Equities analysts predict that Rexford Industrial Realty (NYSE:REXR) will post $0.26 earnings per share (EPS) for the current fiscal quarter, Zacks reports. Four analysts have issued estimates for Rexford Industrial Realty’s earnings. The lowest EPS estimate is $0.25 and the highest is $0.26. Rexford Industrial Realty posted earnings per share of $0.23 in the same quarter last year, which would suggest a positive year over year growth rate of 13%. The firm is expected to issue its next quarterly earnings results on Tuesday, August 7th.
On average, analysts expect that Rexford Industrial Realty will report full-year earnings of $1.06 per share for the current year, with EPS estimates ranging from $1.05 to $1.08. For the next year, analysts forecast that the business will report earnings of $1.15 per share, with EPS estimates ranging from $1.12 to $1.19. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of research firms that cover Rexford Industrial Realty.
Rexford Industrial Realty (NYSE:REXR) last posted its quarterly earnings data on Tuesday, February 13th. The real estate investment trust reported $0.15 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.25 by ($0.10). Rexford Industrial Realty had a return on equity of 4.29% and a net margin of 28.58%. The firm had revenue of $45.88 million during the quarter, compared to analysts’ expectations of $45.29 million.
A number of analysts recently weighed in on the stock. DA Davidson reissued a “buy” rating on shares of Rexford Industrial Realty in a research report on Wednesday, February 14th. Zacks Investment Research lowered shares of Rexford Industrial Realty from a “hold” rating to a “sell” rating in a research report on Saturday, February 17th. Capital One lowered shares of Rexford Industrial Realty from an “overweight” rating to an “equal weight” rating in a research report on Wednesday, February 14th. National Securities reissued a “buy” rating and issued a $34.00 price objective on shares of Rexford Industrial Realty in a research report on Tuesday, February 27th. Finally, Stifel Nicolaus increased their price objective on shares of Rexford Industrial Realty from $30.00 to $34.00 and gave the stock a “buy” rating in a research report on Friday, May 4th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $32.33.
Rexford Industrial Realty traded down $0.17, reaching $32.32, during midday trading on Tuesday, MarketBeat reports. The stock had a trading volume of 560,700 shares, compared to its average volume of 572,729. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.08 and a quick ratio of 0.50. Rexford Industrial Realty has a 52-week low of $25.21 and a 52-week high of $32.91. The firm has a market capitalization of $2.63 billion, a P/E ratio of 33.67, a price-to-earnings-growth ratio of 4.99 and a beta of 0.73.
The business also recently announced a quarterly dividend, which will be paid on Monday, July 16th. Stockholders of record on Friday, June 29th 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 1.98%. The ex-dividend date of this dividend is Thursday, June 28th. Rexford Industrial Realty’s dividend payout ratio (DPR) is presently 66.67%.
Large investors have recently modified their holdings of the company. Symphony Asset Management LLC purchased a new position in shares of Rexford Industrial Realty during the first quarter worth approximately $216,000. Jefferies Group LLC purchased a new position in shares of Rexford Industrial Realty during the fourth quarter worth approximately $222,000. Eaton Vance Management purchased a new position in shares of Rexford Industrial Realty during the fourth quarter worth approximately $229,000. Victory Capital Management Inc. increased its position in shares of Rexford Industrial Realty by 128.1% during the first quarter. Victory Capital Management Inc. now owns 8,539 shares of the real estate investment trust’s stock worth $246,000 after acquiring an additional 4,796 shares during the period. Finally, Daiwa Securities Group Inc. increased its position in shares of Rexford Industrial Realty by 19.0% during the first quarter. Daiwa Securities Group Inc. now owns 10,000 shares of the real estate investment trust’s stock worth $288,000 after acquiring an additional 1,600 shares during the period. 99.52% of the stock is currently owned by institutional investors and hedge funds.
Rexford Industrial Realty Company Profile
Rexford Industrial is a real estate investment trust focused on owning and operating industrial properties in Southern California infill markets. The Company owns 150 properties with approximately 18.5 million rentable square feet and manages an additional 19 properties with approximately 1.2 million rentable square feet.
Get a free copy of the Zacks research report on Rexford Industrial Realty (REXR)
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Rexford Industrial Realty Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Rexford Industrial Realty and related companies with MarketBeat.com's FREE daily email newsletter.