Rexford Industrial Realty (REXR) Releases Quarterly Earnings Results, Beats Estimates By $0.04 EPS

Rexford Industrial Realty (NYSE:REXR) released its quarterly earnings results on Tuesday. The real estate investment trust reported $0.07 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.03 by $0.04, MarketWatch Earnings reports. Rexford Industrial Realty had a net margin of 20.19% and a return on equity of 2.93%. The business had revenue of $54.47 million for the quarter, compared to the consensus estimate of $55.09 million. During the same period in the prior year, the company posted $0.25 earnings per share. Rexford Industrial Realty’s revenue was up 26.0% compared to the same quarter last year. Rexford Industrial Realty updated its FY18 guidance to $1.08-1.10 EPS.

Shares of REXR stock traded down $0.22 on Wednesday, hitting $31.68. The company’s stock had a trading volume of 508,830 shares, compared to its average volume of 474,470. 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 fifty-two week low of $26.32 and a fifty-two week high of $32.91. The company has a market capitalization of $2.81 billion, a PE ratio of 33.00, a price-to-earnings-growth ratio of 3.63 and a beta of 0.67.

In related news, Director Richard S. Ziman sold 102,043 shares of the company’s stock in a transaction dated Friday, August 3rd. The shares were sold at an average price of $31.32, for a total value of $3,195,986.76. Following the transaction, the director now directly owns 64,918 shares in the company, valued at $2,033,231.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 1.80% of the company’s stock.

Several research firms recently commented on REXR. TheStreet downgraded shares of Rexford Industrial Realty from a “b” rating to a “c+” rating in a research note on Wednesday, August 1st. Zacks Investment Research downgraded shares of Rexford Industrial Realty from a “hold” rating to a “sell” rating in a research note on Wednesday, July 18th. 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. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the company’s stock. Rexford Industrial Realty currently has a consensus rating of “Hold” and a consensus target price of $33.00.

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 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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Earnings History for Rexford Industrial Realty (NYSE:REXR)

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