Rexford Industrial Realty, Inc. (NYSE: REXR – Get a rating) – Stock analysts Capital One Financial raised their third-quarter 2023 earnings per share estimate for Rexford Industrial Realty in a research note released to investors on Tuesday, May 3. Capital One Financial analyst C. Lucas now expects the real estate investment trust to post earnings per share of $0.55 for the quarter, up from its previous forecast of 0.53. $. Capital One Financial also released earnings estimates for Rexford Industrial Realty for fiscal year 2023 at $2.17 EPS.
REXR has been the subject of several other reports. Robert W. Baird raised his price target on shares of Rexford Industrial Realty from $86.00 to $103.00 in a Thursday, April 21 research note. StockNews.com purported coverage of Rexford Industrial Realty stock in a Thursday, March 31 report. They set a “holding” rating for the company. Wells Fargo & Company raised its price target on shares of Rexford Industrial Realty from $81.00 to $90.00 in a Thursday, April 28 report. To finish, Zacks Investment Research downgraded shares of Rexford Industrial Realty from a “buy” rating to a “hold” rating in a report on Friday, April 1. Two investment analysts gave the stock a hold rating and four gave the company a buy rating. Based on data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of $84.80.
Shares of Rexford Industrial Realty Inventory traded at $2.02 during Friday’s trading, reaching $71.70. 6,616 shares were traded, against an average volume of 1,265,586. The stock has a market cap of $11.83 billion, a price-to-earnings ratio of 83.77, a growth price-to-earnings ratio of 3 .88 and a beta of 0.69. The company has a fifty-day moving average price of $74.76 and a 200-day moving average price of $73.06. Rexford Industrial Realty has a 1-year low of $52.47 and a 1-year high of $84.68. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt ratio of 0.29.
Rexford Industrial Building (NYSE: REXR – Get a rating) last released its quarterly results on Tuesday, April 19. The real estate investment trust reported earnings per share (EPS) of $0.27 for the quarter, beating the consensus estimate of $0.20 by $0.07. Rexford Industrial Realty had a net margin of 29.60% and a return on equity of 3.22%. The company posted revenue of $140.80 million for the quarter, versus analyst estimates of $141.60 million. During the same period of the previous year, the company achieved EPS of $0.37. The company’s revenue increased by 41.1% compared to the same quarter last year.
The company also recently announced a quarterly dividend, which will be paid on Friday, July 15. Investors of record on Thursday, June 30 will receive a dividend of $0.315 per share. This represents a dividend of $1.26 on an annualized basis and a yield of 1.76%. The ex-date of this dividend is Wednesday, June 29. Rexford Industrial Realty’s dividend payout ratio is 143.18%.
In related news, the Advocate General David E. Lanzer sold 11,814 shares of the company in a transaction that took place on Monday, February 14. The shares were sold at an average price of $70.04, for a total transaction of $827,452.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available via this link. 1.50% of the shares are held by insiders.
Hedge funds and other institutional investors have recently changed their positions in the company. Norges Bank acquired a new stake in shares of Rexford Industrial Realty during the fourth quarter at a value of $336,883,000. BlackRock Inc. increased its stake in Rexford Industrial Realty by 8.6% during the fourth quarter. BlackRock Inc. now owns 19,810,848 shares of the real estate investment trust worth $1,606,859,000 after acquiring an additional 1,569,782 shares in the last quarter. Allspring Global Investments Holdings LLC purchased a new position in Rexford Industrial Realty during the fourth quarter worth $108,822,000. State Street Corp increased its stake in Rexford Industrial Realty by 16.8% during the fourth quarter. State Street Corp now owns 7,251,109 shares of the real estate investment trust worth $589,854,000 after acquiring an additional 1,043,035 shares last quarter. Finally, Invesco Ltd. increased its stake in shares of Rexford Industrial Realty by 19.4% in the fourth quarter. Invesco Ltd. now owns 5,910,197 shares of the real estate investment trust valued at $479,377,000 after purchasing an additional 959,157 shares last quarter. Hedge funds and other institutional investors hold 98.53% of the company’s shares.
Rexford Industrial Real Estate Company Profile (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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