Equities research analysts predict that Rexford Industrial Realty Inc (NYSE:REXR) will announce earnings per share (EPS) of $0.29 for the current fiscal quarter, Zacks reports. Five analysts have issued estimates for Rexford Industrial Realty’s earnings, with estimates ranging from $0.28 to $0.29. Rexford Industrial Realty posted earnings of $0.27 per share during the same quarter last year, which indicates a positive year-over-year growth rate of 7.4%. The firm is expected to report its next earnings report after the market closes on Tuesday, July 30th.
On average, analysts expect that Rexford Industrial Realty will report full year earnings of $1.20 per share for the current year, with EPS estimates ranging from $1.19 to $1.22. For the next year, analysts anticipate that the company will report earnings of $1.31 per share, with EPS estimates ranging from $1.25 to $1.39. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of research analysts that follow Rexford Industrial Realty.
Rexford Industrial Realty (NYSE:REXR) last posted its earnings results on Tuesday, April 30th. The real estate investment trust reported $0.08 earnings per share for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.20). The business had revenue of $60.36 million for the quarter, compared to analyst estimates of $60.05 million. Rexford Industrial Realty had a return on equity of 2.43% and a net margin of 18.77%. The firm’s revenue was up 24.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.27 earnings per share.
In other Rexford Industrial Realty news, CFO Adeel Khan sold 40,000 shares of the company’s stock in a transaction on Thursday, May 23rd. The stock was sold at an average price of $38.00, for a total value of $1,520,000.00. Following the transaction, the chief financial officer now directly owns 40,000 shares of the company’s stock, valued at approximately $1,520,000. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, General Counsel David E. Lanzer sold 5,085 shares of the company’s stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $38.19, for a total value of $194,196.15. Following the completion of the transaction, the general counsel now directly owns 5,718 shares in the company, valued at $218,370.42. The disclosure for this sale can be found here. Corporate insiders own 1.70% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the business. Quantamental Technologies LLC acquired a new position in Rexford Industrial Realty in the 1st quarter valued at $60,000. Quadrant Capital Group LLC acquired a new position in Rexford Industrial Realty in the 1st quarter valued at $69,000. NEXT Financial Group Inc grew its holdings in Rexford Industrial Realty by 58.3% in the 2nd quarter. NEXT Financial Group Inc now owns 2,483 shares of the real estate investment trust’s stock valued at $100,000 after buying an additional 914 shares in the last quarter. Nisa Investment Advisors LLC grew its holdings in 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 valued at $209,000 after buying an additional 4,335 shares in the last quarter. Finally, Stevens Capital Management LP acquired a new position in Rexford Industrial Realty in the 1st quarter valued at $211,000. 98.19% of the stock is currently owned by hedge funds and other institutional investors.
Shares of REXR stock traded down $1.12 during trading on Friday, reaching $41.14. 525,325 shares of the company’s stock were exchanged, compared to its average volume of 786,926. The company has a debt-to-equity ratio of 0.38, a current ratio of 8.34 and a quick ratio of 8.34. The stock has a market capitalization of $4.28 billion, a PE ratio of 36.73, a PEG ratio of 4.48 and a beta of 0.84. Rexford Industrial Realty has a twelve month low of $28.17 and a twelve month high of $42.38. The business has a fifty day moving average price of $40.44.
The firm also recently announced a quarterly dividend, which was paid on Monday, July 15th. Investors of record on Friday, June 28th were issued a dividend of $0.185 per share. This represents a $0.74 dividend on an annualized basis and a dividend yield of 1.80%. The ex-dividend date was Thursday, June 27th. Rexford Industrial Realty’s payout ratio is presently 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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Rexford Industrial Realty Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Rexford Industrial Realty and related companies with MarketBeat.com's FREE daily email newsletter.