Analysts expect that Rexford Industrial Realty Inc (NYSE:REXR) will announce earnings of $0.31 per share for the current quarter, according to Zacks Investment Research. Four analysts have made estimates for Rexford Industrial Realty’s earnings, with the lowest EPS estimate coming in at $0.29 and the highest estimate coming in at $0.31. Rexford Industrial Realty reported earnings of $0.28 per share during the same quarter last year, which would indicate a positive year-over-year growth rate of 10.7%. The company is expected to issue its next quarterly earnings report on Tuesday, October 29th.
According to Zacks, analysts expect that Rexford Industrial Realty will report full year earnings of $1.21 per share for the current fiscal year, with EPS estimates ranging from $1.20 to $1.22. For the next fiscal year, analysts forecast that the business will report earnings of $1.32 per share, with EPS estimates ranging from $1.25 to $1.39. Zacks’ EPS averages are an average based on a survey of research firms that follow Rexford Industrial Realty.
Rexford Industrial Realty (NYSE:REXR) last posted its quarterly earnings results on Tuesday, July 30th. The real estate investment trust reported $0.12 EPS for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.17). Rexford Industrial Realty had a return on equity of 2.63% and a net margin of 21.02%. The business had revenue of $63.60 million for the quarter, compared to the consensus estimate of $63.33 million. During the same quarter in the previous year, the business posted $0.27 EPS. The company’s revenue for the quarter was up 23.3% on a year-over-year basis.
REXR has been the subject of a number of research analyst reports. Zacks Investment Research cut Rexford Industrial Realty from a “buy” rating to a “hold” rating in a report on Thursday, July 11th. Stifel Nicolaus boosted their price objective on Rexford Industrial Realty from $41.00 to $46.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Three investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $42.67.
Rexford Industrial Realty stock traded down $0.04 during midday trading on Friday, reaching $44.31. 19,218 shares of the company’s stock were exchanged, compared to its average volume of 511,600. Rexford Industrial Realty has a 52 week low of $28.17 and a 52 week high of $44.92. The company has a debt-to-equity ratio of 0.34, a quick ratio of 7.17 and a current ratio of 7.17. The firm has a market cap of $4.89 billion, a price-to-earnings ratio of 39.54, a P/E/G ratio of 5.10 and a beta of 0.80. The stock’s 50-day simple moving average is $43.13 and its 200 day simple moving average is $39.42.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th will be issued a dividend of $0.185 per share. This represents a $0.74 dividend on an annualized basis and a dividend yield of 1.67%. The ex-dividend date is Friday, September 27th. Rexford Industrial Realty’s dividend payout ratio is presently 66.07%.
In other news, CEO Howard Schwimmer sold 23,600 shares of Rexford Industrial Realty stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $41.70, for a total value of $984,120.00. Following the transaction, the chief executive officer now owns 68,958 shares in the company, valued at approximately $2,875,548.60. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 1.70% of the company’s stock.
Institutional investors and hedge funds have recently modified their holdings of the company. Point72 Asset Management L.P. bought a new position in shares of Rexford Industrial Realty in the 2nd quarter valued at $36,000. Whittier Trust Co. increased its stake in shares of Rexford Industrial Realty by 96.5% in the 2nd quarter. Whittier Trust Co. now owns 2,335 shares of the real estate investment trust’s stock valued at $94,000 after purchasing an additional 1,147 shares during the last quarter. NEXT Financial Group Inc grew its position in Rexford Industrial Realty by 58.3% during the 2nd quarter. NEXT Financial Group Inc now owns 2,483 shares of the real estate investment trust’s stock worth $100,000 after acquiring an additional 914 shares during the last quarter. Pearl River Capital LLC bought a new stake in Rexford Industrial Realty during the 2nd quarter worth $124,000. Finally, Assetmark Inc. grew its position in Rexford Industrial Realty by 9.2% during the 2nd quarter. Assetmark Inc. now owns 4,909 shares of the real estate investment trust’s stock worth $198,000 after acquiring an additional 415 shares during the last quarter. Institutional investors own 99.00% of the company’s stock.
Rexford Industrial Realty Company Profile
Rexford Industrial is a real estate investment trust focused on owning and operating industrial properties in Southern California infill markets. The Company owns 179 properties with approximately 22.1 million rentable square feet and manages an additional 20 properties with approximately 1.2 million rentable square feet.
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