Zacks: Brokerages Anticipate Rexford Industrial Realty Inc (REXR) to Post $0.25 Earnings Per Share
Analysts expect that Rexford Industrial Realty Inc (NYSE:REXR) will post earnings per share of $0.25 for the current fiscal quarter, Zacks reports. Five analysts have provided estimates for Rexford Industrial Realty’s earnings, with estimates ranging from $0.24 to $0.26. Rexford Industrial Realty posted earnings of $0.23 per share in the same quarter last year, which would indicate a positive year-over-year growth rate of 8.7%. The company is expected to announce its next earnings report on Thursday, February 15th.
According to Zacks, analysts expect that Rexford Industrial Realty will report full year earnings of $0.96 per share for the current fiscal year, with EPS estimates ranging from $0.94 to $0.97. For the next fiscal year, analysts anticipate that the company will post earnings of $1.08 per share, with EPS estimates ranging from $1.04 to $1.14. Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side research firms that cover Rexford Industrial Realty.
Rexford Industrial Realty (NYSE:REXR) last released its quarterly earnings data on Tuesday, October 31st. The real estate investment trust reported $0.25 earnings per share for the quarter, topping the consensus estimate of $0.24 by $0.01. Rexford Industrial Realty had a return on equity of 3.39% and a net margin of 23.50%. The business had revenue of $43.30 million during the quarter, compared to analysts’ expectations of $41.77 million. During the same quarter last year, the business posted $0.22 EPS. The business’s revenue was up 30.0% on a year-over-year basis.
Several research firms have weighed in on REXR. Zacks Investment Research upgraded Rexford Industrial Realty from a “hold” rating to a “buy” rating and set a $33.00 price objective for the company in a report on Thursday, January 4th. JPMorgan Chase & Co. cut Rexford Industrial Realty from a “neutral” rating to an “underweight” rating and set a $29.00 price objective for the company. in a report on Friday, December 15th. National Securities reiterated a “buy” rating and issued a $34.00 price objective on shares of Rexford Industrial Realty in a report on Monday, November 27th. B. Riley reiterated a “neutral” rating on shares of Rexford Industrial Realty in a report on Tuesday, November 7th. Finally, BidaskClub upgraded Rexford Industrial Realty from a “hold” rating to a “buy” rating in a research note on Saturday, November 4th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the company. Rexford Industrial Realty currently has a consensus rating of “Buy” and a consensus price target of $30.78.
Shares of Rexford Industrial Realty (NYSE REXR) opened at $29.07 on Tuesday. Rexford Industrial Realty has a fifty-two week low of $21.34 and a fifty-two week high of $31.71. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.72 and a quick ratio of 0.72. The firm has a market capitalization of $2,235.70, a P/E ratio of 67.61, a price-to-earnings-growth ratio of 3.45 and a beta of 0.77.
The company also recently announced a quarterly dividend, which will be paid on Monday, January 15th. Stockholders of record on Friday, December 29th will be paid a $0.145 dividend. This represents a $0.58 dividend on an annualized basis and a dividend yield of 2.00%. The ex-dividend date is Thursday, December 28th. Rexford Industrial Realty’s payout ratio is presently 134.89%.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Los Angeles Capital Management & Equity Research Inc. purchased a new position in shares of Rexford Industrial Realty in the 3rd quarter valued at approximately $1,105,000. Honeywell International Inc. lifted its stake in shares of Rexford Industrial Realty by 7.5% in the 3rd quarter. Honeywell International Inc. now owns 53,579 shares of the real estate investment trust’s stock valued at $1,533,000 after purchasing an additional 3,739 shares during the period. UBS Asset Management Americas Inc. lifted its stake in shares of Rexford Industrial Realty by 7.8% in the 2nd quarter. UBS Asset Management Americas Inc. now owns 126,770 shares of the real estate investment trust’s stock valued at $3,479,000 after purchasing an additional 9,221 shares during the period. OxFORD Asset Management LLP purchased a new position in shares of Rexford Industrial Realty in the 3rd quarter valued at approximately $931,000. Finally, BlackRock Inc. lifted its stake in shares of Rexford Industrial Realty by 0.6% in the 2nd quarter. BlackRock Inc. now owns 5,869,600 shares of the real estate investment trust’s stock valued at $161,061,000 after purchasing an additional 37,038 shares during the period. Institutional investors own 99.85% of the company’s stock.
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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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