Rexford Industrial Realty Inc (NYSE:REXR) Expected to Announce Earnings of $0.31 Per Share

Analysts expect that Rexford Industrial Realty Inc (NYSE:REXR) will report earnings per share of $0.31 for the current quarter, according to Zacks. Three analysts have made estimates for Rexford Industrial Realty’s earnings, with the highest EPS estimate coming in at $0.32 and the lowest estimate coming in at $0.30. Rexford Industrial Realty posted earnings per share of $0.29 in the same quarter last year, which would indicate a positive year-over-year growth rate of 6.9%. The business is scheduled to announce its next earnings results on Tuesday, February 11th.

On average, analysts expect that Rexford Industrial Realty will report full-year earnings of $1.22 per share for the current year, with EPS estimates ranging from $1.21 to $1.23. For the next financial year, analysts expect that the firm will post earnings of $1.33 per share, with EPS estimates ranging from $1.30 to $1.38. Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side research firms that follow Rexford Industrial Realty.

Rexford Industrial Realty (NYSE:REXR) last issued its quarterly earnings data on Tuesday, October 29th. The real estate investment trust reported $0.31 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.30 by $0.01. Rexford Industrial Realty had a return on equity of 2.61% and a net margin of 21.32%. The company had revenue of $68.06 million during the quarter, compared to analyst estimates of $67.50 million. During the same quarter in the previous year, the firm earned $0.28 earnings per share. Rexford Industrial Realty’s revenue was up 23.3% on a year-over-year basis.

Several research analysts have recently commented on the company. Zacks Investment Research lowered Rexford Industrial Realty from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 22nd. ValuEngine lowered Rexford Industrial Realty from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Stifel Nicolaus boosted their price objective on Rexford Industrial Realty from $41.00 to $46.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Finally, Citigroup boosted their price objective on Rexford Industrial Realty from $42.00 to $47.00 and gave the stock a “neutral” rating in a report on Monday, September 23rd. Five analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $45.00.

In other Rexford Industrial Realty news, CEO Michael S. Frankel sold 12,536 shares of the company’s stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $47.46, for a total value of $594,958.56. Following the completion of the sale, the chief executive officer now owns 71,834 shares of the company’s stock, valued at $3,409,241.64. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Michael S. Frankel sold 35,463 shares of the company’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $47.97, for a total value of $1,701,160.11. Following the completion of the sale, the chief executive officer now directly owns 71,834 shares of the company’s stock, valued at approximately $3,445,876.98. The disclosure for this sale can be found here. Insiders have sold 97,720 shares of company stock valued at $4,583,782 in the last three months. 1.70% of the stock is owned by insiders.

Institutional investors and hedge funds have recently modified their holdings of the business. Fisher Asset Management LLC lifted its position in Rexford Industrial Realty by 5.2% in the second quarter. Fisher Asset Management LLC now owns 111,018 shares of the real estate investment trust’s stock valued at $4,482,000 after purchasing an additional 5,453 shares during the last quarter. AQR Capital Management LLC lifted its position in Rexford Industrial Realty by 0.9% in the second quarter. AQR Capital Management LLC now owns 31,976 shares of the real estate investment trust’s stock valued at $1,291,000 after purchasing an additional 293 shares during the last quarter. Laurion Capital Management LP bought a new stake in Rexford Industrial Realty in the second quarter valued at approximately $1,561,000. Nuveen Asset Management LLC lifted its position in Rexford Industrial Realty by 1,220.3% in the second quarter. Nuveen Asset Management LLC now owns 6,183,483 shares of the real estate investment trust’s stock valued at $249,626,000 after purchasing an additional 5,715,137 shares during the last quarter. Finally, Cubist Systematic Strategies LLC lifted its position in Rexford Industrial Realty by 122.3% in the second quarter. Cubist Systematic Strategies LLC now owns 89,781 shares of the real estate investment trust’s stock valued at $3,624,000 after purchasing an additional 49,395 shares during the last quarter. 99.10% of the stock is owned by institutional investors and hedge funds.

Shares of NYSE REXR traded up $0.08 during midday trading on Tuesday, hitting $46.26. 288,481 shares of the company’s stock were exchanged, compared to its average volume of 703,803. Rexford Industrial Realty has a 12-month low of $28.17 and a 12-month high of $48.80. The company has a current ratio of 5.82, a quick ratio of 7.17 and a debt-to-equity ratio of 0.38. The company has a market cap of $5.16 billion, a price-to-earnings ratio of 41.30, a PEG ratio of 5.41 and a beta of 0.77. The business’s fifty day moving average price is $45.71 and its two-hundred day moving average price is $41.94.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be issued a dividend of $0.185 per share. This represents a $0.74 annualized dividend and a dividend yield of 1.60%. The ex-dividend date of this dividend is Monday, December 30th. Rexford Industrial Realty’s payout ratio is 66.07%.

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 179 properties with approximately 22.1 million rentable square feet and manages an additional 20 properties with approximately 1.2 million rentable square feet.

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Earnings History and Estimates for Rexford Industrial Realty (NYSE:REXR)

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