Real Estate Management Services LLC cut its position in Rexford Industrial Realty Inc (NASDAQ:REXR) by 83.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 153,700 shares of the company’s stock after selling 751,000 shares during the period. Real Estate Management Services LLC’s holdings in Rexford Industrial Realty were worth $3,242,000 as of its most recent SEC filing.
Separately, Insight Capital Research & Management Inc. acquired a new position in shares of Rexford Industrial Realty during the second quarter worth about $2,899,000.
Rexford Industrial Realty Inc (NASDAQ:REXR) traded down 2.40% during midday trading on Monday, reaching $22.34. 184,285 shares of the company’s stock traded hands. The company has a market capitalization of $1.47 billion and a PE ratio of 84.94. The firm’s 50 day moving average price is $22.30 and its 200-day moving average price is $20.61. Rexford Industrial Realty Inc has a 1-year low of $13.93 and a 1-year high of $23.38.
Rexford Industrial Realty (NASDAQ:REXR) last issued its quarterly earnings results on Wednesday, August 3rd. The company reported $0.21 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.21. The business earned $30.61 million during the quarter, compared to analysts’ expectations of $26.48 million. During the same period in the prior year, the business earned $0.19 EPS. The business’s quarterly revenue was up 34.7% on a year-over-year basis. Equities analysts expect that Rexford Industrial Realty Inc will post $0.86 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, October 17th. Shareholders 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 yield of 2.42%.
A number of equities analysts have recently issued reports on REXR shares. Zacks Investment Research raised Rexford Industrial Realty from a “hold” rating to a “buy” rating and set a $24.00 price target on the stock in a research report on Wednesday, July 6th. DA Davidson upped their target price on Rexford Industrial Realty from $22.06 to $27.00 and gave the company a “buy” rating in a research report on Friday, August 26th. Citigroup Inc. upped their target price on Rexford Industrial Realty from $18.50 to $22.00 and gave the company a “neutral” rating in a research report on Thursday, July 7th. TheStreet raised Rexford Industrial Realty from a “hold” rating to a “buy” rating in a research report on Tuesday, July 19th. Finally, National Securities reissued a “hold” rating and issued a $22.00 target price (up from $20.00) on shares of Rexford Industrial Realty in a research report on Thursday, August 4th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $23.75.
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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