Rexford Industrial Realty Inc (NYSE:REXR) Expected to Announce Earnings of $0.31 Per Share
Brokerages expect that Rexford Industrial Realty Inc (NYSE:REXR) will report earnings of $0.31 per share for the current quarter, Zacks Investment Research reports. Three analysts have issued estimates for Rexford Industrial Realty’s earnings, with estimates ranging from $0.30 to $0.33. Rexford Industrial Realty posted earnings of $0.29 per share in the same quarter last year, which would indicate a positive year-over-year growth rate of 6.9%. The firm is scheduled to issue its next quarterly earnings results on Tuesday, February 11th.
On average, analysts expect that Rexford Industrial Realty will report full year earnings of $1.22 per share for the current year, with EPS estimates ranging from $1.21 to $1.23. For the next year, analysts anticipate that the company will post earnings of $1.34 per share, with EPS estimates ranging from $1.30 to $1.37. Zacks Investment Research’s EPS averages are an average based on a survey of sell-side research firms that follow Rexford Industrial Realty.
Rexford Industrial Realty (NYSE:REXR) last issued its quarterly earnings results on Tuesday, October 29th. The real estate investment trust reported $0.31 EPS for the quarter, topping analysts’ consensus estimates of $0.30 by $0.01. Rexford Industrial Realty had a return on equity of 2.61% and a net margin of 21.32%. The firm had revenue of $68.06 million for the quarter, compared to analysts’ expectations of $67.50 million. During the same period in the previous year, the firm posted $0.28 EPS. The business’s revenue for the quarter was up 23.3% compared to the same quarter last year.
Shares of REXR traded up $0.55 during mid-day trading on Friday, reaching $47.75. The company had a trading volume of 617,603 shares, compared to its average volume of 448,094. The company has a debt-to-equity ratio of 0.38, a quick ratio of 5.82 and a current ratio of 5.82. The firm has a 50-day moving average price of $46.01 and a 200 day moving average price of $44.59. Rexford Industrial Realty has a 52 week low of $31.57 and a 52 week high of $48.80. The company has a market capitalization of $5.24 billion, a price-to-earnings ratio of 39.33, a price-to-earnings-growth ratio of 4.98 and a beta of 0.75.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were given a $0.185 dividend. The ex-dividend date of this dividend was Monday, December 30th. This represents a $0.74 annualized dividend and a yield of 1.55%. Rexford Industrial Realty’s dividend payout ratio (DPR) is presently 66.07%.
In related news, CEO Michael S. Frankel sold 35,463 shares of the company’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $47.97, for a total value of $1,701,160.11. Following the transaction, the chief executive officer now directly owns 71,834 shares of the company’s stock, valued at approximately $3,445,876.98. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Adeel Khan sold 49,721 shares of the company’s stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $46.01, for a total value of $2,287,663.21. The disclosure for this sale can be found here. Insiders sold a total of 97,720 shares of company stock worth $4,583,782 over the last ninety days. 1.70% of the stock is currently owned by insiders.
A number of hedge funds have recently added to or reduced their stakes in REXR. Point72 Asset Management L.P. bought a new position in Rexford Industrial Realty in the 2nd quarter valued at approximately $36,000. New York State Teachers Retirement System bought a new position in Rexford Industrial Realty in the 3rd quarter valued at approximately $40,000. NEXT Financial Group Inc lifted its position in Rexford Industrial Realty by 55.4% in the 3rd quarter. NEXT Financial Group Inc now owns 3,859 shares of the real estate investment trust’s stock valued at $170,000 after acquiring an additional 1,376 shares in the last quarter. Ninepoint Partners LP bought a new position in Rexford Industrial Realty in the 3rd quarter valued at approximately $177,000. Finally, Assetmark Inc. lifted its position in Rexford Industrial Realty by 9.2% in the 2nd quarter. Assetmark Inc. now owns 4,909 shares of the real estate investment trust’s stock valued at $198,000 after acquiring an additional 415 shares in the last quarter. 97.02% of the stock is currently owned by institutional investors and hedge funds.
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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