Rexford Industrial Realty, Inc. (NYSE:REXR) – Investment analysts at Capital One Financial raised their Q3 2021 earnings per share estimates for shares of Rexford Industrial Realty in a research report issued to clients and investors on Thursday, September 23rd. Capital One Financial analyst C. Lucas now anticipates that the real estate investment trust will post earnings per share of $0.40 for the quarter, up from their previous forecast of $0.38. Capital One Financial currently has a “Overweight” rating and a $66.00 target price on the stock. Capital One Financial also issued estimates for Rexford Industrial Realty’s FY2021 earnings at $1.56 EPS.
Rexford Industrial Realty (NYSE:REXR) last released its quarterly earnings data on Tuesday, July 20th. The real estate investment trust reported $0.15 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.09 by $0.06. The company had revenue of $104.24 million during the quarter, compared to the consensus estimate of $103.03 million. Rexford Industrial Realty had a net margin of 26.46% and a return on equity of 3.06%. Rexford Industrial Realty’s revenue for the quarter was up 30.7% on a year-over-year basis. During the same period last year, the firm earned $0.32 EPS.
REXR opened at $58.30 on Friday. The company has a 50 day moving average of $61.08 and a 200 day moving average of $57.12. The company has a market cap of $8.03 billion, a PE ratio of 89.69, a price-to-earnings-growth ratio of 3.76 and a beta of 0.60. Rexford Industrial Realty has a 12 month low of $43.61 and a 12 month high of $63.55. The company has a current ratio of 1.46, a quick ratio of 1.46 and a debt-to-equity ratio of 0.34.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 15th. Stockholders of record on Thursday, September 30th will be issued a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.65%. The ex-dividend date is Wednesday, September 29th. Rexford Industrial Realty’s dividend payout ratio is currently 72.73%.
In other news, General Counsel David E. Lanzer sold 14,000 shares of Rexford Industrial Realty stock in a transaction on Thursday, August 5th. The shares were sold at an average price of $62.11, for a total transaction of $869,540.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.50% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of REXR. Resolution Capital Ltd purchased a new position in Rexford Industrial Realty in the 2nd quarter worth $127,596,000. Vanguard Group Inc. raised its position in Rexford Industrial Realty by 7.4% in the 2nd quarter. Vanguard Group Inc. now owns 19,885,279 shares of the real estate investment trust’s stock worth $1,132,467,000 after purchasing an additional 1,370,118 shares during the period. JPMorgan Chase & Co. raised its position in Rexford Industrial Realty by 50.3% in the 1st quarter. JPMorgan Chase & Co. now owns 3,711,995 shares of the real estate investment trust’s stock worth $187,084,000 after purchasing an additional 1,242,691 shares during the period. Principal Financial Group Inc. raised its position in Rexford Industrial Realty by 10.5% in the 2nd quarter. Principal Financial Group Inc. now owns 8,970,413 shares of the real estate investment trust’s stock worth $510,864,000 after purchasing an additional 853,068 shares during the period. Finally, Lasalle Investment Management Securities LLC purchased a new position in Rexford Industrial Realty in the 1st quarter worth $29,258,000.
About Rexford Industrial Realty
Rexford Industrial Realty, Inc is a self-administered and self-managed real estate investment trust, which engages in owning, operating, and acquiring industrial properties. The company was founded on January 18, 2013 and is headquartered in Los Angeles, CA.
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