Rexford Industrial Realty (NYSE:REXR) Posts Quarterly Earnings Results, Hits Expectations

Rexford Industrial Realty (NYSE:REXR) posted its earnings results on Thursday. The real estate investment trust reported $0.60 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.60, Briefing.com 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 for the quarter, compared to analyst estimates of $232.95 million. During the same quarter in the prior year, the business posted $0.60 EPS. The firm’s revenue was down 5.6% compared to the same quarter last year.

Rexford Industrial Realty Stock Performance

Shares of REXR stock opened at $36.30 on Friday. The firm has a market cap of $8.09 billion, a price-to-earnings ratio of 15.14 and a beta of 1.18. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.70 and a current ratio of 1.70. Rexford Industrial Realty has a 52 week low of $32.14 and a 52 week high of $43.08. The firm’s 50-day simple moving average is $37.25 and its two-hundred day simple moving average is $36.09.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Citigroup reiterated a “neutral” rating on shares of Rexford Industrial Realty in a research note on Wednesday, July 29th. Scotiabank boosted their target price on Rexford Industrial Realty from $38.00 to $40.00 and gave the stock a “sector outperform” rating in a research note on Monday, August 31st. Weiss Ratings lowered Rexford Industrial Realty from a “sell (d+)” rating to a “sell (d)” rating in a report on Thursday, October 8th. Evercore reaffirmed an “outperform” rating on shares of Rexford Industrial Realty in a research report on Monday, July 27th. Finally, Wall Street Zen upgraded Rexford Industrial Realty from a “strong sell” rating to a “sell” rating in a report on Saturday, September 19th. Seven investment analysts have rated the stock with a Buy rating, four have given a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, Rexford Industrial Realty currently has an average rating of “Hold” and a consensus target price 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.