Rexford Industrial Realty (NYSE:REXR) Issues Quarterly Earnings Results, Misses Expectations By $0.30 EPS

Rexford Industrial Realty (NYSE:REXR) released its earnings results on Thursday. The real estate investment trust reported $0.27 EPS for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.30), Yahoo Finance reports. Rexford Industrial Realty had a return on equity of 3.04% and a net margin of 28.84%. The company had revenue of $214.10 million during the quarter, compared to analysts’ expectations of $207.39 million. During the same period in the prior year, the company posted $0.52 earnings per share. The company’s revenue was up 15.0% on a year-over-year basis.

Rexford Industrial Realty Stock Performance

NYSE REXR opened at $42.74 on Friday. The company has a market cap of $9.31 billion, a P/E ratio of 39.21, a P/E/G ratio of 1.91 and a beta of 0.86. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.35 and a current ratio of 3.21. The business’s 50 day moving average price is $50.22 and its 200-day moving average price is $50.59. Rexford Industrial Realty has a fifty-two week low of $41.56 and a fifty-two week high of $58.02.

Rexford Industrial Realty Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Friday, June 28th will be given a dividend of $0.417 per share. This represents a $1.67 annualized dividend and a dividend yield of 3.90%. The ex-dividend date is Friday, June 28th. Rexford Industrial Realty’s dividend payout ratio is currently 153.21%.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on REXR shares. Truist Financial dropped their price objective on Rexford Industrial Realty from $57.00 to $53.00 and set a “buy” rating on the stock in a research report on Tuesday. JPMorgan Chase & Co. cut Rexford Industrial Realty from an “overweight” rating to a “neutral” rating and set a $55.00 price objective on the stock. in a research report on Wednesday, February 7th. Barclays started coverage on Rexford Industrial Realty in a research report on Wednesday, March 27th. They set an “underweight” rating and a $45.00 price objective on the stock. TheStreet raised Rexford Industrial Realty from a “c+” rating to a “b-” rating in a research report on Thursday, February 1st. Finally, Robert W. Baird reaffirmed a “neutral” rating and set a $61.00 price objective (up from $53.00) on shares of Rexford Industrial Realty in a research report on Friday, January 5th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, Rexford Industrial Realty has a consensus rating of “Hold” and an average target price of $55.60.

Insider Activity

In other news, General Counsel David E. Lanzer sold 18,113 shares of the business’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $52.69, for a total transaction of $954,373.97. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 1.10% of the company’s stock.

Hedge Funds Weigh In On Rexford Industrial Realty

Large investors have recently bought and sold shares of the business. Money Concepts Capital Corp purchased a new position in Rexford Industrial Realty during the 4th quarter valued at $246,000. Vident Investment Advisory LLC boosted its holdings in Rexford Industrial Realty by 26.0% during the 1st quarter. Vident Investment Advisory LLC now owns 3,247 shares of the real estate investment trust’s stock valued at $242,000 after acquiring an additional 669 shares during the period. IFP Advisors Inc boosted its holdings in Rexford Industrial Realty by 7.0% during the 2nd quarter. IFP Advisors Inc now owns 4,458 shares of the real estate investment trust’s stock valued at $233,000 after acquiring an additional 290 shares during the period. Wexford Capital LP purchased a new position in Rexford Industrial Realty during the 4th quarter valued at $223,000. Finally, Delphia USA Inc. purchased a new position in Rexford Industrial Realty during the 4th quarter valued at $215,000. Hedge funds and other institutional investors own 99.52% of the company’s stock.

Rexford Industrial Realty Company Profile

Rexford Industrial creates value by investing in, operating and redeveloping industrial properties throughout infill Southern California, the world's fourth largest industrial market and consistently the highest-demand with lowest-supply major market in the nation. The Company's highly differentiated strategy enables internal and external growth opportunities through its proprietary value creation and asset management capabilities.