$0.23 EPS Expected for Rexford Industrial Realty Inc (REXR) This Quarter

Analysts forecast that Rexford Industrial Realty Inc (NASDAQ:REXR) will report $0.23 earnings per share for the current quarter, Zacks reports. Six analysts have made estimates for Rexford Industrial Realty’s earnings, with the highest EPS estimate coming in at $0.24 and the lowest estimate coming in at $0.21. Rexford Industrial Realty reported earnings per share of $0.21 during the same quarter last year, which suggests a positive year-over-year growth rate of 9.5%. The firm is scheduled to report its next quarterly earnings results after the market closes on Tuesday, August 1st.

On average, analysts expect that Rexford Industrial Realty will report full year earnings of $0.95 per share for the current financial year, with EPS estimates ranging from $0.92 to $1.02. For the next financial year, analysts forecast that the firm will post earnings of $1.06 per share, with EPS estimates ranging from $1.01 to $1.11. Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side research firms that follow Rexford Industrial Realty.

Rexford Industrial Realty (NASDAQ:REXR) last issued its earnings results on Wednesday, May 3rd. The company reported $0.23 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.23. The business had revenue of $35.35 million for the quarter, compared to analysts’ expectations of $35.53 million. Rexford Industrial Realty had a return on equity of 1.96% and a net margin of 16.18%. The business’s revenue for the quarter was up 28.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.22 EPS.

A number of brokerages have recently weighed in on REXR. DA Davidson reissued a “buy” rating and set a $33.00 price objective (up from $30.00) on shares of Rexford Industrial Realty in a research note on Thursday, July 13th. FBR & Co began coverage on shares of Rexford Industrial Realty in a research note on Tuesday, July 11th. They set a “mkt perform” rating and a $26.00 price objective for the company. Wunderlich reissued a “hold” rating and set a $24.00 price objective (up from $22.00) on shares of Rexford Industrial Realty in a research note on Tuesday, May 9th. Jefferies Group LLC reissued a “buy” rating and set a $32.00 price objective on shares of Rexford Industrial Realty in a research note on Tuesday, July 25th. Finally, Stifel Nicolaus reissued a “buy” rating and set a $30.00 price objective on shares of Rexford Industrial Realty in a research note on Friday, July 14th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $27.71.

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A number of hedge funds have recently added to or reduced their stakes in REXR. IndexIQ Advisors LLC boosted its stake in Rexford Industrial Realty by 13.5% in the first quarter. IndexIQ Advisors LLC now owns 71,749 shares of the company’s stock valued at $1,616,000 after buying an additional 8,536 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its stake in Rexford Industrial Realty by 2.0% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 64,158 shares of the company’s stock valued at $1,445,000 after buying an additional 1,242 shares during the last quarter. Honeywell International Inc. purchased a new stake in Rexford Industrial Realty during the first quarter valued at approximately $1,603,000. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its stake in Rexford Industrial Realty by 1.8% in the first quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 10,347 shares of the company’s stock valued at $233,000 after buying an additional 181 shares during the last quarter. Finally, Russell Investments Group Ltd. boosted its stake in Rexford Industrial Realty by 8.5% in the first quarter. Russell Investments Group Ltd. now owns 1,029,288 shares of the company’s stock valued at $23,169,000 after buying an additional 80,389 shares during the last quarter.

Shares of Rexford Industrial Realty (NASDAQ REXR) traded up 0.53% on Tuesday, hitting $28.67. The stock had a trading volume of 54,352 shares. Rexford Industrial Realty has a one year low of $20.05 and a one year high of $28.81. The stock has a market cap of $1.90 billion and a PE ratio of 73.70. The company’s 50 day moving average is $27.69 and its 200 day moving average is $24.94.

The company also recently announced a quarterly dividend, which was paid on Monday, July 17th. Shareholders of record on Friday, June 30th were paid a $0.145 dividend. This is a boost from Rexford Industrial Realty’s previous quarterly dividend of $0.14. This represents a $0.58 annualized dividend and a yield of 2.03%. The ex-dividend date of this dividend was Wednesday, June 28th.

Rexford Industrial Realty Company Profile

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.

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

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