Rexford Industrial Realty Inc to Post Q3 2017 Earnings of $0.25 Per Share, DA Davidson Forecasts (REXR)

Rexford Industrial Realty Inc (NASDAQ:REXR) – Equities researchers at DA Davidson cut their Q3 2017 earnings estimates for Rexford Industrial Realty in a research note issued to investors on Wednesday. DA Davidson analyst B. Oxford now expects that the company will post earnings of $0.25 per share for the quarter, down from their prior estimate of $0.27. DA Davidson has a “Buy” rating and a $33.00 price target on the stock. DA Davidson also issued estimates for Rexford Industrial Realty’s Q4 2017 earnings at $0.26 EPS, FY2017 earnings at $0.97 EPS, Q1 2018 earnings at $0.26 EPS, Q2 2018 earnings at $0.26 EPS, Q4 2018 earnings at $0.28 EPS and FY2018 earnings at $1.07 EPS.

Rexford Industrial Realty (NASDAQ:REXR) last announced its quarterly earnings data on Tuesday, August 1st. The company reported $0.23 earnings per share for the quarter, hitting the consensus estimate of $0.23. Rexford Industrial Realty had a return on equity of 1.96% and a net margin of 16.18%. The company had revenue of $36.78 million during the quarter, compared to analyst estimates of $36.75 million. During the same quarter last year, the firm posted $0.22 EPS. The firm’s revenue for the quarter was up 20.2% on a year-over-year basis.

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Other analysts have also recently issued research reports about the company. Jefferies Group LLC reiterated a “buy” rating and set a $32.00 price objective on shares of Rexford Industrial Realty in a research report on Tuesday, July 25th. Stifel Nicolaus reiterated a “buy” rating and set a $30.00 price objective on shares of Rexford Industrial Realty in a research report on Friday, July 14th. Wunderlich reiterated a “hold” rating and set a $24.00 price objective (up previously from $22.00) on shares of Rexford Industrial Realty in a research report on Tuesday, May 9th. Zacks Investment Research upgraded Rexford Industrial Realty from a “sell” rating to a “hold” rating in a research report on Friday, April 21st. Finally, FBR & Co upped their price target on Rexford Industrial Realty from $26.00 to $27.00 and gave the stock a “mkt perform” rating in a research report on Tuesday. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Rexford Industrial Realty currently has a consensus rating of “Buy” and a consensus price target of $27.86.

Shares of Rexford Industrial Realty (NASDAQ REXR) opened at 27.40 on Monday. The company has a 50-day moving average price of $27.77 and a 200 day moving average price of $25.06. Rexford Industrial Realty has a one year low of $20.05 and a one year high of $29.02. The stock has a market cap of $1.94 billion and a price-to-earnings ratio of 58.67.

The business also recently declared a quarterly dividend, which will be paid on Monday, October 16th. Shareholders of record on Friday, September 29th will be given a $0.145 dividend. This represents a $0.58 dividend on an annualized basis and a yield of 2.12%. The ex-dividend date is Thursday, September 28th.

A number of hedge funds have recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in shares of Rexford Industrial Realty by 1.2% in the first quarter. Vanguard Group Inc. now owns 7,917,485 shares of the company’s stock worth $178,301,000 after buying an additional 91,731 shares during the last quarter. BlackRock Inc. boosted its stake in shares of Rexford Industrial Realty by 1,607.5% in the first quarter. BlackRock Inc. now owns 5,832,562 shares of the company’s stock worth $131,347,000 after buying an additional 5,490,976 shares during the last quarter. AEW Capital Management L P boosted its stake in shares of Rexford Industrial Realty by 1.0% in the second quarter. AEW Capital Management L P now owns 4,078,857 shares of the company’s stock worth $111,924,000 after buying an additional 41,557 shares during the last quarter. Wellington Management Group LLP boosted its stake in shares of Rexford Industrial Realty by 6.7% in the first quarter. Wellington Management Group LLP now owns 2,630,219 shares of the company’s stock worth $59,233,000 after buying an additional 164,973 shares during the last quarter. Finally, State Street Corp boosted its stake in shares of Rexford Industrial Realty by 4.2% in the first quarter. State Street Corp now owns 2,207,502 shares of the company’s stock worth $49,714,000 after buying an additional 89,682 shares during the last quarter.

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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