Rexford Industrial Realty (NYSE:REXR) Issues FY 2024 Earnings Guidance

Rexford Industrial Realty (NYSE:REXR) updated its FY 2024 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of 2.320-2.340 for the period, compared to the consensus estimate of 2.350. The company issued revenue guidance of -. Rexford Industrial Realty also updated its FY24 guidance to $2.32-2.34 EPS.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on REXR shares. Mizuho reduced their price target on shares of Rexford Industrial Realty from $52.00 to $50.00 and set a neutral rating on the stock in a research report on Friday, May 31st. Wedbush started coverage on shares of Rexford Industrial Realty in a research note on Monday, April 22nd. They set a neutral rating and a $45.00 price target on the stock. Scotiabank dropped their price objective on shares of Rexford Industrial Realty from $55.00 to $51.00 and set a sector outperform rating for the company in a research report on Thursday, May 16th. Evercore ISI initiated coverage on Rexford Industrial Realty in a report on Wednesday, July 10th. They set an outperform rating and a $54.00 price objective on the stock. Finally, Robert W. Baird lowered their target price on Rexford Industrial Realty from $57.00 to $49.00 and set a neutral rating for the company in a research note on Wednesday, May 1st. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and five have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of Hold and a consensus price target of $52.60.

Rexford Industrial Realty Stock Up 0.1 %

NYSE REXR traded up $0.05 during trading hours on Wednesday, hitting $49.74. 5,587,930 shares of the company traded hands, compared to its average volume of 1,782,115. The stock has a market capitalization of $10.83 billion, a price-to-earnings ratio of 45.60, a P/E/G ratio of 2.02 and a beta of 0.92. Rexford Industrial Realty has a twelve month low of $41.56 and a twelve month high of $58.02. The business’s 50-day moving average is $45.25 and its 200-day moving average is $48.78. The company has a debt-to-equity ratio of 0.41, a quick ratio of 3.21 and a current ratio of 3.21.

Rexford Industrial Realty (NYSE:REXR) last announced its quarterly earnings results on Thursday, April 18th. The real estate investment trust reported $0.27 EPS for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.30). The firm had revenue of $214.10 million during the quarter, compared to analyst estimates of $207.39 million. Rexford Industrial Realty had a net margin of 28.84% and a return on equity of 3.04%. The business’s revenue was up 15.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.52 EPS. Sell-side analysts anticipate that Rexford Industrial Realty will post 2.34 earnings per share for the current year.

About Rexford Industrial Realty

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.