Brokerages Anticipate Rexford Industrial Realty Inc (REXR) to Post $0.25 EPS

Wall Street analysts expect Rexford Industrial Realty Inc (NYSE:REXR) to announce $0.25 earnings per share (EPS) for the current fiscal quarter, Zacks reports. Five analysts have made estimates for Rexford Industrial Realty’s earnings. The lowest EPS estimate is $0.24 and the highest is $0.26. Rexford Industrial Realty reported earnings of $0.23 per share during the same quarter last year, which would indicate a positive year-over-year growth rate of 8.7%. The company is expected to issue its next quarterly earnings report on Thursday, February 15th.

On average, analysts expect that Rexford Industrial Realty will report full-year earnings of $0.96 per share for the current financial year, with EPS estimates ranging from $0.94 to $0.97. For the next financial year, analysts forecast that the business will post earnings of $1.08 per share, with EPS estimates ranging from $1.04 to $1.14. Zacks’ earnings per share averages are an average based on a survey of analysts that cover Rexford Industrial Realty.

Rexford Industrial Realty (NYSE:REXR) last announced its earnings results on Tuesday, October 31st. The real estate investment trust reported $0.25 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.24 by $0.01. Rexford Industrial Realty had a net margin of 23.50% and a return on equity of 3.39%. The business had revenue of $43.30 million for the quarter, compared to analyst estimates of $41.77 million. During the same quarter in the previous year, the firm posted $0.22 earnings per share. Rexford Industrial Realty’s revenue was up 30.0% compared to the same quarter last year.

A number of equities research analysts have weighed in on REXR shares. JPMorgan Chase & Co. downgraded shares of Rexford Industrial Realty from a “neutral” rating to an “underweight” rating and set a $29.00 price target on the stock. in a research note on Friday, December 15th. BidaskClub upgraded shares of Rexford Industrial Realty from a “hold” rating to a “buy” rating in a research note on Saturday, November 4th. Zacks Investment Research downgraded shares of Rexford Industrial Realty from a “buy” rating to a “hold” rating in a research note on Wednesday, October 25th. B. Riley restated a “neutral” rating on shares of Rexford Industrial Realty in a research note on Tuesday, November 7th. Finally, National Securities restated a “buy” rating and issued a $34.00 target price on shares of Rexford Industrial Realty in a research note on Monday, November 27th. One research analyst has rated the stock with a sell rating, three have given a hold rating and six have given a buy rating to the stock. Rexford Industrial Realty has a consensus rating of “Buy” and a consensus target price of $30.78.

Large investors have recently made changes to their positions in the business. Vanguard Group Inc. increased its stake in shares of Rexford Industrial Realty by 16.2% in the 2nd quarter. Vanguard Group Inc. now owns 9,200,033 shares of the real estate investment trust’s stock valued at $252,449,000 after acquiring an additional 1,282,548 shares during the last quarter. BlackRock Inc. increased its stake in shares of Rexford Industrial Realty by 0.6% in the 2nd quarter. BlackRock Inc. now owns 5,869,600 shares of the real estate investment trust’s stock valued at $161,061,000 after acquiring an additional 37,038 shares during the last quarter. Principal Financial Group Inc. increased its stake in shares of Rexford Industrial Realty by 93.4% in the 3rd quarter. Principal Financial Group Inc. now owns 3,235,956 shares of the real estate investment trust’s stock valued at $92,613,000 after acquiring an additional 1,562,996 shares during the last quarter. State Street Corp increased its stake in shares of Rexford Industrial Realty by 1.2% in the 2nd quarter. State Street Corp now owns 2,233,196 shares of the real estate investment trust’s stock valued at $61,276,000 after acquiring an additional 25,694 shares during the last quarter. Finally, Prudential Financial Inc. increased its stake in Rexford Industrial Realty by 2.0% during the 3rd quarter. Prudential Financial Inc. now owns 1,615,616 shares of the real estate investment trust’s stock worth $46,239,000 after purchasing an additional 30,987 shares in the last quarter. 99.85% of the stock is owned by hedge funds and other institutional investors.

Shares of Rexford Industrial Realty (REXR) opened at $29.07 on Tuesday. Rexford Industrial Realty has a 52 week low of $21.34 and a 52 week high of $31.71. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.72 and a current ratio of 0.72. The firm has a market cap of $2,235.70, a price-to-earnings ratio of 67.61, a price-to-earnings-growth ratio of 3.45 and a beta of 0.77.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, January 15th. Shareholders of record on Friday, December 29th will be issued a dividend of $0.145 per share. The ex-dividend date of this dividend is Thursday, December 28th. This represents a $0.58 annualized dividend and a yield of 2.00%. Rexford Industrial Realty’s dividend payout ratio is currently 134.89%.

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Rexford Industrial Realty Company Profile

Rexford Industrial Realty, Inc is a self-administered and self-managed full-service real estate investment trust (REIT). The Company is focused on owning, operating and acquiring industrial properties in Southern California infill markets. Rexford Industrial Realty, L.P. is the operating partnership of the Company.

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