Rexford Industrial Realty, Inc. Expected to Post Fiscal 2022 Earnings of $1.95 Per Share (NYSE: REXR)


Rexford Industrial Realty, Inc. (NYSE: REXRGet a rating) – Capital One Financial investment analysts raised their earnings per share (EPS) estimates for fiscal 2022 for shares of Rexford Industrial Realty in a report released Tuesday, May 3. Capital One Financial analyst C. Lucas now expects the real estate investment trust to post earnings of $1.95 per share for the year, up from its previous forecast of $1.92. Capital One Financial also released estimates for Rexford Industrial Realty Q4 2022 earnings at $0.50 EPS, Q1 2023 earnings at $0.53 EPS, Q2 2023 earnings at $0.54 EPS, Q4 2023 earnings at $0.56 EPS, Q1 2024 earnings at $0.60 EPS and FY2024 earnings at $2.48 EPS.

Rexford Industrial Building (NYSE: REXRGet a rating) last released its quarterly results on Tuesday, April 19. The real estate investment trust reported EPS of $0.27 for the quarter, beating analyst consensus estimates of $0.20 by $0.07. The company posted revenue of $140.80 million in the quarter, compared to $141.60 million expected by analysts. Rexford Industrial Realty had a return on equity of 3.22% and a net margin of 29.60%. Rexford Industrial Realty revenue increased 41.1% year over year. In the same quarter of the previous year, the company achieved EPS of $0.37.

A number of other research companies have also weighed in on REXR recently. Wells Fargo & Company raised its price target on Rexford Industrial Realty from $81.00 to $90.00 in a Thursday, April 28 research note. Robert W. Baird raised his target price on Rexford Industrial Realty from $86.00 to $103.00 in a Thursday, April 21 report. Zacks Investment Research downgraded Rexford Industrial Realty from a “buy” rating to a “hold” rating in a report on Friday, April 1. To finish, StockNews.com began covering Rexford Industrial Realty in a report on Thursday, March 31. They issued a “holding” rating for the company. Two equity research analysts gave the stock a hold rating and four gave the stock a buy rating. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $84.80.

Shares of Rexford Industrial Realty Inventory opened at $76.41 on Thursday. Rexford Industrial Realty has a 1-year low of $52.47 and a 1-year high of $84.68. The company has a debt ratio of 0.29, a current ratio of 0.70 and a quick ratio of 0.70. The stock’s 50-day moving average is $74.72 and its 200-day moving average is $72.98. The company has a market capitalization of $12.61 billion, a price-earnings ratio of 86.83, a PEG ratio of 3.88 and a beta of 0.69.

A number of hedge funds and other institutional investors have recently changed their positions in REXR. CWM LLC increased its holdings of Rexford Industrial Realty shares by 411.2% in the first quarter. CWM LLC now owns 455 shares of the real estate investment trust worth $34,000 after acquiring an additional 366 shares during the period. Total Clarity Wealth Management Inc. bought a new stock position in Rexford Industrial Realty in the fourth quarter worth $41,000. National Bank of Canada FI bought a new stock position in Rexford Industrial Realty in the fourth quarter worth $43,000. First Horizon Advisors Inc. increased its holdings of Rexford Industrial Realty shares by 28.7% in the fourth quarter. First Horizon Advisors Inc. now owns 727 shares of the real estate investment trust worth $59,000 after acquiring an additional 162 shares during the period. Finally, Signaturefd LLC increased its holdings of Rexford Industrial Realty shares by 63.5% in the fourth quarter. Signaturefd LLC now owns 870 shares of the real estate investment trust worth $71,000 after acquiring 338 additional shares during the period. 98.53% of the shares are held by institutional investors and hedge funds.

In other Rexford Industrial Realty news, General Counsel David E. Lanzer sold 11,814 shares in a trade on Monday, February 14. The stock was sold at an average price of $70.04, for a total transaction of $827,452.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, accessible via the SEC website. 1.50% of the shares are currently held by insiders.

The company also recently announced a quarterly dividend, which will be paid on Friday, July 15. Shareholders of record on Thursday, June 30 will receive a dividend of $0.315 per share. This represents an annualized dividend of $1.26 and a yield of 1.65%. The ex-dividend date is Wednesday, June 29. Rexford Industrial Realty’s dividend payout ratio (DPR) is 143.18%.

About Rexford Industrial Real Estate (Get a rating)

Rexford Industrial, a real estate investment trust focused on owning and operating industrial properties in the Southern California infill markets, owns 232 properties comprising approximately 27.9 million leasable square feet and manages 20 additional properties of approximately 1.0 million leasable square feet.

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Earnings history and estimates for Rexford Industrial Realty (NYSE: REXR)



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