Saturday, June 25, 2022

Rexford Industrial Realty Inc. [REXR] Co-CEO, Co-President makes an insider purchase of 16,500 shares worth 0.99 million.

Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Rexford Industrial Realty Inc. shares valued at $988,408 were sold by Schwimmer Howard on Jun 15. At $59.90 per share, Schwimmer Howard sold 16,500 shares. The insider’s holdings dropped to 84,472 shares worth approximately $4.84 million following the completion of this transaction.

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Also, Lanzer David E. sold 11,814 shares, netting a total of over 827,428 in proceeds. Following the sale of shares at $70.04 each, the insider now holds 0 shares.

Before that, Frankel Michael S. had sold 115,000 shares from its account. In a trade valued at $8,011,061, the Co-CEO, Co-President traded Rexford Industrial Realty Inc. shares for $69.66 each. Upon closing the transaction, the insider’s holdings decreased to 115,000 shares, worth approximately $0.0.

As published in their initiating research note from Wolfe Research on June 21, 2022, Rexford Industrial Realty Inc. [REXR] has been a Peer perform and the price target has been revised to $63. This represents a 8.97% premium over Wednesday’s closing price. Analysts at JP Morgan upgraded the stock from ‘”a Neutral”‘ to ‘”an Overweight”‘ outlook in a report released in mid December. As of December 14, 2021, Wells Fargo has increased its “an Equal weight” rating to a “an Overweight” for REXR. Earlier on July 19, 2021, CapitalOne upgraded its rating. Their new recommendation was “an Overweight” for REXR stock which previously was a “an Equal weight”.

Analyzing REXR’s Price Performance

On Wednesday, Rexford Industrial Realty Inc. [NYSE: REXR] rose 0.46% to $57.35. The stock’s lowest price that day was $56.39, but it reached a high of $57.72 in the same session. During the last five days, there has been a drop of approximately -1.00%. Over the course of the year, Rexford Industrial Realty Inc. shares have dropped approximately -29.29%. Shares of the company reached a 52-week high of $84.68 on 04/20/22 and a 52-week low of $56.39 on 06/22/22. A 50-day SMA is recorded $68.90, while a 200-day SMA reached $69.46. Nevertheless, trading volume fell to 1.92 million shares from 1.63 million shares the previous day.

Support And Resistance Levels for Rexford Industrial Realty Inc. (REXR)

According to the 24-hour chart, there is a support level at 56.59, which, if violated, would cause prices to drop to 55.82. In the upper region, resistance lies at 57.92. The next price resistance is at 58.48. RSI (Relative Strength Index) is 31.69 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -3.96, which suggests the price will decrease in the coming days. Percent R is at 90.15%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.

Is Rexford Industrial Realty Inc. subject to short interest?

Stocks of Rexford Industrial Realty Inc. saw a sharp rise in short interest on Apr 28, 2022 jumping by 1.56 million shares to 6.56 million. Data from Yahoo Finance shows that the short interest on Mar 30, 2022 was 5.0 million shares. A jump of 23.78% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 5.25 of the overall float, the days-to-cover ratio (short ratio) jumped to 5.25.

Which companies own the most shares of Rexford Industrial Realty Inc. (REXR)?

According to The Vanguard Group, Inc. filings, the company currently owns 22,347,115 shares, which is about 13.54% of the total REXR shares outstanding. The investor’s shares have appreciated by 1,583,435 from its previous 13-F filing of 20763680.0 shares. With the completion of the buy, BlackRock Fund Advisors’s stake is now worth $954,625,993. Principal Global Investors LLC acquire a 1.77% interest valued at $610.47 million while SSgA Funds Management, Inc. purchased a 1,375,680 stake. A total of 8,338,119 shares of Rexford Industrial Realty Inc. were bought by Principal Real Estate Investors L during the quarter, and -1,395,630 were sold by Wellington Management Co. LLP. In its current portfolio, Resolution Capital Ltd. holds 5,572,335 shares valued at $355.91 million.

In terms of Rexford Industrial Realty Inc. share price expectations, FactSet research, analysts set an average price target of $82.89 in the next 12 months, up nearly 50.64% from the previous closing price of $57.09. Analysts anticipate Rexford Industrial Realty Inc. stock to reach $99.00 by 2022, with the lowest price target being $63.00. In spite of this, 9 analysts ranked Rexford Industrial Realty Inc. stock as a Buy at the end of 2022. On October 28, 2020, Berenberg assigned a price target of “a Buy” to the stock and initiated coverage with a $56.

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