Rexford Industrial Realty (NYSE:REXR) Announces Quarterly Earnings Results, Hits Estimates

Rexford Industrial Realty (NYSE:REXR) issued its quarterly earnings results on Thursday. The real estate investment trust reported $0.60 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.60, Zacks reports. The firm had revenue of $235.84 million for the quarter, compared to analyst estimates of $232.95 million. Rexford Industrial Realty had a negative return on equity of 4.61% and a negative net margin of 39.22%. The company’s quarterly revenue was down 5.6% compared to the same quarter last year. During the same period in the previous year, the company posted $0.60 earnings per share.

Rexford Industrial Realty Stock Down 1.4%

NYSE REXR traded down $0.51 during trading on Thursday, hitting $36.30. The stock had a trading volume of 4,104,985 shares, compared to its average volume of 2,608,642. The company has a market capitalization of $8.09 billion, a PE ratio of -20.05 and a beta of 1.18. Rexford Industrial Realty has a 12 month low of $32.14 and a 12 month high of $43.08. The company’s 50-day moving average price is $37.25 and its two-hundred day moving average price is $36.09. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.70 and a current ratio of 1.70.

Analyst Ratings Changes

A number of equities analysts have recently commented on REXR shares. JPMorgan Chase & Co. raised their price objective on shares of Rexford Industrial Realty from $36.00 to $39.00 and gave the stock an “underweight” rating in a report on Monday, August 3rd. BMO Capital Markets increased their price objective on shares of Rexford Industrial Realty from $38.00 to $39.00 and gave the stock an “outperform” rating in a report on Monday, September 28th. Wells Fargo & Company lowered their target price on Rexford Industrial Realty from $44.00 to $43.00 and set an “overweight” rating for the company in a research note on Tuesday, September 1st. Evercore reaffirmed an “outperform” rating on shares of Rexford Industrial Realty in a report on Monday, July 27th. Finally, Raymond James Financial upgraded Rexford Industrial Realty from an “underperform” rating to a “market perform” rating in a research report on Tuesday, September 15th. Seven research analysts have rated the stock with a Buy rating, four have given a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $40.71.

Rexford Industrial Realty Company Profile

Rexford Industrial Realty, Inc (NYSE: REXR) is a publicly traded real estate investment trust focused on owning, operating and acquiring industrial properties. Its portfolio primarily consists of infill logistics, warehouse, distribution and manufacturing facilities that support supply-chain and business operations.

The company concentrates exclusively on Southern California, including the Los Angeles, Orange County, San Diego and Inland Empire industrial markets. Rexford seeks to benefit from the region’s established transportation infrastructure, large consumer base and constrained supply of well-located industrial real estate.

Rexford Industrial Realty became a publicly traded company in 2013.