Zacks: Brokerages Anticipate Rexford Industrial Realty Inc (NYSE:REXR) Will Post Earnings of $0.31 Per Share

Equities research analysts expect Rexford Industrial Realty Inc (NYSE:REXR) to report $0.31 earnings per share (EPS) for the current quarter, according to Zacks Investment Research. Three analysts have made estimates for Rexford Industrial Realty’s earnings. The lowest EPS estimate is $0.30 and the highest is $0.32. Rexford Industrial Realty posted earnings of $0.29 per share during the same quarter last year, which would indicate a positive year-over-year growth rate of 6.9%. The firm is scheduled to report its next earnings report 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 financial year, with EPS estimates ranging from $1.21 to $1.23. For the next year, analysts expect that the business will report earnings of $1.34 per share, with EPS estimates ranging from $1.30 to $1.38. Zacks Investment Research’s EPS averages are an average based on a survey of research firms that that provide coverage for Rexford Industrial Realty.

Rexford Industrial Realty (NYSE:REXR) last announced its quarterly earnings results on Tuesday, October 29th. The real estate investment trust reported $0.31 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.30 by $0.01. The firm had revenue of $68.06 million during the quarter, compared to the consensus estimate of $67.50 million. Rexford Industrial Realty had a net margin of 21.32% and a return on equity of 2.61%. The business’s quarterly revenue was up 23.3% compared to the same quarter last year. During the same period last year, the firm earned $0.28 EPS.

REXR has been the topic of a number of recent analyst reports. Citigroup increased their price objective on Rexford Industrial Realty from $42.00 to $47.00 and gave the stock a “neutral” rating in a research report on Monday, September 23rd. ValuEngine cut Rexford Industrial Realty from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. Zacks Investment Research upgraded Rexford Industrial Realty from a “hold” rating to a “buy” rating and set a $51.00 target price on the stock in a research note on Wednesday, January 8th. Finally, JPMorgan Chase & Co. raised their price target on Rexford Industrial Realty from $43.00 to $47.00 and gave the company a “neutral” rating in a report on Tuesday, December 3rd. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $45.60.

In other news, CEO Michael S. Frankel sold 12,536 shares of Rexford Industrial Realty stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $47.46, for a total transaction of $594,958.56. Following the completion of the sale, the chief executive officer now owns 71,834 shares in the company, valued at approximately $3,409,241.64. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Adeel Khan sold 49,721 shares of Rexford Industrial Realty stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $46.01, for a total value of $2,287,663.21. The disclosure for this sale can be found here. In the last quarter, insiders have sold 97,720 shares of company stock valued at $4,583,782. Corporate insiders own 1.70% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Artemis Investment Management LLP raised its holdings in shares of Rexford Industrial Realty by 0.9% during the 4th quarter. Artemis Investment Management LLP now owns 264,748 shares of the real estate investment trust’s stock valued at $11,806,000 after buying an additional 2,310 shares in the last quarter. State of Alaska Department of Revenue raised its holdings in shares of Rexford Industrial Realty by 248.1% during the 4th quarter. State of Alaska Department of Revenue now owns 31,386 shares of the real estate investment trust’s stock valued at $1,433,000 after buying an additional 22,370 shares in the last quarter. Evoke Wealth LLC purchased a new position in shares of Rexford Industrial Realty during the 3rd quarter valued at about $1,042,000. Metropolitan Life Insurance Co NY raised its holdings in shares of Rexford Industrial Realty by 15.3% during the 3rd quarter. Metropolitan Life Insurance Co NY now owns 39,675 shares of the real estate investment trust’s stock valued at $1,746,000 after buying an additional 5,257 shares in the last quarter. Finally, Voloridge Investment Management LLC purchased a new position in shares of Rexford Industrial Realty during the 3rd quarter valued at about $292,000. 97.02% of the stock is currently owned by institutional investors.

Rexford Industrial Realty stock opened at $46.23 on Friday. The stock has a market cap of $5.18 billion, a P/E ratio of 41.28, a PEG ratio of 4.85 and a beta of 0.75. Rexford Industrial Realty has a fifty-two week low of $30.94 and a fifty-two week high of $48.80. The firm’s fifty day moving average price is $46.03 and its 200-day moving average price is $44.49. The company has a debt-to-equity ratio of 0.38, a quick ratio of 5.82 and a current ratio of 5.82.

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

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 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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