Rexford Industrial Realty Inc (NASDAQ:REXR) posted its earnings results on Tuesday. The company reported $0.25 EPS for the quarter, topping the consensus estimate of $0.24 by $0.01, Bloomberg Earnings reports. Rexford Industrial Realty had a net margin of 53.98% and a return on equity of 7.84%. The business had revenue of $43.30 million for the quarter, compared to the consensus estimate of $41.77 million. During the same period last year, the company earned $0.22 EPS. The firm’s revenue was up 30.0% compared to the same quarter last year. Rexford Industrial Realty updated its FY17 guidance to 0.94-0.96 EPS.
The company also recently declared a quarterly dividend, which will be paid on Monday, January 15th. Shareholders of record on Friday, December 29th will be issued a dividend of $0.145 per share. The ex-dividend date is Thursday, December 28th. This represents a $0.58 annualized dividend and a yield of 1.95%.
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Several equities research analysts recently commented on REXR shares. Jefferies Group LLC reiterated a “buy” rating and set a $32.00 target price on shares of Rexford Industrial Realty in a research report on Tuesday, July 25th. Stifel Nicolaus reiterated a “buy” rating and set a $30.00 target price on shares of Rexford Industrial Realty in a research report on Friday, July 14th. DA Davidson reiterated a “buy” rating and set a $33.00 target price (up from $30.00) on shares of Rexford Industrial Realty in a research report on Thursday, July 13th. National Securities upgraded shares of Rexford Industrial Realty from a “hold” rating to a “buy” rating and lifted their target price for the stock from $23.00 to $32.00 in a research report on Tuesday, August 29th. Finally, Zacks Investment Research upgraded shares of Rexford Industrial Realty from a “hold” rating to a “buy” rating and set a $32.00 price target for the company in a report on Tuesday, August 22nd. Five analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $30.56.
About Rexford Industrial Realty
Rexford Industrial Realty, Inc is a self-administered and self-managed full-service real estate investment trust (REIT). The Company is focused on owning, operating and acquiring industrial properties in Southern California infill markets. Rexford Industrial Realty, L.P. is the operating partnership of the Company.
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