Rexford Industrial Realty Inc (NYSE:REXR) – Stock analysts at Jefferies Financial Group reduced their Q1 2019 earnings estimates for Rexford Industrial Realty in a research note issued on Wednesday, April 10th, Zacks Investment Research reports. Jefferies Financial Group analyst J. Petersen now expects that the real estate investment trust will post earnings per share of $0.27 for the quarter, down from their previous estimate of $0.28. Jefferies Financial Group also issued estimates for Rexford Industrial Realty’s Q2 2019 earnings at $0.28 EPS and Q1 2021 earnings at $0.35 EPS.
Rexford Industrial Realty (NYSE:REXR) last released its earnings results on Tuesday, April 30th. The real estate investment trust reported $0.08 EPS for the quarter, missing the consensus estimate of $0.28 by ($0.20). Rexford Industrial Realty had a net margin of 18.77% and a return on equity of 2.55%. The firm had revenue of $60.36 million during the quarter, compared to the consensus estimate of $60.05 million. During the same period in the prior year, the business earned $0.27 earnings per share. Rexford Industrial Realty’s quarterly revenue was up 24.4% compared to the same quarter last year.
Shares of Rexford Industrial Realty stock traded up $0.30 during midday trading on Thursday, hitting $38.50. 1,335,636 shares of the company traded hands, compared to its average volume of 676,138. The firm has a market capitalization of $4.01 billion, a PE ratio of 34.38, a price-to-earnings-growth ratio of 4.40 and a beta of 0.87. The company has a current ratio of 8.81, a quick ratio of 8.81 and a debt-to-equity ratio of 0.43. Rexford Industrial Realty has a 12 month low of $28.17 and a 12 month high of $39.21.
The firm also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Friday, June 28th will be issued a dividend of $0.185 per share. This represents a $0.74 dividend on an annualized basis and a yield of 1.92%. The ex-dividend date of this dividend is Thursday, June 27th. Rexford Industrial Realty’s payout ratio is 66.07%.
A number of institutional investors and hedge funds have recently bought and sold shares of REXR. Whittier Trust Co. grew its holdings in Rexford Industrial Realty by 99.2% during the 4th quarter. Whittier Trust Co. now owns 1,243 shares of the real estate investment trust’s stock worth $37,000 after acquiring an additional 619 shares during the last quarter. Quantamental Technologies LLC acquired a new position in shares of Rexford Industrial Realty in the 1st quarter worth approximately $60,000. Quadrant Capital Group LLC acquired a new position in shares of Rexford Industrial Realty in the 1st quarter worth approximately $69,000. Rehmann Capital Advisory Group lifted its position in shares of Rexford Industrial Realty by 3,095.8% in the 3rd quarter. Rehmann Capital Advisory Group now owns 5,305 shares of the real estate investment trust’s stock worth $166,000 after purchasing an additional 5,139 shares during the period. Finally, Nisa Investment Advisors LLC lifted its position in shares of Rexford Industrial Realty by 289.0% in the 1st quarter. Nisa Investment Advisors LLC now owns 5,835 shares of the real estate investment trust’s stock worth $209,000 after purchasing an additional 4,335 shares during the period. 96.97% of the stock is currently owned by hedge funds and other institutional investors.
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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