Rexford Industrial Realty (NYSE:REXR) Issues Quarterly Earnings Results

Rexford Industrial Realty (NYSE:REXR) announced its quarterly earnings data on Thursday. The real estate investment trust reported $0.27 earnings per share for the quarter, missing the consensus estimate of $0.57 by ($0.30), Yahoo Finance reports. The firm had revenue of $214.10 million for the quarter, compared to the consensus estimate of $207.39 million. Rexford Industrial Realty had a return on equity of 3.04% and a net margin of 28.84%. The business’s revenue for the quarter was up 15.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.52 earnings per share.

Rexford Industrial Realty Trading Down 1.0 %

NYSE:REXR opened at $42.74 on Friday. Rexford Industrial Realty has a twelve month low of $41.56 and a twelve month high of $58.02. The company has a quick ratio of 1.35, a current ratio of 3.21 and a debt-to-equity ratio of 0.41. The business has a 50 day moving average price of $50.22 and a two-hundred day moving average price of $50.59. The company has a market cap of $9.31 billion, a P/E ratio of 39.21, a price-to-earnings-growth ratio of 1.91 and a beta of 0.86.

Rexford Industrial Realty Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Friday, June 28th will be given a dividend of $0.417 per share. This represents a $1.67 dividend on an annualized basis and a yield of 3.90%. The ex-dividend date is Friday, June 28th. Rexford Industrial Realty’s dividend payout ratio (DPR) is currently 153.21%.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. JPMorgan Chase & Co. cut Rexford Industrial Realty from an “overweight” rating to a “neutral” rating and set a $55.00 price target for the company. in a research note on Wednesday, February 7th. Barclays assumed coverage on Rexford Industrial Realty in a research note on Wednesday, March 27th. They issued an “underweight” rating and a $45.00 price target for the company. Robert W. Baird reaffirmed a “neutral” rating and issued a $61.00 price target (up from $53.00) on shares of Rexford Industrial Realty in a research note on Friday, January 5th. TheStreet upgraded Rexford Industrial Realty from a “c+” rating to a “b-” rating in a research report on Thursday, February 1st. Finally, Truist Financial decreased their price objective on Rexford Industrial Realty from $57.00 to $53.00 and set a “buy” rating for the company in a research report on Tuesday. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, Rexford Industrial Realty has a consensus rating of “Hold” and a consensus target price of $55.60.

Insiders Place Their Bets

In other news, General Counsel David E. Lanzer sold 18,113 shares of the stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $52.69, for a total value of $954,373.97. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.10% of the company’s stock.

Institutional Investors Weigh In On Rexford Industrial Realty

Large investors have recently made changes to their positions in the stock. Money Concepts Capital Corp acquired a new stake in shares of Rexford Industrial Realty in the 4th quarter valued at approximately $246,000. Vident Investment Advisory LLC raised its stake in Rexford Industrial Realty by 26.0% in the 1st quarter. Vident Investment Advisory LLC now owns 3,247 shares of the real estate investment trust’s stock valued at $242,000 after acquiring an additional 669 shares during the period. IFP Advisors Inc raised its stake in Rexford Industrial Realty by 7.0% in the 2nd quarter. IFP Advisors Inc now owns 4,458 shares of the real estate investment trust’s stock valued at $233,000 after acquiring an additional 290 shares during the period. Wexford Capital LP bought a new stake in Rexford Industrial Realty in the 4th quarter valued at $223,000. Finally, Delphia USA Inc. bought a new stake in Rexford Industrial Realty in the 4th quarter valued at $215,000. Institutional investors and hedge funds own 99.52% of the company’s stock.

Rexford Industrial Realty Company Profile

Rexford Industrial creates value by investing in, operating and redeveloping industrial properties throughout infill Southern California, the world's fourth largest industrial market and consistently the highest-demand with lowest-supply major market in the nation. The Company's highly differentiated strategy enables internal and external growth opportunities through its proprietary value creation and asset management capabilities.