Equities analysts expect that Rexford Industrial Realty Inc (NYSE:REXR) will report earnings per share of $0.29 for the current quarter, Zacks reports. Five analysts have made estimates for Rexford Industrial Realty’s earnings. The highest EPS estimate is $0.29 and the lowest is $0.28. Rexford Industrial Realty posted earnings of $0.27 per share during the same quarter last year, which indicates a positive year-over-year growth rate of 7.4%. The firm is expected to report its next quarterly earnings results after the market closes on Tuesday, July 30th.
According to Zacks, analysts expect that Rexford Industrial Realty will report full year earnings of $1.20 per share for the current financial year, with EPS estimates ranging from $1.19 to $1.22. For the next year, analysts anticipate that the firm will report earnings of $1.31 per share, with EPS estimates ranging from $1.25 to $1.39. Zacks’ earnings per share averages are an average based on a survey of sell-side research analysts that cover Rexford Industrial Realty.
Rexford Industrial Realty (NYSE:REXR) last posted its quarterly earnings results on Tuesday, April 30th. The real estate investment trust reported $0.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.20). Rexford Industrial Realty had a return on equity of 2.43% and a net margin of 18.77%. The company had revenue of $60.36 million during the quarter, compared to analysts’ expectations of $60.05 million. During the same period last year, the company earned $0.27 earnings per share. Rexford Industrial Realty’s revenue for the quarter was up 24.4% compared to the same quarter last year.
Shares of REXR traded down $1.12 during mid-day trading on Friday, hitting $41.14. The company’s stock had a trading volume of 525,325 shares, compared to its average volume of 786,926. The firm has a market capitalization of $4.28 billion, a price-to-earnings ratio of 36.73, a PEG ratio of 4.48 and a beta of 0.84. Rexford Industrial Realty has a one year low of $28.17 and a one year high of $42.38. The business has a 50-day moving average of $40.44. The company has a debt-to-equity ratio of 0.38, a current ratio of 8.34 and a quick ratio of 8.34.
The company also recently announced a quarterly dividend, which was paid on Monday, July 15th. Shareholders of record on Friday, June 28th were paid a $0.185 dividend. This represents a $0.74 annualized dividend and a yield of 1.80%. The ex-dividend date of this dividend was Thursday, June 27th. Rexford Industrial Realty’s payout ratio is 66.07%.
In other Rexford Industrial Realty news, General Counsel David E. Lanzer sold 5,085 shares of the company’s stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $38.19, for a total value of $194,196.15. Following the transaction, the general counsel now directly owns 5,718 shares of the company’s stock, valued at approximately $218,370.42. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Adeel Khan sold 40,000 shares of the company’s stock in a transaction on Thursday, May 23rd. The shares were sold at an average price of $38.00, for a total value of $1,520,000.00. Following the sale, the chief financial officer now owns 40,000 shares of the company’s stock, valued at $1,520,000. The disclosure for this sale can be found here. Insiders own 1.70% of the company’s stock.
Several hedge funds have recently made changes to their positions in REXR. Quantamental Technologies LLC bought a new position in Rexford Industrial Realty in the first quarter valued at about $60,000. Quadrant Capital Group LLC acquired a new stake in shares of Rexford Industrial Realty in the first quarter valued at about $69,000. NEXT Financial Group Inc grew its stake in Rexford Industrial Realty by 58.3% during the second quarter. NEXT Financial Group Inc now owns 2,483 shares of the real estate investment trust’s stock worth $100,000 after purchasing an additional 914 shares during the period. Nisa Investment Advisors LLC grew its stake in Rexford Industrial Realty by 289.0% during the first quarter. Nisa Investment Advisors LLC now owns 5,835 shares of the real estate investment trust’s stock worth $209,000 after purchasing an additional 4,335 shares during the period. Finally, Stevens Capital Management LP acquired a new stake in Rexford Industrial Realty during the first quarter worth approximately $211,000. Institutional investors and hedge funds own 98.19% of the company’s stock.
Rexford Industrial Realty Company Profile
Rexford Industrial is a real estate investment trust focused on owning and operating industrial properties in Southern California infill markets. The Company owns 179 properties with approximately 22.1 million rentable square feet and manages an additional 20 properties with approximately 1.2 million rentable square feet.
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