Shares of Rexford Industrial Realty Inc. (NYSE:REXR) traded today at $60.40, eclipsing its 52-week high. Approximately 300,000 shares have changed hands today, as compared to an average 30-day volume of 974,000 shares.
Rexford Industrial Realty Inc. (NYSE:REXR) defies analysts with a current price ($60.22) 17.8% above its average consensus price target of $49.47.
Rexford Industrial Realty Inc is a real estate investment trust primarily engaged in the acquisition, ownership, and operation of industrial properties in Southern California. The company mainly focuses on leasing facilities in infill markets or relatively wealthy urban areas with a general scarcity of developable land. The vast majority of Rexford’s real estate portfolio, in terms of square footage, revenue generation, and total value, comprises light manufacturing and distribution warehouse buildings located in Los Angeles and San Diego. The company’s largest tenants are firms in the wholesale and retail, light manufacturing, industrial equipment, and food and beverage industries.
Rexford Industrial Realty Inc. share prices have moved between a 52-week high of $60.40 and a 52-week low of $39.33 and are now trading 53% above that low price at $60.22 per share.
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