Analysts forecast that Rexford Industrial Realty Inc (NYSE:REXR) will announce earnings per share of $0.27 for the current fiscal quarter, according to Zacks. Four analysts have made estimates for Rexford Industrial Realty’s earnings, with the highest EPS estimate coming in at $0.28 and the lowest estimate coming in at $0.27. Rexford Industrial Realty also reported earnings per share of $0.27 during the same quarter last year. The company is scheduled to issue its next quarterly earnings report on Tuesday, May 7th.
On average, analysts expect that Rexford Industrial Realty will report full year earnings of $1.18 per share for the current year, with EPS estimates ranging from $1.16 to $1.20. For the next financial year, analysts expect that the business will report earnings of $1.29 per share, with EPS estimates ranging from $1.27 to $1.34. Zacks’ EPS calculations are a mean average based on a survey of sell-side research firms that cover Rexford Industrial Realty.
Rexford Industrial Realty (NYSE:REXR) last issued its earnings results on Tuesday, February 12th. The real estate investment trust reported $0.29 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.27 by $0.02. The company had revenue of $56.13 million for the quarter, compared to analysts’ expectations of $55.81 million. Rexford Industrial Realty had a net margin of 21.82% and a return on equity of 2.98%. Rexford Industrial Realty’s quarterly revenue was up 22.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.26 EPS.
Several research firms have weighed in on REXR. JPMorgan Chase & Co. raised shares of Rexford Industrial Realty from an “underweight” rating to a “neutral” rating in a report on Wednesday, December 19th. Zacks Investment Research raised shares of Rexford Industrial Realty from a “hold” rating to a “buy” rating and set a $33.00 price target on the stock in a report on Friday, December 28th. Finally, Wells Fargo & Co increased their price target on shares of Rexford Industrial Realty from $32.00 to $37.00 and gave the company a “market perform” rating in a report on Thursday, March 14th. They noted that the move was a valuation call. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $36.25.
Several large investors have recently made changes to their positions in REXR. PGGM Investments grew its position in shares of Rexford Industrial Realty by 4,193.6% during the 1st quarter. PGGM Investments now owns 4,303,370 shares of the real estate investment trust’s stock worth $154,104,000 after purchasing an additional 4,203,143 shares in the last quarter. JPMorgan Chase & Co. grew its position in shares of Rexford Industrial Realty by 115.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,617,974 shares of the real estate investment trust’s stock worth $83,671,000 after purchasing an additional 1,400,758 shares in the last quarter. Vanguard Group Inc grew its position in shares of Rexford Industrial Realty by 9.9% during the 3rd quarter. Vanguard Group Inc now owns 12,569,018 shares of the real estate investment trust’s stock worth $401,706,000 after purchasing an additional 1,128,837 shares in the last quarter. Vanguard Group Inc. grew its position in shares of Rexford Industrial Realty by 9.9% during the 3rd quarter. Vanguard Group Inc. now owns 12,569,018 shares of the real estate investment trust’s stock worth $401,706,000 after purchasing an additional 1,128,837 shares in the last quarter. Finally, Norges Bank acquired a new position in shares of Rexford Industrial Realty during the 4th quarter worth approximately $29,836,000. Hedge funds and other institutional investors own 99.76% of the company’s stock.
Rexford Industrial Realty stock opened at $37.06 on Friday. The stock has a market capitalization of $3.63 billion, a price-to-earnings ratio of 33.09, a P/E/G ratio of 4.31 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 twelve month low of $28.17 and a twelve month high of $37.53.
The business also recently declared a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Friday, March 29th were issued a $0.185 dividend. This is a boost from Rexford Industrial Realty’s previous quarterly dividend of $0.16. This represents a $0.74 annualized dividend and a yield of 2.00%. The ex-dividend date of this dividend was Thursday, March 28th. Rexford Industrial Realty’s dividend payout ratio is currently 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 168 properties with approximately 20.6 million rentable square feet and manages an additional 20 properties with approximately 1.2 million rentable square feet.
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