded hands during trading, an increase of 51% from the previous session’s volume of 270,830 shares.The stock last traded at $21.42 and had previously closed at $21.38.
A number of brokerages recently weighed in on REXR. DA Davidson upped their price objective on Rexford Industrial Realty from $22.06 to $27.00 and gave the stock a “buy” rating in a report on Friday, August 26th. Jefferies Group reaffirmed a “buy” rating on shares of Rexford Industrial Realty in a report on Thursday, August 18th. National Securities reaffirmed a “hold” rating and set a $22.00 price objective (up previously from $20.00) on shares of Rexford Industrial Realty in a report on Thursday, August 4th. Zacks Investment Research raised Rexford Industrial Realty from a “sell” rating to a “hold” rating in a report on Friday, July 22nd. Finally, TheStreet raised 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’s stock. The company presently has an average rating of “Buy” and an average price target of $23.75.
The stock has a market cap of $1.41 billion and a P/E ratio of 81.60. The firm’s 50 day moving average is $22.23 and its 200-day moving average is $20.18.
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Rexford Industrial Realty (NASDAQ:REXR) last issued its earnings results on Wednesday, August 3rd. The company reported $0.21 EPS for the quarter, hitting the consensus estimate of $0.21. The firm earned $30.61 million during the quarter, compared to analyst estimates of $26.48 million. Rexford Industrial Realty’s revenue was up 34.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.19 EPS. On average, equities research analysts forecast that Rexford Industrial Realty Inc will post $0.86 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, October 17th. Stockholders of record on Friday, September 30th will be given a $0.135 dividend. The ex-dividend date of this dividend is Wednesday, September 28th. This represents a $0.54 annualized dividend and a dividend yield of 2.52%.
Several hedge funds and other institutional investors have recently modified their holdings of REXR. Panagora Asset Management Inc. purchased a new position in shares of Rexford Industrial Realty during the second quarter valued at approximately $131,000. Teacher Retirement System of Texas raised its position in shares of Rexford Industrial Realty by 33.2% in the second quarter. Teacher Retirement System of Texas now owns 9,102 shares of the company’s stock valued at $192,000 after buying an additional 2,271 shares during the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its position in shares of Rexford Industrial Realty by 16.5% in the second quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 10,241 shares of the company’s stock valued at $216,000 after buying an additional 1,454 shares during the last quarter. Dynamic Technology Lab Private Ltd purchased a new position in shares of Rexford Industrial Realty during the second quarter valued at approximately $264,000. Finally, Mizuho Trust & Banking Co. Ltd. raised its position in shares of Rexford Industrial Realty by 23.8% in the second quarter. Mizuho Trust & Banking Co. Ltd. now owns 12,714 shares of the company’s stock valued at $268,000 after buying an additional 2,443 shares during the last quarter.
Rexford Industrial Realty Company Profile
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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