Rexford Industrial Realty (NYSE:REXR) Posts Earnings Results, Misses Estimates By $0.53 EPS

Rexford Industrial Realty (NYSE:REXR) released its quarterly earnings data on Thursday. The real estate investment trust reported $0.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.60 by ($0.53), FiscalAI reports. Rexford Industrial Realty had a negative net margin of 39.22% and a negative return on equity of 4.61%. The company had revenue of $239.10 million during the quarter, compared to analyst estimates of $232.95 million. During the same quarter in the prior year, the company earned $0.60 EPS. The business’s revenue was down 5.6% on a year-over-year basis.

Rexford Industrial Realty Stock Performance

Shares of REXR stock opened at $36.30 on Friday. The company has a current ratio of 1.70, a quick ratio of 1.70 and a debt-to-equity ratio of 0.42. The company has a market capitalization of $8.09 billion, a price-to-earnings ratio of 15.14 and a beta of 1.18. The stock’s fifty day simple moving average is $37.25 and its 200-day simple moving average is $36.09. Rexford Industrial Realty has a 1-year low of $32.14 and a 1-year high of $43.08.

Rexford Industrial Realty Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 15th. Stockholders of record on Thursday, December 31st will be given a $0.4350 dividend. This represents a $1.74 annualized dividend and a dividend yield of 4.8%. The ex-dividend date of this dividend is Thursday, December 31st. Rexford Industrial Realty’s dividend payout ratio (DPR) is -96.13%.

Analyst Upgrades and Downgrades

Several analysts have recently commented on REXR shares. Mizuho raised Rexford Industrial Realty from a “neutral” rating to an “outperform” rating and raised their price target for the company from $38.00 to $41.00 in a report on Tuesday, October 13th. Wells Fargo & Company dropped their price objective on shares of Rexford Industrial Realty from $44.00 to $43.00 and set an “overweight” rating on the stock in a research note on Tuesday, September 1st. Raymond James Financial raised Rexford Industrial Realty from an “underperform” rating to a “market perform” rating in a report on Tuesday, September 15th. Truist Financial upped their price objective on Rexford Industrial Realty from $38.00 to $39.00 and gave the company a “buy” rating in a research note on Monday, October 12th. Finally, Evercore reaffirmed an “outperform” rating on shares of Rexford Industrial Realty in a research report on Monday, July 27th. Seven analysts have rated the stock with a Buy rating, four have assigned a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $40.71.

About Rexford Industrial Realty

Rexford Industrial Realty, Inc (NYSE: REXR) is a publicly traded real estate investment trust focused on owning, operating and acquiring industrial properties. Its portfolio primarily consists of infill logistics, warehouse, distribution and manufacturing facilities that support supply-chain and business operations.

The company concentrates exclusively on Southern California, including the Los Angeles, Orange County, San Diego and Inland Empire industrial markets. Rexford seeks to benefit from the region’s established transportation infrastructure, large consumer base and constrained supply of well-located industrial real estate.

Rexford Industrial Realty became a publicly traded company in 2013.