Brokerages Expect Rexford Industrial Realty Inc (REXR) Will Announce Earnings of $0.27 Per Share

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Wall Street analysts expect Rexford Industrial Realty Inc (NYSE:REXR) to announce $0.27 earnings per share (EPS) for the current quarter, Zacks Investment Research reports. Four analysts have issued estimates for Rexford Industrial Realty’s earnings, with the lowest EPS estimate coming in at $0.26 and the highest estimate coming in at $0.27. Rexford Industrial Realty posted earnings per share of $0.26 during the same quarter last year, which indicates a positive year over year growth rate of 3.8%. The firm is expected to issue its next earnings results on Tuesday, February 12th.

On average, 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 $1.10. For the next financial year, analysts anticipate that the company will post earnings of $1.15 per share, with EPS estimates ranging from $1.14 to $1.17. Zacks Investment Research’s earnings per share averages are an average based on a survey of research firms that cover Rexford Industrial Realty.

Rexford Industrial Realty (NYSE:REXR) last issued its quarterly earnings data on Tuesday, October 30th. The real estate investment trust reported $0.07 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.03 by $0.04. The business had revenue of $54.47 million during the quarter, compared to the consensus estimate of $55.09 million. Rexford Industrial Realty had a return on equity of 3.18% and a net margin of 22.47%. The business’s revenue was up 26.0% on a year-over-year basis. During the same period in the previous year, the firm posted $0.25 earnings per share.

Several equities research analysts recently commented on REXR shares. TheStreet raised Rexford Industrial Realty from a “c+” rating to a “b-” rating in a report on Friday, November 2nd. Zacks Investment Research raised shares of Rexford Industrial Realty from a “hold” rating to a “buy” rating and set a $36.00 target price on the stock in a research note on Thursday, October 4th. Finally, Capital One Financial upgraded shares of Rexford Industrial Realty from an “equal weight” rating to an “overweight” rating in a report on Wednesday, August 1st. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $33.00.

Shares of NYSE REXR traded down $0.32 during midday trading on Friday, hitting $32.98. 348,453 shares of the company’s stock were exchanged, compared to its average volume of 452,263. The company has a current ratio of 6.21, a quick ratio of 6.21 and a debt-to-equity ratio of 0.47. The company has a market cap of $3.08 billion, a PE ratio of 34.35, a P/E/G ratio of 3.81 and a beta of 0.66. Rexford Industrial Realty has a twelve month low of $26.32 and a twelve month high of $33.46.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 15th. Stockholders of record on Monday, December 31st will be given a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.94%. The ex-dividend date is Friday, December 28th. Rexford Industrial Realty’s dividend payout ratio is currently 66.67%.

Several institutional investors and hedge funds have recently made changes to their positions in REXR. Assetmark Inc. raised its position in shares of Rexford Industrial Realty by 2,555.0% during the second quarter. Assetmark Inc. now owns 3,717 shares of the real estate investment trust’s stock valued at $117,000 after buying an additional 3,577 shares during the last quarter. Ladenburg Thalmann Financial Services Inc. raised its position in shares of Rexford Industrial Realty by 104.2% during the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 4,230 shares of the real estate investment trust’s stock valued at $121,000 after buying an additional 2,158 shares during the last quarter. Nissay Asset Management Corp Japan ADV acquired a new position in shares of Rexford Industrial Realty during the third quarter valued at about $205,000. D.A. Davidson & CO. acquired a new position in shares of Rexford Industrial Realty during the second quarter valued at about $210,000. Finally, Toronto Dominion Bank acquired a new position in shares of Rexford Industrial Realty during the second quarter valued at about $282,000. 99.15% of the stock is owned by institutional investors and hedge funds.

About Rexford Industrial Realty

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.

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Earnings History and Estimates for Rexford Industrial Realty (NYSE:REXR)

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