Rexford Industrial Realty, Inc. Forecasted to Post Q2 2024 Earnings of $0.57 Per Share (NYSE:REXR)

Rexford Industrial Realty, Inc. (NYSE:REXR) – Stock analysts at Wedbush issued their Q2 2024 EPS estimates for Rexford Industrial Realty in a research note issued on Monday, April 22nd. Wedbush analyst R. Anderson anticipates that the real estate investment trust will post earnings per share of $0.57 for the quarter. Wedbush currently has a “Neutral” rating and a $45.00 target price on the stock. The consensus estimate for Rexford Industrial Realty’s current full-year earnings is $2.33 per share. Wedbush also issued estimates for Rexford Industrial Realty’s Q3 2024 earnings at $0.58 EPS, Q4 2024 earnings at $0.59 EPS, FY2024 earnings at $2.32 EPS, Q1 2025 earnings at $0.61 EPS, Q2 2025 earnings at $0.63 EPS, Q3 2025 earnings at $0.64 EPS, Q4 2025 earnings at $0.65 EPS and FY2025 earnings at $2.54 EPS.

A number of other research analysts have also weighed in on the stock. Mizuho reissued a “neutral” rating and issued a $52.00 target price on shares of Rexford Industrial Realty in a report on Tuesday, April 2nd. Truist Financial cut their target price on shares of Rexford Industrial Realty from $57.00 to $53.00 and set a “buy” rating for the company in a report on Tuesday, April 16th. JPMorgan Chase & Co. lowered shares of Rexford Industrial Realty from an “overweight” rating to a “neutral” rating and set a $55.00 target price for the company. in a report on Wednesday, February 7th. Robert W. Baird reissued a “neutral” rating and issued a $61.00 target price (up from $53.00) on shares of Rexford Industrial Realty in a report on Friday, January 5th. Finally, TheStreet raised shares of Rexford Industrial Realty from a “c+” rating to a “b-” rating in a report on Thursday, February 1st. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, Rexford Industrial Realty presently has a consensus rating of “Hold” and a consensus target price of $54.73.

Rexford Industrial Realty Trading Up 1.7 %

Rexford Industrial Realty stock opened at $43.73 on Wednesday. The firm’s 50 day moving average price is $49.88 and its 200-day moving average price is $50.57. Rexford Industrial Realty has a 1 year low of $41.56 and a 1 year high of $58.02. The company has a debt-to-equity ratio of 0.41, a current ratio of 3.21 and a quick ratio of 1.35. The stock has a market cap of $9.53 billion, a P/E ratio of 40.12, a PEG ratio of 1.90 and a beta of 0.86.

Rexford Industrial Realty (NYSE:REXR) last released its quarterly earnings data on Thursday, April 18th. The real estate investment trust reported $0.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.57 by ($0.30). The company had revenue of $214.10 million for the quarter, compared to the consensus estimate of $207.39 million. Rexford Industrial Realty had a net margin of 28.84% and a return on equity of 3.04%. The company’s quarterly revenue was up 15.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.52 EPS.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. GAMMA Investing LLC purchased a new stake in Rexford Industrial Realty in the fourth quarter worth about $41,000. Fifth Third Bancorp lifted its stake in Rexford Industrial Realty by 58.2% in the third quarter. Fifth Third Bancorp now owns 1,117 shares of the real estate investment trust’s stock worth $55,000 after acquiring an additional 411 shares during the period. Quarry LP lifted its stake in Rexford Industrial Realty by 195.8% in the fourth quarter. Quarry LP now owns 1,118 shares of the real estate investment trust’s stock worth $63,000 after acquiring an additional 740 shares during the period. Principal Securities Inc. purchased a new stake in shares of Rexford Industrial Realty during the fourth quarter valued at about $96,000. Finally, Ninepoint Partners LP purchased a new stake in shares of Rexford Industrial Realty during the third quarter valued at about $108,000. 99.52% of the stock is currently owned by institutional investors.

Insider Transactions at Rexford Industrial Realty

In other news, General Counsel David E. Lanzer sold 18,113 shares of the company’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $52.69, for a total value of $954,373.97. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 1.10% of the company’s stock.

Rexford Industrial Realty Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Friday, June 28th will be paid a dividend of $0.417 per share. This represents a $1.67 dividend on an annualized basis and a dividend yield of 3.81%. The ex-dividend date is Friday, June 28th. Rexford Industrial Realty’s dividend payout ratio is currently 153.21%.

About Rexford Industrial Realty

Rexford Industrial creates value by investing in, operating and redeveloping industrial properties throughout infill Southern California, the world's fourth largest industrial market and consistently the highest-demand with lowest-supply major market in the nation. The Company's highly differentiated strategy enables internal and external growth opportunities through its proprietary value creation and asset management capabilities.