Taking a Closer Look At Rexford Industrial Realty Inc. (REXR) Following Its Recent Trade


Rexford Industrial Realty Inc.’s recently made public that its Co-CEO, Co-President Schwimmer Howard unloaded Company’s shares for reported $1.0 million on Aug 01. In the deal valued at $65.27 per share,15,350 shares were sold. As a result of this transaction, Schwimmer Howard now holds 52,720 shares worth roughly $ 2.85 million.

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Then, Schwimmer Howard sold 16,402 shares, generating $1,019,361 in total proceeds. Upon selling the shares at $62.15, the Co-CEO, Co-President now owns 68,070 shares.

Before that, Schwimmer Howard sold 16,500 shares. Rexford Industrial Realty Inc. shares valued at $988,408 were divested by the Co-CEO, Co-President at a price of $59.90 per share. As a result of the transaction, Schwimmer Howard now holds 84,472 shares, worth roughly $4.56 million.

Stifel initiated its Rexford Industrial Realty Inc. [REXR] rating to a Buy in a research note published on Friday, October 13, 2022; the price target was $64. PT values the company’s stock at a premium of 15.56 to its Friday closing price. A number of analysts have revised their coverage, including Wolfe Research’s analysts, who began to cover the stock in late June with a ‘”a Peer perform”‘ rating. JP Morgan also remained covering REXR and has increased its forecast on December 20, 2021 with a “an Overweight” recommendation from previously “Neutral” rating. Wells Fargo revised its rating on December 14, 2021. It rated REXR as “an Overweight” which previously was an “an Equal weight”.

Price Performance Review of REXR

On Friday, Rexford Industrial Realty Inc. [NYSE:REXR] saw its stock jump 0.33% to $54.04. On the same session, the stock had its day’s lowest price of $53.00, but rose to a high of $54.95. Over the last five days, the stock has lost -2.38%. Rexford Industrial Realty Inc. shares have fallen nearly -33.37% since the year began. Nevertheless, the stocks have fallen -20.56% over the past one year. While a 52-week high of $84.68 was reached on 04/20/22, a 52-week low of $48.74 was recorded on 10/21/22. SMA at 50 days reached $56.13, while 200 days put it at $65.15. A total of 1.44 million shares were traded, compared to the trading of 1.84 million shares in the previous session.

Levels Of Support And Resistance For REXR Stock

The 24-hour chart illustrates a support level at 53.04, which if violated will result in even more drops to 52.05. On the upside, there is a resistance level at 54.99. A further resistance level may holdings at 55.95. The Relative Strength Index (RSI) on the 14-day chart is 50.02, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.94, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bullish at 28.57%. Stochastics %K at 72.06% indicates the stock is a holding.

How much short interest is there in Rexford Industrial Realty Inc.?

A steep rise in short interest was recorded in Rexford Industrial Realty Inc. stocks on Jul 14, 2022, growing by 0.33 million shares to a total of 9.39 million shares. Yahoo Finance data shows the prior-month short interest on Jun 14, 2022 was 9.06 million shares. There was a rise of 3.51%, which implies that there is a positive sentiment for the stock. In spite of short shares comprising just 7.23% of the overall stock float, the days-to-cover ratio (short ratio) rose to 4.67.

Rexford Industrial Realty Inc. [REXR] – Who Are The Largest Shareholders?

In filings from The Vanguard Group, Inc., it is revealed that the company now owns 23,083,206 shares, or roughly 13.49% of the outstanding REXR shares. In other words, the investor’s shares have risen by 736,091 from its previous 13-F filing of 22347115.0. Additionally, BlackRock Fund Advisors increased 3.66% of its stake after which the total value it holdings stand at $805,625,600, while Principal Global Investors LLC added 17.19% of its stake to hold $582.47 million in the firm. Over the last quarter, SSgA Funds Management, Inc. purchased 202,852 shares of Rexford Industrial Realty Inc., while Principal Real Estate Investors L bought 8,338,119 shares. At present, T. Rowe Price Associates, Inc. is holding 6,601,949 shares valued at $343.3 million. Wellington Management Co. LLP owned 6,481,738 shares of the company at the time of its most recent 13F filing, worth $337.05 million.

According to FactSet, Rexford Industrial Realty Inc.’s share price will average $69.38 in the next year, based on opinions of analysts polled by the firm. This is up nearly 26.25 percent from its previous closing price of $53.86. Analysts expect Rexford Industrial Realty Inc. stock to reach the higher price of $84.00, while the lowest price estimate is $58.00. However, 9 analysts have rated REXR stock as a Buy in their predictions for 2022.


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