REIT Stocks Under Scanner -- Prologis, Duke Realty, Extra Space Storage, and Rexford Industrial Realty

Sep 15, 2016, 07:50 ET from Chelmsford Park SA

NEW YORK, September 15, 2016 /PRNewswire/ --

Ahead of today's trading session, turns investors' attention to the Industrial REITs space which comprises about 8% of the Real Estate Investment Trust Index. Over the past year, the segment has been one of the strongest performers in the sector due to the growth of e-commerce. Let us review the recent performances of the following stocks and see where they stand in the market right now: Prologis Inc. (NYSE: PLD), Duke Realty Corp. (NYSE: DRE), Extra Space Storage Inc. (NYSE: EXR), and Rexford Industrial Realty Inc. (NYSE: REXR). You can access of our complimentary research reports on these stocks now at:


San Francisco, California-based Prologis Inc.'s stock finished Wednesday's session at $51.50, gaining 0.68%. A total volume of 2.69 million shares traded. Over the previous three months and since the start of this year, the Company's shares have advanced 3.25% and 22.23%, respectively. The stock is trading above its 200-day moving average by 13.46%. Moreover, shares of Prologis, which invests in the real estate markets across the globe, have a Relative Strength Index (RSI) of 40.83.

On August 17th, 2016, research firm Robert W. Baird downgraded the Company's stock rating from 'Outperform' to 'Neutral'. The research firm also revised upwards its previous target price from $52 to $54.

On September 8th, 2016, the Board of Directors of Prologis declared a regular cash dividend of $0.42 per share of its common stock, which will be payable on September 30th, 2016, to common stockholders of record at the close of business on September 19th 2016; and a dividend of $1.0675 per share on the company's 8.54% Series Q Cumulative Redeemable Preferred Stock, which will be payable on September 30th, 2016, to Series Q stockholders of record at the close of business on September 19th, 2016. Visit us today and download your complete report on PLD for free at:

Duke Realty  

Shares in Indianapolis, Indiana headquartered Duke Realty Corp. ended yesterday's session 0.38% higher at $26.52 with a total trading volume of 2.06 million shares. The stock has gained 6.93% in the previous three months and 29.18% on an YTD basis. The Company's shares are trading 14.88% above their 200-day moving average. Moreover, shares of Duke Realty, which invests in the real estate markets of the US, have an RSI of 32.74.

As per notes filed with the SEC on August 9th, 2016, Duke Realty Corp. and Duke Realty Limited Partnership entered into an Equity Distribution Agreement with Barclays Capital Inc., BB&T Capital Markets, Citigroup Global Markets Inc., J.P. Morgan Securities LLC, RBC Capital Markets, LLC, Scotia Capital (USA) Inc., and Wells Fargo Securities, LLC, as sales agents and/or principals. Under the terms of the Equity Distribution Agreement, the company may sell shares of its common stock, $0.01 par value per share, from time to time, to or through the Agents, up to an aggregate offering price of $200,000,000. The company intends to use the net proceeds from any sales of shares of common stock resulting from the Offering to partially fund development, to reduce outstanding indebtedness and for other general corporate purposes. The complimentary research report on DRE can be accessed at:

Extra Space Storage  

On Wednesday, Salt Lake City, Utah-based Extra Space Storage Inc.'s stock rose 1.26%, to close the day at $77.13. A total volume of 1.14 million shares was traded. The Company's shares are trading 9.07% below their 50-day moving average. Additionally, shares of Extra Space Storage, which engages in property management and development activities that include acquiring, managing, developing, and selling, as well as the rental of self-storage facilities, have an RSI of 30.62.

On September 12th, 2016, Extra Space Storage announced that Spencer F. Kirk will retire as Chief Executive Officer effective December 31st, 2016. Mr. Kirk will continue to serve on the Company's board of directors. The board of directors has selected Joseph (Joe) D. Margolis to succeed Mr. Kirk as Chief Executive Officer, effective January 1st, 2017. Register for free on and download the PDF research report on EXR at:

Rexford Industrial Realty  

Shares in Los Angeles, California-based Rexford Industrial Realty Inc. ended the day 0.19% higher at $21.48. A total volume of 242,441 shares was traded. The stock has gained 4.11% in the previous three months and 33.18% since the start of this year. The Company's shares are trading above their 200-day moving average by 14.24%. Furthermore, shares of Rexford Industrial Realty, which invests in the real estate markets of Southern California, US, have an RSI of 39.65.

On September 8th, 2016, Rexford Industrial Realty announced the acquisition of a two-building industrial property with excess land for approximately $15.0 million. The acquisition was funded using cash on hand. Get free access to your research report on REXR at:


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