Rexford Industrial Realty, Inc. (NYSE:REXR) – Investment analysts at Capital One Financial increased their Q3 2021 earnings estimates for shares of Rexford Industrial Realty in a research note issued to investors on Thursday, September 23rd. Capital One Financial analyst C. Lucas now anticipates that the real estate investment trust will post earnings per share of $0.40 for the quarter, up from their previous forecast of $0.38. Capital One Financial currently has a “Overweight” rating and a $66.00 target price on the stock. Capital One Financial also issued estimates for Rexford Industrial Realty’s FY2021 earnings at $1.56 EPS.
Other analysts also recently issued research reports about the company. Wells Fargo & Company upped their price target on Rexford Industrial Realty from $58.00 to $65.00 and gave the stock an “equal weight” rating in a research note on Tuesday, August 10th. Zacks Investment Research upgraded Rexford Industrial Realty from a “hold” rating to a “buy” rating and set a $67.00 price target for the company in a research note on Friday. One research analyst has rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $63.50.
Rexford Industrial Realty (NYSE:REXR) last issued its earnings results on Tuesday, July 20th. The real estate investment trust reported $0.15 earnings per share for the quarter, topping the consensus estimate of $0.09 by $0.06. Rexford Industrial Realty had a return on equity of 3.06% and a net margin of 26.46%. The company had revenue of $104.24 million for the quarter, compared to analyst estimates of $103.03 million. During the same period in the prior year, the firm posted $0.32 EPS. The business’s revenue was up 30.7% compared to the same quarter last year.
The business also recently declared a quarterly dividend, which will be paid on Friday, October 15th. Stockholders of record on Thursday, September 30th will be paid a dividend of $0.24 per share. The ex-dividend date of this dividend is Wednesday, September 29th. This represents a $0.96 annualized dividend and a dividend yield of 1.65%. Rexford Industrial Realty’s dividend payout ratio (DPR) is presently 72.73%.
In related news, General Counsel David E. Lanzer sold 14,000 shares of the stock in a transaction that occurred on Thursday, August 5th. The stock was sold at an average price of $62.11, for a total transaction of $869,540.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.50% of the stock is owned by corporate insiders.
Large investors have recently made changes to their positions in the stock. Daiwa Securities Group Inc. boosted its stake in Rexford Industrial Realty by 9.1% during the 2nd quarter. Daiwa Securities Group Inc. now owns 36,435 shares of the real estate investment trust’s stock valued at $2,075,000 after purchasing an additional 3,029 shares during the period. Rhumbline Advisers boosted its stake in Rexford Industrial Realty by 2.0% during the 1st quarter. Rhumbline Advisers now owns 372,902 shares of the real estate investment trust’s stock valued at $18,794,000 after purchasing an additional 7,471 shares during the period. Lasalle Investment Management Securities LLC bought a new stake in Rexford Industrial Realty during the 1st quarter valued at approximately $29,258,000. Russell Investments Group Ltd. boosted its stake in Rexford Industrial Realty by 0.7% during the 1st quarter. Russell Investments Group Ltd. now owns 1,019,357 shares of the real estate investment trust’s stock valued at $51,374,000 after purchasing an additional 6,689 shares during the period. Finally, American Assets Capital Advisers LLC boosted its stake in Rexford Industrial Realty by 2.1% during the 2nd quarter. American Assets Capital Advisers LLC now owns 217,151 shares of the real estate investment trust’s stock valued at $12,367,000 after purchasing an additional 4,400 shares during the period.
Rexford Industrial Realty Company Profile
Rexford Industrial Realty, Inc is a self-administered and self-managed real estate investment trust, which engages in owning, operating, and acquiring industrial properties. The company was founded on January 18, 2013 and is headquartered in Los Angeles, CA.
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