Wall Street brokerages expect Rexford Industrial Realty (NYSE:REXR) to report earnings per share of $0.26 for the current quarter, according to Zacks. Four analysts have made estimates for Rexford Industrial Realty’s earnings. The highest EPS estimate is $0.26 and the lowest is $0.25. 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 13%. The business is expected to announce its next earnings report on Tuesday, August 7th.
On average, analysts expect that Rexford Industrial Realty will report full year earnings of $1.06 per share for the current fiscal year, with EPS estimates ranging from $1.05 to $1.08. For the next year, analysts expect that the firm will report earnings of $1.15 per share, with EPS estimates ranging from $1.12 to $1.19. Zacks’ earnings per share calculations are a mean average based on a survey of research analysts that follow Rexford Industrial Realty.
Rexford Industrial Realty (NYSE:REXR) last announced its quarterly earnings results on Tuesday, May 1st. The real estate investment trust reported $0.15 EPS for the quarter, missing the consensus estimate of $0.25 by ($0.10). Rexford Industrial Realty had a net margin of 28.58% and a return on equity of 4.29%. The firm had revenue of $48.54 million during the quarter, compared to analyst estimates of $46.04 million. During the same quarter in the previous year, the business posted $0.23 EPS. Rexford Industrial Realty’s revenue for the quarter was up 37.3% compared to the same quarter last year.
Shares of NYSE:REXR traded up $0.24 during trading hours on Friday, hitting $31.42. The stock had a trading volume of 13,327 shares, compared to its average volume of 631,607. Rexford Industrial Realty has a 1-year low of $26.32 and a 1-year high of $32.91. The firm has a market capitalization of $2.54 billion, a P/E ratio of 32.79, a PEG ratio of 4.80 and a beta of 0.73. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.52.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 16th. Investors of record on Friday, June 29th will be paid a dividend of $0.16 per share. The ex-dividend date of this dividend is Thursday, June 28th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 2.04%. Rexford Industrial Realty’s dividend payout ratio is presently 66.67%.
In related news, CFO Adeel Khan sold 17,599 shares of the firm’s stock in a transaction that occurred on Friday, May 11th. The shares were sold at an average price of $32.36, for a total transaction of $569,503.64. Following the transaction, the chief financial officer now owns 9,053 shares in the company, valued at $292,955.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 1.80% of the stock is owned by company insiders.
Large investors have recently modified their holdings of the stock. Ladenburg Thalmann Financial Services Inc. boosted its holdings in Rexford Industrial Realty by 104.2% during the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 4,230 shares of the real estate investment trust’s stock worth $121,000 after buying an additional 2,158 shares in the last quarter. Symphony Asset Management LLC bought a new stake in Rexford Industrial Realty during the first quarter worth approximately $216,000. Jefferies Group LLC bought a new stake in Rexford Industrial Realty during the fourth quarter worth approximately $222,000. Eaton Vance Management bought a new stake in Rexford Industrial Realty during the fourth quarter worth approximately $229,000. Finally, Victory Capital Management Inc. boosted its holdings in Rexford Industrial Realty by 128.1% during the first quarter. Victory Capital Management Inc. now owns 8,539 shares of the real estate investment trust’s stock worth $246,000 after buying an additional 4,796 shares in the last quarter.
About Rexford Industrial Realty
Rexford Industrial is a real estate investment trust focused on owning and operating industrial properties in Southern California infill markets. The Company owns 150 properties with approximately 18.5 million rentable square feet and manages an additional 19 properties with approximately 1.2 million rentable square feet.
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