Rexford Industrial Realty, Inc. (NYSE:REXR) – Research analysts at Capital One Financial increased their Q1 2022 earnings estimates for Rexford Industrial Realty in a research note issued on Wednesday, December 15th. Capital One Financial analyst C. Lucas now forecasts that the real estate investment trust will earn $0.46 per share for the quarter, up from their previous forecast of $0.45. Capital One Financial also issued estimates for Rexford Industrial Realty’s Q3 2022 earnings at $0.48 EPS, Q4 2022 earnings at $0.48 EPS, FY2022 earnings at $1.89 EPS, Q1 2023 earnings at $0.50 EPS, Q2 2023 earnings at $0.52 EPS, Q3 2023 earnings at $0.54 EPS, FY2023 earnings at $2.09 EPS and FY2025 earnings at $2.53 EPS.
Other research analysts have also recently issued research reports about the company. Wells Fargo & Company upgraded Rexford Industrial Realty from an “equal weight” rating to an “overweight” rating and set a $83.00 price objective for the company in a research note on Tuesday. Robert W. Baird restated an “outperform” rating and issued a $82.00 price target (up previously from $74.00) on shares of Rexford Industrial Realty in a research note on Monday, October 25th. Zacks Investment Research upgraded Rexford Industrial Realty from a “hold” rating to a “buy” rating and set a $64.00 price target for the company in a research note on Saturday, October 2nd. Finally, JPMorgan Chase & Co. restated a “hold” rating on shares of Rexford Industrial Realty in a research note on Sunday, December 12th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, Rexford Industrial Realty presently has a consensus rating of “Buy” and an average price target of $73.75.
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Shares of NYSE:REXR opened at $76.16 on Friday. The stock has a fifty day simple moving average of $68.71 and a two-hundred day simple moving average of $62.75. The stock has a market capitalization of $11.54 billion, a price-to-earnings ratio of 113.67, a PEG ratio of 3.57 and a beta of 0.67. Rexford Industrial Realty has a 12-month low of $45.90 and a 12-month high of $77.24. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.32. Rexford Industrial Realty (NYSE:REXR) last released its earnings results on Tuesday, October 19th. The real estate investment trust reported $0.23 EPS for the quarter, beating the Zacks’ consensus estimate of $0.12 by $0.11. The company had revenue of $115.40 million during the quarter, compared to analysts’ expectations of $111.08 million. Rexford Industrial Realty had a return on equity of 2.97% and a net margin of 26.46%. The firm’s revenue for the quarter was up 37.6% compared to the same quarter last year. During the same quarter last year, the business posted $0.33 EPS.
Institutional investors have recently made changes to their positions in the company. First Trust Advisors LP lifted its position in shares of Rexford Industrial Realty by 419.1% in the first quarter. First Trust Advisors LP now owns 90,000 shares of the real estate investment trust’s stock worth $3,223,000 after buying an additional 72,663 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Rexford Industrial Realty by 3.2% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 37,882 shares of the real estate investment trust’s stock worth $2,157,000 after buying an additional 1,184 shares in the last quarter. Granite Investment Partners LLC lifted its position in shares of Rexford Industrial Realty by 1.1% in the second quarter. Granite Investment Partners LLC now owns 44,908 shares of the real estate investment trust’s stock worth $2,558,000 after buying an additional 492 shares in the last quarter. New York State Common Retirement Fund lifted its position in shares of Rexford Industrial Realty by 5.8% in the second quarter. New York State Common Retirement Fund now owns 135,662 shares of the real estate investment trust’s stock worth $7,726,000 after buying an additional 7,462 shares in the last quarter. Finally, American Assets Capital Advisers LLC raised its position in Rexford Industrial Realty by 2.1% during the second 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.
In other Rexford Industrial Realty news, CEO Michael S. Frankel sold 115,000 shares of the business’s stock in a transaction dated Wednesday, November 10th. The stock was sold at an average price of $69.66, for a total transaction of $8,010,900.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 1.50% of the company’s stock.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 18th. Shareholders of record on Friday, December 31st will be issued a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 1.26%. The ex-dividend date is Thursday, December 30th. Rexford Industrial Realty’s dividend payout ratio is presently 143.28%.
About Rexford Industrial Realty
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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