Wall Street analysts forecast that Rexford Industrial Realty Inc (NYSE:REXR) will report earnings per share (EPS) of $0.26 for the current fiscal quarter, Zacks Investment Research reports. Four analysts have made estimates for Rexford Industrial Realty’s earnings, with the lowest EPS estimate coming in at $0.25 and the highest estimate coming in at $0.27. Rexford Industrial Realty posted earnings of $0.25 per share in the same quarter last year, which suggests a positive year-over-year growth rate of 4%. The firm is scheduled to report its next earnings results after the market closes on Tuesday, October 30th.
According to Zacks, analysts expect that Rexford Industrial Realty will report full year earnings of $1.08 per share for the current year, with EPS estimates ranging from $1.06 to $1.09. For the next fiscal year, analysts anticipate that the company will report earnings of $1.16 per share, with EPS estimates ranging from $1.14 to $1.20. Zacks’ EPS averages are an average based on a survey of research analysts that follow Rexford Industrial Realty.
Rexford Industrial Realty (NYSE:REXR) last released its quarterly earnings results on Tuesday, July 31st. The real estate investment trust reported $0.06 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.26 by ($0.20). The company had revenue of $51.76 million during the quarter, compared to analysts’ expectations of $49.60 million. Rexford Industrial Realty had a return on equity of 2.93% and a net margin of 20.19%.
Several brokerages have issued reports on REXR. TheStreet lowered Rexford Industrial Realty from a “b” rating to a “c+” rating in a research report on Wednesday, August 1st. Zacks Investment Research lowered Rexford Industrial Realty from a “buy” rating to a “hold” rating in a research report on Saturday, October 6th. Capital One Financial upgraded Rexford Industrial Realty from an “equal weight” rating to an “overweight” rating in a research report on Wednesday, August 1st. Finally, DA Davidson lowered Rexford Industrial Realty from a “buy” rating to a “neutral” rating and dropped their target price for the company from $40.00 to $35.00 in a research report on Friday, June 29th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the company’s stock. Rexford Industrial Realty has a consensus rating of “Hold” and an average price target of $32.57.
In other news, Director Richard S. Ziman sold 102,043 shares of Rexford Industrial Realty stock in a transaction that occurred on Friday, August 3rd. The shares were sold at an average price of $31.32, for a total transaction of $3,195,986.76. Following the completion of the sale, the director now owns 64,918 shares of the company’s stock, valued at $2,033,231.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.80% of the stock is owned by insiders.
Institutional investors have recently bought and sold shares of the company. Strs Ohio raised its stake in shares of Rexford Industrial Realty by 2.7% during the second quarter. Strs Ohio now owns 137,777 shares of the real estate investment trust’s stock valued at $4,324,000 after acquiring an additional 3,670 shares in the last quarter. Toronto Dominion Bank bought a new stake in shares of Rexford Industrial Realty during the second quarter valued at approximately $282,000. Macquarie Group Ltd. raised its stake in shares of Rexford Industrial Realty by 107.3% during the second quarter. Macquarie Group Ltd. now owns 329,999 shares of the real estate investment trust’s stock valued at $10,358,000 after acquiring an additional 170,812 shares in the last quarter. American Century Companies Inc. bought a new stake in shares of Rexford Industrial Realty during the second quarter valued at approximately $15,615,000. Finally, Teachers Insurance & Annuity Association of America raised its stake in shares of Rexford Industrial Realty by 2.8% during the second quarter. Teachers Insurance & Annuity Association of America now owns 103,295 shares of the real estate investment trust’s stock valued at $3,242,000 after acquiring an additional 2,778 shares in the last quarter. 99.35% of the stock is owned by hedge funds and other institutional investors.
Shares of NYSE:REXR opened at $29.90 on Wednesday. Rexford Industrial Realty has a 1 year low of $26.32 and a 1 year high of $32.91. The company has a market cap of $2.92 billion, a price-to-earnings ratio of 31.15, a price-to-earnings-growth ratio of 3.70 and a beta of 0.67. The company has a quick ratio of 8.47, a current ratio of 8.47 and a debt-to-equity ratio of 0.48.
The firm also recently announced a quarterly dividend, which will be paid on Monday, October 15th. Shareholders of record on Friday, September 28th will be given a dividend of $0.16 per share. The ex-dividend date of this dividend is Thursday, September 27th. This represents a $0.64 annualized dividend and a dividend yield of 2.14%. Rexford Industrial Realty’s dividend payout ratio (DPR) is presently 66.67%.
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 166 properties with approximately 20.3 million rentable square feet and manages an 20 properties with approximately 1.2 million rentable square feet.
Featured Story: Buyback
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Rexford Industrial Realty Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Rexford Industrial Realty and related companies with MarketBeat.com's FREE daily email newsletter.