Rexford Industrial Realty Inc (NYSE:REXR) – Equities research analysts at DA Davidson lowered their Q3 2019 EPS estimates for Rexford Industrial Realty in a report released on Wednesday, October 31st. DA Davidson analyst B. Oxford now expects that the real estate investment trust will post earnings of $0.29 per share for the quarter, down from their prior forecast of $0.30. DA Davidson also issued estimates for Rexford Industrial Realty’s Q4 2019 earnings at $0.30 EPS, Q1 2020 earnings at $0.30 EPS, Q2 2020 earnings at $0.31 EPS, Q3 2020 earnings at $0.31 EPS and FY2020 earnings at $1.24 EPS.
Rexford Industrial Realty (NYSE:REXR) last announced its quarterly earnings results on Tuesday, October 30th. The real estate investment trust reported $0.07 EPS for the quarter, beating the Zacks’ consensus estimate of $0.03 by $0.04. The company had revenue of $54.47 million for the quarter, compared to analysts’ expectations of $55.09 million. Rexford Industrial Realty had a net margin of 22.47% and a return on equity of 3.34%. Rexford Industrial Realty’s revenue was up 26.0% compared to the same quarter last year. During the same period in the prior year, the company posted $0.25 EPS.
A number of other analysts have also recently commented on the stock. Zacks Investment Research upgraded shares of Rexford Industrial Realty from a “sell” rating to a “hold” rating in a research note on Friday. TheStreet cut shares of Rexford Industrial Realty from a “b” rating to a “c+” rating in a research note on Wednesday, August 1st. Finally, Capital One Financial upgraded shares of Rexford Industrial Realty from an “equal weight” rating to an “overweight” rating in a research note on Wednesday, August 1st. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the company’s stock. Rexford Industrial Realty has a consensus rating of “Hold” and an average target price of $33.00.
Shares of REXR stock opened at $31.99 on Friday. The company has a market cap of $2.91 billion, a P/E ratio of 33.32, a price-to-earnings-growth ratio of 3.70 and a beta of 0.67. The company has a debt-to-equity ratio of 0.48, a quick ratio of 8.47 and a current ratio of 8.47. Rexford Industrial Realty has a 12 month low of $26.32 and a 12 month high of $32.91.
Several hedge funds have recently made changes to their positions in REXR. Assetmark Inc. increased its holdings in Rexford Industrial Realty by 2,555.0% during the 2nd quarter. Assetmark Inc. now owns 3,717 shares of the real estate investment trust’s stock worth $117,000 after acquiring an additional 3,577 shares during the period. Ladenburg Thalmann Financial Services Inc. increased its holdings in Rexford Industrial Realty by 104.2% during the 1st quarter. Ladenburg Thalmann Financial Services Inc. now owns 4,230 shares of the real estate investment trust’s stock worth $121,000 after acquiring an additional 2,158 shares during the period. Nissay Asset Management Corp Japan ADV bought a new stake in Rexford Industrial Realty during the 3rd quarter worth approximately $205,000. D.A. Davidson & CO. bought a new stake in Rexford Industrial Realty during the 2nd quarter worth approximately $210,000. Finally, Toronto Dominion Bank bought a new stake in Rexford Industrial Realty during the 2nd quarter worth approximately $282,000. Institutional investors own 99.36% of the company’s stock.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 15th. Investors of record on Monday, December 31st will be paid a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 2.00%. The ex-dividend date of this dividend is Friday, December 28th. Rexford Industrial Realty’s payout ratio is currently 66.67%.
About Rexford Industrial Realty
Rexford Industrial is a real estate investment trust focused on owning and operating industrial properties in Southern California infill markets. The Company owns 166 properties with approximately 20.3 million rentable square feet and manages an 20 properties with approximately 1.2 million rentable square feet.
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