Equities analysts forecast that Rexford Industrial Realty, Inc. (NYSE:REXR) will report earnings per share of $0.25 for the current fiscal quarter, according to Zacks Investment Research. Six analysts have issued estimates for Rexford Industrial Realty’s earnings, with the lowest EPS estimate coming in at $0.24 and the highest estimate coming in at $0.27. Rexford Industrial Realty posted earnings per share of $0.07 during the same quarter last year, which would suggest a positive year over year growth rate of 257.1%. The company is scheduled to report its next quarterly earnings results on Thursday, February 15th.
According to Zacks, 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 fiscal year, analysts expect that the firm will post earnings of $1.07 per share, with EPS estimates ranging from $1.04 to $1.11. Zacks Investment Research’s EPS averages are an average based on a survey of research analysts that cover Rexford Industrial Realty.
Rexford Industrial Realty (NYSE:REXR) last announced its quarterly earnings data on Tuesday, October 31st. The real estate investment trust reported $0.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.24 by $0.01. The firm had revenue of $43.30 million for the quarter, compared to the consensus estimate of $41.77 million. Rexford Industrial Realty had a net margin of 23.50% and a return on equity of 3.39%. The business’s revenue for the quarter was up 30.0% on a year-over-year basis. During the same period in the prior year, the company posted $0.22 earnings per share.
REXR has been the topic of a number of analyst reports. National Securities upgraded shares of Rexford Industrial Realty from a “hold” rating to a “buy” rating and increased their price objective for the stock from $23.00 to $32.00 in a research note on Tuesday, August 29th. BidaskClub raised shares of Rexford Industrial Realty from a “hold” rating to a “buy” rating in a report on Friday, September 1st. Stifel Nicolaus reissued a “buy” rating and issued a $33.00 target price (up previously from $30.00) on shares of Rexford Industrial Realty in a report on Thursday, September 14th. Zacks Investment Research raised shares of Rexford Industrial Realty from a “hold” rating to a “buy” rating and set a $33.00 target price for the company in a report on Thursday, August 31st. Finally, Jefferies Group LLC reissued a “buy” rating and issued a $34.00 target price (up previously from $32.00) on shares of Rexford Industrial Realty in a report on Thursday, August 24th. Five research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $30.60.
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Shares of Rexford Industrial Realty (REXR) opened at $30.19 on Friday. The stock has a market cap of $2,350.00, a PE ratio of 32.24, a price-to-earnings-growth ratio of 3.95 and a beta of 0.75. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.72 and a current ratio of 0.72. Rexford Industrial Realty has a one year low of $21.34 and a one year high of $30.66.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, January 15th. Investors of record on Friday, December 29th will be issued a $0.145 dividend. The ex-dividend date is Thursday, December 28th. This represents a $0.58 dividend on an annualized basis and a yield of 1.92%. Rexford Industrial Realty’s dividend payout ratio (DPR) is presently 131.82%.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Victory Capital Management Inc. raised its holdings in Rexford Industrial Realty by 1.9% in the 2nd quarter. Victory Capital Management Inc. now owns 3,743 shares of the real estate investment trust’s stock valued at $103,000 after buying an additional 71 shares during the last quarter. Advisor Group Inc. raised its holdings in Rexford Industrial Realty by 13.6% in the 2nd quarter. Advisor Group Inc. now owns 3,787 shares of the real estate investment trust’s stock valued at $103,000 after buying an additional 453 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Rexford Industrial Realty by 10.9% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,758 shares of the real estate investment trust’s stock valued at $131,000 after buying an additional 469 shares during the last quarter. GAM Holding AG raised its holdings in Rexford Industrial Realty by 7.5% in the 2nd quarter. GAM Holding AG now owns 5,712 shares of the real estate investment trust’s stock valued at $157,000 after buying an additional 400 shares during the last quarter. Finally, Hillsdale Investment Management Inc. bought a new position in Rexford Industrial Realty in the 2nd quarter valued at approximately $159,000. Institutional investors and hedge funds own 92.46% of the company’s stock.
About Rexford Industrial Realty
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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