Rexford Industrial Realty Inc (NASDAQ:REXR) – Investment analysts at Jefferies Group reduced their FY2017 earnings per share (EPS) estimates for Rexford Industrial Realty in a report released on Monday. Jefferies Group analyst J. Petersen now anticipates that the company will earn $0.97 per share for the year, down from their previous forecast of $0.98. Jefferies Group currently has a “Buy” rating and a $34.00 target price on the stock. Jefferies Group also issued estimates for Rexford Industrial Realty’s FY2018 earnings at $1.11 EPS.

Rexford Industrial Realty (NASDAQ:REXR) last released its quarterly earnings data on Tuesday, August 1st. The company reported $0.23 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.23. The company had revenue of $36.78 million during the quarter, compared to analysts’ expectations of $36.75 million. Rexford Industrial Realty had a net margin of 53.98% and a return on equity of 7.84%. The firm’s quarterly revenue was up 20.2% on a year-over-year basis. During the same period in the previous year, the company earned $0.22 EPS.

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Several other research analysts have also commented on the stock. Citigroup Inc. raised their price objective on shares of Rexford Industrial Realty from $28.50 to $30.00 and gave the company a “neutral” rating in a research note on Tuesday. BidaskClub raised shares of Rexford Industrial Realty from a “hold” rating to a “buy” rating in a research note on Tuesday, October 10th. Zacks Investment Research raised shares of Rexford Industrial Realty from a “hold” rating to a “buy” rating and set a $33.00 price objective for the company in a research note on Wednesday, October 4th. J P Morgan Chase & Co lowered shares of Rexford Industrial Realty from an “overweight” rating to a “neutral” rating and set a $29.00 price objective for the company. in a research note on Tuesday, September 26th. Finally, Stifel Nicolaus reissued a “buy” rating and issued a $33.00 price objective (up previously from $30.00) on shares of Rexford Industrial Realty in a research note on Thursday, September 14th. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $30.56.

Shares of Rexford Industrial Realty (NASDAQ:REXR) opened at 30.26 on Wednesday. The company has a market cap of $2.14 billion and a price-to-earnings ratio of 64.80. Rexford Industrial Realty has a 12-month low of $20.05 and a 12-month high of $30.66. The stock has a 50 day moving average of $29.69 and a 200 day moving average of $27.44.

A number of institutional investors and hedge funds have recently made changes to their positions in REXR. BlackRock Inc. lifted its stake in Rexford Industrial Realty by 1,607.5% during the first quarter. BlackRock Inc. now owns 5,832,562 shares of the company’s stock worth $131,347,000 after purchasing an additional 5,490,976 shares during the last quarter. Vanguard Group Inc. lifted its stake in Rexford Industrial Realty by 16.2% during the second quarter. Vanguard Group Inc. now owns 9,200,033 shares of the company’s stock worth $252,449,000 after purchasing an additional 1,282,548 shares during the last quarter. Renaissance Technologies LLC lifted its stake in Rexford Industrial Realty by 191.9% during the second quarter. Renaissance Technologies LLC now owns 673,300 shares of the company’s stock worth $18,475,000 after purchasing an additional 442,600 shares during the last quarter. Russell Investments Group Ltd. lifted its stake in Rexford Industrial Realty by 40.2% during the second quarter. Russell Investments Group Ltd. now owns 1,442,941 shares of the company’s stock worth $39,568,000 after purchasing an additional 413,653 shares during the last quarter. Finally, Marshall Wace North America L.P. bought a new position in Rexford Industrial Realty during the second quarter worth $8,704,000.

The firm also recently announced a quarterly dividend, which was paid on Monday, October 16th. Stockholders of record on Friday, September 29th were paid a dividend of $0.145 per share. This represents a $0.58 annualized dividend and a dividend yield of 1.92%. The ex-dividend date was Thursday, September 28th.

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.

Earnings History and Estimates for Rexford Industrial Realty (NASDAQ:REXR)

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