Rexford Industrial Realty (NYSE:REXR) posted its quarterly earnings data on Tuesday. The real estate investment trust reported $0.15 earnings per share for the quarter, topping the consensus estimate of $0.09 by $0.06, MarketWatch Earnings reports. Rexford Industrial Realty had a return on equity of 2.96% and a net margin of 25.70%. The business had revenue of $104.24 million during the quarter, compared to analysts’ expectations of $103.03 million. During the same quarter in the previous year, the firm earned $0.32 EPS. The firm’s revenue was up 30.7% compared to the same quarter last year.
Shares of REXR stock traded down $0.39 during trading hours on Thursday, reaching $60.14. The company had a trading volume of 41,140 shares, compared to its average volume of 800,087. The firm’s 50 day simple moving average is $57.31. The company has a debt-to-equity ratio of 0.36, a quick ratio of 3.15 and a current ratio of 3.15. The firm has a market capitalization of $8.06 billion, a price-to-earnings ratio of 100.88, a price-to-earnings-growth ratio of 4.64 and a beta of 0.62. Rexford Industrial Realty has a 1-year low of $39.33 and a 1-year high of $60.91.
Several equities analysts have commented on REXR shares. Zacks Investment Research cut Rexford Industrial Realty from a “buy” rating to a “hold” rating in a report on Tuesday, July 13th. Capital One Financial upgraded Rexford Industrial Realty from an “equal weight” rating to an “overweight” rating and set a $66.00 price objective on the stock in a research note on Monday. Wells Fargo & Company upped their price objective on Rexford Industrial Realty from $51.00 to $58.00 and gave the company an “equal weight” rating in a research note on Monday, June 7th. Finally, TheStreet upgraded Rexford Industrial Realty from a “c+” rating to a “b-” rating in a research report on Friday, March 26th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $59.00.
Rexford Industrial Realty Company Profile
Rexford Industrial, a real estate investment trust focused on owning and operating industrial properties throughout Southern California infill markets, owns 232 properties with approximately 27.9 million rentable square feet and manages an additional 20 properties with approximately 1.0 million rentable square feet.
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