Rexford Industrial Realty, Inc. (NYSE: REXR) changed 0.16% to recent value of $43.97. The stock transacted 667015 shares during most recent day however it has an average volume of 703.31K shares. It spotted trading -2.11% off 52-week high price. On the other end, the stock has been noted 56.09% away from the low price over the last 52-weeks.
Rexford Industrial Realty, Inc. (NYSE: REXR), a real estate investment trust focused on owning and operating industrial properties located in Southern California infill markets, announced the pricing of an underwritten public offering of 3,000,000 shares of 5.625% Series C Cumulative Redeemable Preferred Stock, for gross proceeds of approximately $75,000,000, before deducting the underwriting discount and estimated offering expenses. The Company has granted the underwriters of the offering a thirty day option to purchase up to 450,000 additional shares of 5.625% Series C Cumulative Redeemable Preferred Stock solely to cover over-allotments, if any. The offering is expected to close on September 20, 2019, subject to customary closing conditions. The Company intends to apply to list the Series C Preferred Stock on the New York Stock Exchange under the symbol “REXR Pr C.”
The Company intends to contribute the net proceeds from this offering to its operating partnership, which intends to use the net proceeds from the offering to fund future acquisitions, fund development or redevelopment activities and for general corporate purposes.
BofA Merrill Lynch and Morgan Stanley are acting as joint book-running managers for the offering.
REXR has a gross margin of 76.40% and an operating margin of 28.00% while its profit margin remained 16.70% for the last 12 months. Its earnings per share (EPS) expected to touch remained -13.90% for this year while earning per share for the next 5-years is expected to reach at 10.00%.
The company has 110.52M of outstanding shares and 108.47M shares were floated in the market. The price moved ahead of 0.83% from the mean of 20 days, 3.49% from mean of 50 days SMA and performed 18.72% from mean of 200 days price. Company’s performance for the week was -0.09%, 4.52% for month and YTD performance remained 49.20%.
Adam Rice reports about Business category. Before joining Technologymalt.com, he worked as a news reporter for other publications, covering technology and health reporting. He earned his Master’s at School of Journalism, where he worked as a news reporter besides learning pertinent skills in magazine editing and interactive production. Adam worked as a reporter for an online news publication in China for two years, covering general city news; he also used to work for an international travel agency before pursuing a career in journalism. In his free time, Adam enjoys outdoor recreation, following sports of all kinds.
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